Ripple’s ambitious (and successful) partnerships gave investors the confidence that it would go above $3. It hasn’t occurred yet, but it’s still mid of the year, and it is possible it will happen before the year ends (half of the year is enough to reach there; you can expect huge overnight losses or gains in crypto – right?).
Investors and professional traders have remained cautious about Ripple, and they’ve not jumped in. But at this point it time, it seems that Ripple’s XRP price is exactly where they wanted it to be. There’s no doubt that XRP is a good buy as things stand right now but is it that good when you take everything into account?
It’s in trouble with SEC because its status as a security remains controversial. Ripple labs believe that the lawsuit and the controversy are just tactics to keep people away from the coin and make the project look bad.
Ripple has shown openness to regulatory initiatives, and Brad Garlinghouse (Ripple’s CEO) has tweeted more than once calling for regulation for crypto coins.
Ripple’s current situation could seem problematic. But if the SEC confirms that Ripple is not a security after all then all bets are off. It will give it the credibility it needs to soar and be accepted, and traded in every major crypto exchange in the world, including Coinbase and Gemini.
So that could be why Coinbase has not listed it so far. But if Ripple is declared a security that would be bad news not just for XRP but for every single crypto coin available in the world today. It would undermine investors’ confidence and ruin the market. It would put the whole blockchain tech into question.
As the SEC is aware of that, they’re unlikely to pursue such a hardline approach. Also, crypto enthusiasts and lobbyist with influence upon the government will take a stand, and so will the big banks and financial institutions that have already adopted any kind of cryptocurrency to make their business easier recently. But the SEC will also need to see some kind of confidence sign from the investor community.
Big banks and financial institutions have been exerting a huge influence on the world’s governments for decades. This time it’s more democratic, it’s bigger than them, and they are afraid to let it run past them, to leave them behind.
All the fearmongering works for those institutions because it keeps the prices down so they can join in at their convenience. But once the banks get their hands on Ripple’s XRP derivatives, options, and futures you’ll see the market soar, with their (and the government’s blessing). Mark my words: in three to five years, if you buy any crypto coins, you’ll be buying them from banks.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Chart courtesy of Cai Wy via Flickr
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…