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Why Ripple (XRP) is not able to shine at full as yet

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Ripple XRP
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For many of the crypto enthusiasts Ripple (XRP) is one of the tokens that results harsher to read and understand, which is, in fact, one of the major concerns for the third largest cryptocurrency of the market.

Truth be told, even when the coin has managed to stay in the third position of the charts, the decrease in value is more than evident, even being valued now at a price of $0.43484, which means the price is five to six times lower compared to the beginning of the year.

Nevertheless, this is actually the lesser of the major problems that the cryptocurrency is facing as of now. For starters, Ripple Labs is dealing at the moment with a couple of class action lawsuits made by a user who accuses the company of not following the laws of security made by the US government, a fact that without a doubt has raised a lot of comments around the purposes of the token, and additionally, has augmented the opinions of the likely classification of the coin as a security due to its centralization status.

Like this, it seems more than clear that Ripple is not going through its best time, but if we take a closer look on the asset, one may asseverate that the most disturbing affair is that the token seems to be somehow directionless and stuck. Let’s see the main reasoning behind this.

Ripple’s greatest problem of them all

It is not a secret to anybody that Ripple is one of the tokens on the market that has developed the best relationships with the financial industry, and this has led the entire community to believe that via Ripple they will find the link between traditional currencies and virtual coins.

However, nothing’s far from reality than this, in fact, we don’t need to be that analytical to realize that even when Ripple has managed to partner with at least 100 bank entities from all around the world, this relationships center on the products xCurrent, and xVia, solutions designed to improve cross-border payments separately from the XRP token.

In this sense, the only product that carries the XRP token is xRapid, but as of now, it continues out of the picture when it comes to negotiating with a partner, and that is precisely one of the leading critics that Ripple receives. It has been speculated that the company plans to create a bridge between the three solutions at a point, and that convincing a partner to migrate from one solution to another it would be actually an easy thing to do, but the truth is, this is only a matter of conjectures.

Another problem that Ripple needs to solve to find a direction to sail is to come clean with its purpose and the way this matches (or not) with being a cryptocurrency.

For instance, Ripple’s primary target is to solve cross-border remittances and payments in a more efficient way than SWIFT does, but in order to create a solution of this kind, there’s no other outlet than becoming a fully decentralized cryptocurrency, which is, in fact, the latest concern of the community.

As a matter of fact, Ripple protocols rely on antiquated systems that crypto users are trying to surpass by using virtual coins, so as it just seems the picture is just not that clear. Ripple (XRP) has got the potential to revolutionize the financial system as it wants, but the company still need to work hard and get out of the hot water.

To obtain the results and position that Ripple deserves, it must not just settle with just keep scoring partnerships with more banks (who mainly utilize xVia and xCurrent, and not XRP) and just arrange a Snoop Dog alike throwdown occasionally. The company needs to go beyond (and get clear), and it can do it, but at the moment, things are just not looking that good for Ripple compared to how the cryptocurrency is putting all things together correctly.

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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.

Image courtesy of Pxhere.com

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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