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Why is xRapid not bringing XRP price up?

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Ripple XRP

Have you ever heard about Adam Smith? Have you read his book “The Wealth of Nations? You should. This is the guy who invented Economics. He invented the idea that markets find a way to regulate themselves through supply and demand. But one thing Smith never said was that markets were rational. They’re not. Rumors, fear, momentary impulse govern them, and this is what happens with the crypto markets right now, especially with Ripple’s XRP.

Let’s review XRP’s price recent history briefly

Ripple’s yearly Swell conference started last Monday and, on the two previous weeks, the price went up. Nobody knew anything, but this is an example of speculative investors buying into rumors, trying to get into the action early before anybody else does. What happened next?

Well, Swell happened next and, while it was supposed to be a low key conference, it turned out a big announcement. Namely, that xRapid is, at last on production stage, with three partners who are already using it to settle their international money transfers.

Those were great news. And what happened next? XRP’s price went down. Let’s dig a little deeper.

Cryptocurrencies, like any other commodities or resources, can grow in value because of two reasons: they can either be useful, or speculators could be interested in them. This is Economics 101. At this point, very few crypto-coins are helpful in the real world. That means that their value is dictated by speculative pressure, mainly.

Ripple is in a transient period. It is turning into a project (and a token) that is becoming useful in the real world because banks, remittance services, and financial institutions are slowly (but surely) adopting both the platform and the coin. But the process is only beginning so speculative pressure is still very strong and it’s holding the token’s value back.

So if xRapid is finally in production, then why is the token’s price going down?

Because it’s started with three users only, which are not very big at that. But if things work well for them, other banks (bigger banks) will also adopt xRapid (Banco Santander already has another of Ripple’s platforms in production), and that will create a much bigger demand for XRP. Not because of trade in exchanges but because it’s a useful coin that solves problems for real people.

The one thing you need to know about XRP’s value is this: it’s not a sprint race; it’s a Marathon. But Ripple technology and the token have proven to be helpful for many businesses the world over so they are sure to gain more users.

And with more users, there will be a higher trade volume that will drive the coin’s price up because of usefulness, and not because of sheer speculation. Keep in mind that even Stellar Lumens and LiteCoin have seen Ripple’s project and followed suit, because they know that taking a cryptocurrency mainstream is the one thing that can make it valuable in the market, bypassing speculative measures.

This is not a time to be fooled by what’s happened this last week (XRP is down by more than 6% even during the previous 24 hours). It’s instead a time to think long-term, and there are many good long-term bets in the cryptosphere. Tron, Stellar, Bitcoin (surprise!), Cardano and a few others, but among them, there is Ripple.

Don’t worry about the current market. As I stated before, it’s irrational. Be rational and outdo the market. Not this week. Just think long-term. Is the market terrible right now? No, it’s not awful. It’s cheap. It’s probably the right time to buy. But don’t take our word. Do your own research, reach your own conclusions and never put in the crypto market money that you can’t afford to lose.

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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.

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META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

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Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

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GDA Capital in Conversation About the Future of Digital Assets at Global Family Office Summit

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GDA Capital organized the quarterly Global Family Office Summit this week. The event was held virtually with a number of technology leaders and high net worth investors who discussed issues such as education, trust and responsibility to give back. Among these were insightful conversations with Dubai-based Dalma Capital’s CEO Zachari Cefaratti, Holt Fintech Accelerator founder Brendan Hold Dunn, Global Data Sentinel CEO and White City Ventures Chairman of the Board Shahal Khan, and Elitium CEO Raoul Milhado, among others. Participants were also given access to off-market opportunities to invest in novel technologies.

Will Bartlett, GDA Capital’s Director of Research, headlined the event by focusing on tech in the modern economy, and identifying six sectors where new technologies can make a lasting impact: robotics, space, biotech, machine learning, quantum computing, and blockchain. In the context of blockchain, he discussed how digital assets are a hedge against traditional financial markets. “Cryptocurrencies have no exposure to stock market returns, macroeconomic factors, or returns of currencies and commodities,” Bartlett said.

More so, Bartlett believes that new models for digital assets such as DigitalBits’ branded stablecoins are key to the development of the field. These currencies replace traditional rewards and loyalty point systems that are commonly used by household brands by porting them to the blockchain. Meanwhile, they rely on brand…

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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