Tag: Ripple (XRP)

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Crypto News

VeChain vs. Ripple (XRP) – The Ideal Choice for New Investors

Investing in the cryptocurrency market is risky business because you never know when the market will go on an upswing or crash. This is why so many people get interested in investing money in altcoins, especially since there are so many stories about people who made good investments and got rich overnight. Seeing how the market is so highly volatile, we advise people to only invest sums that they can afford to lose and to invest in projects that they believe in.

VeChain vs Ripple

Investing in huge cryptocurrencies such as Bitcoin and Ethereum is considered to be a “safe bet”. However, a Bitcoin token is currently worth $6,729.00 which makes it difficult for people to invest money that they can afford losing. Here is where VeChain and Ripple come in.

VeChain and Ripple are great for new investors who are looking to expand their portfolio and get involved in the cryptocurrency market because their tokens are affordable with VeChain being priced at $3.22 per token and Ripple at $0.537489. With that said, lets see what these cryptocurrencies are all about.

Ripple (XRP) is Focused on Banks

The thing that makes Ripple special is the fact that it focuses on allowing banks to transfer currencies between each other. Ripple is currently partnered with more than 100 banks and it can transfer funds on a global scale in a matter of seconds. Things get even better than this since Ripple charges $0.0004 XRP per transfer which is basically free.

VeChain

Unlike Ripple, VeChain is not trying to get banks to use it and instead of that, VeChain’s goal is to connect blockchain technology to the real world. VeChain features advanced IoT (internet of things) technology which makes it ideal for developers who are looking to introduce blockchain technology and cryptocurrencies in real world applications.

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Crypto News

This Is The Naked Truth Behind Ripple (XRP) – XRP Is Not A Cryptocurrency

It’s no breaking news that the cryptocurrencies market took everyone by storm. More and more investors, both individuals and institutional traders, are seeking for the best trades in this increasingly popular market and, of course, a share of the enormous pie the cryptos represent. Also, there is no news that Ripple (XRP) has been, and still is, under the focus of many traders, either newcomers or old-school crypto investors. But, not many are aware of what’s the deal with Ripple corporation and XRP. Thus, this is the naked truth behind Ripple (XRP).

Back in 2009 when Bitcoin (BTC) emerged out of the blue, the world was baffled by the idea of virtual currency, a virtual asset that is not and never will be centralized or, in other words, controlled by a government or a central bank. That’s why, maybe, BTC was quickly adopted as a method of payment for illegal activities commanded and conducted under total anonymity on the dark web.

But the time passed by and Bitcoin (BTC) escaped from the “underground” and created a real craze, growing year after year. On the other hand, the BTC cryptocurrency has always been decentralized and community-powered, as no society, government, bank, or corporation has ever controlled it.

There are several other cryptocurrencies just like Bitcoin (BTC), such as Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and others. However, Ripple (XRP) is not one of these.

Ripple holds 60% of the whole XRP volume and can always pull the switch off

When they’ve emerged on the market, back in 2002, Ripple owners generated 100 billion XRP tokens which were not backed up by anything valuable.

Out of these 100 billion XRP tokens, 20 billion XRP remained within the Ripple’s creators, and 80 billion XRP tokens were released on the market. But, the naked truth about Ripple (XRP) is that Ripple Labs holds about 60% of the whole XRP volume. It is up to them if they sell their share to gain huge profits or if they release their 60% on the cryptocurrencies market at low prices to devaluate the Ripple (XRP) market for reasons known only bt them.

In short, Ripple (XRP) is kept by a third-party that can have something special in its agenda and could cause damage to investors any time it wants to.

The Naked Truth Behind Ripple (XRP) – XRP is not a cryptocurrency

To understand why XRP is not a cryptocurrency, you must comprehend the concept of “debt-based fiat money,” which is as old as the banknotes.

First, remember that the first banknotes in the world were pieces of paper that reflected the amounts of gold, silver, or anything with an intrinsic value an individual held in a primitive form of a bank. With time, the concept changed, and the governments started to print money with no backup in gold. The concept of “debt-based fiat money” is based on the fact that people believe in the value written on a piece of paper but that value is not an intrinsic value and is not backed up by any other valuable asset, either.

The same thing applies to Ripple (XRP), to some extent. More specifically, Ripple is a remittance network, an exchange system, and a settlement system, which uses XRP, its proprietary digital token to perform these actions.

Accordingly, Ripple (XRP) is not a cryptocurrency because it’s backed up with fiat money and is not intended to be money but only a way to exchange money, in opposition with Bitcoin (BTC) which is a cryptocurrency per se and holds an intrinsic value, that is the difficulty of generating a block on its blockchain.

Another reason why XRP is not OK is that the token is centralized and operates on a relatively closed blockchain that is not open source or straightforward as in the case of real cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and so on.

On the other hand, Ripple (XRP) is not mineable. Thus, people cannot contribute to its generation, which is handled by Ripple corporation and its subsidiaries.

The naked truth about Ripple (XRP) is that XRP is not a cryptocurrency as it is owned by a centralized institution which has never hidden its conceptions about centralizing cryptocurrencies market and how good the things will be if that will happen. Nonetheless, Ripple is just a company which had the idea to blend the components of fiat money with the blockchain technology.

In conclusion, Ripple (XRP) should be cataloged as “digital fiat money” not as a cryptocurrency.

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News Tech

Is Ripple’s (XRP) Value Ever Going to Rise?

A couple of days back, American Express, one of the world’s most significant brands, has chosen to collaborate with Ripple for cross-border installments. This is one of the many financial businesses that has joined forces with Ripple over the most recent a half year for cross-border payments. Today, Ripple (XRP) has more than 150 banks under its crease, all hoping to utilize it as a cost-cutting tool. This focuses on the developing significance of Ripple in the worldwide finance industry. So for what reason isn’t Ripple developing in value at this point?

About XCurrent and XRapid

Indeed, somebody putting resources into Ripple today needs to do as such on account of the long haul see. That is on the grounds that the greater part of the company utilizing Ripple today are utilizing XCurrent. This is a slower form than XRapid, yet one that most companies are using to test the Ripple innovation. Ripple keeps up a system whereby banks that collaborate with XCurrent can change to XRapid once they are OK with system. Given that Ripple is working with many banks, it is just consistent that a significant portion of them will change to XRapid in due time. It spares them over 30% more on the estimation of their cash. When this progress happens, that is when the estimation of Ripple will begin to rise.

This progress could, without much of a stretch, push Ripple (XRP) to over $100. For example, if Ripple somehow managed to be utilized by banks to move at least $1 trillion, the estimation of Ripple (XRP) could ascend to $300. With the sort of financial institutions that Ripple is joining forces with, hitting this figure of $1 trillion is exceptionally plausible, and that, in the course of the next years.

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Crypto

EOS (EOS) And Ripple (XRP) Might Never Be Listed On Coinbase Cryptocurrency Exchange Platform

At this moment, two of the most popular and appreciated crypto coins are EOS (EOS) and Ripple (XRP). However, the Coinbase cryptocurrency exchange platform is practically forgetting about these cryptos, disappointing many members of the crypto community who were expecting to see EOS and XRP listed on the renowned US-based crypto trading platform.

However, Coinbase has a few solid reasons why it’s avoiding listing EOS (EOS) and Ripple (XRP).

One of these reasons is that an investment in Ripple (XRP) and EOS (EOS) crypto coin would not be as reliable and profitable as investing in Ripple and Block.one companies. On the other hand, the debate of which crypto tokens are securities and which aren’t is also a reason why Coinbase doesn’t want to deal with EOS and XRP, at least for the moment.

Some cryptocurrency traders and crypto community enthusiasts are still hoping Coinbase will list Ripple (XRP) and EOS (EOS) but, unfortunately, this might never be the case.

EOS (EOS) and Ripple (XRP) might never be listed on Coinbase cryptocurrency exchange platform

First, the US SEC shows no signs of dealing with the situation surrounding EOS and XRP and this regulatory acts against Ripple is not something in which Coinbase would like to get itself involved. This situation, corroborated by the negative experiences Coinbase cryptocurrency exchange platform has had with other crypto coins, is what makes the renowned platform to keep a safe distance from XRP and EOS.

Also, Coinbase would like to get involved on the mainstream stock market, as well as to attract more institutional investors. Also in this regard, an EOS (EOS) and Ripple (XRP) listing would not help Coinbase due to the regulatory situation surrounding the two digital assets.

On the other hand, new and small-time investors will pop up immediately if Coinbase would announce the addition of EOS and XRP, and that will lead to EOS (EOS) and Ripple (XRP) prices to spike and then to dump. People would then blame Coinbase, definitely something that the most renowned US-based cryptocurrency exchange platform wouldn’t like to happen.

Categories
Crypto

RippleNet Secures Its Position In The Middle East With Two More Partnerships

Ripple presence in the Middle East is more secure than ever with two new partnerships Ripple has recently signed with two main Kuwaiti banks. In the last months, Ripple dealt with banks from Saudi Arabia and the United Arabian Emirates, movements that showed the increasing interest the Middle East presented for the RippleNet transactions platforms.

More specifically, in 2017, UAE-based RAK Bank (National Bank of Ras Al-Khaimah) accepted RippleNet for immediate and safe cross-border payments, especially for transfers to India’s Axis Bank. This partnership triggered another one, as well, and Ripple (XRP) was accepted by the UAE Exchange.

More recently, in April, BankDhofar, a bank based in Oman, accepted the Ripple’s blockchain network, the so-called RippleNet, thus becoming the first financial institution in the country (Oman) to accept the blockchain technology operated by Ripple.

Immediately after that partnership, a period of silence began and everybody thought that the Middle East is done with Ripple and the company will focus on another region.

RippleNet accepted by two main Kuwaiti banks

But the Middle East is like it is addicted to RippleNet and everybody wants it. Recently, Kuwait Finance House (KFH) reported they signed a deal with Ripple and joined RippleNet. KFH is the first Kuwaiti bank to join RippleNet and the first Islamic bank to adopt a cryptocurrency’s blockchain for running transactions.

Now, in another sudden announcement, the National Bank of Kuwait (NBK) has hinted that adopted RippleNet, too, becoming the first Kuwaiti bank to adopt the platform for faster and cheaper cross-border payments.

The Middle East countries depend on RippleNet for conducting transactions because they are willing to evolve in terms of financial services in order to offer their residents faster and, more importantly, cheaper cross-border transactions.

As for the Ripple (XRP), the massive RippleNet’s adoption in the Middle East will also assist the cryptocurrency which will become more stable. As we speak, XRP is traded at $0.67, after decreasing by about 1.10% in the last 24 hours.

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