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Why Q3 Might Be the Game Changer for XRP

Ripple’s CEO, Brad Garlinghouse, was recently interviewed by Cory Johnson (Chief Market Strategist at Ripple) in an Ask Me Anything (AMA) session that was aired on Wednesday, August 22nd. In the AMA session, Brad and Cory discussed a lot about XRP, Ripple’s products, new employees at Ripple as well as the future of the cryptocurrency and blockchain industries across the globe. The full interview has been posted below for easy access.

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Q3 Could be the Game Changer for XRP

Of particular importance during the discussion, is when Cory Johnson asked Brad Garlinghouse about what his thoughts were with Wallstreet and institutional investors talking about how they want to get into the crypto space as well as the challenges they are facing with custody services for digital assets.

Brad is quoted as stating the following:

One of the things I will tease for a future announcement within the Q3 market reports, which we always share…where we see institutional participation in buying XRP. Q3 will definitely be a record of institutional participation in buying and interest in holding XRP.

Further analyzing Brad’s comments, we can speculate that institutional investors are already buying XRP or plan on doing so in this third quarter of 2018. One question everyone is asking, is why the price of the digital asset has not gone up if these purchases are happening. The answer to this question could be that the Institutional investors are buying XRP Over The Counter (OTC) rather than through the regular crypto exchanges we are used to.

Brad would also add the following with regards to when more institutional investors will get into the space with more vigor.

I thought 2018 we would as an overall industry see more aggressive institutional participation. It has taken a bit longer. Now I would predict that 2019…the railroad tracks are being laid…You are seeing very interesting companies getting started to solve the institutional custody problem. That sets us up nicely for about the back half of 2018 and also 2019.

The institutional custody problems are being solved by firms such as Bakkt and Coinbase custody. According to Mr. Garlinghouse, there is a high possibility of blockchain startups solving more of these custody issues and then partnering or being acquired by Wallstreet firms. This is due to the fact that Wallstreet has a habit of first letting the startups solve a problem, then coming in with the ‘big money’ to fund expansion.

In conclusion, with Bitcoin (BTC) and the overall crypto markets showing signs of stability, Q3 might be the beginning of XRP being great in the markets once again. There is also the added factor of xRapid going live some time soon and further proving the utility of XRP as a source of instant liquidity for cross border transactions.

Disclaimer: This article is not meant to give financial advice. Any opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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XRP, Litecoin Fall to Lowest Prices Yet Seen in 2018

The price of XRP, the world’s third-largest cryptocurrency by market capitalization, fell to a new 2018 low on Wednesday.

Data from Bitfinex shows the cryptocurrency dropped to $0.35 – seven cents from the previous yearly low of $0.42 in July. Indeed the current price stands at its lowest level since December 12, 2017, days before XRP shot up to all-time-highs over $3 amid a bull run on the crypto market.

All told, XRP is now down 89.2 percent over an eight-month period.

Driving the trend is likely not only the wider bear market, but bad press for Ripple, the startup most often associated with XRP, and which continues to be bombarded by bad press and investor lawsuits stemming from the coin’s price decline.

XRP Daily Chart

At press time, the price of XRP continues its downward trajectory – down 11.76 percent over a 24-hour basis according to CoinMarketCap data and down 1 percent on the hour.

As a matter of fact, other major names are also flashing red. For example, bitcoin is down 4.86 percent over a 24-hour period after it dropped from its $7,000 support zone on Tuesday.

Litecoin Daily Chart

Litecoin has also dropped to its lowest point this year, declining 8.78 percent from its previous yearly low at $72.65, making it one of the biggest losers on the day.

Other names such as ethereum and eos are down 6.89 percent and 7.96 percent respectively and are showing no signs of a short-term bullish revival.

Meanwhile, the total market capitalization of all cryptocurrencies dropped below $250 billion –  an amount traders kept an eye on in hopes of remaining bullish.

The Author holds USDT at the time of writing

Image via Shutterstock; Charts via TradingView

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Ripple’s XRP with Excitement Accepted at Bitcoin Superstore: The CEO’s Vision

The daily basis flow of news regarding Ripple’s token asset XRP is a standard in the crypto-verse community. Whenever you type on Google or any search engine Ripple or XRP new information like specific development or partnership will represent itself. This characteristic showcases how hard the team is working to fulfill its CEO’s Brad Garlinghouse vision of the companies financial solutions being adopted global wide.

XRP Bitcoin Superstore

After partnering with Wirex, the company was able to add XRP token support to its Visa card. Subsequently, the number of sign-ups and transactions on the platform had a considerable boost.

The very fine qualities of XRP continue to pull users and firms towards itself with the latest addition of Bitcoin Superstore. Earlier this year, Brad Garlinghouse, the CEO of Ripple said the only way of XRP decoupling from Bitcoin influence is through mass adoption. 

This movement has supported the saying that the token has more utility than predicted and in fact the firm pushed up ahead and donated millions for humanitarian causes and charity. The first feedback was not that big, however judging from the most recent development Ripple is enjoying the last piece of the cake.

With the above announcement by Bitcoin Superstore via their twitter handle, users can almost in an instant complete settlements with XRP while purchasing from different retail outlets. These outlets being the leading ones like eBay, Amazon and others. If you choose to go for this option remember that XRP in the past has given out results of being cheap for both the merchant offering to accept the token and the user.

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Ripple Report: XRP Sales Dropped 54% in Q2, But Customer Base Grew

Payments startup Ripple reported a sharp decline in XRP sales in the second quarter of 2018, when compared to the first three months of the year.

The Q2 2018 XRP Markets Report, published Tuesday, explains that the company sold $75.53 million in XRP, compared to the previous quarter’s $167.7 million – marking a decrease of 54.96 percent. Similarly, overall market volume also dropped in the second quarter, especially when compared to the fourth quarter of 2017 and first quarter of 2018.

Within the $75 million total, however, direct sales from Ripple subsidiary XRP II rose to $16.87 million, up from $16.6 million in the first quarter. Meanwhile, programmatic XRP sales fell from $151.10 million to $56.66 million (down 62.5 percent), and only accounted for roughly 0.125 percent of the global XRP volume.

Ripple still considers the period its “best quarter ever in Q2,” at least in terms of the number of customers signed up. The decline in price over the period largely aligns with the overall bear market, it adds.

“The decline in both volume and price was consistent across the majority of digital assets, as many moved with tight correlation,” the report states, adding:

“The tight correlation is indicative of a market that is still in its infancy. Traders have yet to distinguish among the intrinsic values of the best known digital assets. As the industry matures and decides what it deems most useful and valuable, we should expect to see more separation.”

Ripple also addresses the XRP tokens it is holding in escrow, saying 3 billion were released but 2.7 billion were returned into escrow during the quarter.

The company said the fact that Ripple’s successful quarter, combined with XRP’s price decline, “underscores XRP’s independence from Ripple.”

Ripple, which utilizes the XRP ledger for some of its payment products, notably has been pushing back recently against claims that the cryptocurrency is tied to the company. Chief executive Brad Garlinghouse said last month at a conference that the ledger is not dependent on the company, going so far as to say that XRP is not a security.

XRP image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Is Cardano (ADA) a Better Investment Option than XRP and LTC for The Rest of 2018?

The signs and signals in the crypto-markets are indicating a resurgence of Bitcoin (BTC) to past glory as witnessed in the second half of 2017. By the end of July last year, The King of Crypto was valued at $2,700. Less than 6 months later, and on the 17th of December, BTC was valued at $20,000: a percentage increase of 640%. Could we be headed for a similar rally in 2018?

It is with the latter question that many crypto-traders and investors are looking for investment choices that will bring favorable returns once BTC confirms that this is indeed a Bull run and not a bull trap.

Looking at our favorite options of XRP (XRP) and Litecoin (LTC), the two coins have a lot going on both in terms of still being a favorable investment option as well as what might make crypto-investors to think twice about the two digital assets.

XRP (XRP) has recently gone through a rebranding effort to separate the digital asset from the company of Ripple. This is partly due to the fact that the SEC has yet to classify the digital asset as a security or not. There are also 3 pending lawsuits against the Ripple company that all claim XRP is a security and the Ripple company failed to register the asset as such. The outcomes of the lawsuits are a great unknown that is probably leading a few investors away from XRP.

With respect to LTC, the Litecoin Foundation recently acquired a 9.9% stake in Germany’s WEB bank through a partnership with TokenPay that also touches on Verge (XVG) indirectly. This is due to the fact that TokenPay and Verge are solid partners. LTC is trying to recover from the disappointments of Litepay and the FUD that Charlie Lee sold out on the project. In fact, Charlie has removed the proverbial boxing gloves and is responding to criticism on twitter directly as can be seen when he stated the following:

I’m trying my best to get LTC to $400 so people like you will stop shitting on me all the time. Who abandoned LTC?!

Switching our attention to Cardano (ADA), the coin is looking more attractive by the day. To begin with, there are news of the Coinbase exchange considering the addition of ADA to the platform together with 4 other digital assets of BAT, XLM, ZRX and ZEC. This news sent the values of each of these digital assets to the roof in a matter of hours. A Coinbase addition of ADA would confirm that ADA is indeed a solid investment option for Coinbase has been known to pick only the best digital assets and to provide services geared towards institutional investors.

Secondly, Charles Hoskinson, CEO of IOHK and co-founder of Cardano, recently expressed his vision for the cryptocurrency when he said the following:

I would love to see Cardano as the first trillion dollar cryptocurrency and the reason being is that that would effectively mean that we have built a self-sustaining economy.

Knowing that the Cardano project is driven purely by research, his vision could become a reality in the near future also due to the fact of the stellar team behind the project and platform. When making an investment option, researching who is behind the project, is wise before you buy in. The team at Cardano look like the real deal.

Therefore, it is with these few points that it might be a wiser decision to stock up on Cardano for the rest of 2018 rather than our favorite assets of XRP and LTC. With BTC looking ready to Run with the Bulls, early investment decisions are what make the difference.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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XRP-centric SBI Virtual Currencies Exchange (VCTRADE), Officially Opens Registrations to the Public

The first crypto-exchange fully owned by a bank has just opened new registrations to the public. The SBI Virtual Currencies exchange – simply known as VCTRADE – now accepts new applications or registrations from users that were not part of the pre-registration group from back in October.

In an announcement on the SBI Virtual Currencies exchange, the team at VCTRADE stated that (translated by google):

Information on starting acceptance of new account opening application.

Thank you very much for giving us your expectations for the start of service by many customers.

Starting accepting applications for opening new accounts of our virtual currency exchange service (VCTRADE) from today.

* Account opening is available for individuals from 20 to 70 years old residing in Japan. Applications for establishing accounts from corporate customers are not currently accepted.

From now on, VCTRADE thank you.

Further instructions on how to open an account with the exchange have been provided by the via this link. To note, is that trading services are currently only available to residents in the country of Japan. Anyone who wishes to open a user account with the crypto exchange can now do so through the available sign up link.

Upon launching the SBI Virtual Currencies, the exchange initially supported trading of XRP against the Japanese Yen. However, Bitcoin (BTC) and Bitcoin Cash (BCH) were soon added on the exchange less than two weeks later.

The public launch of the VCTRADE platform comes almost 2 years after the SBI Holdings expressed intentions of building a cryptocurrency exchange back in October 2016. The launch has been postponed a few times due to the firm working on guaranteeing the exchange had enough internal security to avoid hacks such as those witnessed on Coincheck, Bithumb, Conrail and most recently, Bancor.

The opening of the SBI Virtual Currencies exchange is particularly important for the XRP community who believe the exchange will increase the liquidity of XRP as well as help increase the demand of the digital asset further boosting its value.

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Does XRP (XRP) Still Have What it Takes to Edge out both BTC and ETH in the Crypto Markets?

Back in January, and before the Ripple company started getting served with lawsuits, XRP (XRP) was the coin to have. Talk in the crypto-verse was that the digital asset was headed towards first dethroning Ethereum (ETH) from the number 2 spot according to coinmarketcap.com; then going on for the big guy at the top: Bitcoin (BTC). All seemed well underway, especially with the buzz around a Coinbase listing of XRP. However, this did not materialize. But XRP has a few things still going that could catapult it to the top.

Current BTC Dominance. XRP only dictates 6.87% of the total market cap. Source, coinmarketcap.com

Global markets of XRP

Outside the United States, XRP has found a home in the various crypto-trading arenas of Japan and India. Looking at the SBI Virtual Currencies (VCTRADE) exchange, we have a very enthusiastic crusader of XRP who also happens to be the CEO of the exchange and the entire SBI Holdings Firm: Yoshitaka Kitao. The CEO believes VCTRADE will be number one once it is on full throttle in the markets. He also believes XRP is the next global standard of cryptocurrency and money.

Given the discipline and business acumen of Japanese financial firms, it is hard not to believe Yoshitaka Kitao. If his predictions of XRP end up being right, we could see the flippening of Bitcoin happening very soon.

Not too far away from Japan is the country of India. The Reserve Bank of India is currently enforcing a fiat-to-crypto ban that prevents local commercial banks from collaborating with crypto exchanges. This means that the crypto exchanges of Zebpay and Unodax, have decided to introduce trading pairs with XRP as a base. It is therefore only a matter of time before XRP adoption in the country goes mainstream to the point where you can pay for your Chai with the digital asset.

Brad Garlinghouse’s earlier statements

The current CEO of the Ripple company had earlier stated that Bitcoin Dominance could soon end as soon as crypto users started embracing digital assets that solve real life problems. He is quoted as saying:

It’s still a nascent industry, the speculation in the market dominates the trading activity. I think it’s a matter of time until people better understand the different use cases.There’s gonna be a bit of a correction along the way here where a lot of the players in the space that don’t actually solve a real problem are going to get washed out.

This then leads as back to how XRP will be able to edge out both Ethereum and Bitcoin. In the case of Ethereum, the decline of the coin might not be due to XRP but due to the competition in from Tron, EOS and Zilliqa. The threat from these three projects on Ethereum is not in the crypto markets, but with respect to smart contract technology. As more developers choose these three platforms, Etheruem will slowly decline.

With respect to Bitcoin. XRP will simply prove to be more efficient in the transfer of funds. But the flippening will not be overnight as many XRP die-hards anticipate. No. It will be gradual and might even take 10 years.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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XRP (XRP) Rebranding Efforts Continue to Emphasize it is a Separate Entity from Ripple

Crypto traders have for a very long time referred to the digital asset known as XRP via the name of the Ripple company that uses the asset. Initially it was okay to interchange the two names when referring to the coin and the company, but with 3 pending lawsuits against Ripple and a SEC decision looming, it is understandable that the team at Ripple see it fit to clearly distinguish between the two entities.

The Ripple company, via its website and twitter page, has clearly outlined the differences of the two using the infographic below.

The website goes on further to state that:

Ripple, the technology company, and XRP, the independent digital asset, are distinctly different.

Ethereum World News had late last week hinted at the ongoing efforts by the Ripple company to distinguish itself from the digital asset of XRP. One of the factors that had led to this conclusion, was the new XRP symbol evident on coinmarketcap.com. This new symbol is the simple X that was part of an XRP-community effort back in May, to have a unique cryptocurrency symbol for XRP.

New XRP Symbol

One other thing that might be of concern is that the SEC did not include XRP in the list of digital assets it excluded from being securities. Perhaps this is due to the fact that the Ripple company owns approximately 60 Billion XRP with 55 Billion of that amount locked up in escrow.

A declaration of XRP being a security would mean the team at Ripple will constantly be in court to answer to the 3 lawsuits against the company as well as other infractions against securities laws in the US. The other side of the coin is that XRP is also excluded from being a security and life goes back to normal with XRP HODLers celebrating this fact.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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XRP (XRP) To Further Increase Liquidity Through 3 More Listings

The remittance coin of XRP is further increasing its liquidity through listings in 3 new exchanges. These new listings hope to kick start a second half of 2018 for XRP in the best possible manner.

The first exchange to announce that it will be listing XRP on its platform is DX.Exchange. In a tweet, the fully EU regulated exchange announced that it would list the digital asset on its yet to be released platform after it conducted a facebook poll. The tweet that was made on June 4th stated that:

Here’s the winner of our Facebook Poll: @Ripple’s XRP will be available when DX.Exchange launches and an essential part of our community. #exchangeyourway

DX.Exchange will be launched later on this month on July 25th. The exchange is currently allowing for the pre-registration of new users through its website.

The second exchange that announced it will be supporting XRP, is the Australia based, The Cryptocurrency Exchange. The exact announcement via twitter stated the following.

The exchange goes on to state, via its official website page, that they are excited to launch the 5th crypto asset on its exchange: XRP. They will be launching the digital asset with an introductory brokerage fee of 0.1% specifically for XRP. This offer will only last for 2 weeks therefore users are advised to put in their trades as early as July 7th after routing maintenance is complete on the platform.

The third crypto exchange to announce that it will list XRP, is the India based Unodax exchange. In the twitter announcement, the exchange stated that:

Unodax is introducing 17 crypto-to-crypto trading pairs today with three base coins. Base coins are BTC – ETH – XRP.

This move by UnoDax can be understood for the Reserve Bank of India has placed a ban on only crypto-to-fiat transactions that are mediated by banks. This means that there is no fiat-to-crypto conversion (and vice versa) in the country. However, crypto-to-crypto trading is still allowed.

Unodax makes this statement clear via its medium page when it states that the exchange is ready for trading through the base pairs of BTC, ETH and XRP. This is how it will continue with normal operations after the fiat-to-crypto ban in the country.

In conclusion, XRP continues to expand across the globe through the listings on the 3 aforementioned exchanges and not forgetting the equally exciting listing on SBI Virtual Currencies. More listings means more visibility for XRP in the crypto markets, hence driving up demand and consequently the value of the digital asset.

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Another Ripple Lawsuit Claims XRP Is A Security

Distributed ledger startup Ripple is facing another class-action lawsuit tied to the legal classification of the XRP cryptocurrency.

A lawsuit filed in the Superior Court of California (San Mateo County) claims that Ripple “created the XRP token and then used sales of the tokens in order to fund its operations and the development of the XRP ecosystem.”

Filed by California resident David Oconer, the complaint names Ripple Labs, XRP II (Ripple’s licensed money services business), Ripple CEO Brad Garlinghouse and 25 unnamed persons affiliated with the firms as defendants.

The suit claims:

“Here, the XRP offered and sold by the defendants had all the traditional hallmarks of a security, yet defendants failed to register them as such. The purchase of XRP constitutes an investment contract, as XRP purchasers, including plaintiff, provided consideration (in the form of fiat, such as U.S. dollars, or other cryptocurrencies) in exchange for XRP. XRP purchasers reasonably expected to derive profits from their ownership of XRP, and defendants themselves have frequently highlighted this profit motive.”

Like previous lawsuits, Oconer’s filing seeks damages for the price drop from earlier this year, noting that while traditional securities would afford owners some measure of control over the firm, XRP does not. Oconer goes a step further, claiming that Ripple has complete control over the XRP ledger and that the network is not decentralized like bitcoin or ethereum.

The suit comes on the heels of two others with similar claims, as previously reported by CoinDesk. Former Securities and Exchange Commission (SEC) chair Mary Jo White and former SEC official Andrew Ceresney are representing the company in the first suit, though it is unclear whether they will do so for the second and third ones.

Previously, Garlinghouse has publicly stated that “XRP is not a security,” claiming that the XRP ledger is decentralized, independent of Ripple Labs and that purchasing XRP tokens does not give investors ownership of Ripple.

A spokesperson for Ripple did not immediately respond to a request for comment.

Image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.