[XRP] Ripple Price Continues To Rise – $1 Target Imminent?

Ripple Price has been on a path to recovery over the past week – and one of the biggest benefactors of this uptrend that the markets have been going through. Ripple has shown a day-on-day growth and has risen quite significantly over the week. Here’s a look at Ripple’s price performance over the past 24 hours, over the past seven days – as well as a look at where the price may be heading.

Ripple, which peaked at $3.75 earlier this year – had fallen to $0.4 levels as of April 2018. While it appeared that this downtrend may bring Ripple down to even lower prices, markets entered a recovery phase with a strong uptrend. This bullish momentum has helped Ripple recover – and the prices are now significantly up from what they were when the month began.

Over the past 24 hours, Ripple went from $0.641 to $0.687 – but closed the day at a price of $0.656. Ripple’s market cap started off at a price of $25.0 Billion, peaked at $26.8 Billion and closed the day at a price of $25.8 Billion – gaining $800 Million over the day – which is quite a growth for the currency. Over the course of the past 24 hours, Ripple price jumped up by 2.11%.

Looking at the larger picture, Ripple’s price over the week went from $0.487 to $0.656 with the highest point of the week coming in this 24 hour period at $0.687. Along with Ripple’s price, Ripple’s market cap also grew significantly over the past week. The market cap went up from $19.8 to $25.8 Billion over the week – gaining $6 Billion over the seven day period.

Ripple’s price surge does not end here. The currency is expected to grow at a steady pace over the next few weeks – as the current target, maybe a little too ambitious, is that of $1 before May. However, if the currency continues to grow at this pace – this might as well be achieved in time. Short-term targets of $0.75 and $0.82 are certain and investors are advised to adjust their targets and stop-losses based on Ripple’s movement.

Ripple is arguably one of the most popular cryptocurrencies when it comes to the crypto-markets. The currency is popular not only because of the Ripple network which powers payment processing across hundreds of banks and payment organizations, but also because of the fact that it surged by 36,000% late last year – becoming the first altcoin to cross the $100 Billion market cap.


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Author: Crypto Crimson Staff
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3 Altcoins Likely to Outperform Bitcoin for the Week of April 16

This week has been very exciting with altcoins and bitcoin building momentum for a shift in market sentiment and crypto value. December until early April saw one of the largest corrections in Bitcoin’s history and the upcoming few months should present the perfect opportunity for a rebound of the cryptocurrency space. This week is very important for cryptocurrencies such as: Ripple (XRP), Komodo (KMD), and HireMatch (HIRE).

For the first time in months, the news coming from the crypto space is very positive. FUD seems to have subsided to a significant degree and the rebound from recent lows seems to have already begun. Bitcoin dipped under $7,000 testing the $ 6,000-floor multiple times in the past few weeks.

However, this week BTC has remained strong with very important information coming out of the OTC markets (over the counter), ETFs (exchange-traded fund), and Billionaire’s family offices beginning to trade crypto. Catalysts of this magnitude will propel the entire markets (altcoins and bitcoin) much higher.

However, if the investor is savvy enough they can analyze upcoming market events and try to beat BTC’s returns. During a bull run almost every coin in the crypto space will increase in value, but beating the returns of Bitcoin should be the standard most try to beat. This week has coins like Ripple (XRP), Komodo (KMD), and HireMatch (HIRE).

Ripple (XRP)- BlockBid Listing and Western Union App
Ripple (XRP) is currently trading at $0.64 per coin with a market cap of $25 billion. With a market cap of this magnitude, XRP is regularly a top three cryptocurrency by the total market cap. A major reason for XRP’s multi-billion-dollar market cap is their partnerships with major companies in the finance sector.

Currently, XRP has solidified partnerships with The Bank of England, The Royal Bank of Scotland, MoneyGram, Banco Santander, BBVA, and more recently Western Union. XRP has the most adoption by big banks and finance companies allowing its large market cap to be justified to a degree. This week XRP has two major events that should continue to build momentum behind a crypto that has had a turbulent few months.

BlockBid Exchange is listing XRP and Western Union is releasing their new payment application in the Caribbean and Latin America. The technology behind the app involves Ripple and if the application is well received XRP should appreciate in value. The application’s planned release day is April 18, 2018. Two days prior to the Western Union application XRP has solidified itself as an addition on BlockBid.
BlockBid was an ICO that sold $1.2 million in total coins and was granted a cryptocurrency license in Australia. This allows BlockBid to be one of the few exchanges operating legally in Australia allowing XRP major exposure to an entirely new continent.

HireMatch (HIRE) – Presentation Week
HireMatch (HIRE) is an altcoin with a $3.5 million market cap and an individual coin value of $3.5. Unfortunately for HIRE, they had their ICO concluding right as the market was correcting which drove the value of the HIRE token South, like the majority of other altcoins in the space. With BTC having fallen more than 70 percent during this period of correction, altcoins like HIRE fell even further. With such a small market cap even the smallest publicity provides the opportunity for significant returns. HIRE has very exciting news this week as they have a presentation in front of recruitment giants such as Monster.com.

Tickets to the event where they are presenting cost in excess of $1200 so it is less likely attendance will be an option. With attendance costs being so high it ensures only the highest caliber of individuals from the recruitment field will attend. This event is not solely a blockchain based venue. The event is taking place in Vegas at 11:00 a.m. on April 19, 2018. The publicity surrounding the presentation coupled with any possible partnerships that evolve from it could lead HIRE to an increase in value.

Komodo (KMD) – Decentralized ICO

Komodo (KMD) is an altcoin that specializes in dICO (decentralized initial coin offerings). This is a process that should revolutionize the ICO platforms of the cryptocurrency space. April 17, 2018, begins the first ever dICO token sale, hosted on the Komodo Platform. The BLOC token will commence and officially be declared the first decentralized ICO of the cryptocurrency space. Komodo proudly is shifting the ICO landscape beginning with the BlocNATION token sale.

KMD is currently trading at $3.51 per coin which is over $1.00 higher than where KMD was trading April 7, 2018. The momentum behind KMD is continuing to build as the date of the first dICO is approaching coupled with their revolutionizing the ICO platform. KMD has a market cap of over $360 million which should continue to rise barring any setbacks to the dICO platform.

What makes KMD so unique is the Komodo platform. The Komodo blockchain platform uses KMD’s open-source cryptocurrency for doing transparent, anonymous private, and fungible transactions. A Delayed Proof of Work protocol then makes them ultra-secure by using Bitcoin’s blockchain. The SuperNET ecosystem also uses KMD as their official cryptocurrency. SuperNET is a decentralized organization that develops open-source and decentralized tools for crypto markets. These tools can include anything form decentralized exchanges to multi-coin wallets.

KMD has many projects they are working on including a decentralized exchange, BarterDex, which uses atomic swaps to get passed the pegging of assets to enable the exchanging of coins instantly. dICO (decentralized ICO) is a decentralized platform allowing for the token sale of ICOs using a model powered by atomic swap technologies. This allows for the total decentralized and anonymous issuance and distribution of cryptos using the dICO model. KMD clearly has very advanced privacy technologies they are implanting in the ICO realm and via exchange platforms.

KMD’s dICO platform goes live within the week with BlocNATION being the first dICO hosted by KMD. This week should be one of the most important in KMD history as perfect execution should lead to a continued price climb but any issue may lead to a collapse of market trust.

The Week Ahead
KMD, HIRE, and XRP seem to all have incredibly important events in the next week. With market caps ranging from $3.5 million to almost $30 billion, these altcoins represent coins with small market caps all the way to one of the largest market cap altcoins. Publicity drives demand as it provides exposure to an entirely new population of people that may have been unaware of the existence of a coin like KMD or HIRE.

Publicity coupled with adding utility is why KMD, HIRE, and XRP all should have impressive increased in value this week. With the market continuing to rebound it seems the altcoins with the biggest events on a weekly basis will continue to be highly sought after targets for short-term gains.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Jake the Crypto King
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Ripple Price Technical Analysis – XRP/USD Breaks Key Resistance

Key Highlights

Ripple price made a solid upside move and traded above the $0.5500 and $0.6000 resistances against the US dollar.

There is a short-term contracting triangle forming with resistance at $0.6300 on the hourly chart of the XRP/USD pair (data source from Kraken).

The pair may correct lower in the short term towards $0.6100 or $0.6000 before resuming its uptrend.

Ripple price surged higher and broke many barriers against the US Dollar and Bitcoin. XRP/USD is now placed nicely above $0.6000 and is eyeing more gains.

Ripple Price Upside Move
Finally, there was a solid upside wave initiated from well below $0.5000 in Ripple price against the US Dollar. The price gained bullish momentum and moved above the $0.5000 and $0.5500 resistance levels. The upside move was very strong and buyers were successful in pushing the price above the $0.6000 level. A high was formed at $0.6667 before the price started a short term correction.

It declined below the 23.6% Fib retracement level of the last wave from the $0.5569 low to $0.6667 high. However, the downside move was contained by the $0.61000 support area. Moreover, the 50% Fib retracement level of the last wave from the $0.5569 low to $0.6667 high also acted as a support. At the moment, it seems like there is a short-term contracting triangle forming with resistance at $0.6300 on the hourly chart of the XRP/USD pair. The pair may trade in a range above the $0.6100 support before it makes the next move.

A break above the $0.6300 level could open the doors for an upside move above $0.6500. Further above $0.6500, the price may continue to move higher and it could even break the $0.6600 level.

Looking at the technical indicators:
Hourly MACD – The MACD for XRP/USD is slowly reducing its bullish slope
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower toward the 60 level.
Major Support Level – $0.6100
Major Resistance Level – $0.6300


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Charts courtesy – Trading View

Bitcoin, Ethereum, Ripple And Litecoin: Good Or Bad Investments?

Cryptocurrency experts remain bullish on the future of major cryptocurrencies.
Major cryptocurrencies like Bitcoin, Ethereum, Ripple, and Litecoin have been both good and bad investments. They have been good investments for those who purchased them early on before their big run up, and sold them near their all-time highs, back at the end of last year. But they have been bad investments for those who purchased them near the all-time highs, and either sold them in recent weeks as prices dropped, or continue to hold on to them with heavy losses.

That’s the past. What about the future? Are major cryptocurrencies good or bad investments?

Some cryptocurrency experts say ‘good.’Nathan Worsley, CTO of LocalCoinSwap is one of them, though he sees cryptos more as technological innovations rather than get rich quick schemes. “When you invest in any cryptocurrency you should invest in the technology behind it,” says Worsley.“Crypto is not a get-rich-quick scheme, it’s a technological revolution with the potential to disrupt the fundamental tenets of global financial systems.”
[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. Disclosure: I don’t own any Bitcoin.]
Worsley likes Bitcoin. “Bitcoin is the most battle-hardened network in existence. Bitcoin has withstood the test of time and multiple attacks by well-resourced adversaries,” he says. “It is a cryptocurrency which can be relied upon, and with the Lightning Network in infancy stages great things are coming.”

Worsley is positive on Ethereum, too. “Ethereum is a general-purpose scripting Blockchain founded by one of the greatest minds of our generation. As the foundation for hundreds of other mainstream cryptocurrencies, Ethereum has the potential to one day rival Bitcoin itself.”

What about Ripple? “Ripple isn’t a truly decentralized but lightning fast, Ripple has the power to improve on legacy banking systems and help streamline international money transfers,” notes Worsley.

And Litecoin? “Litecoin, Bitcoin’s younger brother and one of the first true “Altcoins”, doesn’t offer exciting technological developments over the Bitcoin protocol but is likely to be a permanent fixture in the crypto ecosystem for many years to come.”
Oz Sultan, Chief Strategist at CG Blockchain is another bullish expert, bullish on Bitcoin, but not on Ethereum. “Bitcoin’s correction is due to a number of extraordinary market pressures,” says Sultan. “However, it is a definite hold for now. Ethereum has taken a large correction after major market moves across a number of high profile ICO’s and is also facing deflationary pressures from Bitcoin.”

David Sapper, COO at Blockbid is also in the bullish camp. “Whereas the value of some lesser known alt-coins and tokens have the potential to fizzle out, it’s certainly possible that the big players will see another surge in value before too long,” says Sapper. “At which point, those who took the risk during the dip will be richly rewarded for their patience and bravery!”

But John Hagensen, founder and managing director of Keystone Wealth Partners is very skeptical about investing in cryptocurrencies altogether. “It all depends on how you define “investment,” he says. “If an “investment” is a speculative gamble that has the potential for sizable short-term gains or catastrophic losses, then yes. Sure, it’s an investment. On the contrary, if an “investment” is rooted in discipline, strategy, academics, and diversification – with the objective to maximize returns for a stated risk then these are closer to a game of roulette than they are to an investment. Most can remember an evening where they won big at the casino, but does that legitimize placing your 401(k) on the craps table and hoping they don’t roll a seven?
Apparently not. Investing in major cryptocurrencies is an extremely risky game for speculators rather than investors, who can afford to lose part or all of their invested funds.


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Ripple (XRP) May Hit the $1 Again, Faster Than We Expected

Ripple (XRP) – According to a recent global coin report, Ripple (XRP) is the world’s third-biggest cryptocurrency. In January 2018, it enjoyed an impressive sail at $3 per unit. We all expected it to move a digit higher, but a damaging market fall that affected the entire cryptocurrency ecosystem nipped the currency in its bud. In the aftermath of the crisis, Ripple’s value went under $1 and stayed in the regions of $0.50 for many weeks, even after the crisis had receded. Many other currencies tumbled with the crash and are only just recently reviving. There have been ups and downs throughout, but Ripple has held on to remain one of the most preferred currencies.
It is not a secret that the currency is causing ripples in the world cryptocurrency ecosystem again. Even after the tumble, it is still regarded as a centralized gross settlement scheme and keeps on amazing investors. Thanks to its steady increase in value, it has become a household name. If current developments are anything to go by, Ripple (XRP) will attain the $1 mark very soon.

Many investors consider Ripple as the industry’s most scalable digital asset. Over the years, it has taken on interesting ventures. Whether it will hit the $1 mark is now a question of when rather than if. Let us investigate various developments that could push Ripple (XRP) to this milestone.

Events that could trigger a surge in value
In January 2018, Ripple’s CEO Brad Garlinghouse stated that the currency would enter into an agreement with a top money transfer institution. The boss did not explicitly mention the appointed money transfer company, leaving room for the public to speculate. Investors were convinced that it would either be Western Union or MoneyGram.
Coinbase avoided listing Ripple (XRP) in its live trading portfolio, causing Ripple to drop its value significantly. Finally, the news that it would partner with MoneyGram hit the airwaves, and the dip subsided. Ripple lost a huge of its market share, but after confirming that it would partner with MoneyGram, experts expect that the value will increase over the next weeks.

When Cobalt broke news about their new algorithm in March 27th, investors went wild with ululation. You see, the new algorithm means that transactions would be smoother and faster than ever before. With an anticipated increase in user experience, there came a mass adoption of the currency.

Although the new algorithm is still in the process of being integrated into XRP system, investors are already expressing optimism. In addition, banking institutions are encouraging their customers to take advantage of the desirable features. This is a major boost to the currency and is a reason to believe that it will rise faster than expected.
On March 28th, Ripple made yet another major announcement that could further boost its value- its partnership with Hyperledger. This partnership will see Ripple moving from the traditional JavaScript Protocol Ledger (ILP) to the more user-friendly ILP algorithm. The direct result is that the currency will be more desirable to investors and financial institutions alike.

The latest change in the market caused Ripple to suffer a -1.63% loss against the dollar and is currently shifting from the green to the red. Even so, it has been steady against BTC, recording a positive 2.13%, suggesting that Bitcoin is slowing down. As Ripple can now be sold for $0.48 per unit, it remains a relatively attractive market for investors.

Reasons to expect an increase in value
In the recent past Ripple’s top management has made bold announcements that it seeks to partner with central banks around the world. In fact, they revealed that they already sent partnership proposals to more than 40 central banks in America, Europe and Asia. While the game plan is still not well-elaborated, it is an ambitious venture that investors are watching keenly.

Experts regard Ripple (XRP) as a leader in the cryptocurrency ecosystem, even with significant tumbles over the weeks. However, its consistency and evident determination to make trading easier for its customers make it a desirable investment. The following are reasons why we should expect it to attract huge trading, increase value and hit $1 sooner than we all imagined.

Ripple is set to Increase Speed of Transaction – cryptocurrency investors prefer the digital asset ecosystem to its traditional counterparts because of the ease and speed of use. Nobody understands this fact better than Ripple. You can transact in 5 to 8 seconds under their portfolio. Still, the currency feels that this speed could be increased.
It now seeks to reduce the time so you can make a transaction in less than 3 seconds. Indeed, it can achieve its ultimate objective of a 1-second transaction, especially because it has partnered with Cobalt. A decentralized system is what crypto investors want, and they could achieve it, thanks to the famous digital asset security company.

Ripple is Widening its Market – Just the other day, Ripple boldly announced that it was introduced in the Canadian market. With its entry into the northerner country, XRP will trade using both XRP/CAD and XRP/USD, thanks to the hosting of CoinField, a respectable exchange network in Canada.

In the last week of March, Ripple announced yet again that it has established roots in the British markets. It was first paired with the country’s currency, GBT. It has been trading under LBX (London Block Exchange) in the recent past. This audacious and deliberate widening of its market cannot go unnoticed and should stabilize XRP’s value again.
Ripple has Denied ICO Possibilities- The company, through a press release stated that Ripple was not interested in promoting Initial Coin Offering, maintaining its stature as a desirable investment for individuals.

Ripple is Preserving its Performance- Currently, the value of Ripple (XRP) stands at $0.47, a marked 4.3 % decrease in value. A series of ups and downs have caused speculation, but investors have not shied away. Even with these uncertainties, Ripple has still maintained its 3rd position in world cryptocurrency rankings.
The fact that Ripple is paying incentives to be enlisted in various markets plus its recent partnership with a Slovenian metal trading company are other pointers. The company has expressed interest in attending this year’s Global Money Transfer Summit. Finally, its partnership with Allvor ledger makes us all confident of better times ahead.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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First Mobile App Using Ripple Technology has Come to Market!

Some people may recall how Santander UK and Ripple are working together. Both firms want to improve International remittance flows through blockchain and digital assets. The first mobile application benefiting from this new technology is now live on the Apple App Store. OnePay FX lets users send Euro and Dollar transactions in mere minutes, rather than hours or days.

It is good to see Santander UK has come through on their XRP venture. More specifically, the firm acknowledges they are trialing Ripple technology for remittance solutions. Incorporating that technology into existing services and products is not all that easy. As such, the firm introduced the OnePay FX application for iOS. It lets users complete Dollar and Euro remittance transfers in quick succession.

OnePay FX Uses Ripple Technology
This particular application lets users spend up to 10,000 GBP per day. That is quite a steep amount, although it should be sufficient to keep most users satisfied. Users can convert from GBP to EUR and USD through the application itself. They can also see what the final amount to be received will be, to avoid any surprises. It also supports payments to individuals, rather than just companies, which is a nice touch.

This is the first application from Santander, which uses Ripple technology. Although it is unclear if this venture makes use of XRP, it is a positive development regardless. Although the app description doesn’t mention Ripple, it seems evident he correlation is certainly there. After all, remittance solutions can benefit from this blockchain technology in the future.

It is quite interesting to see how the public responds to this development. More specifically, there is a lot of hate for Ripple and XRP among cryptocurrency users. Even so, financial firms are quite keen on exploring this company and its technology. So far, things are coming together for Ripple in this regard. However, there’s still a lot of work to be done in the coming months and years.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Reasons proving Ripple (XRP) will not stay below $1 for Long

From the very beginning, XRP (Ripple) has been working on setting the lead for the cryptocurrency market, and that’s surely a mission accomplished for the company, which in fact, is conceived these days as the one to be followed in the whole industry.
Ripple has been showing some of the most consistent and significant steps on its path, even getting to create audacious strategies that for the rest of the companies seem to be unreachable.

Like so, is the bold move of working on hand by hand with the central banks around the globe, a fact that the company recently has loudly announced when stated they were addressing at least 40 or more of the world’s central banks with partnering proposals.
The game plan is not only well-elaborated, it is also very ambitious since of course, all of the commercial banks respond to their central bank figure, so if we see it through Ripple is targeting to engage as well with all of them. Thumbs-up on Ripple!

Ripple is keen to improve its transaction speed
With cryptocurrencies the faster the better, in fact, one of the reasons why the crypto users love these digital coins is because of the amazing speeds in operations, the main problem that on the other hand, regular financial forms haven’t been able to solve.
In this particular case Ripple has the ground all gained with a platform that allows the users to transact in a short period of time of 3 to 4 seconds, but still, the company feels like they can take it to another level; and to that responds the creation of a brand-new network denominated COBALT.
The new platform will perform transactions in the amazing time period of only 1 second, and even better, it is expected that when the platform is all set Ripple’s security could be improved even further.
Moreover, Ripple made public that COBALT will also manage to decentralize their system, a fact that could grant the company their spot on the Coinbase platform since the famous network only requires is that the coins function in a decentralized way.

Ripple refuses ICO possibilities
Ripple’s ledger is actually one of the most well-deployed among the market, on its decentralized and open-source platform many options are possible, including, of course, the possibility of launching the crypto tokens in it.
However, as recently was know different coders were trying to launch ICOs on the platform, recognizing that the ledger of Ripple is currently the best in the market, nonetheless, the company stated through a PR (press release) that they have no any intention of showing support or even promote ICOs on their platform.

Ripple is making its market wider
Ripple has made it today to finally appear in the Canadian market, the company was listed on the most advanced and important platform of the northerner country, CoinField, an exchange network in which its users will be able to trade using both XRP/USD and XRP/CAD.
The same way, at the end of March, Ripple made it to the British markets as it got its first pairing with GBT (Great Britain Currency) from LBX (London Block Exchange).

Ripple is maintaining its performance
Ripple Inc. has managed to perform in a better way than XRP, gaining more and more partnerships and even accomplishing to grow, an achievement of which, on the other hand, XRP hasn’t even been close to.
As a matter of fact, Ripple (XRP) is currently at a price of $0.47, a value that makes the coin decrease in a 4.3 percent, but in contrast, Ripple has maintained its third position in the market, and this fact let us conclude the XRP value won’t be under 1 USD for so long.

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Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

 

Centralized Ripple is Probably a Security Token

A primary attraction of decentralized cryptocurrencies is that they’re censorship-resistant. The more centralized a coin is, the easier it is for its supply to be controlled. But there’s another problem with overly-centralized cryptocurrencies such as ripple: they risk being classified as a security, which brings all kinds of problems.

How Centralized Must a Cryptocurrency Be Before It Becomes a Security?

Ripple has long been criticized for its centralization. These concerns have revolved around the degree to which Ripple, or its partner exchanges – aka Ripple Gateways – have the power to freeze and reverse transactions. Ripple’s greatest centralization problem may owe less to the way its nodes operate, however, and more to the amount of coins held by the company. Given that Ripple owns the majority of all XRP, the argument goes, anyone buying the coin is essentially buying shares in the company.

Many cryptocurrencies are the product of an incorporated company, but these companies don’t generally hold the bulk of the supply. For months, Ripple was regarded as a stick-on to become the next coin listed by Coinbase. But as news.Bitcoin.com recently reported, “Ripple may not qualify because Coinbase decrees it essential that “the ownership stake retained by the team is a minority stake””. This week, it emerged that Ripple had tried to buy its way onto Coinbase and GDAX, only for its $1 million sweetener to be rebuffed by the U.S. exchanges. There’s a certain irony in a centralized exchange not wanting to accept a coin because it’s too centralized.

 

Exchanges Don’t Want Securities

On Thursday, Binance moved fast to delist centra after the coin’s founders were arrested and the SEC’s investigation into possible security fraud cranked up. Cryptocurrency exchanges don’t want security tokens: they’re a regulatory headache, and exchanges such as Bittrex have already delisted tokens that could be deemed securities. Following its acquisition by Circle, Poloniex is believed to be following suit.  If ripple was to be classified as a security, its sale would be subject to much more stringent regulations in the U.S., making it more akin to a stock than a cryptocurrency.

2018 has been billed by some in the crypto space as the year of the security token, but these tokens will be traded on specialist exchanges that are licensed to sell them, and to accredited investors. Cryptocurrency exchanges have enough regulatory issues to deal with as it is, what with the threat of banking facilities being withdrawn at short notice, without having to worry about the SEC breathing down their necks.

Ripple Has Its Feathers Ruffled

Over the last couple of days, several commenters have crafted scathing critiques of ripple, averring that the cryptocurrency is swimming in security seas. “XRP is a security. Ripple Co is the issuer. Brad Garlinghouse, Chris Larsen, and other Ripple Co executives are subject to the anti-fraud laws under SEC jurisdiction,” opined Lawson Baker, adding “A supposed decentralized cryptocurrency can be a security with enough centralization.” Baker also claims to have assessed ripple using Coinbase’s own listing criteria, and found that there’s a 50% chance of the token being categorized as a security.

Lawson Baker continues: “XRP is definitely not decentralized. Ripple Co creates the common enterprise. Ripple Co initially distributed all of XRP for money. This is the “investment of money” element of Howey Test. Ripple Co and founders control more than ~60% of the XRP in existence. Control is general 10% of voting power in traditional finance. Ripple Co even controls the inflation / dilution rate of XRP”. He finishes: “Security analysis is a spectrum. XRP is the blinding security white light.’”

Ripple Critics Pile In

In a blogpost on April 5, Messari founder and prominent crypto voice “Twobitidiot” joined in, writing: “crypto companies tend to want things both ways. Act like a securities offerer when it’s convenient from a capital formation perspective or when you’re doling out “founders’ rewards”. Pretend you’re actually selling a currency or commodity when it becomes markedly less convenient from an investor disclosures standpoint.” He then went on to ask a series of questions such as “Why does the company write about XRP price appreciation as if it’s a milestone? Why do they do little to tamp down speculation around XRP enterprise adoption?” No, why do they actively insinuate big news is coming by writing things like “XRP markets began to connect the dots once again?”

XRP is by no means the only cryptocurrency that could be construed as a security, but it’s the most high profile, and its knockback by Coinbase has shed new light on Ripple’s business practises. If other crypto projects could spare $1 million cash and $100 million in tokens for a Coinbase listing, many would behave in exactly the same manner. As it is, only a handful of players including Ripple, with the billions of tokens at its disposal, is in a position to make such an offer. Centralized cryptocurrencies aren’t crypto and they aren’t currency either – they’re company stock.


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Author: Kai Sedgwick
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Ripple (XRP) Marketing Initiatives Are Following the Style of Tech Conglomerates

How Microsoft excelled in the computer technology industry, when so many others failed, is an intriguing story in itself. One of the primary reasons is that the technology used by Microsoft has proved to have more usability and durability than the ones used by other firms. However, another major factor that has attributed to the success of Microsoft has been its ability to successfully market its technological ventures.
One of the most successful marketing strategies of Microsoft has been the donation of computers, to low-income school districts in the 1980’s. This earned the tech giant major publicity through mentions in school newspapers, local radio and local television shows. This dissemination of information at grassroots level helped the tech conglomerate create its consumer base and garner significant self-promotion.

How Ripple Has Replicated Microsoft

Ripple has been replicating this marketing strategy of Microsoft with the aim of expanding its consumer base. The virtual asset company has been implementing similar marketing tools, one of which has been the recent donation to a school crowdfunding website called DonorsChoose.org, of an amount of 29 million dollars’ worth of XRP. This particular website is well-known throughout America for raising money for educational purposes such as books, field trips, and other necessary school supplies. Till date, this website has been successful in funding about 1.1 million school projects and reaching out to nearly 27.7 million students.

Ripple announced that this donation is the biggest ever gift made to a single charity in the history of crypto verse. Thousands of requests made by public school teachers made on the crowdfunding website DonorsChoose.org were fulfilled. The official press release of the company declared that this using this huge sum of money, classroom materials was bought for 28,000 teachers of public school across the 50 states of USA.
The founder and CEO of DonorsChoose.org, Charles Best, said that he had approached Ripple on account of the fact that Brad Garlinghouse, the CEO of Ripple has been involved with the charity foundation. A mail was then sent to Ripple executives describing the possible impact of this philanthropic action on the public school system of America. This is till date, the biggest effort made by Ripple to carry out a social program in a formalized capacity. The crowdfunding website, DonorsChoose.org has finalized on the decision of liquidating the donated amount of the Cryptocurrency Ripple into U.S Dollars over the subsequent weeks to ensure that the market price does not get affected at the current exchange rate, this donation is actually worth an amount slightly under 50 million XRP. Had the donation made in January, it would have amounted to only 7.5 million tokens of XRP as the peak global average of Ripple would have been, at that point, 3.84 dollars.

Ripple made the following announcement on its blog site:

“Today marks the first time in 18 years where the total number of projects on our site reads ‘0.’” DonorsChoose said in a blog post. “Thanks to Ripple’s gift, over the next few weeks tens of thousands more boxes full of supplies will start arriving in classrooms across the country.”

After Ripple made this hefty donation at DonorsChoose.org, necessities of 35,600 classrooms will be funded. This donation is slated to send immense product awareness throughout America, a region that has slacked in the valuation as well as knowledge of XRP, even though the entire conversation around cryptocurrency in the country stems from mass media generated FUD frenzy. The announcement of this donation by Ripple has resulted in a significant amount of media traction and national news coverage for Ripple.
Conclusion

XRP now will be used as digital means for paying for books, classroom equipment, technology, and student trips. Basically, cryptocurrency is bound to take over the computer tech industry. However, the general public perception of cryptocurrency that it is just some kind of financial speculation which is filled with schemes to make quick money in uncertain ways. Not many actually understand that the technology of cryptocurrency can go a long way in serving the society while also garnering positive publicity for itself. This donation from Ripple made to DonorsChoose.org will yield in a significant amount of product awareness for the cryptocurrency. This well-planned marketing and social outreach venture will disseminate the real potential of Ripple amongst the general public. This is very similar to the way Microsoft had carried out social outreach programs, thus becoming the leading manufacturer of computer technology and software and essentially a household name.

Source:www.globalcoinreport.com

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Ripple Price Will Go $10.00 Soon

In the last 24 hours, Ripple prices gained four percent while the cryptocurrency market cap added $15.2 billion, demonstrating that investors are feeling particularly generous.
However, the broad trends are still active.

One day’s reprieve does not change the fact that cryptocurrencies are backsliding. Investors are simply terrified of potential regulation, and that fear becomes self-fulfilling—it eventually leads to an avalanche of sell orders.
What I find interesting is that companies react the exact opposite way to potential regulation.
Sure, business owners and Wall Street-types will spout abuse at government ineptitude, but in reality, they view government involvement as a sign of credibility. The anarchy of unregulated markets is too unpredictable for them.
As a result, corporations are eagerly plowing forward with new use-cases now that regulation is in the cards.
This may seem counterintuitive to retail investors, but it really shouldn’t. Remember how hopes of mass adoption sent cryptocurrency prices through the roof? Well, this is what blockchain’s welcoming party looks like: lots of “INCs” and “CORPs”; not a lot of individuals.

Just take a look at these recent announcements:

1 One of Canada’s largest bank considers blockchain for “asset tracking.” In a patent filing, Toronto-Dominion Bank (NYSE:TD, TSE:TD) proposes using a public ledger to reduce fraud in the banking system. It’s odd they didn’t brainstorm this idea last year. Or the year before that, come to think of it. Uncanny that it happened now, just when regulators got on board. (Source: “REAL TME VIRTUAL DRAFT SYSTEM AND METHOD,” US Patent & Trademark Office, March 29, 2018.)

2 IBM meets with central banks about token issuance. In accordance with its work on Stellar’s platform, and with the XLM token, IBM (NYSE:IBM) held closed-door meetings with 20 central banks around the world. They say one of the central banks could dip a “big toe” into the digital currency space this year. Plus, IBM is working on all sorts of “permissioned public blockchains.” (Source: “IBM Is Finally Getting Serious About Cryptocurrency,” CoinDesk, March 31, 2018.)

3 A Malaysian airline is launching crypto-based rewards program. Not only is budget airline AirAsia moving its loyalty program onto a blockchain, it’s also issuing a token that investors can use to redeem their rewards. (Source: “AirAsia is creating its own cryptocurrency as part of its digital shift,” Nikkei Asian Review, March 29, 2018.)
It’s abundantly clear that corporations are embracing cryptocurrencies. I’m simply drawing a connection between that trend, the global push for stricter regulations, and falling cryptocurrency prices. All three are related.
Analyst Take

Try not to see government officials as meddlesome interlocutors bent on destroying XRP prices. More often than not, they are simply technocrats looking to minimize risk and maximize growth. That’s a tough job. So don’t worry too much about our $10.00 Ripple price prediction—we may have to extend the time horizon, but the fundamentals are just as strong as ever.

If this analysis seems overly broad, in the sense that it applies to more than just XRP, it’s because cryptocurrency prices are moving in sync. Until XRP decouples from the rest, we have to describe the macro factors at play.

Source: http://www.profitconfidential.com

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!