Connect with us

#Ripple

SWIFT vs RIPPLE: Rivals not Partners

Published

on

Ripple enthusiasts around the world have been debating on the possibility of Ripple and Swift partnering with each other but it could eventually turn false.

Ripple enthusiasts around the world have been debating on the possibility of Ripple and Swift partnering with each other. Earlier, we had analyzed how they are surely going to partner with each other considering the different perspective. Recently, however, it seems that the following possibility could eventually turn false as both of these companies are working hard, not for a partnership but to rather compete with each other.

 

Swift clearly says ‘No’ for a partnership with Ripple

According to an article published on the Finance Magnates, a spokesman of Swift clearly denied any future partnership with Ripple by stating that he does not know where the rumors are coming from and that the upcoming new releases or software updates in the Swift network is not related to RippleNet at any cost. The upcoming standards will ensure the use of tracking reference (UETR) in all payments or transactions allowing backs to track their GPI payments in real-time.

 

Ripple denies too:

Ripple’s chief market strategist, Cory Johnson clarified that the aim of Ripple is to offer a product to directly compete with Swift and eventually replace it. This was revealed by Steven Diep in a tweet on January 3rd this year about his interview video with Cory Johnson stating that Ripple is meant to replace Swift and that the customers of Ripple are using both Ripple as well as Swift at the moment.


Do you think Ripple can replace Swift in the near future keeping in mind the massive amount of customers that Swift already has? Tell us your thoughts in the comments section below.

#Ripple

XRP Updates: What Ripple really needs to do right now?

Published

on

What we really need for XRP more than just price catalysts and more ways to speculate on the price is actual adoption and use.

The National Bank of Kuwait has opened up direct remittances with Jordan using XCurrent but not XRapid. Ripple has many major banking partners with some of the biggest and powerful banks in the world. A lot of these huge banking institutions like XCurrent but no one is really using XRapid yet. What Ripple needs to do is to get people to really use the XRP token. It is very important for the future of the XRP ledger. It’s nice that the banks are using Ripple’s software XCurrent, but for the benefit of the XRP holders, XRapid is the innovation that is needed to be adopted.

 

Regulations:

A big thing holding back wider use of XRP is of course regulations. Regulations in so many countries are holding back basically what could be a tidal wave for XRP. So as they continue to work through these different regulations in multiple jurisdictions all around the world, we will see more and more of these banking partners actually hopping onboard and using the XRP token but it might take some time before that can actually happen. Although not at a large scale still there are some use cases of XRapid currently in areas such as Philippines and Mexico.

Ripple has also been working on getting a lot of exchange partners for XRapid such as Bittrex, Bitstamp, Coins.ph and Bitso which are all working to help bring XRapid to life. For XRP to get to the next level it has to get used by the banks but the banks out of regulatory fears or conservativeness, they are using XCurrent and not XRapid or the XRP token yet.

 

XRP as a base currency on Binance

Binance has added different pairs with XRP as the base currency. Currently, it is paired with only TRON and Zcoin at this time. As time moves forward, we are surely going to see other pairs such as XRP to Litecoin or XRP to Cardano. Although the news does not seem exciting it is really important that XRP does get added in terms of creating value for XRP because the more trading pairs we have, the more volume we are going to have and more people are going to be exposed to it.

 

Large Accounts moving XRP

We have seen some very big accounts pushing a lot of XRP around in the tunes of 90 million XRP or 70 million XRP which are not owned by the company but large whales who are moving it around and probably some of these would be looking to move it to exchanges to dump it into the markets.

 

Uphold’s XRP holdings

Uphold has announced that their largest holding ahead of bitcoin is XRP which shows that there are a lot of XRP enthusiasts who are using uphold. This may be a continuing trend for a lot of different exchanges as XRP is one of the most popular cryptocurrencies.

 

Nasdaq and XRP:

When the Nasdaq cryptocurrency exchange gets launched it seems that XRP would be one of the tokens listed there. This could be a very big catalyst for the price of XRP.

 

What we really need for XRP more than just price catalysts and more ways to speculate on the price is actual adoption and use.

Continue Reading

#Ripple

Ripple Whale Alert: 20 million XRP transferred to Bitfinex. For selling?

Published

on

20 million Ripple were transferred to Bitfinex exchange which may be for selling in order to invest in some other digital asset which is in a bullish phase.

After being bearish from more than a month, the cryptocurrency market has started to recover from the last three days with major cryptocurrencies such as bitcoin rising more than 25% in the last three days. All top 10 altcoins are green colored today with bitcoin cash rising more than 57% in the last 24 hours except for XRP which is still in a 1% loss since yesterday. Ripple is trading around $0.367 according to CoinGecko Chart. Around three hours back 20 million Ripple were transferred to Bitfinex exchange which may be for selling in order to invest in some other digital asset which is in a bullish phase. Here are the details of the transaction:


 

 

Around $7.5 million worth of Ripple (20,000,000 XRP) transferred from unknown wallet to Bitfinex:

https://bithomp.com/explorer/BE596BF80F52E38786D2092F29358927042C42EF10DE208CC42C585BB5B5A531

 

The following article is not financial advice. The readers are advised to do thorough research and analysis before making any investment decisions in the cryptocurrency market which is extremely volatile.

Continue Reading

#Bitcoin

Will XRP overtake Bitcoin to become new king of cryptocurrencies?

Published

on

Can XRP take over Bitcoin in the total market capitalization with the massive adoption of XRP by financial institutions all around the world?

XRP is often called as ‘banker’s delight’ and banks love XRP as it has hundreds of partners globally with many of the world’s biggest names in banking. Banks are actually tired of using the SWIFT system which it turns out is not that swift. XRP can seriously put the heat on swift and provide money savings and transparency at every level. Bitcoin with its 10 minute block time and unstable fees can be a bit problematic when it comes to this but bitcoin is a massive improvement over the previous architecture and the banks themselves. Can XRP take over Bitcoin in the total market capitalization with the massive adoption of XRP by financial institutions all around the world? Let us make some comparisons.

No Forks

Another benefit of XRP is no forks. A real company with a real office run by professional people that you can contact if you have a problem. The whole bitcoin forking thing has been a very device issue in the crypto community and has done little to give large businesses any kind of confidence in the crypto economy especially when they are new to the crypto economy.

 

XRP a ‘security’ issue

XRP might be a security and is currently being litigated in the courts but until this is resolved there will be this uncertainty around XRP in the likelihood of seeing things like XRP futures, XRP ETF or major banks stockpiling XRP.

 

Proof of Work

While there have been many criticisms of the Proof of Work network including the massive burn rate of hardware and the huge environmental footprint in terms of energy consumption, we could do a whole host of what about the bitcoin energy use, but the reality is that the XRP ledger uses less energy than bitcoin. The long-term trend of Proof of Work mining and Bitcoin mining overall will at some point have some explaining to do as currently, we do see a lot of projects moving away from the proof of work networks.

 

Banks don’t like bitcoin

The Banks around the world really don’t like bitcoin and sure this is a badge of honor for bitcoin but the theory goes that they will actively work to suppress and hurt bitcoin. With the big Wall Street products coming specifically targetting bitcoin, it appears that the banks want to profit from bitcoin, not to crush bitcoin. The love and hate relationship of banks with bitcoin is currently in a love period. Interestingly both bitcoin and XRP could be put under real pressure by an influx of national cryptocurrencies or even more worrying  for XRP, the banks implementing their own solutions. As of now, banks are loving the solutions that Ripple Labs are putting forward for them to use. It is much easier to implement someone else’s technology rather than build your own technology especially when it comes down to interoperability between hundreds of different international banks. XRP is not unique in this, other payment providers use bitcoin or stellar lumens to do the same thing that is done with XRP. The difference is of course that Ripple’s network and banking partners are huge. But then banks do not actually hold and stockpile XRP, they can actually just quickly move in and out to do transactions. But just because banks don’t need to stockpile XRP doesn’t mean they won’t. Previously, a report was published about South Korean banks which are currently holding around 1% of all cryptocurrency.

 

Daily Transaction Volume

In terms of daily transaction volume, XRP has dropped back to around half a million daily transactions from recent highs of 1.6 million daily transaction which is well ahead of bitcoin’s quarter million daily transactions. But don’t forget that the lightning network is still in its baby phases and so far away from reaching critical mass so we should really not underestimate the possibility of the lightning network to seriously disrupt this narrative around daily transactions in the future.

 

Transactional Fees

On the fees side XRP is consistently way lower than bitcoin with bitcoin having unstable network fees but again lightning network is coming.

 

Circulating Supply

Ripple’s control over the XRP’s supply vs bitcoin’s code based emission is another area of concern for many investors. As much as some people may want one or the other to fail. But it doesn’t seem that any of these are going anywhere unless XRP is deemed to be a security. But if XRP is declared not to be a security then maybe XRP can rise massively.

 

XRP is crypto and banking coming together. For some, it is like a dream come true and for others, it just gives them a headache as the true aim of cryptocurrency was to destroy the banks and not join them. If XRP ever does get mass adoption by banks and manages to have a larger market cap by bitcoin. Would this mean an end for bitcoin? Certainly not. The use case of XRP does not eradicate the use case of bitcoin.

 

What are your thoughts about XRP and its adoption by banks? Tell us in the comments section below.

Continue Reading
Advertisement BitcoinAdvertising.com

Live Crypto Prices

  • BTC
  • USD
  • AUD
  • CAD
  • EUR
  • BTC
    Bitcoin(BTC) 3587.16854252
  • ETH
    Ethereum(ETH) 117.523806856
  • BCH
    Bitcoin Cash(BCH) 123.377542644
  • EOS
    EOS(EOS) 2.3780744776
  • LTC
    Litecoin(LTC) 31.1746766613
  • TRX
    TRON(TRX) 0.0250761863
  • ADA
    Cardano(ADA) 0.0431897944
  • DASH
    Dash(DASH) 70.0641206522
  • XEM
    NEM(XEM) 0.0558155417

Trending