The US Securities and Exchange Commission (SEC) could kill the fourth-largest cryptocurrency Ripple (XRP) with a lawsuit. The organization behind Ripple; RippleRead more
The Flare Network is an attempt to integrate Ripple with the larger cryptocurrency universe. Beyond that, I think the Flare Network is an effort to use Ripple’s Network to move and transfer assets.Read more
Investors and speculators need to watch Ripple (XRP) closely because its potential American exit could mark the beginning of a paradigm shift.Read more
Thus, Ripple could achieve mass adoption but Bitcoin (BTC) could not. Given those possibilities, Ripple could have value.Read more
Therefore, Ripple Labs is already accomplishing some of Mark Zuckerburg’s goals for Libra. However, Ripple is attracting none of the controversy and hysteria Libra has generated.Read more
First, when Bittrex initiates a payment between the US and Mexico in xRapid. Second, it sends the payment through Ripple’s XRP Ledger to Bitso. Third, Bitso converts the XRP into Mexican Pesos in its Mexican Peso liquidity Pool. Fourth, it settles the payment into a Mexican bank account.Read more
The success of Bitcoin Cash (BCH) demonstrates that older cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have little future inRead more
For example, Stellar.org wants to offer low-cost remittances. Remittances are cross-border cash payments people send to friends and relative in other countries. Speculators should note this because remittances are an enormous business.
Notably, the World Bank estimates remittance volumes hit a record high in 2017. For instance, the volume of remittances to low and middle-income countries increased by 8.5% in 2017. In detail, people sent $429 billion in remittances in 2016, that figure grew to $466 billion 2017.
More importantly, the total volume of global remittances reached $613 billion in 2017. All remittance payments grew at a rate of 7%, rising from $573 billion in 2016 to $613 billion in 2017.
Stellar.org plans to cash in on remittances by combining them with mobile money. Ultimately, Stellar.org will build a payment network that allows people to send remittances directly to phones in other countries.Read more
Instarem and RationalFX, are building RippleNet corridors between the United Kingdom and Malaysia, Vietnam, Sri Lanka, Bangladesh, and Indonesia.
Furthermore, Remitr and FlutterWave have built the first cryptocurrency remittance corridor between North America and Africa. Notably the two companies have established RippleNet corridor between Canada and Nigeria.
BeeTech and InstaReM are reportedly building RippleNet corridors connecting Brazil with Spain, Portugal, Germany, France, and Portugal. Obviously this is big because it links a major emerging market (Brazil) with the Eurozone.
In addition, MoneyTap has built a RippleNet remittance corridor between Japan and Thailand. MoneyTap’s solution reportedly includes an app designed to enable Ripple (XRP) transfers from Japanese banks.
MoneyTap is a potential game changer because it offers a revolving line of credit based on digital currency accessed through a smartphone. Moreover, it is possible to send funds to a MoneyTap account in Thailand from an ATM in Japan.Read more
Given these points, speculators should watch closely to see how central banks react to Ripple. Ultimately, Ripple’s fate is in the central banks’ hands. If central banks accept it; Ripple can become the most valuable cryptocurrency around.
Consequently, a central bank could increase Ripple’s value by using it. Conversely, a central bank could destroy Ripple (XRP) by banning or suppressing it.
Ripple is interested in remittances because they are big business. The World Bank calculates that people sent $613 worth of remittances in 2017. Significantly, the volume of remittances grew from $573 billion in 2016 to $613 billion in 2017.Read more