Ripple’s xRapid Goes Live — Leading The Way For Cryptocurrencies
Happy Monday to all, I hope you all enjoyed a wonderful weekend. A quick update on the markets before we get into today’s article. Many of you who have come to our blog may ask what is a cryptocurrency? Let us kick start your journey by giving you a cryptocurrency investment strategy that could make you some serious money! The markets saw a predicted fall over the weekend with the market capitalization still holding below $220 Billion.
Bitcoin is still hovering around the $6,600 level, seeing very little price action. You can plot a chart and see that BTC simply hasn’t moved over the past 30 days. ETH, however, has seen a slight recovery from worrying lows to settle at a price of $220, nowhere near its major highs, but has broken and consolidated from its major low.
Today’s article has a very different focus than my usual articles, the reason being that the there is one cryptocurrency leading the pack and dominating areas of utility and real-world impact, Ripple’s XRP, so today’s article will focus on: What is Ripple; XRP and Ripple; xRapid and its impact; How to Invest in XRP; and How to Trade Ripple’s XRP.
Ripple could be the best cryptocurrency investment this year, and so I wanted to bring to light some of the key concepts surrounding this cryptocurrency. My name is Richard Baker, and to get the latest cryptocurrency news: Email me at Richard.Baker@PlatinumCryptoAcademy.com.
WHAT ARE RIPPLE AND XRP — THE RELATIONSHIP EXPLAINED
Ripple (XRP) is currently in the top 3 cryptocurrencies in the world. Boasting a market cap of $19,204,803,857, and trading at $0.480897 per coin. Ripple can be found on most exchanges and has a trading volume of $512,788,660. XRP, having experienced highs of $3.92 a coin, has the potential to be a great addition to your portfolio.
If you have been following the crypto world you won’t have missed the real following and media exposure Ripple and XRP are getting at the moment, especially because of the recent implementation of their xRapid solution.
So for all you beginner Crypto Enthusiasts, you may be asking what is Ripple/XRP, what does it offer, and why should I add this to my crypto portfolio?
The easiest and most basic way to explain what Ripple and XRP are trying to achieve is by providing an example.
Have you needed to transfer money from one part of the world to another?
If you have, either for personal or business use, you’ll have found that it’s a painfully long process which might take days or even weeks depending on your location. Ripple/XRP, the world’s third-largest cryptocurrency, now has a working and tested solution.
Explaining the goals of Ripple/XRP is simple: To aid in global payments, and become the world’s leading solution for payment transfers. Many of you will have used ‘Swift payments’ and have realized the process is arduous, and far from instant.
Ripple claims its products are cheaper and faster than more conventional money transfer systems, but it also touts them as generally more efficient than the services in the marketplace today.
RIPPLE AND XRP
Ripple, the tech company, also offers 3 services within their ‘RippleNet’ platform, namely, xVia, xCurrent, and xRapid.
RIPPLE’S XCURRENT SOLUTION
xCurrent has been widely publicized as there are some major banks and institutions using the solution, namely Santander and American Express. xCurrent allows the speed of checking information required to make transactions to be made much quicker this solution, although gaining traction doesn’t require XRP to function.
RIPPLE’S XRAPID SOLUTION
One of the most widely talked about solutions over the last year in the cryptocurrency world is Ripple’s xRapid, a product aimed at institutions that have business in emerging markets. However, when XRP is traded through xCurrent, Ripple defines that as a new product called xRapid and this is what has been touted as a game changer in the cryptocurrency world.
As we all know, payments into emerging markets often require pre-funded local currency accounts which mean businesses or individuals have to have domestic currency stored in the geographical location, as such, liquidity costs are high. xRapid solves this problem and is classed by Ripple’s CEO Brad Garlinghouse as a liquidity solution.
“I’ve publicly stated that by the end of this year I have every confidence that major banks will use xRapid as a liquidity tool,” Brad Garlinghouse, CEO of Ripple.
How this works is the money would be sent into the xRapid system, converted into XRP to move it through Ripple’s product, then be converted into the desired local currency. Boasting a four-second transaction time, this is far quicker that than the current services which could take several days to complete a similar transaction.
This also means by companies using XRP to transfer funds will mean a creation of demand on the public market for XRP!
TRADING AND INVESTING IN CRYPTOCURRENCY
At the Platinum Crypto Academy, we look to trade and invest in Cryptocurrencies we see have real utility and real opportunity to make significant gains.
CRYPTOCURRENCY INVESTMENT STRATEGY
How to invest in Ripple’s XRP is fairly simple, as its one of the top cryptocurrencies in the world is it very accessible, you can purchase XRP direct using FIAT [USD/GBP/EUR] currencies through well-known wallets and sites similar to Coinbase, or you can directly exchange your BTC/ETH for XRP using 90% of the exchanges in the market. An exchange like Binance, Bittrex, Poloniex and many more can be used to complete XRP purchases.
Storing XRP can also be very simple, either on a paper wallet, online wallet like Coinbase or you can keep your XRP on an exchange for quick and easy access.
HOW TO TRADE RIPPLE’S XRP
At the Platinum Crypto Academy, we educate our members on how to technically analyze the market as well as read the fundamentals and the volume of the markets.
Here is a premium trade we have this week on XRP!
WHAT’S GOING ON
The World Trade Organization (WTO) recently warned that Ripple’s xRapid technology has the potential to disrupt the global financial system, potentially looking to transform global commerce by making it faster and effective. This, combined with the recent successful test results from major institutions, provides a very bullish sentiment.
XRP/USD, THE TECHNICAL PICTURE
Looking technically, XRP/USD is capped at $0.4860. Ripple is now a longing option due to its previous bullish move, now the pullback to the 38.2% Fibonacci level is a pullback point for a continuation back towards the 61.8% Fibonacci level.
It’s rare that I write a piece about one particular coin, but it’s also rare that one coin offers such fundamental clarity in its vision to achieve its goals. Not many projects in the cryptocurrency space can boast having customers like Santander and American express.
With that in mind, I hope through today’s article you’ve gained a deeper understanding on: What is Ripple’s XRP; How Ripple’s solutions like xCurrent and xRapid are disrupting the financial structures and processes that have been in place for decades; and How to Trade and Invest in XRP.
Do not miss out on this opportunity to learn about Crypto investments with a real Cryptonaire! Fill out your one to one consultation today!
If you are new to the cryptocurrency world and want to know how to start profiting from coins like XRP, I urge you to not only book a free session with us but to also download our trading guide.
If you are a more seasoned trader in the crypto space, but are struggling in the current bear market to come out with any significant profits each month, then I would suggest getting in touch with one of our Portfolio Specialists who will do a free analysis and appraisal of your portfolio, and help you turn the corner into profits!
If you’ve booked your session above, we look forward to speaking to you soon! Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day!
Live from the Platinum Crypto Trading Floor.