RIPPLE - $5,608,710,000 - 0.27% Increase in Change(24hr TILL NOW)
On Thursday, Ripple announced a tie-up with Dallas-based money transfer giant MoneyGram.
In a statement, Ripple CEO Brad Garlinghouse described the MoneyGram tie-up as a strategic one, and said it would demonstrate XRP’s ability to lower costs for money transfers between friends and families.
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Entry: Break or 1.64189
Target 1: 3.50833 (113%)
Stop Loss: 0.84238 (48%)
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My point is that RippleLab and IOU ledger can exist without XRP token. All this big rises and falls are made by people, which do not know what they buy.
The entire purpose for the XRP coin is to run on Ripple's platform to clear transactions and settle within seconds, providing instant liquidity for banks. The XRP coin also saves banks a lot of money, so it would be pretty irrational for a bank to only use Ripple technology without the coin. A lot of myths out there about this, so just ensuring people are getting the correct information here.
The banks will be using crypto currency also, and many of them are investing seriously in the crypto market. I totally understand that people want to get rid of banks, however I think we need to be slightly honest in regard to the timing on all the banks closing because of crypto currency. I don't see Ripple and XRP as some type of inflated coin or valuation since it's clear they are not only partnered with American Express and Money Gram, but over 100 other banks (3 of which are the top banks in the world). The fundamentals clearly support the market cap since XRP is entering a market that transacts over a trillion dollars per day (international currency settlement). Completely different business model than Bitcoin and the rest of the alt coins.
MoneyGram is the first company which talk about XRP. All other financial institutions uses IOU (gateway). They do not even touch XRP. XRP is used only as a layer for transaction. XRP is not a coin and never claims to be.
Low cost transactions are not related to XRP, but to IOU. Banks uses IOU to transfer valued goods in instant real time settlement. They can transfer FIAT, XRP, Bitcoin, and etc. But for now XRP are provided only for public. Bank do not mess on that. Moneygram are first to test XRP.
I do not see a reason to use it. They can transfer USD to EUR as example in seconds using IOU. Nobody needs XRP for that.
This is speculative market. XRP does not really contain any value. RippleLab is valuable company. It is good to invest in it.
Also, Ripple confirmed last week that 3 of the largest money transfer firms in the world will be using XRP, not just the ripple technology. I understand that the technology can be used without XRP, however there obviously is a cost benefit to using XRP with the technology if the largest money transfer companies in the world plan to use it.
***Three of the top five money transfer companies worldwide will be implementing Ripple’s XRP into their payment flow systems this year, the company said in a tweet Thursday.
I think all of you did not understand what actually is XRP.
The fact exchanges list it as a currency does not make it currency.
The fact that everybody talks about ripple, do not mean XRP.
1 XRP = 2.21 USD
1 XRP = 1.77 EUR
Bank 1 send to IOU of Bank 2 - 2.21 USD. Bank 2 receive 1.77 EUR.
XRP is in the middle, it is only a reference. The fact that it can be used as a crypto currency because technology is the same as other crypto does not make it currency. It's value does not mean nothing.
There is not a big financial company that use XRP. No one of them holds XRP to keep value.
RippleLabs never talk about XRP as a currency. They did not say it isn't just because they hold 60%. The fact that XRP is circulating in exchanges means that IOU technology not need it actually.
However it is good when people believe that XRP cost something. When there is a news that makes everybody believe it will raise to the new ATH - it will do that. And this is the only one reason I hold some XRP.
I do not believe that XRP cost something. But I believe that people will make it cost something.
I was thinking a lot, and the only one reason that makes XRP valuable is the fact that it is trade-able in exchanges. IOU accept XRP, so XRP is something as a bridge between FIAT and CRYPTO.
Transactions with BTC is very very slow. But you can exchange them for XRP and transfer then in seconds, then BTC can be bought again.
Ripple does not have that fundament. There is no critical price level needed for existance of network.