XRP is outperforming the market, as far as I can tell this is excitement over Xrapid (Ripple’s answer to the SWIFT network) paired with Bitcoin and Ethereum drama.
Ripple (XRP) is the “cryptocurrency token” native to “the Ripple Network.” The Ripple network (also called “Ripple”) is an open source, peer-to-peer, real-time payment system (like Bitcoin’s blockchain or Ethereum’s network) that can be used to transfer both fiat currencies and the Ripple cryptocurrency XRP.
A lot has happened in crypto in October 2018 despite the price of Bitcoin staying rather stagnant. Let’s do a quick review of October 2018 so far.
XRP took off running over news of XRapid and almost every other crypto followed suit this week.
CryptoVest.com did a study that showed international transfers of Bitcoin were 1,000s of times cheaper than international wire transfers of USD.
XRapid is a liquidity solution for banks that uses Ripple’s XRP as a bridge currency and is being developed by the company Ripple. According to Ripple, XRapid eliminates delays in global payments while also dramatically lowering their cost, thus making cross-boarder payments instant and inexpensive.
XRP has been on a run for the past few days. This is likely due to excitement over the upcoming xRapid system. To understand why that is the case, you have to understand what XRapid is and how it relates to XRP.
Bitmex is a crypto derivatives exchange that uses high leverage and margin trading and is open to many non-U.S. citizens. They have been the highest volume exchange in the 2018 bear market.
Let’s look at some of the top cryptocurrencies that aren’t Bitcoin. Longstanding popular alternatives to Bitcoin including ETH, ETC, XRP, XLM, LTC, XMR, ZEC, NEO, and DASH. New top coins include BCH, EOS, ADA, IOTA, TRON, and ZRX.
On August 20, the Bittrex cryptocurrency exchange is launching US dollar (USD) markets for Ethereum Classic (ETC) and Ripple (XRP).
There is a ton of bullish news for crypto this week (for example Starbucks entering the crypto space) despite a correction that started over a panic over a Winklevoss ETF no one cared about until it was suddenly rejected again.