4 Reasons to Be Bullish on Ripple
Image: The new Western Union app is rumored to be based on Ripple. WU has not confirmed it yet, if they do it will be a big news event.
This is a guest article by Cameron of the cityofhype.com - domain that sounds very Ripple but check them out, they are not at all one-sided when it comes to finance. Cameron is a finance analysts and investor in currencies and securities.
1 - Uphold and The London Bank Exchange are Using Ripple
Uphold is a major cryptocurrency bank that allows someone to buy and hold their Ripple token for no transaction fee. The Ripple token can be converted into 7 other major cryptocurrencies and 23 fiat.
The London Block Exchange is the only crypto exchange in the UK. Due to the importance of the exchange, by adding Ripple to the roster its price is set to increase.
2 - Netherlands Central Bank Will Be Using Ripple
Ripple is already being used as a payment system by two major American banks and a German bank. Netherlands Central Bank has shown interest in Ripple’s system and will be using XRP. Ripple is the most suitable payment system they can use because of its efficient payment protocols.
3 - Western Union’s Ripple App
Ripple has long been partners with Western Union. The two parties have been working together to create a product for fast monetary transactions since.
The rumored outcome of their partnership is the Western Union App with zero transaction fee. The app has launched in the past days and while Western Union have not confirmed it, it is supposed to utilize the Ripple network as the layer through which users send funds.
The rumors seem quite plausible as the app enables payments across the world at any time any day - it seems a cryptocurrency must be involved here.
If the rumor is confirmed, the use of the app would in turn bring the price of the XRP token up. It would also make it more likely for Ripple to stay afloat in the long run.
4 - Holding Coins Back
Ripple is making waves in the finance world with its collaborations with major financial brands. The main reason why Ripple price has not shot through the ceiling is due to the payment settlement software created by Ripple, so XRP coins don’t have to be used. Nonetheless, investors in Ripple believe the future will see a boom in Ripple price.
Arguably, over the next few months it will be a crucial time for Ripple to prove itself in the market. If you want to bet on that, now is a good time to purchase the XRP token due to its cheap price.
This is a guest article by Cameron. Views expressed in this article are author's own.
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About the author
Written by Cameron
Cameron is a writer at cityofhype.com, a portal (not only) about all things personal finance. Cameron is a finance analysts and investor in currencies and securities.
Opinions are author's own.