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If you're bored or tired of reading about Washington's politics, come to the world of cryptography. But be warned, the headlines can be as singularly focused and confusing as anything that happens inside the device. Like Ripple, for example, everyone has been talking for a week. The coming week will probably not be different. All eyes will be on XRP.
Ripple is of course the cryptographic force that offers its payment networks as settlement infrastructure technology to a growing number of major financial institutions such as UBS, Santander and UniCredit.
By using Ripple, banks can bypass the obsolete SWIFT system. This reduces the transfer of international payments to a few seconds from about three days. This could save the banks billions of dollars.
The Ripple XRP token has had its share of criticism, which partly explains why XRP is one of the worst performers this year, from $ 3.65 in March to $ 0.26 on September 13th.
Suddenly on the face
Since then everything has been difficult. It started a few days ago when CNBC hosted Sagar Sarbhai from Ripple. The interview announced that xRapid High Speed was ready for commercial launch. Sagar also presented a list of 120 banks with its xCurrent software.
This sparked a spark that doubled the price of the XRP and caught the attention of almost everyone in the cryptographic community. Strong technical buying signals were flashing. In addition to announcing that two new banking customers (NCB from Saudi Arabia and PNC) had joined RippleNet, all the other fingers indicated the announcement of Sagar's xRapid.
The Business Cloud website then follows all this: RIPPLE CRYPTOCURRENCY AT $ 1 TOUCH THRESHOLD, CEO of PREDICTS, Nigel Green, founder of deVere Group, the world's largest independent financial advisory organization. If that is not bold enough, Green's $ 1 prediction is for the end of the year.
The next SWELL conference invites even more speculation
There seems to be a real substance behind Sarbhai's interview with CNBC. On October 1st and 2nd, Ripple is hosting the SWELL event in San Francisco, California. The event aims to connect the world's leading policy, payments and technology experts for a proactive dialogue on global payments today.
The event will be packed with political scholars, including former President Clinton. It is easy to conclude that Ripple is prepared for a major news event. The speculation is that xRapid will be announced and that a launch date will be assigned to it. If you consider that Bill Clinton's keynote speech could cost Ripple well over $ 100,000, why would he squander his star power on a mere informal discussion?
Look good
It is fair to say that the recent news and the prospects of announcing a possible bomb blast give Ripple a position as favorable as it has been for some time. Who would sell the XRP at this point? The Wall Street Journal reports that Jed McCaleb, one of the co-founders of Ripple and Stellar, "has recently stepped up his sales of billions of XRP chips that he is supposed to own." In 2013, he owned 9 billion XRP chips.
OK, so from time to time, every cryptographic contractor has to pay the rent, but it's not just radical change. To maintain the balance, McCaleb has not worked with Ripple for about five years and, under its blocking agreement, is allowed to sell up to 750 million XRP per year after the fifth year. That should be enough to pay just about any rent. Lately, however, the desire to exit XRP has surpassed the blocking agreement.
Why would anyone sell XRP?
With all the good news coming up and the long-term prospects of Ripple that never looks brighter, who would not want to own the XRP? This is even more curious given the depressed nature of the XRP price.
Anyone with an asset has the right to make independent decisions. McCaleb's plan may contain specific elements that affect the urgency of the sale. However, in Investment Analysis 101, a section says to ask many questions when founders and large internal owners are sellers.
One thing is obvious. After a very frustrating 2018 year, there are more reasons to own XRP than to sell.
Image presented with the kind permission of Shutterstock.
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