🔥 TOP STORY
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

Ripple News - Stellar (XLM) Price Soars After IBM Announcement, but Ripple Is Not Going Anywhere

  • Alex Morris
    📰 News

    Everyone is suddenly certain that the IBM-Stellar tie-up poses a major threat to Ripple. Here’s why it’s not the case

Stellar (XLM) Price Soars After IBM Announcement, but Ripple Is Not Going Anywhere
You may also like:
Contents

Stellar (XLM) experienced a sizable uptick after the IBM news. However, one shouldn’t jump to conclusions and already claim that IBM’s new partner can replace Ripple.

👉MUST READ Ripple XRP Price Prediction: Major Financial Services Group Sees XRP Exceeding Bitcoin’s Market Cap
 

The power of IBM  

IBM, the US legacy tech giant, announced Tuesday that it plans to onboard 40 banks with its Blockchain World Wire. The Stellar-based cross-border payment solution, according to IBM’s Jesse Lund, will be available in approximately 50 countries. Lund neither specified the names of particular banking institutions nor offered more pertinent details about the timing of the rollout, but his words alone made the XLM price spike 36 percent. At press time, XLM occupies eighth place on CMC with its price sitting at $0.089.

The power of IBM  

A premature overreaction?

The comparisons between Stellar and Ripple were imminent given that both of these projects are striving to tackle the same problem — the inefficiency of cross-border payments. Unlike the XRP-centric RippleNet, Blockchain World Wire will support a slew of different cryptocurrencies.

However, Ripple isn’t likely to cede ground to IBM despite what the doomsayers have to say. RippleNet has already connected more than 200 banks around the globe, and major cryptocurrency exchanges in the likes of Binance are interested in utilizing xRapid. Sure, Ripple currently only has a modicum of the $2 trln cross-border payment system, but real-life adoption is already there.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
👓 Recommended articles

Ripple News - XRP Price Predicted to Stay in a 4-Cent Channel — What Needs to Happen for Coin to Rally

  • Jack Thomas
    🤷 Opinions

    ✋👀🔥XRP’s price has found a spot between $0.30 and $0.34 that it is having problems breaking above, as well as below; what can trigger a move?

XRP Price Predicted to Stay in a 4-Cent Channel — What Needs to Happen for Coin to Rally
You may also like:
Contents

Ripple and its native token XRP have had a busy time in 2019 with a number of big and key partnerships being formed, however, the movement in price of the token has been relatively disappointing, getting stuck in a channel of about four cents.

Ripple has been aiming itself at being the best answer to a digital asset that can be used in interbanking conditions as well as across borders; because of this, the company has been seeking out major companies and financial institutions to align itself with.

This is a good move from a cryptocurrency and blockchain startup, showing positive growth along its roadmap. However, even with these good news boosts, the price of XRP has struggled to move out of this spot between $0.30 and $0.34.

Things like being listed on Coinbase Pro as well as popularity across investors in the general market have hardly shifted the price, so the question needs to be asked: what will it take to move and shake the XRP price?

No news boost

Ripple’s performance has been dismal and lagging in the last few days. On the one hand, there are expectations that prices will head higher once Bitcoin recovers, but Ripple itself will not want to be so tied to the decentralised major cryptocurrency.

It has been building its own base up with the Coinbase listing and plans of venturing into the multi-billion gaming industry via Forte, but that has not pushed the price of the coin above $0.34.

News in the past year, through the bear market, was struggling to have an effect on the price of certain tokens, unlike in 2017 when the market was extremely bullish. Now, there is a small change in the sentiment, with some people calling it the beginning of crypto spring, but it has not been strong enough to ride on the good news that abounds.

What will it take?

The assertion that Bitcoin will lead the rest of the market is a tried and tested one. When Bitcoin is rallying, the remaining coins near the top of the Coinmarketcap rankings are never far behind. However, there has been talk of an altcoin season leading the way into crypto spring.

Certain altcoins, like Litecoin, Binance Coin, and EOS for a small portion of an example, have seen a successful beginning of 2019, and have been part of the reason why Bitcoin now finds itself over $4,000 for the second time since November last year.

If XRP was able to break its strong ceiling and get past the $0.34 mark in one of its own rallies, it may well be able to stay there with the strong altcoin sentiment at the moment. But, what it needs to get above that mark is still very unknown.

Subscribe to the official U.Today Telegram channel. Get news first!
👓 Recommended articles