v001 - Ripple (XRP) Tears Higher - End of the Day Report for 5/15/2017

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Transcript from video is below:

Hmmm so...Ripple (XRP) extends higher today. It surpasses Ethereum (ETH) to take 2nd place in the crytomaket cap.

Market cap for XRP is higher than $9 billion (US). Market cap for ETH is higher than $8 billion (US) as of 5/15/2017. Obviously Bitcoin (BTC) still takes the lead here.

So what’s up with the recent upward tear in XRP? I don’t freaking know…. I have no clue…

Speculation from the troll community appears to be the following:

Let’s start with speculation #1. There is growing adoption of XRP by more banks specifically in Asia. Japanese financial firms for example are starting to be a huge player in the cryptocurrency space and just growing once again.

So Guys and Gals, please check out an article by Crypto Coin News, linked in the comments section below for info about one Japanese firm incorporating Ripple. This article was released on March 31, 2017. It talks about a large Japanese bank jumping into the Ripple space. Let me read a snippet of this article for you guys:

[...starting with the header..]
“Japan’s Biggest Bank Partners with Ripple, Plans Global Blockchain Money Transfers in 2018.

The Bank of Tokyo-Mitsubishi UFJ (BTMU), the banking arm of the Mitsubishi UFJ Financial Group (MUFG) has joined Ripple in its endeavor to establish an international blockchain payments network of global banks.

MUFG has today announced [PDF] its membership in Ripple’s ‘Global Payments Steering Group’ (GPSG). CCN reported on the GPSG in September 2016, setup to create a ‘rules-based blockchain payments network’ as Ripple describes it. The goal of the Ripple-led banking collective is to create uniform policies and governance to facilitate the transfer of money, globally, over a blockchain. [Ok so detaching myself from this article, the best way I can interpret this news is that we can hope to see faster Ripple-like transactions just to keep up with current banking technologies and speed. Additionally, it’s pretty obvious that we will see more transparency between buyer and sender just to keep up with banking ordinances.]

Reading further along in this article...
“Today, people expect money to move at the speed of the Internet. That’s why we’re working with these top banks to address the need for faster cross-border payments,” stated Ripple co-founder and then-CEO Chris Larsen, at the time.”

So detaching myself from this article, I looked into this MUFG group. From what I saw, they currently hold up to $2.6 Trillion (US) in assets. So one has to think this could be a nice business opportunity hedge and diversification for this MUFG group. Well what can you do with $2.6 Trillion (US) in assets? How about throw in a few billion into Ripple? That would amount to pennies for a company that size. News like this and of bank adoptions only helps the XRP market cap at the end of the day and get people more excited about the crypto space. Anyways, we are seeing more of these banks and institutions adopt the Ripple type of technologies out here today.

Let’s go to speculation #2.

There are rumors that XRP might eventually be added into Coinbase. Well why does Coinbase matter?? Let’s start with this: The easiest way to purchase Bitcoin (BTC) is through Coinbase for US customers. You can pay with a credit card, bank account, wire transfer, etc… So if I’m going to purchase BTC from Coinbase, more than likely, I might just purchase a few Ethereum (ETH), and Litecoin (LTC) just for the hell of it… You see where I am going with this. This recent spike in XRP price might just be a Coinbase premium. If we look at LTC, few weeks prior to LTC joining Coinbase, LTC saw more than a 400% increase in its price. But to be fair, more than likely that could have been due to the LTC-Segwit upgrade. But with XRP approaching a market cap of $10 billion, also makes it a likely candidate to be added into the Coinbase family of coins. It’s currently trading at 0.25 per coin...making it a baby brother to load up on once it hits Coinbase. It quite possibly by then be trading at $1.00 or more. Only time will tell.

If we take at look at LTC after it joined Coinbase, LTC started trading in Coinbase at around the $20-$21 region at around May 5th. Then peaked as high as $35.00 or 40% before correcting. Could we see this same move from XRP if it joins Coinbase?? Maybe/Maybe not. The price of XRP is definitely attractive for speculative investors as a way to get their hands on cheaper coins in the crypto space. As of the time of this article, XRP was trading as close to $.25/coin breaking new highs once again.

I’ll will blog some more stuff this week on other subjects. Please place comments, thoughts, ideas, conspiracies, recipes or whatever down below on YouTube or Steemit:

I hold the following coins:
Stake: XRP, NXT, STR
Speculative Stake: BURST, FLO, BELA, LBC, POT, DGB, FLDC, GNT, EMC2, XEM, NAV, SC, BCN, LSK, SYS, PASC, BTS, DOGE, ZEC, ZEN (eventually - March 23rd) and GAME.

Sources

1. Japan’s Biggest Bank Partners Ripple, Plans Global Blockchain Money Transfers in 2018.
   https://www.cryptocoinsnews.com/mufg-ripple-blockchain/. March 31, 2017.

2. Coin Market Cap:
   https://coinmarketcap.com/. March 15, 2017.