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Reasons why Ripple (XRP) is the only Amazon Choice

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When it comes to a system that is tested and proven real world use cases in blockchain, Ripple (XRP) scores a first. When other Altcoins are creating hype around their infrastructure and partnerships, the Ripple technology is being tested and used by major players in the banking sector and other payments platform and now the focus is on the ecommerce leader, Amazon.

Over 75 banks cannot be wrong to choose Ripple as the natural serve provider and this should entice Amazon to be part of the network. A partnership with Ripple can change the fortunes of the ecommerce giants while discerning millions of their consumers and affiliates spread across the globe. Here are some reasons why Amazon is going to be Ripples partner in the coming months.

Ripple is Known for its Speed, Affordability and Dependability

One of the breakthroughs associated with blockchain is the transaction speeds and the cost. On the onset, many prospective partners, including Amazon, are scared on how to handle the volatility of the digital currencies but not anymore. With the pace that Ripple is becoming solid and a future digital currency reservoir, it is set to meet Amazons demands to micro-payment levels.

At the moment, you cannot compare Ripple to Bitcoin in terms of fees. A partnership with Bitcoin will only mean the consumer will have to dig deeper into their pockets to get services. To this end, Ripple delivers fast at low fees. Amazon spends a lot of money to complete a transaction thus eroding their profits (the fee is passed to the consumer any away) and using Ripple for a few cents makes a lot of sense.

Ripple Will Cushion Amazon against Volatility

Ripple (XRP) has a sizeable supply in the market as it increases; it lowers the volatility levels making the best choice for Amazon. This large circulation supply will takes a way not only amazon but other strategic partners. Unlike the large coins like Bitcoin where prices drop by over $1000, SRP drop by pennies or cents that the consumer barely notices.

When coins get mined; the reserves get depleted thus increasing their value. With XRP, this will never happen in the near future and this is the stability that Amazon cannot wish away. Most coins have a limit to the total number that can be mined; however, the cap does not apply on XRP. A coin that fluctuates at will, cannot sustain Amazon market demands and this leave Ripple the only digital coin standing.

Ripple (XRP) is Lowly Priced

XRP is affordable to the masses and Amazon is driven by volumes. Combining these two means both benefit in terms of adoption and global reach. Anyone can afford XRP coins now that are under$1 before a spike happens. Amazon has a mixed buyer base and majority are those who shop for cheap products from the platform and this is audience Ripple is bringing to the table.

With increased cross border payments, Amazon has faced a myriad of bottlenecks that can be easily tackled by Ripple. The low XRP price should be Amazons bait in ensuring more traffic is directed to them rather than the competition.

Also read this: Visa network crashes across Europe & the U.K – Time for a Visa – Ripple (XRP) partnership?

What more, Ripple has taken over several major banks across the globe and this makes transaction processes easy and you do not have to use the tedious credit or debit cards. The Ripple technology has given various sectors the confidence that is missing from other coin and that is why Amazon is ripe for a partnership.

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Amazon Squashes Crypto Rumors as Hype Surrounding Facebook’s Libra Grows

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In the past few months the world was shocked to hear that social media giant Facebook was entering the crypto markets with the release of their cryptocurrency dubbed Libra. Although Libra has been met with mixed opinions from both those within the crypto community and those outside of it, many analysts do believe it will ultimately help the markets.

Additionally, the Libra hype also led to a significant amount of speculation about other major companies releasing similar crypto-themed products, but e-commerce giant Amazon is now squashing these rumors, boldly stating that they don’t deal in speculative technologies.

Amazon Gives a Hard Pass to Crypto Products… For Now…

Many analysts in the crypto industry believed that Amazon would closely follow Facebook with releasing a crypto of their own, and this belief was primarily rooted in the company’s “Amazon Managed Blockchain” product through their web services initiative, which seemed to signal an interest in distributed ledger technology.

Despite this, the vice president of Amazon Pay, Patrick Gaulthier, recently threw a wet towel on these rumors, saying during Fortune’s Brainstorm Finance 2019 event that now is not the right time to focus on utilizing speculative technologies like cryptocurrency.

“It’s fresh, it’s speculative; at Amazon, we don’t really deal with the speculative, [we deal] in the now,” he noted while responding to a question about Libra.

Although for now the Amazon crypto rumors have been put to an end, that doesn’t mean that Amazon won’t ever introduce a product, as Gaulthier said that he would be “happy” to discuss this type of tech further in two or three years.

“At Amazon, we deal with data a lot, so I’ll be happy to have that conversation two or three years from now,” he later said.

If Libra is Successful, Will Other Companies Follow Facebook’s Lead?

Although we likely won’t know for certain whether Libra is met with wild success until it launches in mid-2020, it does already have a plethora of noteworthy partners that clearly see some merit in its purpose.

In the past week, several large financial institutions have offered bullish analyses of Libra, with Bank of America noting that Libra will make a good addition to Facebook’s e-commerce initiatives.

“With more than 2.5 billion users, Facebook and its partners could be a significant endorsement of cryptocurrency and a notable addition to the Facebook app ecosystem… We see the launch as an important initiative for the company as it builds out a more private messaging ecosystem with eCommerce capabilities,” they said.

Assuming their assessment is accurate and it does begin significantly enhancing Facebook’s ecosystem, then it is likely that other large companies, like Amazon, that are currently hesitant to adopt this type of technology will begin entering the markets.

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Why the Cryptocurrency Bubble is Reminiscent of Hodling Amazon Stock: CoinShares CSO

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What a difference a few weeks can make.

Just 21 days ago, the bitcoin price was trading above $8,400, riding what appeared to many to be the first wave of a new bull market. The bottom, the analysts said, was in.

Now, midway through August, bitcoin is fighting just to hold above $6,000. The altcoin markets, meanwhile, have been pummeled to a pulp. The ethereum price is down 18 percent for the day and double that for the week, while the ripple price has now plunged 93 percent from its all-time high.

ethereum price chart cryptocurrency
ETH/USD | Bitfinex

Speaking with CNBC, Meltem Demirors, chief strategy officer at U.K. cryptocurrency investment firm CoinShares, attributed the sell-off in part to the difficulty that the industry is having presenting a consistent, attractive narrative to investors.

“Really the only metric we have for most cryptocurrencies is the price, and price is such an imperfect metric. What does actually utilization look like? That’s the struggle for crypto right now.”

Concurrently, the bear market has presented blockchain startups funded through initial coin offerings (ICOs) with a difficult choice: sell their assets now to preserve whatever runway they have left, or continue to hodl indefinitely in the hope that the market will finally turn a corner.

“What we’re seeing now is that a lot of these ICOs that have raised capital have done so using ether or bitcoin. When the price was $1,200, everyone was feeling really good. They had a long capital runway. Now the price is at $300, they’re not feeling so great,” she said. “I think this is really what our ecosystem is struggling with. How do we allocate out of ETH and into other assets that preserve value long-term, and what should those assets be?”

Demirors compared the fluctuating valuations that bitcoin and ethereum have seen with those experienced by revolutionary tech companies like Amazon, Microsoft, and Intel at the turn of the millennium, explaining that many investors in these companies were forced to wait a decade or more to see the value of their investments break even following the dotcom bubble. Patient investors, however, were richly rewarded.

“New technologies that shift the paradigm take a long time to really understand. I think what we saw in crypto is we saw this massive run-up, where everyone got FOMO,” she said, “and what it caused is the speculative bubble…. But all of that capital is now getting deployed into building real businesses that serve a real purpose.”

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Bitcoin (BTC/USD) forecast and analysis on July 31, 2018

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Cryptocurrency Bitcoin (BTC/USD) is trading at 8214.99. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Bitcoin. At the moment, the quotes of the cryptocurrency are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 7900.00 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target near the level of 9120.00.

Bitcoin (BTC/USD) forecast and analysis on July 31, 2018

Bitcoin (BTC/USD) forecast and analysis on July 31, 2018

The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 7880.00. The abolition of the option of continuing Bitcoin growth will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of ​​7520.00, indicating a change in the bearish trend for BTC/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.

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