It is amazing how traditional systems are moving fast to embrace the blockchain. The technology is no longer a fad and is here to stay. The speculation that a Ripple (XRP) Amazon partnership is in the offing might come true before end of 2018 and here are 7 reasons why it is going to happen.
Ripple has partnered with a large percentage of global banks that Amazon has been using to transact its business. With the speed at which XRP has been accepted by financial institution, the ecommerce outfit is set to join the party. This could even come earlier than many crypto enthusiast and Amazon fans think.
Ripple (XRP) Security and Pricing
Price is what any consumer looks at before buying any product or service. Ripple is currently interacting with several banks and financial players in the market simply because it offers low transaction rates. If the consumer goes for the price factor, Amazon will start shedding its market share to Ripple for good and to salvage its current position, a partnership with XRP is a must.
Ripple XRP has two value propositions that Amazon is looking for in a digital coin; a coin that is low on volatility and is affordable to the market. High fees on Amazon have left out a large market segment that it can benefit from. Whether XRP gain traction and the price goes above $5 transactions will still remain at 0.00001 which works for Amazon.
High XRP Supply in the Market
The beauty of Ripple XRP coin is the supply keeps growing and this takes care of volatility. This makes it the right Amazon choice since the amount of XRP coin in escrow can cushion a volatile market. In the event that the market prices surge or go north, Amazon stands a chance to benefits since the consumer will no notice ant huge variances in process.
Ripple has one of the highest circulation supply in the market and this is a good reason enough for Amazon to ink a deal with them soon. Once volatility is taken care of, buying using XRP coins will be easy
Ripple (XRP) Market Entry Point
Ripple offers the best market entry point for new adopters. Anyone can be able to buy several XRP coins compared to ETC or BTC. Secondly, the two have high transaction fees that holder can spending buying items from Amazon. The more coins are held by the consumer, the more Amazon will benefit since Ripple has already proven to be spendable.
At the time of writing, XRP was trading at $0.596 and this is a god price for the ordinary crypto enthusiast. When you look at the coin from the transaction point of view and look at Amazon pricing from their official portal, many mass focused items are priced at micro-prices and XRP transactions are set to that level.
Ripple (XRP) Addresses Modern Consumer Concerns
Consumers have no business dealing with slow processes; they are looking for systems that offer instant transfers and quick verification processes. If you have used Amazon at some point, there are frustrations. You pay for your product and wait for the merchant to schedule a dispatch. Integrating their system with the Ripple one will eliminate the wait time.
When an item is dispatched without the buyer verifies everything, chances of returns are high and the charge backs involved in some instances is not what the consumer expects. With the speculation heating up in the media about the partnership, you need to keep your fingers crossed and wait a little longer.
Ripple (XRP) Global Reach and Appeal
For some reasons, there are some countries where Amazon is not supported or restrict users from some features like Mturk. With a Ripple partnership, this will be a thing of the past. You can spend your Ripple XRP coins across the globe; it is a universal secure coin based on an immutable outfit where users cannot double spend.
The Ripple XRP xVia, Amazon consumers do not need to have a bank account and this target the age group 18 to 40. This software is ideal for a giant ecommerce site like Amazon. However, we need to wait for an official announcement from the two market leaders on the way forward.
Amazon Squashes Crypto Rumors as Hype Surrounding Facebook’s Libra Grows
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
“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.
Why the Cryptocurrency Bubble is Reminiscent of Hodling Amazon Stock: CoinShares CSO
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, me
anwhile, 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.
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.”
Bitcoin (BTC/USD) forecast and analysis on July 31, 2018
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
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.