Ripple without any doubt takes the first place when it comes to a network that has been tested and proven in real-world cases in blockchain technology. At present, Ripple (XRP) has grown to become a major player in the cryptocurrency space being used and tested by major financial players in the financial sector as well as other money transfer service providers.
Ripple is playing a leading role in the crypto ecosystem as other digital coins are lagging behind but are busy imitating their earlier strategies of creating hype around partnerships and their infrastructure. The third-ranked virtual currency now seems to set its eyes and attention on the e-commerce giant and leader, Amazon for a possible partnership.
Ripple (XRP) currently enjoys an impressive partnership portfolio of over 75 banks who have chosen it as their natural service provider, a fact that should attract Amazon to be part of the family. A possible partnership with Ripple (XRP) has the potential to influence the fortunes of the e-commerce giant significantly, Amazon positively, while bringing onboard millions of their customers and associates spread all over the world. Here are some of the reasons why we believe Amazon and Ripple are going to become partners in the coming few months, finally.
Ripple’s Affordability, Dependability, and Transaction Speeds
One of the main selling point associated with blockchain technology is the costs and time it takes to complete a transaction. In the beginning, many investors and potential partners like Amazon were fearful of how to approach the volatility of digital coins but not any longer. With the rate Ripple is becoming an accepted, stable, and a future virtual currency reservoir, meeting Amazon’s micro-payment level demands should not be a problem.
Whereas the transaction costs and other fees
Amazon usually spends a lot of funds completing a transaction thus minimizing their profit margins and discouraging consumers from using their platform as fees incurred are typically passed down to the customer. But by utilizing Ripple, Amazon will only have to incur a few cents per transaction making a lot of economic sense.
Ripple Low Prices
Volumes drive Amazon while Ripple is affordable and convenient to the masses. Combining both partners, Ripple and Amazon mean both sides win regarding global reach and adoption. The good thing about Ripple is that anybody can afford XRP tokens now that they are exchanging under $1 before any price surge happens.
Amazon, on the other hand, has a different consumer base with those shopping for cheap products form the most significant percentage of their clientele. It is this audience Ripple is targeting hoping to bring onboard.
Amazon should take advantage of Ripple’s low transaction prices in safeguarding more traffic towards their platform rather than to their competitors.
Ripple Guarantees Amazon Stability
XRP has a considerable supply of coins in the market. As Ripplecontinues to surge, it presents Amazon lower volatility levels, a factor that should make it more appealing to the e-commerce giant. Unlike Bitcoin and other currencies where prices fall by over $1000, XRP depreciates by pennies or cents, a small percentage that the customer barely notices.
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.