Why Is Ripple Going Down? How JPM Coin and Facebook Coin Will Affect The Ripple and XRP Future Forecast?

Is There a Risk For Ripple and XRP With JPM Coin? Ripple Might Lose Its Banking Partnerships Due to the JPM Coin Phenomena. Coingape reported that, JPM Coin caused an uproar in the cryptocurrency and financial market with its introduction of the JPM coin. However, the chaos was non-directed; the purpose of JPM Coin was unknown. Moreover, its contribution or competition to the cryptocurrencies was also unclear.

It’s Too Centralized, Facebook and JPM Can Beat It

Ripple is kind of an anti-cryptocurrency in the sense that it is completely centralized. The company behind it premined all of the coins and they hold the majority of the coins. It’s centralized crypto for banks, whereas the entire ideology behind cryptos was decentralization for the people.

South Korean Exchange Volumes

As CoinMarketCap has removed South Korean exchanges from making a calculation of Ripple price so it badly affected the Ripple’s current price. It was followed by raids in South Korean exchanges by the government to control the youth’s addition to cryptocurrency and to take this under taxation. This is a major issue which leads to the reduction in Ripple price. However, Ripple’s collaboration with MoneyGram was helpful in gaining its value.

‘Ripple is centralized, FB going to eat their lunch’

Ex-Facebook developer: Facebook has experimented with their own stablecoin ‘Facebook Credits’ in alpha since 2009 already, claims Brad Mills, Bitcoin maximalist and former Facebook game developer.

Mills explains in a Twitter thread why ‘Facebook Credits’, which was primarily used in social games, failed and disappeared in 2013. According to the developer, ‘Facebook Credits suffered typical central banking problems, with cronyism & better deals being given to larger organizations like Zynga.’

According to Mills, Facebook had ‘an impressive push in 2012 with Facebook Credits in stores globally’, and he the now analyst and partner of Xsquared Ventures & Centah says that the soon to be launched Facebook Coin will be a great move for Bitcoin (and not so much for Ripple).

The New York Times reported earlier this week that Facebook is already talking to exchanges to get their coin listed in the first half of 2019. The cryptocurrency will be a stablecoin pegged to a basket of different fiat currencies, and its main use at first is on Whatsapp, where it will function as a coin to send to your friends and relatives. Facebook also wants to integrate Facebook Coin in Facebook itself, Messenger and Instagram.

XRP Price Today

Name Price24H (%)
XRP (XRP)
$0.288817
-0.02%

The bears lost control of the market

Bullish Predictions: Bitcoin to $28K, Litecoin to $650, XRP to $4 and ETH to $2,090

Dailyhodl reported, a crypto trader who calls himself ScienceGuy9489 is back with a series of bullish predictions on the price of the four leading cryptocurrencies by market cap.

The trader’s Bitcoin prediction recently shot to the top of Reddit/Cryptocurrency, comparing Bitcoin’s price during the 2014-to-2015 bear market to the current state of affairs from 2018 to 2019. CoinDesk analyst Omkar Godbole is on the same page, concluding that if past is prologue, a long-term transition to a bull market may be on the horizon.

Says Godbole,

“Bitcoin produced a similar pattern during the previous bear market witnessed in 2014–2015. More importantly, the upside break of that falling channel, confirmed in October 2015, was followed by a two-year bull market.

Therefore, a potential upside break of the latest falling channel could be considered a sign of a long-term bearish-to-bullish trend change.”

But ScienceGuy isn’t settling for just one prediction. The trader has taken things a step further over the last two weeks, outlining four extremely bullish predictions on just how high he believes BTC, ETH, XRP and LTC are set to rise. According to his analysis, the results could bring Bitcoin to $28K, Litecoin to $650, XRP to $4 and ETH to $2,090.

XRP interest goes up

Ripple (XRP) Bulls Weak but Japanese Investors are Confident. The hype element specific to cryptocurrencies meant 90 percent of surveyed individuals got involved with cryptocurrencies in late 2017. That’s around the same time when almost all digital assets “mooned” according to data collected by Japan’s GMO Internet Group.

Ethereumworldnews reported that, even though 2018 was a tough year for crypto asset holders it is encouraging that more than 50 percent of the 11,000 surveyed had Ripple (XRP) in their portfolio and were convinced 2019 would be a better year for XRP. Better still, 70 percent of those polled were of the opinion that aside from speculation, cryptocurrencies are long-term investments. 95 percent had invested more than $9,500 in digital assets but the number could rise thanks to SBI Group’s effort and their dedication of supporting Ripple Inc as they market XRP.

But it is not only in Japan where cryptocurrencies can be a source of revenue. An Indian exchange, Coindcx, has rolled out a program where account holders can lend their assets and earn interest. Dubbed the Dcxlend, five coins including XRP are available with monthly interest of 0.75 percent for XRP.

All coins, the exchange said, will be “lent through Dcxlend will be used to provide leverage to users on Dcxmargin” and “the interest rate varies dynamically and goes up to a maximum of 2 percent, according to market dynamics — demand and supply.”

Ripple vs JPM Coin

Ripple Might Lose Its Banking Partnerships Due to the JPM Coin Phenomena. Coingape reported that, JPM Coin caused an uproar in the cryptocurrency and financial market with its introduction of the JPM coin. However, the chaos was non-directed; the purpose of JPM Coin was unknown. Moreover, its contribution or competition to the cryptocurrencies was also unclear.

Nevertheless, JPM coin received harsh criticism from the crypto community including Ripple’s CEO Brad Garlinghouse. The reason cited for the same was lack of interoperability. The general perception is that JPM coin is as an isolated centralized cryptocurrency. However, it seems that there is more to it that it meets the eyes.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
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Aamir Kapoor is a fintech writer specializing in cryptocurrency and blockchain. He has a background in finance and banking and was a researcher.