Ripple News Today: Ripple has faced a lot of threats in the past but it is still standing. Recently, after the announcement of an upcoming release of the JPMorgan Coin, many experts in the industry said that this coin is going to bring about the end of Ripple and the XRP token. This contributed to the sideways trend that XRP suffered for months per our previous XRP news. Now, tech and social media giant, Facebook has announced that they are planning to release a cryptocurrency called GlobalCoin. Ever since Facebook made this announcement, the cryptocurrency community has been talking about what the release of the Facebook cryptocurrency would mean for Ripple and XRP. A reputable member of the Bitcoin community, Max Keiser, recently predicted that the release of the Facebook cryptocurrency is going to mean the end of Ripple and XRP.
Ripple News Today – XRP News Today – Will Facebook Coin Lead To The Death Of Ripple?
The Facebook GlobalCoin is a stablecoin known as FaceCoin. Keiser said that this cryptocurrency is going to make many cryptocurrencies, including XRP, useless. He said that those remittance services that depend on cryptocurrencies will be rendered useless thanks to the Facebook Coin. However, he said that the cryptocurrency is going to give Bitcoin a boost. In his words;
“The $FB global stable coin… FaceCoin obviates need for hundreds of alt-cons including XRP. The alt-coin apocalypse is nigh.”
The FaceCoin is going to be used for enabling transactions and microtransactions. It’s going to be fast, cheap, and efficient. Since speed, efficiency and affordability are the key attractions of XRP and other similar tokens, FaceCoin is going to present a serious threat to them. It is also going to be a threat to companies that offer cryptocurrency related products and services. According to Keiser, this token isn’t going to be a threat to Bitcoin because Bitcoin is in competition with gold and not fiat currencies. The FaceCoin will be pegged with the USD and many other fiat currencies. It would target countries where fiat is plagued with high volatility.
XRP News Today – Ripple News Today – XRP Latest Update – Is There Hope For Ripple? Current Price Of XRP
XRP was created specifically to attend to the needs of the remittance sector. Over the years, the cryptocurrency has gained popularity. The company behind XRP, Ripple, has sponsored the development of many use cases for XRP. Thanks to its xRapid technology, XRP will be able to live up to its potential as a global coin for bankers. It’s true that the FaceCoin is going to pose a threat to XRP. However, it is important to note that XRP has survived a lot so far and it is still standing tall. There is no guarantee that Facebook Coin, which is a stable coin, is going to kick XRP out of business.
At the time of writing, the price of XRP was $0.421143. This means that it is up by 0.24% against the USD and down by 0.12% against the BTC. The trading volume over a 24 hour period is $1,417,410,717 and the market capitalization is $17,788,627,821. XRP has the potential to trade higher than this level before the end of the year with or without extra competition.
What do you think about the XRP prediction 2019 in our XRP news today? Will the Facebook Coin lead to the death of XRP? Share your thoughts in the comment section.