The forthcoming launch of Facebook’s Libra Coin has created a great level of concern in the digital currency market. Different analysts and investors are coming with their perspective on the possible impact of the digital currency on the entire cryptocurrency market. There are lots of bullish and bearish cryptocurrency news regarding Facebook’s Libra Coin. Many see the new cryptocurrency as a threat to the top digital currencies in the market, such as Bitcoin (BTC) and XRP (XRP). One analyst, the Digital Asset Investor, has said that XRP will bridge the gap rather than compete with Libracoin.
XRP News Today: Facebook’s Coin Gets Support from Top Firms – Cryptocurrency News Today – Crypto News Update
One of the major reasons why many believe the launch of Facebook’s Coin will disrupt the digital currency market is the gigantic support the coin is getting. Top players in several industries such as Visa, Uber, MasterCard, and PayPal, will be supporting the project. The coin will also be supported by top firms that have turned down adopting XRP (XRP), Bitcoin (BTC), and other top cryptocurrencies. Some of these firms are ready to invest as much as $10 million each to the project.
However, while others see the launch of Facebook’s Libra Coin as a threat, others believe the launch of the coin will do the digital currency space a great service with a long-lasting resultant effect. Some digital asset investors and analysts have seen the possibility of the coin killing XRP (XRP), Bitcoin (BTC), and other top digital currencies in the crypto market. Some believe that Facebook’s Libra Coin will kill the crypto market immediately or at least in less than five years.
Crypto News Update: Facebook’s Libra Coin Cannot Dethrone XRP (XRP) and Bitcoin – XRP Price Prediction
A lot of top analysts believe that it is impossible for Facebook’s coin to replace XRP and Bitcoin (BTC) in the market. A gold maximalist and digital currency expert has also bet on this, saying that Libra coin cannot dethrone XRP (XRP) and Bitcoin (BTC). The XRP community are saying that Facebook’s Coin will not do XRP (XRP) any arm. They believe that if the new coin is going to compete with any cryptocurrency, it would definitely be the world’s most dominant digital currency – Bitcoin (BTC).
According to a Youtuber that goes by the name Digital Asset Investor, XRP (XRP) will bridge the gap between the Libra Coin, XRP, Bitcoin (BTC), and other cryptocurrencies in the market. Facebook’s Libra Coin is going to be a Stablecoin. The Youtuber said that the coin will be one of the best things that’s going to happen to the whole digital currency space.
He further added that XRP is unique in its own way, as it has its own use cases. Its parent firm – Ripple – has been working to increase the use case of XRP over the past six years. He added that XRP (XRP) is used for on-demand liquidity and as a bridge asset. The adoption of XRP is increasing on a daily basis. More banks and institutional investors across the globe are beginning to adopt and use Ripple’s XRP-based products. Hence, it will be difficult for Facebook’s Libra Coin to dethrone XRP as they both solve different problems.
XRP (XRP) Price Today – XRP / USD
At the press time, XRP USD live price is $0.4314 after an increase of about four percent over the past twenty-four hours. The current market cap of the digital currency is $18.35 billion. The trading volume of the digital currency over the past twenty-four hours is $2.23 billion.