Ripple News Today – It has been days since the Facebook Libra white paper was launched but no one can stop talking about it for good reason. While many people believe that Libra will bring about the end of XRP, Ripple, XLM and other cryptocurrencies that are meant for the payment services sector, there are those who believe that Libra is going to be the vehicle that will drive cryptocurrencies into massive adoption. This includes the CEO of Ripple, Brad Garlinghouse. In our Ripple news and XRP news yesterday, we talked about how Garlinghouse views the launch of Facebook’s Libra as a good thing not just for Ripple but for the entire cryptocurrency community. In our Ripple news today, we are going to talk about how Facebook Libra serves as a wakeup call for banks and other financial institutions.
Ripple News Today – XRP News Today – Ripple Latest Update – Facebook Libra: A Wakeup Call
Garlinghouse’s comments about the Facebook cryptocurrency seem to be accurate as Bitcoin, XRP, ETH and every other cryptocurrency on the top list have been surging higher against the USD. Bitcoin BTC has crossed the $10k mark for the first time in months and it doesn’t look like it’s planning to stop any time soon. XRP also gathered momentum rising by 10% within a few hours. If the bulls continue to maintain the momentum, it will test $0.50 near-term. Crossing this level will pave the way for higher highs against the USD. XRP may move as high as $0.80 before the end of the month if this should happen and the bulls should maintain the momentum.
Bitcoin was originally created to enable a peer-to-peer settlement system that eliminates central authorities and intermediaries. Over the years, more blockchains have been developed to make the vision of decentralization a reality. While blockchain technology can be applied in several industries, Ripple was developed specifically to serve the financial sector. It enables swift, cheap, and accessible transactions across the globe. However, convincing banks and other financial institutions that blockchain technology is the future hasn’t been easy. This is why the move by Facebook is having a far reaching effect on the cryptocurrency market.
By creating a blockchain and a token for financial settlements, the social media and tech giant, Facebook, has shown other competing businesses that it believes in blockchain technology and cryptocurrencies. This emerging technology is going to take the lead in the next industrial revolution and Facebook has provided banks with the wakeup call they need to join the trend or be left out. The Facebook token is going to be launched before the end of the first half of 2020. Until then, Ripple will continue to work hard to get institutions to abandon SWIFT and adopt its xRapid and xCurrent protocol. Either this or they will just come up with their own blockchain based systems.
Ripple News Today – XRP News Today – Current Price Of XRP
At the time of writing, the price of XRP was $0.456781. This means that it is up by 4.39% against the USD and down by 5.45% against the price of BTC. The trading volume over a 24 hour period is $2,043,430,543 and the market capitalization is $19,414,086,979. The next few days of trading will determine if the price action will change or not. However, the bulls are more likely going to retain control in the market.
What do you think about the XRP price prediction 2019 in our XRP news today? Share your thoughts in the comment section below.