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Wall Street could be warming up to cryptocurrencies; however, not any coin/token is being targeted. Bitcoin is preferred but Ripple (XRP) could be a great buy.
evidence is piling up that the stock market is shedding off some of its gains
and probably directing it to digital assets. For example, in a tweet, Cryptopolis_x, a quantitative
“Money is moving from stocks to digital assets. Traditionally when the stock return outlook is diminished, capital moved into bonds and or / commodities. Now there’s a new kid on the block: digital assets. Wall Street will choose XRP, the greatest digital asset. GO XRP.”
Ripple (XRP) Will be Strategic
the choice of Ripple by Wall Street will not be a blind move. Ripple Inc
through Ripple Labs, is managed by top minds in the space, are experience and
building the infrastructure that would likely come in handy in Web 3.0, the
internet of Value (IoV) of which Ripple products will be supreme. That’s not to
talk about specific features of all of their solutions including xRapid which
can settle transactions in 4 seconds—or lower if we factor in Cobalt.
more banks and financial institutions are testing and even endorsing Ripple Inc
products to facilitate cross border money transfer. The banks range from Bank
of America, World Bank, IMF, Euro Exim Bank, Standard Chartered Bank, and SBI
Banking Group in Japan. MoneyGram is also in the list of financial
institutions working with Ripple.
from the Ripple platform being utilized by major financial platforms, there’s
another catch; the price of XRP.
It fluctuates less
compared to Bitcoin
Among all top cryptocurrencies, XRP prices are stable, range bound, decoupling with BTC, and well, acting more like a stable coin and as designed. For instance, since the beginning of May, XRP has been hovering between 30 cents and 34 cents, only breaking this mark early today when prices surged to 38 cents. Overly, Ripple (XRP) prices are oscillating within a tight 10 cents trade range with caps at 40 cents and floors at 30 cents. That’s unlike Bitcoin whose prices are volatile, exploding from $4,500 to $8,000 in less than six weeks.
The migration from stocks to crypto is
already being witnessed. The stock market is recording losses while Bitcoin and
the general crypto market is recording gains. For instance, the S&P is down 2.41
percent with Nasdaq is down almost 3 percent. On the other hand, the Chicago
Board Options Exchange (CBOE) Volatility Index is up during the same period.
The losses incurred in the stock
market seems to be influenced by a boiling trade war between the US and China.
Towards the end of last week, the US President, Donald Trump increased the
tariffs on Chinese imports by 15 percent to reach 25 percent. With Trump
threatening to raise it even more.
China’s reaction seems like the reason for the fall in the stock market. In an opinion piece on a Chinese newspaper, the author while expressing his views say:
“China has been pushing forward the bilateral talks with a high sense of responsibility and maximized sincerity, but it will never yield to the extreme pressure from the US, or compromise on matters of principle,”
Even if China is
not, BTC is
As China maintains it will not bow to
pressure from the US, Bitcoin, and the crypto ecosystem is already to bowing to
the bull pressure and recording higher gains.
Investors are however withdrawing from
the stock market and channeling them to politically immune digital assets as
Bitcoin and Ripple (XRP). The trade war between the two countries has drawn a
clear line between crypto and stocks; the political scene affects one and not
Since politics is always a hot topic
in the financial industry, Wall Street is likely to lean on the side that has
less political interference. Additionally, one with less volatility and high
“It’s hard to turn your head when you know the White House, Federal Reserve, IMF, and certain banks are currently involved with Ripple. XRP will solve the liquidity crisis not only in this country but worldwide.”
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