CME Trading Competition Winner Invests Everything In Ripple’s XRP
Ripple and XRP have been doing great this year, and the recognition in these two entities has been surging a lot.
The latest massive partnership between Ripple and MoneyGram will boost even more the company, its products, and the digital asset XRP without a doubt.
This is one of Ripple’s greatest achievements, and it will definitely rock the cross-border transactions industry.
Going all-in on XRP
Some people invest everything they own in XRP.
The winner of CME Group’s annual trading competition in 2016 said he’s all in on XRP.
Eric Choe told his 142,000 followers that he’s decided to go with XRP to place a massive bet on early retirement.
I’m retiring if it reaches around $2 – $4.
— Eric Choe (@ChoeTrades) June 15, 2019
Facebook vs. Ripple
His tweets come after some voices said that XRP might be in danger due to Facebook’s coin Libra that’s in the works at the moment.
The coin is known in the crypto space at the moment as GlobalCoin or Libra, and it will reportedly be governed by a new consortium of corporations and non-profit organizations.
Facebook established the Libra Association that will reportedly include a lot of companies that will act as founding members of Project Libra to launch Facebook’s new crypto.
Despite the fact that Facebook has not officially revealed how they will use the crypto, more reports are showing that they could use it in order to give companies and individuals a low or no-cost way to move money across borders.
And we all know that Ripple is working on something similar as well offering solutions for cross-border transactions.
On June 18th, Facebook is expected to release a whitepaper on this new global coin, according to TechCrunch.
Bitcoin entrepreneur Charlie Shrem and Wall Street veteran Max Keiser say they believe Facebook’s global crypto will impact XRP. Here are their tweets below:
Facebook is launching their global crypto coin called “Libra”. What’s interesting is they are offering companies to pay $10m to become “validators”. If anything, it renders Ripple useless 😂. The first companies to create a LIBRA/BITCOIN exchange will make a killing!
— Charlie Shrem (@CharlieShrem) June 8, 2019
The $FB global stable coin… FaceCoin obviates need for hundreds of alt-cons including XRP. The alt-coin apocalypse is nigh. This will drive Bitcoin higher, as BTC competes with Gold, not fiat. (Also, crypto ‘payments’ companies likely to wiped out). https://t.co/w38jmtn7RN
— Max Keiser, tweet poet. (@maxkeiser) June 7, 2019
Ripple’s Brad Garlinhouse, on the other hand, doesn’t seem to believe that Libra will pose a threat to XRP.
He reportedly thinks the social media giant will be more focused on consumer products and leave an open door for Ripple’s enterprise efforts.
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Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.