Ripple (XRP) & IOTA Surge: Breaking News- 2 Digital Currencies With Massive Upside Potential

Since highlighting IOTA a couple days ago, it is up over 70% in less than 48 hours! Ripple (XRP) is up close to 40% since we highlighted some of the positive news on the horizon.

As always, buying and holding quality cryptocurrencies is the best strategy. But, for those day trading IOTA & XRP are both two star buys we recommend holding throughout the week for potential higher upside.

Some of the news driving the recent hysteria:


Up-and-coming cryptocurrency startup IOTA has partnered with Microsoft, Fujitsu, and twenty more companies to launch the first publicly accessible data marketplace for the Internet of Things. What makes this undertaking especially intriguing is that the marketplace will be entirely powered by a distributed ledger.

The initiative, which will allow stakeholders to share and monetize their data in a secure way, aims to demonstrate a proof of concept for a tamper-proof data marketplace. Once uploaded to IOTA’s decentralized ledger, all data is distributed to countless nodes in order to ensure immutability.

IOTA is currently the ninth biggest cryptocurrency by market share on Coin Market Cap, boasting a market cap of $2.95 billion. What is notable is that IOTA uses an interesting new technique to distribute and decentralize its ledger. Unlike standard blockchain technology used by most companies, IOTA relies on a method it calls Tangle.

Compared to blockchain, IOTA co-founders Dominik Schiener and David Sønstebø claim Tangle offers free transactions and much better scaling opportunities.

Those curious to see how Tangle works in practice can check out this visual demo of how the network scales.

“We are very excited to announce the launch of our data marketplace,” said Sønstebø. “This will act as a catalyst for a whole new paradigm of research, artificial intelligence, and democratization of data.”

In addition to Microsoft and Fujitsu, a number of other high-profile companies – including Deutsche Telekom, Bosch, Accenture, and PwC – will also participate in the demo.

“We are excited to partner with the IOTA Foundation and proud to be associated with its new data marketplace initiative,” said Microsoft blockchain specialist Omkar Naik.

“This next generation [sic] technology will accelerate the connected, intelligent world and go beyond blockchain that will foster innovation real world solutions, applications and pilots for our customers,” he continued.

The marketplace demo will run until January. IOTA has promised to release a series of blog posts and case studies to showcase the various ways in which companies and individuals can benefit from using its technology.

Ordinary netizens will also have a chance to sell their data on the marketplace by connecting their IoT devices to the IOTA ledger. This will enable them to cash in on various data like weather station statistics and more.

For this inaugural demonstration, IOTA says all data will be valued equally, but this might change in the future. “For this proof of concept, all of the data is rated equally,” said Schiener. “In the next iteration we will include a simple bidding mechanism coupled with more complex querying for datasets.”

Meanwhile, those curious to know more about IOTA, Tangle, and its new marketplace ought to tune in to our upcoming TNW Answers session with co-founders Schiener and Sønstebø this Thursday at 8:00 AM PDT, where they will be responding to questions from readers.

In Addition to the more than 20 organizations that have joined the IOTA Foundation’s data marketplace, a new open innovation initiative seeking to create a platform where firms can buy and sell data from sensors and IoT-connected devices are Participants Deustche Telekom, EWE, Microsoft, Bosch, Tine, PwC, Accenture, Fujitsu, Schneider Electric, Orange and DNV GL.

All have deployed sensors that directly sell the data on the marketplace. These range from environment data from various locations all around the globe, to anonymized healthcare data from wearables, to agriculture data from Africa.

Ripple (XRP)

Michael Arrington Has a New $100 Million Hedge Fund That Will Be Valued in Ripple’s XRP

The prominent tech figure Michael Arrington announced a new hedge fund on Tuesday that will be denominated in the crypto-currency XRP, a rival to bitcoin that is closely tied to the software company Ripple.

The news, which Arrington announced at an investor conference in New York, is significant because investors will buy shares of the fund and receive distributions in XRP.

While dozens of hedge funds have sprung up this year to invest in the white-hot digital currency market, this one, known as Arrington XRP Capital, is the first to be denominated in a crypto-currency rather than dollars or euros.

The Ripple price (XRP/USD) has hit a six-week high after surging 11% on Tuesday.

The fifth-largest cryptocurrency on the market reached an intraday high of $0.281 in recent trading, which is its highest level since October 16, according to data from Coinmarketcap. The coin is currently trading around $0.280.

The rally appears to be driven by a massive spike in trading activity, more than half of which is taking place on South Korean cryptocurrency exchanges. The digital coin’s 24-hour trading volume has soared to nearly $520 million, with South Korea’s Bithumb exchange accounting for 48.5% of that volume. Local peers Coinone and Korbit capture 10.7% and 8.7% of the global market activity, respectively.

This month Ripple has seen a couple of positive developments that have provided a much-needed boost to its price. First came the announcement that US financial services giant American Express has teamed up with British bank Santander UK to develop a Ripple-based solution for instant cross-border payments between the UK and the US. Less than a week later, it was announced that FTSE 100 banking giant Standard Chartered and India’s Axis Bank had launched a similar service connecting businesses between Singapore and India.

These developments are another demonstration that major financial institutions have been increasingly interested in Ripple’s enterprise blockchain network — RippleNet – which has more than 100 customers, including banks, payment providers and other businesses.


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