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Can Ripple (XRP) Overtake Bitcoin (BTC) In 2018?




Bitcoin’s trajectory of the last year has been nothing short of incredible. The continued record highs have attracted the attention of the media, the public, governments, banks, and many more. As more and more cryptocurrency millionaires popped up, more investors wanted a piece of the action, until we found ourselves in the midst of a massive crypto hype.

However, it’s not just bitcoin that captured the attention of millions around the world. Ripple quietly grew to prominence until a few weeks ago, when it spiked with over 36,000%, more than doubled in its price and quickly became one of the new darlings of the crypto world.

Ripple’s boom followed shortly after several international banks, as well as Korean and Japanese credit card firms, stated that they would use Ripple technology to pilot test projects.

At the time of writing, ripple (XRP) is worth an average of $2.20 and it is available on several major cryptocurrency exchange platform. Granted, it pales in comparison with bitcoin’s price of $13,800 per BTC, but it’s not so shabby when considering that ripple grew from a humble $0.006 just a year ago. In addition, the cryptocurrency’s sheer supply has ensured that it is currently the world’s second most lucrative cryptocurrency.

However, this begs the question, why exactly did ripple grow as much as it did in the last year, and does it have the potential to overthrow the grandfather of cryptocurrencies?

What is Ripple?

Bitcoin is a virtual currency that is underpinned by a larger Blockchain network. Similarly, the ripple has its own payment network that is referred to as XRP, although even the most avid of ripple advocates simply call it “ripple.”

Ripple is also underpinned by a larger Blockchain network, which consists of several technological processes that ensure that all transactions are recorded securely online. This underlying Blockchain network is widely considered to be the future of payment systems.

However, this is where most similarities between the two end. Ripple was established in 2012, but initially, it was not designed to act as a form payment. Instead, the network was created to verify and record assets, including its own virtual currency, XRP.

Bitcoin was designed to be a decentralized peer-to-peer monetary system, where community members gave their own computer processing powers to verify and create new blocks and mine new Bitcoin, and as a reward received Bitcoin proportional to their efforts. In contrast, the ripple was established with a ready limited amount of 99 billion XRP ready for distribution which could be either traded or used as a means to navigate between other assets which would allow users to evade transactions fees.

Quicker than Bitcoin

The team behind ripple have previously stated that their network has several advantages over the bitcoin core network. Most significantly is that the ripple network offers much quicker and cheaper transactions. The average transaction conduct on the ripple network takes about 3 seconds and costs one-millionth of XRP.

In addition, bitcoin has lost utility due to its exorbitant transaction fees and times. However, the ripple network has encouraged interesting partnerships with traditional financial institutions such as UBS, American Express, and Santander as the ripple network has the potential to be used practically in foreign exchange situations.

How does Ripple work?

Ripple has a novel system compared to the majority of cryptocurrencies, which has earned it the title of being one of the most scalable and fastest cryptocurrencies available.

While Bitcoin was created with an ideology to move away from traditional banking systems, the ripple was designed to be compliant with banks and their networks. This is enhanced by the ripple network’s sheer transaction processing capabilities. At the moment, the ripple network can process up to 1,500 transactions per second, while bitcoin can process only 10.

However, both networks are underpinned by powerful Blockchain technology. This refers to the system that is responsible for recording all transactions made on the network, like a digital ledger, but also for encrypting transactions. While bitcoin utilizes its vast community of miners to verify transactions and mine new Bitcoin, the Ripple network is mainly controlled by its startup. However, since expanding they have started to utilize third parties to aid in verifying transactions.

This system has allowed for increased stability on the ripple network. The company stated in a recent blog post that they were planning on shifting from single-handedly managing their own nodes, to employing trusted third-parties to perform this service instead.

While some cryptocurrency advocates feel that ripple’s system is still too centralized, ripple responded by locking their remaining cryptocurrency holdings in an encrypted account and now only releases a limited amount per month.

What causes the ripple price rise?

The ripple price has grown immensely in the last few weeks. At the start of December 2017, XRP stood at $0.25, reached $1.00 at the start of January and has since grown to $2.20. This sharp price increase is considered to have come about due to investors cashing in their bitcoin to invest in other cryptocurrencies. This accounts for the fact that the ripple price has continued to grow despite the fact that the bitcoin price has decreased.

In addition, the price boost has likely been encouraged by the fact that several major Japanese credit card companies announced that they would be conducting test pilots using ripple for projects that include international payments. Ripple is also significantly cheaper than bitcoin which makes it an easier investment.

At the moment, there are 28 billion ripples in circulation compared to bitcoin’s 16.7 million. Ripple boasts a total market cap of just over $90 billion, which makes it the world’s second-biggest cryptocurrency. Second only to bitcoin.

How to invest in ripple

Ripple is widely available on most of the world’s biggest cryptocurrency trading platforms such as Kraken and BitStamp. To buy ripple, you would have to create an account on the exchange of your choice and verify your personal information. After your account has been verified, you can deposit funds into your account to purchase XRP.

At the moment, the ripple is available on over 50 exchanges, with many more promising to add support for it in the near future.

However, the cryptocurrency is still unavailable on one of the world’s largest cryptocurrency exchange platforms, Coinbase. The exchange’s CE, Brian Armstrong, previously stated that ripple was merely a distraction from bitcoin.

According to a virtual currency analyst from Interactive Investor, Gary McFarlance, there are several cryptocurrencies that are similar to ripple. A notable one is Stellar Lumens, which was created by a previous ripple executive. Stellar has also shown impressive growth but is yet to match that of ripple.

Considering ripple’s rapid rise to prominence, it is still too early to tell whether Ripple will hold onto its current value. In addition, the fact that it’s becoming widely utilized by centralized institutions makes it unlikely to ever truly overtake bitcoin, however, it definitely makes for a worthy competitor.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of fdecomite via Flickr


Investors Beware: Another Large Bitcoin Crash Might Be Coming



Bitcoin crash

The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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The Bitcoin Revolution: Everything You Need To Know To Take Profits




Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences




The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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