FREE BITCOIN

Gamble as you want,

your wife will never find out!

First p2p bitcoin betting platform!

Guess Bitcoin’s trend and win!

Clever enough to guess

Bitcoin price?

Can XRP Break Out of the Falling Wedge? - Global Coin Report
Connect with us

Altcoins

Can XRP Break Out of the Falling Wedge?

Published

on

XRP
READ LATER - DOWNLOAD THIS POST AS PDF

XRP is the third largest cryptocurrency by market cap, which currently sits at around $13.5 billion. The coin also has a price of $0.325316 at the time of writing, after seeing a significant price correction of 4% in the last 24 hours.

Just like many other cryptocurrencies, XRP has seen massive losses during the 2018 bear market. However, this falling wedge seems to have seen a real breakout in 2019, as the crypto winter started to let go, and a lot of coins saw significant price recoveries.

XRP’s falling wedge was much more difficult to stop, which can be seen on its long-term chart. But, the recent bull runs allowed numerous cryptocurrencies to finally see growth, and XRP is definitely one of them. The charts also show that the coin’s falling wedge has seen a breakout, which is an excellent thing for the future of XRP’s price.

However, for the coin’s price to truly turn and stay bullish, XRP needs to see larger volumes. The experts believe that this is the key for a new rally, one which would allow XRP to reach true recovery.

XRP price performance and predictions

As mentioned, XRP had struggled to start growing even when most other cryptocurrencies were drawn in a number of bull runs. While the coin has been acting the same as others until mid-February, it is clear that the bull runs that came around this time had a lesser effect on XRP than they did on most other coins. Apart from one big surge that included even XRP, on February 18th, the coin was mostly going down.

Whenever there was a bull run, XRP would start joining in at the last second, which prevented it from seeing major gains before the correction would take place. The coin also mostly ignored rallies that took place in March, prevented from going up by a strong resistance at $0.32, while its strongest support held at $0.30.

This all changed on April 1st when XRP saw a massive spike up — one which was mirrored by nearly every other coin on the market. Bitcoin itself surged by around $1,000 on this occasion, and while XRP’s growth was nowhere near as big, the coin still managed to break through multiple resistances and reach $0.372 by April 3rd. This was the breakout that the XRP community was waiting for, one that allowed the coin to finally move away from the resistance level at $0.32.

However, XRP soon saw a correction as well, dropping below $0.36. After spending days just below this level, its price started seeing another large decline on April 10th, when it attempted to break this resistance. The price rejection forced XRP down, and the only thing stopping the coin from seeing even larger drops now is its resistance-turned-support at $0.32.

Interestingly enough, XRP trade continues to remain quite high, with a daily volume of $1.38 billion. However, this is still not enough for the volume-driven rally, which is necessary for the coin to continue its growth. If such a rally were to arrive, and if the volumes did go up, it is believed that XRP could potentially even double its price with ease. While the coin is currently pretty much back where it started on April 1s, this might not be the end, as the market is generally still considered bullish at the moment.

The correction will pass soon enough, and the coins will see growth once again, and that will be XRP’s chance to surge back up and break through its resistances, with the largest ones being at $0.36, $0.39, and $0.46.

For the latest cryptocurrency news, join our Telegram!

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 and read our full disclaimer.

Photo by Georgiana Mirela from Pexels

Altcoins

Top 4 Cryptocurrencies to Bet on in 2019

Published

on

top 4 cryptocurrencies
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto winter ended and Bitcoin is breaking through the $5000 resistance barrier and leading a general charge in bullishness among cryptocurrencies has seen more positivity in the market than ever before. However, before any talk of a crypto spring should start, we need to look at what happened during the winter.

Many different platforms were either fully released or improved upon significantly. There has been a surge of innovation and the crystallization of ideas. The market isn’t just about crypto trading or bitcoin trading; it has become more about what businesses will leverage blockchain in the best way. Investors need to look at what a coin offers beyond just being a cryptocurrency. What partners does it have, what is the long term plan and is it liquid enough?

Investing in altcoins has never been a better option than right now. The volatility index shows that the market is growing without having to rely on Bitcoin. While Bitcoin still determines and up or down trend, the altcoins do not follow this trend exactly. More and more tokens and coins are surviving and thriving on their own merits rather than riding in Bitcoin’s wake.

The four coins to follow are our pick for the top 4 cryptocurrencies most likely to give you substantial returns by the end of 2019.

Stellar Lumens (XLM): Cheap coin, and massive market to grow

Continue Reading

Altcoins

2019 Will Be a Big Year for Luxcore

Published

on

Luxcore
READ LATER - DOWNLOAD THIS POST AS PDF

With the recent surge of Bitcoin in the last few weeks, many traders are hoping for a more profitable year than 2018.  Even if that comes to fruition, my advice over the past year remains the same.  Traders must look for companies and projects that offer blockchain solutions with real-world use and complete transparency.  One company that meets both of those requirements is Luxcore (LUX).

What is Luxcore?

Luxcore is a blockchain solutions and services ecosystem that focuses on developing security and privacy products.  The Luxcore platform utilizes the PHI2 algorithm powered blockchain to build a wide variety of product offerings.  One of the platform’s primary goals is to help close the gap between regular consumers and enterprise users by introducing specific use-cases for each group of users.

Exciting Roadmap for 2019

As mentioned earlier, one of the absolute requirements of building a successful blockchain project is to be fully and completely transparent.  Luxcore certainly meets that requirement with the introduction of their most recent roadmap.

The roadmap does a great job of showing which projects are in development, how far along each project is, and the expected completion date of each project.  With this, LUX traders and potentially interested consumers can follow along and monitor the status of projects that they are especially interested in.

Since many crypto projects have inevitably disappointed the market, offering…

Continue Reading

Altcoins

The Interoperability Problem of Blockchain May Soon Be Over

Published

on

Kardiachain
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto traders have certainly had a rough time since early 2018. The markets have tanked resulting in large losses for nearly everyone involved in the market. While that’s bad, what’s even worse is the fact that many projects have failed to deliver on their roadmap. Blockchain technology has been hailed as the next great advance in technology. And while many companies are making strides toward fully implementing blockchain-based technology, there is still a long way to go. As promising as blockchain technology is, there are still limitations that need to be addressed.

Limitations of Blockchain Networks

Although blockchain technology is certainly the future, the existing technology will need to be improved before it can go mainstream.  A few of the current limitations include:

  • Limited Scalability – Blockchain networks have consensus mechanisms that require each node to verify a transaction. This verification requirement slows down the network and limits the total number of transactions that can be processed.
  • Limited Usage – Each blockchain network was created with specific usage in mind. Because of the limited number of use-cases, each network eventually suffers from a never-ending loop of limited adoption. In the end, this causes low awareness.
  • Lack of Interoperability – At present, individual blockchain ecosystems are unable to communicate with each other. If a blockchain network attempts to retrieve information from an external (outside the “chain”) source, each node would have to…
Continue Reading

Elite