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A Close Look At XRP For 2019

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XRP is currently the second largest coin by market cap, and it managed to hold on to this position for the larger part of the past three months. It is also one of the most popular cryptocurrencies in the market, and maybe even the closest one to reaching mainstream usage.

The potential of XRP

XRP is a coin developed by a company called Ripple, and while the coin was initially called by this name as well, it changed its name in an attempt to differentiate itself from the firm. One reason for this is that many believed that Ripple controls XRP, which is something that the company has always claimed to be false.

Even so, XRP remains Ripple’s native cryptocurrency, and it is used in combination with many of its products that aim to improve payment systems of various banks and financial institution. This is XRP’s largest use case to date, and more than 100 banks and financial institutions around the world have recognized the potential of the coin and Ripple products.

The products in question, mainly xRapid and xCurrent, are improved systems that allow transactions to be completed within seconds, even when it comes to cross-border payments. Furthermore, they are much cheaper, with lower fees than the ones used by banks so far, which also tend to take entire days to be processed.

Benefits of these products were clear to the banks as well, and while they are typically still quite skeptical of cryptocurrencies, they realized that implementing such systems is the only way to parry the innovations which cryptocurrencies are bringing.

XRP controversies

As mentioned, the crypto community was quite skeptical of XRP at first, and this did not change until very recently. The coin’s connection to Ripple and banks added even more fuel to this attitude, and XRP was accused of many things, such as centralization, not being a real cryptocurrency, market manipulation, and more.

It also had to face several lawsuits by unsatisfied investors, many of whom believed that the company created a coin just to use it to trick investors and get rich. Ripple always denied such accusations and made an additional effort to distance itself from the coin. They claimed that XRP could survive, even if Ripple ceases to exist, which should serve as proof to everyone in the crypto space that XRP is decentralized.

XRP performance

Ripple’s and XRP’s efforts ended up being quite successful, and the coin is now an accepted and well-respected cryptocurrency. Even so, its value remains rather low, sitting at $0.316004 at the time of writing.

However, the coin has reached higher levels of stability in mid-December, and for weeks now, XRP value remains between $0.32 and $0.36. As XRP continues to expand, a rally at some point remains a possibility, although this depends on the state of the entire crypto market.

Meanwhile, XRP continues to build up its network, connecting banks and financial institutions around the world. Apart from that, it is also listed on more than 100 crypto exchanges, although it has yet to win its place on Coinbase. If Coinbase does decide to list XRP, this might be just the push it needs for its value to skyrocket.

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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.

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Charts courtesy of TradingView

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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