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Could This Be The End for XRP In The Crypto Markets? - Global Coin Report
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Could This Be The End for XRP In The Crypto Markets?

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XRP
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The crypto-markets have been looking a bit gloomy this past week with the total market capitalization dropping from $255 Billion on Tuesday the 7th of August, to current levels of $207 Billion at the moment of writing this (August 11th). One of the fears many crypto traders have is that this market cap will drop to levels below $200 Billion and continue to hurt their investment portfolios.

Looking at XRP, it has dropped from levels of $0.41 on the same Tuesday – 7th of August – to current levels of $0.29. This is a drop in price of 30% in less than 4 days. Comparing this to the peak value of XRP of $3.82 in January, the digital asset has dropped 92.4% in the past 8 months.

It is by a similar observation that the inventor of the Bollinger Bands used in trading – John Bollinger – believes it is time to start looking for signs of capitulation in XRP. In a tweet on the 10th of August, Mr. Bollinger had this to say about the recent slump in the price of the digital asset:

Capitulation is when investors give up on any previous gains in an asset they own in the market and start selling abrupt to get out of their positions. Capitulation involves extremely high volumes and sharp declines. It also involves panic selling. The question now is, have the XRP investors totally given up on the coin that is meant to skyrocket to the stratosphere this year due to numerous news and its general popularity?

A brief history of John Bollinger

John Bollinger is a trusted and famous technical trader who developed the highly used Bollinger Bands. He developed the technique in the 1980s which uses a moving average with two trading bands above and below it. These two bands are used to gauge the possible highs and lows of an asset. Many traders believe that the closer the price of an asset moves to the upper band, the more overbought it is and most likely to drop in value. If it moves to the lower band, it is oversold and likely to start an upward trend.

John Bollinger further provides 22 rules to follow when using the bands as a trading system. Crypto trading platforms such as Binance and Bitfinex have Bollinger Bands as an analysis tool on their charts.

To trade cryptocurrencies, sign up with Binance!

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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Top 3 Crypto Trends That Might Go Big in Q2 2019

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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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