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How Ethereum Classic ETC managed to beat Ripple XRP in the race to being listed on Coinbase

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XRP
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Whether you like it or not, the Coinbase effect is real in the crypto space. As 2017 came to a close, the rumor of Ripple getting listed on Coinbase resulted in a spike in the price of XRP such that the coin hit unprecedented highs of almost $4 per XRP. Obviously, with the market dip that came almost immediately, XRP market price has corrected ever since and is now priced at $0.54 per XRP.

ETC to be added to Coinbase

Just recently Coinbase made an announcement on their blog about their intention to add Ethereum Classic to their trading and cryptocurrency exchange platform. The announcement that came about on Monday this week hit the crypto space by storm leaving most dumbfounded over how Coinbase made the move to list ETC and not one of the top altcoins like RippleXRP.

Ethereum Classic is now on its way to being the fifth cryptocurrency supported on Coinbase (one of the most popular crypto trading and exchange platform in the US). What took most by surprise is the fact that coins such as Ripple have been gunning for the coveted position of being listed on Coinbase yet Ethereum Classic (listed at position 18 on CoinMarketCap with a market cap of $1.6 billion) managed to beat the competition.

ETC price spike

In fact, right after the announcement, the price of ETC went up by over 20 percent going from $12.81 to $16.40, in a span of about 24hours. This happened even before Coinbase was able to put out a specific date for when ETC would be listed on the retail brokerage platform.

According to the announcement, ETC will be added to Coinbase’s Custody platform, Coinbase Markets, Coinbase Pro, Coinbase Prime, and, Coinbase Asset management in the coming months. Coinbase has reportedly been pushing to get registered by federal registration as an alternative trading system and investment adviser. This will allow the company to list more cryptocurrencies to its exchange.

Coinbase move to pick ETC instead of XRP

Coinbase is known to be super choosy over the coins it supports, however, a couple of reasons as to why they decided to support ETC over other viable options like Ripple XRP are evident. To begin with, ETC (unlike XRP) is a fully decentralized cryptocurrency that was forked from Ethereum after an attack that saw investors lose money on the Ethereum platform. Although IOHK is currently in charge of running the Ethereum Classic Blockchain, ETC remains to be an open source Blockchain project that is transparent and stable. Perhaps it’s the decentralized, stable and transparent nature of Ethereum Classic that has made it worthy of being listed on the giant brokerage firm.

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Is XRP a real cryptocurrency?

This is not to say that XRP is unstable. It’s just that Ripple XRP, operates on a centralized framework whereby it cannot be mined and transactions are verified by a centralized Blockchain framework controlled by Ripple labs (the company). It’s for this reason that most cryptocurrency enthusiasts do not consider XRP a “Real Cryptocurrency.”

However, there might still be hope for XRP to be added to Coinbase considering reports that Coinbase might be moving base to Japan where cryptocurrency regulations are much more lenient than in the US. Plus Coinbase has also promised to add more ERC20 cryptocurrencies in the future. Whether XRP makes the cut will be something we have to wait and see.

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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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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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Altcoins

The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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