Connect with us

Blogs

Litecoin makes a comeback as the Litecoin Core upgrade gets announced

Published

on

Litecoin Core
READ LATER - DOWNLOAD THIS POST AS PDF

The cryptocurrency market is drastically changing around these days; thus, the market is being affected by an unstable pricing that goes up and down while some of the crypto investors look for strategies to face the situation.

Each and every one of the digital currencies, no matter if old or new, are being affected by this global changing market; even the most consolidated ones like Bitcoin, which has had the struggle of passing from a price around $330 billion to now $140 billion.

If that’s the case of the cryptocurrency leader, we can imagine how it goes for the rest of the field. Nonetheless, some brand-new strategies are emerging to become a solution.

Like so is the case of Litecoin (LTC), which seems to have an ace under the sleeve in order to make things work. Charlie Lee, the founder of Litecoin, recently shared a message on his Twitter announcing that: “we have just tagged Litecoin Core 0.16rc1. Once we have tested it enough, it will be released.”

This way, Litecoin Core would represent a solving fact for some of the recent problems the encrypted currency have been facing. For instance, the price of the digital coin was traded double bottoms as the week was coming to an end.

Regarding this, the main LTC struggle has been maintaining the coin on a float while the whole cryptocurrency market seems to be sinking. Since huge price slump happened last Wednesday, Litecoin has had a hard time making their gains acceptable enough, thus, some higher corrections were made as the price is nearly close to the support level at $168.

loading...

Nonetheless, all these problems appear now so distant with the launch of Litecoin Core; an open source software that enables LTC usage freely. The software is operated within the terms of the MIT license but deployed by an LTC developers group.

Even though the software was recently updated, the launching date is still uncertain, as Charlie Lee himself declared, it needs to be tested properly before its release to the public market.

The technical landscape

The price of Litecoin has gained a significant value compared to the current cryptocurrency scenario; its USD has gone up in a 2.9 percent in the last 24 hours, which of course is a very satisfying fact considering the numbers were negative during the whole week.

In a satisfactory turn of events, the price of the LTC reached the ground and went right back up again; not only was able to make a strong upside correction but also did it in the record time of 30 minutes, passing from $160 to $167 at 13:00 GMT.

In consequence, the scenario now is very positive; even the moving averages are starting now to correct the upside. As we can appreciate in this chart, a sustainable behavior it’s starting to show up; and all seem to conclude that price control is taken back, meaning in a short term we could be seeing a correction to the upside where Litecoin trade would be priced above $170.

We will be updating our subscribers as soon as we know more. For the latest on LTC, 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 and read our full disclaimer.

Image courtesy of Keith Allison via Flickr

Altcoins

Ripple XRP Mega Breakout: What’s Next?

Published

on

Ripple XRP mega breakout
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

Litecoin Cash (LCC): The potential mover?

Published

on

Litecoin Cash
READ LATER - DOWNLOAD THIS POST AS PDF

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.

Continue Reading

Altcoins

The Stage is Set for Stellar XLM vs XRP

Published

on

XLM vs XRP
READ LATER - DOWNLOAD THIS POST AS PDF

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

Continue Reading

Trending