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Ripple jumps 50% again today, 3 reasons behind current XRP rally

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In the last 24 hours, lots of digital assets in the crypto space have experienced a surge at the rangebound of 2-10%. Nevertheless, the cryptocurrency that is leading in the current wave is Ripple (XRP). Ripple is driving with almost 10% more gains than the others, even the Bitcoin.

Right from Tuesday this week, the price of XRP has increased by 40%. Considering that, Ripple has undisputedly been the growth leader on the daily price trend in the recent ‘nice-little-rally’ this time. It is important to know that its volatility has reached maximum heights since the beginning of this year.

As a result of the rangebound surges that are experienced in the crypto market currently, the total market capitalization totals to $2 billion. More importantly, the market cap of Ripple also reached $22 Billion – almost equivalent to Ethereum’s current market cap of $23 Billion.

Today, XRP even took Eth spot on coinmarketcap for a while as it became the second largest crypto, which the cryptocurrency couldn’t hold for long (on the third spot yet). At the time of press, Ripple (XRP) trades at $0.5663 after increasing by 53.01% in the last 24 hours.

The reasons behind extraordinary Ripple (XRP) price rally

Ripple has increased by a considerable percentage, which has left everyone in curiosity as to what are those factors that have made the crypto to rise so quickly. There indeed are certain reasons. It is essential to keep in mind that the current rally is not like the previous ones that have been experienced in the past.

A series of positive events have helped with Ripple’s rally. Recently, Ripple settled its clash with Blockchain Consortium. Also, its adoption has intensified since XRP can now be accepted on YouTube and Twitch, through an initiative by a technical startup, known as Coil. Let’s not forget that just recently, SBI also unveiled a platform called MoneyTap, which will run on Ripple’s network.

Recently, the Head of regulatory relations for Asia-Pacific and the Middle East at Ripple, Sagar Sarbhai, revealed that one of Ripple’s product –xRapid, will be launched next month. Later on, an announcement from Ripple, through its spokesperson stated that there isn’t any official date yet, but meanwhile, lots of crypto enthusiasts have already hyped the speculations.

Marcus Treacher, the global head of strategic accounts of Ripple, said Ripple is growing in different countries around the world rapidly. She said,

RippleNet’s newest corridors have a combined potential market that totals over $2 Billion in inflows over the last year.”

Ripple’s strategic accounts global head added,

“InstaReM and RationalFX opened up new corridors from the United Kingdom to Malaysia, Vietnam, Indonesia, Sri Lanka, and Bangladesh. Remitr and FlitterWave established a RippleNet corridor to Nigeria from Canada, the first connection on RippleNet in Africa. BeeTech and InstaRem creators from Brazil to Spain, Italy, Germany, France, and Portugal.”

Another reason for Ripple rally is FOMO (Fear Of Missing Out). Lots of investors are anxious to invest in Ripple’s XRP before it’s too late. It is seen that this may be detrimental as repeated sell-off in the market may be fierce as the rally itself.

The Status of the Cryptocurrency Market Currently

The 24-hour volume of BTC will have to maintain its position – if it is to keep its rally going in the next few weeks. At the time of writing, the price of Bitcoin has grown by 4.2% with a 24-hour volume of $6.4 Billion. On the other hand, the total volume of cryptocurrencies in the market is now at $23 Billion, after increasing from $12 Billion in the last 48 hours.

The market seems to be bullish at the moment as prices continue to soar. Not just for Ripple XRP or Bitcoin, a significant recovery is expected for all of the top cryptos throughout this month. Still, no one cannot (and shouldn’t) vouch for the crypto market by 100%, only the time will tell.

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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. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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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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