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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

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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