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Ripple continues leading mass adoption while many investors don’t fancy it

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Ripple

Ripple (XRP) is among the top cryptocurrencies in the world. Its primary focus is to aid in global remittance payments and become the leading solution. As we do know, it still faces stiff competition with SWIFT. However, the cryptocurrency has attracted lots of attention ever since its inception, but still faces the debate of being a security or not, consistently. Additionally, most investors do not like Ripple or its products.

Technically, Ripple trades between the $0.27 and $0.3 levels. Also, its short-term price structure is still at lower highs and lower lows, but its chart shows us that it started to slow down after the drop from $0.35.

First possible support is the August low or 2018 low and the round number area $0.25. If it finds support from this area, then we will also have a bullish chart pattern called “Double bottom.”

Subsequently, a market analysis by a known Trader easyMarkets states that:

“XRPUSD is approaching our support at 0.3349 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, short-term ascending support line) and a strong bounce might occur above this level, pushing price up to our major resistance at 0.3499 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastics (89, 5, 3) is approaching support where a bounce above this level might see a corresponding rise in price.”

That said, Ripple got a step ahead as the cryptocurrency won a lawsuit to be not declared a security. The lawsuit has been “dismissed without prejudice” by the state court in California recently.

Ripple has also given an excellent insight into the one of its product, xCurrent, through a video. The video revealed how xCurrent aims to solve the problems that SMEs have been facing for an extended period including lack of transparency, traceability, and attached information. Ripple’s xCurrent focuses on solving these problems and become an everlasting solution to the cost of transactions that are associated with SMEs. Even though this was done, the blockchain firm couldn’t convince its community.

On the other hand, xRapid – another product from Ripple for cross-border payments is set to be launched before the year closes and it is undergoing different tests from Cuallix and Zipremit.

Ripple is planning to merge xVia, xRapid, and xCurrent together into one solution, known as Convergence; this was according to Jim Chauncey-Kelly, the Director of Talents Acquisition at Ripple.

As per the firm, the Convergence is software that synchronizes all of the Ripple’s product. It was also added that with Convergence, industries could move their capital from one country to another and still enjoy fast speed and flexibility, with low transaction cost.

Ripple has also answered the critics concerning the “centralization” of its protocol. David Schwartz, the CTO of Ripple stated that XRP is a decentralized coin just like Bitcoin. But there are still concerns and questions concerning the centralization of the blockchain project.

Nonetheless, Ripple seems to be leading as far as the mass adoption is concerned as even the companies such as Mitsubishi UFJ Financial Group acknowledged the use of Ripple solution in different parts of the world. The company is seeking ways to stamp its position as the leading solution for global remittances. Its xRapid will go live very soon and this may attract more FinTech companies to adopt it.

Check out the new Global Coin Report YouTube channel as we address all the highlights in crypto and the financial markets. With guests from all over the cryptosphere bringing you news, editorial, and of course, money making opportunities.

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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.

Photo by Kym Ellis on Unsplash

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My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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3 Reasons Why Liquidity Dividends Protocol (LID) Will Be a Huge Winner

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Liquidity Dividends Protocol

Since 2017, cryptocurrency has experienced both the crazy highs and the crazy lows with fortunes being made and lost overnight.  That volatility is one of the main reasons why cryptocurrency has been relatively slow to gain mass adoption.  In addition to volatility, another concern for many is the lack of security and regulation in the market.  This can be seen through the countless exchange hacks and rug pulls that seem to occur on a weekly basis.  In order for cryptocurrency to move into the next stage of maturity and bring on mass adoption, investors and users will need to feel secure knowing that their funds are safe.  One promising organization that may have the perfect solution is Liquidity Dividends Protocol (LID).

What is Liquidity Dividends Protocol?

Liquidity Dividends Protocol is an up and coming organization that provides locked liquidity services to cryptocurrency projects that launch their offerings through ERC-20 tokens.  It lets non-custodial pre-sales lock liquidity of a token in a trustless manner through Uniswap.  This locking process will prevent every investor’s worst nightmare of seeing their hard-earned money disappear through “rug pull” scams that are designed to remove liquidity out of DeFi projects.

This year has seen an explosion of interest in Uniswap and DeFi projects.  Many investors have generated enormous returns on investments, but many have experienced the pain of being duped.  Below are three reasons why LID Protocol is poised to be a massive winner in…

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