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

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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

Altcoins

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

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Encrypgen
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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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Altcoins

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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