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Ripple, Verge, and Litecoin: Accelerations slow down but solidity grows

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Ripple’s XRP crypto coin’s price is going up every fifteen minutes on average. It’s still below the raging channel’s line. It tested the $0.86 line, but it didn’t go beyond that, which renders it vulnerable to downside corrections. An Obama’s former regulator has recently said (not that it’s relevant under Trump) that Ripple and Ethereum break the country’s security regulations.

Gary Gensler (that is the man) says that further proof of authenticity is needed. Ripple’s current value seems to be utterly unaffected by such comments but, in general, those thoughts could affect the whole crypto industry (at least within the US).

Let’s put that aside for now and have a technical look at Ripple’s XRP

Right now Ripple is about the 50% FIB retracement level. It’s been dancing between $0.58 and $0.89, which means its value is supported by the ascending channel’s bottom trend line. Right now the XRP/USD rate is shaking around $0.85 with a simple moving average of fifty. Things look good for short-term trading, and it has a lot of momentum.

Verge’s Price 

Verge’s XVG price is another story. It went above the $0.1 psychological barrier, and it even had transactions above $0.11. But investors want safety and balance. XVG’s partnership with the Mindgeek (a big player in the porn/adult entertainment industry) kind of stopped growth. It’s been called a misunderstood partnership, yet profitable. But it could still grow a lot in the short run if only because it benefits so many users who want to remain anonymous and still transact.

But forget about Mindgeek. TokenPay is finishing some bank acquisitions in Germany, and they are also Verge’s (XVG) partner. This could make XVG the first cryptocurrency to be relevant in the very rigid (even more in Europe, even more in Germany) banking industry. TokenPay announced recently that they would make XVG debit cards available to their customers, and the community in general, sometime very soon.

Verge’s price is around $0.0801 right now. Keep an eye on it when you consult the 4-hour charts. It could be a great short-term option in the event of new declines in the market.

 Its value has been between $0.024 and $0.115 recently. But its market penetration is quite important so it should not go below $0.70 in the near future.

Litecoin’s (LTC) Price

Litecoin (LTC) has been under $150 lately. But it’s been gaining momentum as the 50 simple moving average works in its favor.

On the other hand, it’s been as high as $161 recently, but also as low as $112. Currently, $151 per token would be a safe bet. 

Current financial indicators are a bit confusing. Buyers and investors are going for $160 per token, but even this $150 is a good recovery sign for enthusiasts. Just keep watching, chances are Litecoin will remain a good option.

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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.

Image courtesy of Eric Vondy via Flickr

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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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