If you follow the crypto market at all you already know the bear has been hugging us all year, and, despite a few fluctuations, not just Ripple’s XRP, value for most tokens has been going steadily down since last December. We all know that every market alternates between bullish and bearish runs, which means that the current bearish trend is bound to finish. It’s just that we don’t know when that will happen.
Well, according to current technical market analysis for XRP it seems that the signs are there for Ripple’s token to break the bear’s hug at last. The current charts for XRP show that it could be about to explode (still, don’t quote our words).
So far Bitcoin’s downward trend has been limiting the market’s growth. This is true for XRP as much as it’s been for Tron, Cardano, and many other coins as most of them can only be acquired through exchanges in which you can only get those other coins if you buy Bitcoin first. But it seems that XRP could be the first cryptocurrency to break that trend.
XRP has been going up, if silently, for some time now and it’s broken the market’s downward trend. It’s even fighting with ETH to become the world’s second cryptocurrency by market capitalization (and it’s held that spot for a few times over the recent weeks).
Even if Bitcoin’s is still stopping it from breaking out, because of pegging in exchanges and trades, it’s been growing slowly but steadily, and the project is getting amazing news regarding strategic partnerships, new users and real-world demand for the token.
So a new bullish run will arrive for the market as a whole, and the chances are that Ripple’s XRP is going to lead the way because it’s already pushing and growing. Remember that XRP was last year’s most profitable coin. That’s is the real question. Or is it?
The thing is this: XRP is one of the few cryptocurrencies that has found a way to become useful in real-world terms even if it remains somewhat unavailable for average users (it’s always been meant to be used by bankers instead). That is the strategy that makes XRP a valuable asset whose price is driven by actual economics (supply and demand) instead of speculation, which has been the rule so far.
Remember: in the end, the crypto game, is going to be about mainstream adoption and even Bitcoin is not doing as well in that regard as XRP. Even Wall Street (the Nemesis of cryptocurrencies) is trying its luck with XRP.
The crypto market, like any other market, is all about risk and reward. And traditional investors have been very skeptical about crypto because they think the risk is just too high. And they’re right. The crypto market is indeed precarious and volatile.
That also makes it more exciting, but there is no question about the high risk. That being said, the market has been quite stable over the last 30 days (if it’s been low). That eliminates the risk factor, at least for the time being, And in this context, XRP is one of the very few coins that has been growing steadily in value.
Ripple’s XRP is indeed growing, slowly but steadily. It’s achieving mainstream adoption and real-world value. If it keeps growing at the current rate, it could be at $5.0 by next year’s first quarter instead of today’s $0.50. But it undoubtedly will need to keep going strong from all angles to be there. Just watch and learn.
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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.
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Why Blockchain Projects Keep Failing
If you’ve been keeping up with news coming out of the blockchain community over the past year, you’ve probably heard countless projects hyped as the next best thing—only for them to fall off completely off the map a few months later. While some of these projects offered no practical solutions and seemed destined to fail, others creatively used blockchain technology to enhance the way we perform day-to-day tasks.
So, What’s the Problem?
For starters, many of these founders have no real experience running a business or managing finances. Instead, teams are usually comprised of programmers and tech geeks with the ability to develop blockchain-driven apps, but have no clue about project management, allocating resources, effective team building or marketing.
What’s more, when you look at the average blockchain start-up’s website, you’ll probably find a list of team members with accolades a mile long. And many of these “achievements” are in similar blockchain projects that have yet to take off. This makes it hard to distinguish between what is hype and what is credible information, which scares off all but the high-risk investor.
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STEEMIT Running Out Of STEAM?
Has Steemit seen its glory days run dry? There have been many rumors that the CEO Ned Scott has pushed the company to the blockchain focus that he forgot about Steem being a social media platform. Now, these are just things some of the former employees have been heard saying, but it is a rather interesting take as to what is going on. Give the following video a watch where I break down what is happening with Steem. I also give my thoughts on what may happen to other large ICOs and how we may see this trend continue as we have seen with ConsenSys laying off 10% of their workforce.
If the big name projects are starting to do this will it also have a trickle-down effect on other ICO’s which have no products and are running out of cash? I definitely think so, and I also see this negatively affecting Ethereum for the mid-term. The question many have been asking is just how long can the bottom 1800 projects last with the current market conditions? How many ICOs did not liquidate their Ethereum and now are stuck with 1/10th the cash flow or more in some cases, how will they pay to continue operations? What about the growing number of projects laying off employees like…
The Three Biggest Problems with Crypto
In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?
However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.
Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.
We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:
Who hasn’t been scammed at least once?
The crypto community is overrun with scammers taking advantage of inexperienced and naive users. What’s more, scams don’t only occur on an individual level.…
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