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Ripple (XRP): A Repeat of 2017?

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Ripple
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Just like any other cryptocurrency, Ripple (XRP) has had its ups and downs during its lifetime. However, unlike many other cryptos, Ripple’s behavior seems to be a bit too controlled, and the comparison of its charts actually shows a progression pattern.

Ripple (XRP) history repeats itself

While studying Ripple (XRP) charts, many have noticed that the crypto seems to be following the same route that it took in 2017. The crypto was discovered to actually have cycles, albeit unofficial ones, but so far, the theory does seem true enough.

At first, Ripple starts by making gains during a month’s time. Some investors manage to make a profit, while some decide to sell as soon as possible, which causes the price to corrects. This pattern is the very same one that Ripple took last year, and it can be seen on XRP/BTC charts.

Over a year ago, in late March, Ripple experienced a huge price increased, which marked the end of the 26-day long cycle. In the following months, Ripple’s price against Bitcoin corrected, and Ripple saw bottom at the year’s end.

That is when January 2018 came, and Ripple started another cycle where it continued to rise for – you’ve guessed it – 26 days. The next 94 days saw Ripple’s price going continuously own again, which was followed a new cycle of correction, which lasted for 110 days.

According to the theory backed by charts, Ripple’s current price has not reached its bottom yet, and it will continue to drop for a little while longer. If XRP continues to follow the patterns shown on the charts, this situation should last for about a week more, which is when Ripple’s 110 days of price correction are supposed to end, and crypto will be on the rise once more.

Ripple expected to keep following the cycle

According to Ripple’s behavior so far, many are expecting the coin to continue following the predetermined cycle before it can begin a new one, and see a price increase again. It still manages to remain the third largest crypto on the CoinMarketCap, and it has had a lot of success when it comes to developing its products, entering partnerships, and gathering support from the community. In fact, it is believed that this progression will continue since XRP is sought out by many companies.

Ripple’s xRapid product, and its ability to make international payments quickly, and cost-effectively has made this currency the favorite of banks around the world.

According to charts that are comparing Ripple with Bitcoin, XRP is almost at its bottom, which will start a new cycle of rising and falling. However, the situation is slightly different when we compare Ripple with the US dollar. In fact, Ripple has touched the so-called resistance line only once since the price correction started, and that was when its price was $1.

Currently, both the situation, as well as the conditions are relatively similar to that period. This might indicate that the XRP/USD might be facing a rejection soon, which might bring a new bearish setup.

Many have tried to explain this unusual behavior, and the most likely explanation includes Bitcoin’s price increase, which has attracted a new wave of retail investors. These are likely those who have been hesitant to join the market until the conditions are perfect, and have finally grown tired of waiting.

Despite the fact that Ripple’s cycle is not yet ready for such a change, the prices still managed to go up, pulled up by Bitcoin’s bullish run. And, while Ripple is still expected to return to its price drop that will continue until the cycle ends, it is important to remember that brighter times are indeed coming, at least according to what we have seen so far.

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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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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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