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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

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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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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