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Ripple (XRP) breaking free from Bitcoin (BTC), finally

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Ripple
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When it comes to signing and closing partnerships with influential financial players, no other cryptocurrency comes closer to Ripple (XRP), not even Bitcoin. Lauded for its constant quest for adoption, Ripple, at the moment, has over 100 payment providers and financial institutions on its list of partners. Interestingly, this list is expected to further increase in size with more partnerships been sought and other companies showing interest in adopting Ripple’s various blockchain solutions.

However, many analysts continue pointing out the issue of the price value of XRP not reflecting the growth in adoption Ripple is currently enjoying. The challenge has always been that Bitcoin (BTC) has always been influencing Ripple’s value.

Bitcoin carries out a large percentage of all Ripple trading. What this means is that the price of XRP has kept depreciating, in spite of having great runs of optimistic broadcasts since early this year. It is this situation that forced a comment from Brad Garlinghouse, Ripple CEO and founder. In a recent interview given to CNBC, he stated that:

“There is a very high correlation between the price of XRP and the price of bitcoin, but ultimately these are independent open-sourced technologies.”

Nevertheless, this connection is about to come to an end. How you might ask. Well, exchange listings are gradually changing suggesting a drop in Bitcoin pairings as cryptocurrency exchanges continue leaning towards altcoin-fiat pairings. As more and more exchanges continue following this trend, Bitcoin’s dominance as the preferred cryptocurrency-to-cryptocurrency pairing will suffer a big blow.

This trend is already catching steam, and things are starting to look shaky for Bitcoin. For instance, Bittrex, one of the leading virtual currency exchanges, recently divulged that they are focusing on introducing fiat-cryptocurrency pairings. Bittrex has an impressive client base of over three million users globally with the US accounting for a majority of them who will stand to benefit from this development.

Binance (another top cryptocurrency exchange) is also seriously considering taking a similar path. Recently, Binance made public that they will be soon rolling out XRP/BNB coin meaning Ripple/Binance coin. The exchange has the XRP/USDT pairing in action, already.

Ripple (XRP) disconnecting from bitcoin (BTC)

News of Ripple decoupling from Bitcoin isn’t a recent thing. Ripple for a long time has been talking about its decoupling from bitcoin, but currently, XRP is being encouraged by the activities going on at SBI Holdings. At the moment, SBI Holdings is working to roll out its Virtual Currency trading platform, and Ripple is the only cryptocurrency listed on the network’s website.

If everything continues to move the way they are moving, Ripple’s digital coin XRP stands the opportunity to appreciate in price without the authority of Bitcoin.

Ripple (XRP) set to benefit from the decoupling

After the recent TRX/USDT pairing by Binance, bitcoin decoupling from altcoins is expected to speed-up dramatically. Analysts are predicting the decoupling of more and more altcoins from Bitcoin shortly, and when this transpires, Ripple will be one of the primary beneficiaries. This will be so because Ripple has the widest use scenario of any other blockchain platform.

The decoupling might coincide with the colossal adoption of Ripple’s xRapid solution by financial institutions. According to Garlinghouse, xRapid is going to be available for financial institutions before December, and many other banks will be able to use it in 2019.

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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 Pxhere.com

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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