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Ripple (XRP) is successfully freeing its arm from Bitcoin, here is why - Global Coin Report
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Ripple (XRP) is successfully freeing its arm from Bitcoin, here is why

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Ripple Bitcoin
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Like most of the virtual coins and altcoins, Ripple has been recording slight price losses throughout the last seven days. Although putting a spirited run, Ripple’s prices failed to break the resistance level of 0.47 US dollars throughout the week, leading to its prices falling and revolving around 0.46 and 0.45 US dollars. Currently, XRP/USD is testing the 23 percent Fib level support taken between the highs and lows of 0.52 and 0.42 US dollar support levels respectively.

During the price depreciation, the price value broke below a connecting price surge line with support at 0.46 US dollars on the hourly chart of the Ripple US dollar pair. The XRP/USD pair settled below about the $0.46 support mark and the 100 hourly simple moving average.

Regarding the Fib retracement level, the pair settled at 61.8 percent from the 0.4375 US dollar low to the high of 0.47 US dollars. However, the 0.45 US dollar support level acted as a barricade for traders especially sellers. At present, Ripple’s value is exchanging in a small range near the 0.45 price level, an increment from the previous support level of about 0.452 US dollars.

Over the years, Ripple has partnered and signed deals with influential financial players in the market gaining global recognition and appreciation for its growth. At present, Ripple has over 100 financial institutions and settlement providers on its portfolio of partners. Many other institutions and firms continue to show interest in adopting Ripple’s (XRP) unique blockchain technology and solutions, thus positioning the digital coin on the advantageous ground.

However, according to research and market analysis, the price value of Ripple (XRP) does not reflect the growth in adoption that the virtual currency currently enjoys. The challenge has always been Bitcoin’s (BTC) influence in the cryptocurrency markets that Ripple is a member.

For instance, Ripple’s (XRP) major exchanges are usually carried out by Bitcoin which unfortunately depreciates the value of XRP, in spite of having great and promising broadcasts ever since it started partnering with other major financial players in the financial industry. According to the words of Ripple (XRP) founder and CEO, Brad Garlinghouse, while speaking to CNBC:

“There is a very high correlation between the price value of Ripple (XRP) and Bitcoin even though these two virtual currencies are independent and open-sourced blockchain technologies.”

However, this connection between Ripple and Bitcoin is going to cease. Bitcoin pairing is gradually falling with exchange listings gradually changing their ways of crypto trading leaning more towards altcoin-fiat pairing. As this emerging trend continues to gain momentum, more and more exchanges are following these footsteps creating a major blow to Bitcoin’s dominance as the cryptocurrency of choice for crypto-to-crypto pairing.

On the other hand, the future looks uncertain for Bitcoin following one of the leading digital currency exchanges, Bittrex, revealing that it is focused on the introduction of fiat-crypto pairing issuing a problematic situation for the number one cryptocurrency in the world.

Bittrex is a major player and link in the cryptocurrency sphere as it has a wide customer base of over 3 million globally with a big percentage coming from the US, who are the largest beneficiaries of this progress at the moment.

The news of Ripple (XRP) disconnecting itself from Bitcoin is not the new one. This has been in the pipeline for a while, but present SBI holding activities have propelled this divorce. SBI Holdings intends to launch its very own Virtual Currency trading network that is going to incorporate Ripple as the only virtual currency on the platform’s website.

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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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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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