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Ripple (XRP) is successfully freeing its arm from Bitcoin, here is why

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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.

Image courtesy of Maxpixel.net

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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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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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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