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Ripple (XRP) holds tight above $0.49, can it get back to $1 finally?

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Ripple (XRP), the third biggest digital currency continues to gain momentum globally along with a growing valuation and popularity. While the ever talked about Bitcoin is already known internationally taking the lions share of media coverage in regards to cryptocurrency, it is prudent we do not forget the other virtual currencies that are also on the rise, trying to compete for the top slot.

Ripple is one of the virtual currencies trying to dethrone Bitcoin; it is a currency exchange, remittance system as well as a real-time gross settlement system or RTGS all at the same time. Ripple which is also known as Ripple Transaction Protocol, shortened RTXP, is built upon a consensus ledger, a distributed open source internet protocol, and a native virtual currency known as XRP.

Developed in 2004 by a code pro and web designer, Ryan Fugger in Vancouver, British Columbia, Ripple was officially released in 2012 and has ever since enabled secure, near instant, low cost international financial transactions of any magnitude with no chargebacks.

For its principle, Ripple (XRP) is based on a shared, open ledger or database, using a consensus procedure that allows payments, remittance, and exchanges in a distributed process. Ripple Labs Inc. which was formerly known as Opencoin Inc. are the brains behind the development of Ripple.

Slow but steady growth

Ripple prices have gone through many highs and lows over the past few months. At the beginning of this year, Ripple started off on a high note with an incredible peak hitting an all-time high of about $3 in the whole process.

Since then, the currency has been going through significant slowdowns recording price falling to a low of $0.46 over the months. Despite the disheartening trend experienced, it appears the much-awaited recovery is finally here with us.

At the time of writing, the past 24 hours has seen the price value of Ripple (XRP) shotting up by an impressive 5% after months of stagnation. Ripple (XRP) has exploded, and the upsurge rally is all set to take the currency’s value to a more lucrative height.

Yesterday, Ripple Labs’ day began on a good footing with a valuation of $0.5 and a close at $0.63. XRP’s market capitalization also, shot up, as it went from an approximate $19.8 billion to $24.7 billion recording close to a $5 billion improvement in 24 hours.

The week-long period has been quite optimistic for the virtual currency as XRP was on a stagnant trend that boomed just like last two days. At the beginning of the week, Ripple prices were $0.475 where it picked up momentum to reach and close the week at $0.63. Ripple (XRP) market cap too went up adding $6 billion in its capitalization, from $18.6 billion to over $24 billion.

Going by what many market experts are saying and predicting, Ripple will continue with this positive growth pace until it hits the $0.8 mark.

As expected in the cryptocurrency industry, Ripple might experience some resistance on the way, but as to when that resistance is going to be experienced remains a mystery. Until then, the virtual currency is showing signs of moving even further from the projected price of 0.8 US dollar to even reach the 1 US dollar mark soon.

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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

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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