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.
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Reasons Why 2019 May Be A Great Year For Crypto
The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.
The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.
With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.
1) Bearish market to loosen its grip
The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…
3 Coins with the Largest Potential in 2019
2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.
Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.
Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.
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Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.
The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.
However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.
1) Ethereum (ETH)
Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…
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