Connect with us

Blogs

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

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

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.

loading...

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.

For the latest cryptocurrency news, join our Telegram!

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

DGB Price Prediction For 2018 and Beyond

Published

on

DGB price prediction
READ LATER - DOWNLOAD THIS POST AS PDF

With the crypto market being constantly bearish throughout this year, a lot of investors are having second thoughts about buying additional coins. While some large cryptocurrencies like Bitcoin or Ethereum can be considered safe investments, smaller coins like Digibyte (DGB) often receive a lot of doubt. This is why the DGB price prediction is necessary so that the investors can know what to expect.

DGB Price Prediction

DGB has had its ups and downs throughout this year, and at some point, it even went up by 70%. However, the constant bear market affected it just as much as numerous other cryptos. This has brought its value down to its current $0.025378 per coin. Some optimistic predictions from earlier dates saw the coin reaching as high a price as $9.20 by the year’s end. However, as we approach the date, it seems less and less likely that this DGB price prediction will come true.

The coin is generally seen as a profitable investment. As it is always the case with cryptocurrencies, they should be bought when their prices are down, so that a profit could be made when they spike up once more. Digibyte is no different, but it should be noted that investing in this coin means having patience. DGB is not among the coins that will make you rich overnight, and instead, it should be seen as a long-term investment.

Even though 2018 has been as…

Continue Reading

Altcoins

Why ZCash (ZEC) Is Heading to $10k

Published

on

ZCash
READ LATER - DOWNLOAD THIS POST AS PDF

Back in mid-May, the Winklevoss Twins made the headlines for embracing ZCash (ZEC) as one of its major digital assets on their groundbreaking Gemini exchange. When the announcement was made, ZEC rallied in the market by showing a 45% increment in value. The coin made it to $357 in a matter of hours.

Further assessing the currently available digital assets on the Gemini platform, we find that the exchange currently has USD pairings for only Bitcoin (BTC), Ethereum and ZEC. There is also additional pairings of ETH/BTC, ZEC/BTC and ZEC/ETH with plans to onboard Litecoin in the coming days.

Another thing to note is that the exchange also provides custodial services for institutional investors thus giving ZEC the much-needed exposure to the firms on Wall Street. Custodial services provide a guarantee that all digital assets on the platform are stored by a licensed entity thus extinguishing any cybersecurity concerns. For an entity to be licensed in New York for custodial services, the proper due diligence and research have been done.

Another thing that makes the Gemini exchange attractive and appealing to institutional investors, is that all USD deposits are insured by the FDIC. The latter entity is the Federal Deposit Insurance Corporation that provides insurance for USD deposits in American banks. This means that once again, the funds of individual and institutional investors are safe and insured, further making…

Continue Reading

Altcoins

Ripple XRP Mega Breakout: What’s Next?

Published

on

Ripple XRP mega breakout
READ LATER - DOWNLOAD THIS POST AS PDF

The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

Continue Reading

Trending