Ripple is doing an amazing job while climbing in the market towards acquiring a one dollar value per one XRP. This coin is more likely to reach the unofficially set goal by the end of this week, which would mean that Ripple will have set another goal – to get back at trading at its record price of around 3$ per one unit. However, what we are mostly interested in is the most recent competition craze the XRP team has started with two different competitions on board. And what about the main prize?
All XRP users got a chance to win a ticket to an exclusive invite-only happening held by XRP where Snoop Dog will be performing for the hand-picked XRP exclusive guests. Let’s find out more about this competition as well as what Ripple can gain from this kind of publicity.
Ripple Is Holding Competitions for XRP Holders
Since the case of the most recent events, you were able to follow up with a competition hosted by XRP called, Twitter Trivia. Entering this competition you are actually signing up for answering three trivia questions about XRP and Ripple. The competition started and ended on April 26th when it was announced that all XRP users would be eligible to answer trivia questions that would be asked during the day at a random time. The fastest users to get all three answers correct are the ones who will win the grand prize.
The second competition started on May 2nd and was announced to last until May 3rd. The name of this competition is Make a Meme, and on this occasion, all users were invited to make memes and tag Ripple with all memes related to predicting Ripple’s price in a funny way and in the spirit of the pop culture.
Ripple posted a press release in the name of the NYC blockchain week, stating that Snoop Dog will be performing on May 15th for an exclusive invite-only company. Due to the importance of this event, Ripple will reward the top 10 competitors from both competitions, Twitter Trivia and Make a Meme, with tickets to this exclusive event. They have further added that tickets for this event are not available for sale as the initial happening is being made for invite-only guests with the exception of also hosting this event for top ten winners.
Ripple team has also added that they are celebrating because they have managed to create faster, more scalable and cost-effective system that showcased that collaboration between cryptos and the “real world” isn’t that far away.
Can Ripple Reach 1$ Price Over this Weekend?
At the beginning of May 4th, it really seemed that Ripple had great odds to achieve the awaited price of 1$ per one unit as this currency was being dealt at the price of 0.91$ per one XRP. Just a day before, XRP was being traded at the price of 0.95$ getting even closer to the initial goal of one dollar price per one XRP.
However, we can see Ripple dropping against BTC at a minor rate of decrease while it has also dropped against the dollar, only to get back up again for 1.23%, while trying to remain its stability against this fiat currency.
Now, when Ripple is being traded at the price of 0.88$ per one unit while still being traded in the green against the dollar, although with a slight decrease that occurred in the last few hours, we can still see Ripple surging towards 1$ per one XRP in case the market doesn’t decide to plummet once again.
How is Ripple doing at the Current Moment?
Ripple has been among the top three cryptos that have managed to get close to or managed to achieve, the set goal price. That is how Bitcoin is approaching the price of 10.000$ per one BTC, while Ethereum has passed the value of 800$ per one unit.
XRP has dropped for a couple percents against the dollar while we can still see it dropping in oppose to Bitcoin, which means that Bitcoin is doing better than XRP at the moment.
However, Ripple showed a pretty flattering rate of volatility when it managed to rise back up again against the dollar only a couple of hours after dropping.
With the latest change in the market, Ripple can be traded at the price of 0.88$ per one unit, which is still far from its record price of around 3$ that was set back at the beginning of 2018, in January.
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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 Kmeron via Flickr
TRON Partnership Involves Cloud Computing
It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.
— Justin Sun (@justinsuntron) October 12, 2018
Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.
Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.
However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.
Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?
Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.
It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.
The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.
China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.
Furthermore, the country has adopted several…
Ravencoin (RVN) Surges Following Binance Listing
While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.
Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.
Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.
Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.
Ravencoin got listed on Binance prior to MainNet launch
Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.
Getting listed on Binance has brought Ravencoin to the top…
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