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Ripple (XRP) Is Taking 10 XRP Holders to an Invite-Only Snoop Dogg Performance

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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

Blogs

Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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