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Ripple (XRP) June loss was 35%; can it recover after new 2018 lows?

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Ripple XRP
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At the moment, the value of Ripple (XRP) is on the low side, dropping to 4.51% in last seven days. In the previous 24 hours, Ripple (XRP) got stable a bit (alongside the whole crypto market) and went down by 0.59% only. Just a couple of days ago, the coin reached its new lows this month to $0.453.

So, Ripple’s price fell from 0.546 USD earlier last week, but the price is now at $0.457. The dip margin doesn’t look significant despite the crypto-market being at a turbulent state lately.

The current trend with Ripple (XRP) takes us back to last year before the price increase with all cryptocurrencies from December last year to January this year. During the price increase, XRP recorded a surge from 0.45 to 3.81 USD – the price surge in the market only lasted till January.

Cryptocurrencies had an exponential increase in price in April 2017, but XRP didn’t really have many profits. Although Ripple (XRP) had a 60% boost in April, if we are to compare with other cryptos, Ripple’s percentage boost wasn’t up to the mark as other coins had a triple value to it at that time.

If we take a look at Ripple’s trend every month, there isn’t much to be happy about; this is due to the fact that it had a 35% fall since 4th of June when XRP was valued at $0.703 per coin.

CryptoCompare MJAC Blockchain Summit

During the 2018 CryptoCompare MJAC Blockchain Summit, in London, Ripple’s Daniel Aranda talked about the company’s future, the upcoming new type of internet called IoV (Internet of Value), and Ripple’s role in this new type of internet.

Aranda disclosed how Ripple could introduce the IoV to the world:

We think that if the internet today is tethered with packets of information and data being sent around, the internet of value will have a similar kind of architecture, but what will be sent around is money”

Aranda’s comment during the blockchain summit in London means that Ripple and XRP (Ripple’s cryptocurrency) will be the ‘backbone’ of the Internet of Value.

Ripple and XRP have revolutionized the way in which cross-border financial settlements can be made; in this view, Aranda also stressed the importance of Ripple (XRP) in changing the Financial Industry today. Furthermore, he disclosed that Ripple surpasses SWIFT when it comes to its cross-border innovations. Aranda stated during the blockchain summit:

I think what you can expect from Ripple is more focus and traction around cross-border payments. If one of our early competitors is SWIFT, then what we offer has to be really good if we’re to beat them. We think out traction is playing out, and network effects are starting to build around that.”

Therefore, we can see that Ripple (XRP) is futuristic and it holds lots of plans for the future. There are more to come from the cryptocurrency which might increase its current price value in the crypto market, and help it recover quicker than many might be thinking it’s possible. We just need to wait and see Ripple XRP touching new heights soon, predicting ‘exactly’ when that’s going to happen is tough, though.

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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

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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