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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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