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How is Ripple (XRP) expected to perform this month, November 2018?

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XRP

Ripple (XRP) has been faring quite well in the market lately and has been continuously trending due to its partnerships and notable strides. Recently, the company released its Q3 report and so far; it has sold $163 million worth of XRP programmatically, even though there has been a decline in the total market capitalization of digital assets by 12%.

Now, as November is here, many experts say that bullish momentum is upcoming for XRP. But you never know how deep is the sea unless you dive into it, right? Let’s take a look at some technical and non-technical reasons why they believe so.

XRP’s Market Activity

It is important to know that XRP’s chart so far showed a slight dip on it’s from $0.24 to $0.79 in August. Although at the moment, it hasn’t gone beyond the $0.50 mark. XRP is standing at $0.45 at the time of writing with a market cap of $18.2 million.

Ripple, the blockchain firm behind XRP who happens to be its native token, has been in the news as a result of its quest to boost cross-border payments around the world today. One of the exciting Ripple news from the recent time is, RippleLabs have hired Amir Sargangi, the CEO of Jibe Mobile, who was also the Google employee (worked as the leader of the messaging tech for the search engine giant).

Sargangi was also involved in the creation of Rich Communication Services (RCS), as an improved messaging standard that would change the mobile messaging.  It is excellent news for the company that Sargangi will now work with Ripple as the VP of products of RippleNet.

However, with Sargangi being hired to be an executive with Ripple, it’s not yet sure if RCS’ technology will be added to RippleNet. Although, other rivals to Ripple have made use of RCS’ technology to send money from one place to another. Nevertheless, Ripple states that the experience of Sargangi will be very vital.

Subsequently, it appears that Ripple is still in the process of mass acquisition and we might see a lot of this in November. Even if there will be lots of acquisitions in November, they are still some certainties that a bearish trend might occur due to the activities of Bitcoin and Ethereum.

Technically speaking, the 1-Day chart of XRP may perform better at the mid of November, despite the bearish momentum occurring in the crypto-market lately. The RSI Stochastic still points bearish and there are certain probabilities that the 0.236 Fibonacci may come up again, thus, testing $0.38 again before moving up.

Another certainty is that a bullish occurrence may spin XRP to increase, making its SMAs test $0.78.

Research by Nouvive (the platform that boasts to be the home for crypto traders and investors) shows that XRP is bullish on a short-term and long-term in November. The research also realizes that XRP might turn ultra-bullish as a result of more positive news around it (if any hits the market).

All in all, due to the market trends so far concerning XRP, there is a high chance of XRP staying bullish this month.

Ripple, on the other hand, took part in the Money 20/20 conference in the mid of last month, and the firm has stated through its CTO, David Schwartz, that blockchain is the solution to revolutionize cross-border payments. Many FinTech companies are beginning to embrace blockchain technology with Ripple being forefront.

Consequently, as things stand, Ripple (XRP) is expected to be on a steady growth line this month (given that all goes well). But, we should never fall for the hype. The cryptocurrency won’t explode or go to the moon this month. The XRP value will increase over time as the adoption keeps improving, and that happens to be slow, literally always.

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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 Pixabay

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Currency Market

How PayPal Sparked The Next Crypto Gold Rush

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Bitcoin

The astounding thing about the world of cryptocurrencies is how fast things can move when there’s a catalyst for change. For Bitcoin, the world’s most famous cryptocurrency looked set to spend the final months of 2020 taking a back seat to the rapidly developing DeFi landscape. One PayPal announcement later and it’s closing in on its all-time high value

The 2020 crypto gold rush was sparked into life on October 21st when payment giant PayPal announced that they would be accommodating cryptocurrencies like Bitcoin, Ethereum, Litecoin and Bitcoin Cash – allowing its network of 286 million users to buy and sell cryptocurrency. The coins could then be used to make purchases from the 26 million sellers that accept PayPal, the organization announced. 

The notion of 286 million users suddenly gaining access to cryptocurrencies has prompted some enthusiasts and investors to believe that the world of crypto is on the precipice of arriving into mainstream usage. 

Bitcoin Price

(Image: CoinGecko)

As the chart above shows, in the 30 days that followed the PayPal announcement, the price of Bitcoin has climbed by an astonishing 53%. Continue Reading

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