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

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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

Bitcoin

Why Blockchain Projects Keep Failing

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If you’ve been keeping up with news coming out of the blockchain community over the past year, you’ve probably heard countless projects hyped as the next best thing—only for them to fall off completely off the map a few months later. While some of these projects offered no practical solutions and seemed destined to fail, others creatively used blockchain technology to enhance the way we perform day-to-day tasks.

So, What’s the Problem?

For starters, many of these founders have no real experience running a business or managing finances. Instead, teams are usually comprised of programmers and tech geeks with the ability to develop blockchain-driven apps, but have no clue about project management, allocating resources, effective team building or marketing.

What’s more, when you look at the average blockchain start-up’s website, you’ll probably find a list of team members with accolades a mile long. And many of these “achievements” are in similar blockchain projects that have yet to take off. This makes it hard to distinguish between what is hype and what is credible information, which scares off all but the high-risk investor.

Project Success Starts at the Team Level

The sudden interest in cryptocurrency and blockchain technology can be compared to the California Gold Rush. Everyone wants to get in on the ground floor so that they can make as much money as possible.

Unfortunately, this mentality isn’t just…

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Altcoins

STEEMIT Running Out Of STEAM?

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Steemit
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Has Steemit seen its glory days run dry? There have been many rumors that the CEO Ned Scott has pushed the company to the blockchain focus that he forgot about Steem being a social media platform. Now, these are just things some of the former employees have been heard saying, but it is a rather interesting take as to what is going on. Give the following video a watch where I break down what is happening with Steem. I also give my thoughts on what may happen to other large ICOs and how we may see this trend continue as we have seen with ConsenSys laying off 10% of their workforce.

If the big name projects are starting to do this will it also have a trickle-down effect on other ICO’s which have no products and are running out of cash? I definitely think so, and I also see this negatively affecting Ethereum for the mid-term. The question many have been asking is just how long can the bottom 1800 projects last with the current market conditions? How many ICOs did not liquidate their Ethereum and now are stuck with 1/10th the cash flow or more in some cases, how will they pay to continue operations? What about the growing number of projects laying off employees like…

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Altcoins

The Three Biggest Problems with Crypto

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In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?

However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.

Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.

We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:

Scammers

Failed projects

Immature technology

Who hasn’t been scammed at least once?

The crypto community is overrun with scammers taking advantage of inexperienced and naive users. What’s more, scams don’t only occur on an individual level.…

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