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Ripple (XRP) Price Goes Down by 90%

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Recent price correction has been hard on a lot of cryptos. However, while most of them are showing signs of recovery, Ripple (XRP) continues to struggle in the red.

Ripple (XRP) losses reach 90%

After days of price drops, a lot of cryptos have seemingly entered another period of recovery, however brief it may turn out to be. However, while the majority of the top 20 cryptos got a well-deserved break, Ripple (XRP) doesn’t seem to be so lucky, and it actually continues to remain quite weak. XRP/USD is down by 0.50% in the previous 24 hours, which might mean that Ripple is only late, and the price correction seems to be slowing down.

However, the correction has been extremely hard on Ripple, and its extended nature took up to 90% of the crypto’s value. This puts XRP among the worst-performing coins of the year, and that is saying a lot considering how bad this year has been for cryptos, in general.

Ripple’ trading volume is down to a little over $188 million, which is a new low for this coin. However, the number of the coin’s supporters still remains the same, and a lot of them remain positive regarding the coin’s future. For now, however, that future will have to wait, as Ripple has yet to go through with the process of price correction.

Experts claim that Ripple’s price will continue to drop until the coin finds a bottom or the lowest possible worth that it can have. While all of this seems to be pretty bad for Ripple, many actually see it as a positive progress. While the price is going down, this is seen as an opportunity to see what Ripple’s bottom is like. In the long run, the coin’s price can easily jump back up, as seen with numerous other coins times and times again. After all, Ripple cannot reach new heights without first exploring its deepest lows.

The good thing is that Ripple holders are still holding on to their coins, even as price continues to drop. It is believed that these investors still hold XRP in high regard and that they believe that the coin will pull its own weight when the time comes. After all, XRP’s behavior has been proven to follow a certain cycle, and when the time comes and its price spikes up again, many are confident that it might even go as high as $5 per coin.

Ripple has had some big setbacks

Ripple has suffered a lot of setbacks recently, even if this year has been quite successful in other aspects. One of its biggest disappointments was the fact that Coinbase decided to add Ethereum Classic (ETC) instead of XRP, as everyone expected. And while Ripple’s partnership with Western Union was originally seen as a big deal, the company’s CEO stated that the use of Ripple’s products is not making almost any difference.

Despite all of these setbacks, Ripple managed to remain relevant and to keep its supporters. Recently, it also received support from Madonna, as well as Bill Clinton. However, while Ripple (the company) received a significant amount of credibility thanks to this support, Ripple (the cryptocurrency) did not really benefit from the support at all. Many believe that this won’t happen until Ripple’s products become the main method of sending money for a significant financial institution, or institutions.

Fundamentally speaking, Ripple might be appearing uncertain. However, this is clearly not the case if we take a look at technical details. For example, XRP/BTC tells a completely different story, especially now when Ripple’s price against Bitcoin has completed its correction. The next few weeks are expected to see Ripple rise against Bitcoin, but there is still a question of how will this affect the XRP/USD situation.

Many believe that Ripple will soon find its bottom and that this will be followed by the largest price spike that XRP has experienced so far. While there are still positive developments regarding the coin, and it is known to be moving in cycles, it is everyone’s hope that the things will move for the better sooner, rather than later.

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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.

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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