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Ripple (XRP) Price Goes Down by 90%

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Ripple
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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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