Connect with us

Altcoins

Ripple (XRP): The reversal is real

Published

on

Ripple XRP

There are all sorts of times where cryptocurrency investors and traders are “faked out” by a price rally and decide that it might be time for an entry – only to find out, to their dismay, that the cryptocurrency that they entered has ended up pulling back and consolidating.

Well, one thing is for sure – Ripple’s XRP is showing a real reversal here. In the past 24 hours (on top of huge price boosts in the last couple of days); it has boasted an absolute staggering 17.8% gain, which is incredible, considering the fact that the entire cryptocurrency market has been bearish for months.

It is extremely clear now that if you were to buy in the extremely oversold months of July or August, it would have been a wise decision. Unlike other cryptocurrency projects, Ripple has some concrete partnerships with real financial institutions, but this sustained price action indicates that market confidence has indeed returned to the project, as this price action is not continuing because of any one specific catalyst.

Even in the past week, the keyword researches for “XRP” and “Ripple” have increased. That isn’t surprising, considering there are executives on the team that have been teasing that a cryptocurrency-based product will be launched shortly, in as soon as several weeks.

That is excellent news, but it needs to be noted that XRP has been affected by the market adversely, so this confirmed reversal is great, but many long-term investors, though they might be breathing a little easier, are by no means relieved.

For some context, XRP dropped an astonishing 46 percent from June to July, a period during which bitcoin didn’t even fall by 10%, as it slid from $6700 to $6100.

Regardless, Ripple and its upcoming products clearly mean that institutional money will be entering the market, and it’s evident that investors and traders are pleased with the positive developments. It is obvious that this Ripple reversal is real, and time will tell just how far the price goes up.

Bitcoin is continuing to stabilize, as some believe that a solid bottom has been formed. Of course, time will tell whether this is true. Regardless, one thing is for sure – money is coming back into the market, and many expect the entire market to be mildly bullish throughout the rest of September.

The volume of the global cryptocurrency exchange market is $2 billion, more than usual, and it would appear that this means that investors and traders and placing more buy pressure on in the market.

It’s easy to see that Ripple is leading the pack, and that shouldn’t be too surprising, because of two things: it has been severely oversold for some time now, and it also has had some exciting announcements. In addition to all of this, the upcoming developments mean that this XRP price reversal might be sustained, and the only question now is where exactly Ripple’s XRP will encounter some resistance.

For the latest cryptocurrency news, join our Telegram!

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. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Filip Mroz on Unsplash

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

Published

on

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…

Continue Reading

Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

Published

on

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…

Continue Reading

Altcoins

3 Reasons Why Liquidity Dividends Protocol (LID) Will Be a Huge Winner

Published

on

Liquidity Dividends Protocol

Since 2017, cryptocurrency has experienced both the crazy highs and the crazy lows with fortunes being made and lost overnight.  That volatility is one of the main reasons why cryptocurrency has been relatively slow to gain mass adoption.  In addition to volatility, another concern for many is the lack of security and regulation in the market.  This can be seen through the countless exchange hacks and rug pulls that seem to occur on a weekly basis.  In order for cryptocurrency to move into the next stage of maturity and bring on mass adoption, investors and users will need to feel secure knowing that their funds are safe.  One promising organization that may have the perfect solution is Liquidity Dividends Protocol (LID).

What is Liquidity Dividends Protocol?

Liquidity Dividends Protocol is an up and coming organization that provides locked liquidity services to cryptocurrency projects that launch their offerings through ERC-20 tokens.  It lets non-custodial pre-sales lock liquidity of a token in a trustless manner through Uniswap.  This locking process will prevent every investor’s worst nightmare of seeing their hard-earned money disappear through “rug pull” scams that are designed to remove liquidity out of DeFi projects.

This year has seen an explosion of interest in Uniswap and DeFi projects.  Many investors have generated enormous returns on investments, but many have experienced the pain of being duped.  Below are three reasons why LID Protocol is poised to be a massive winner in…

Continue Reading

Press Release