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Ripple (XRP) Still has Time for a Comeback

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Ripple
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So far, 2018 has been a very bad year for Ripple (XRP). The crypto’s rise at the end of 2017 has been extremely promising, but in the following months, the coin continued to go further and further down. However, there is still time for Ripple to make a comeback and make significant gains.

Large hopes for Ripple (XRP)

Everything seemed to be fine with Ripple back in December 2017. Just like other cryptos, XRP skyrocketed and became one of the most popular coins on the market. In fact, it even managed to pass Ethereum (ETH), and many believed that it will become Bitcoin’s (BTC) direct competitor.

Many believed that Ripple is to become the top currency in no time. Some even claimed that it is still way too early for fully-decentralized currencies to dominate the market and that Ripple is the way to go. Its nature and the situation have made it extremely popular, not only with crypto investors but also with financial institutions and some of the largest banks around the world.

Ripple has been making partnerships all over the place, and almost every week has seen some sort of positive development. Names like Western Union, Santander, MoneyGram, Bank of America, and alike all hurried to partner up with this coin. The price of the crypto was expected to continue to rise, and nobody hesitated to jump on the XRP train, while it was still early.

Some predictions even stated that it is only a matter of time when Ripple will jump from 20 cents per coin to the price of Bitcoin. Such an increase, while astronomical, was always a possibility when it comes to the crypto world. Unfortunately, it never came to be, and it was all downhill from there for XRP.

And then everything changed

Soon enough, Ripple went down, and a lot. After it reached a price of $3.40 per unit, it quickly fell to $0.18 as soon as the crypto prices dropped at the beginning of the year. However, a lot of investors still believe that Ripple can, and will, make a large comeback by the end of the year.

Despite the low price, XRP still stands as one of the cryptos with the highest number of token holders. Basically, this means that people have not given up on Ripple yet, and many are waiting for the market to turn. Once it happens, some believe that Ripple will beat its former top price, and maybe even go as high as $10 per coin. This is, of course, significantly lower than the predictions that Ripple’s price will reach Bitcoins. However, even so, it would still be better than for Ripple to stay at its current price of $0.435990.

Fortunately for all these investors, Ripple seems to be doing well lately, and its charts are indicating that the crypto might finally be on a stable and serious rise again. This goes for the US dollar, as well as Bitcoin (BTC). The charts are actually relatively similar, and if Ripple continues on the current path, the coin might even be restored to its former glory before the year ends.

Despite the controversy and lawsuits that claim that Ripple is a security, which is something that its team continues to deny, the coin still holds the third place as per CoinMarketCap. Various partnerships and several products that Ripple has released continue to guarantee that the crypto is, in fact, needed on a large scale. The coin’s work on enabling better cross-border transactions is one of the strongest reasons for many to believe that Ripple will stick around and that its price will eventually make a comeback.

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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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Blogs

Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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