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Ripple (XRP) Sudden Spike Is Just What the Crypto Market Needs

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Ripple
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Cryptocurrency trading can be a hassle to many, especially traders who have invested their entire fortune in cryptocurrencies like Bitcoin, Ripple, Ethereum and the others. While it’s true that the volatile nature of the crypto-market is also the cause for high returns, the overall market situation may appear discouraging to some traders. The majority of the world’s cryptocurrencies have faced such a crisis from the beginning of the year, mainly due to a combination of factors that have driven away some investors.

However, the situation is starting to improve drastically due to Ripple’s recent spike in value, propelling the Cryptocurrency to the very top once again. At the time of writing, Ripple has a total market cap of $25,162,686,285 USD with a total circulating supply of 39,122,794,968 XRP Tokens. It is currently valued at a high of $0.645033 USD as of 13/04/2018.

Ripple’s Recent Market Performance:

Ripple is having one of its best performing weeks this year, adding another $62 Billion to its combined market value. This morning (13/04), it has achieved a total market value of an excess of $131 Billion, as reported by coinmarketcap. The main gains can be attributed to price movements which occurred overnight, as did Bitcoin’s value. This means Ripple has gained just under 16% from the same time the day before.

Reasons behind Ripple Sudden Spike:

Crypto analysts and industry experts all agree that the main reason behind Ripple’s spike is a variety of factors, spearheaded by Bitcoin’s recent surge in price.

However, the Ripple development team has been working tirelessly to drive the entire system forward for an easier integration of cryptocurrencies into the mainstream. Hence, Ripple’s own contributions cannot be undermined, which we will discuss below.

  1. Blockchain Capital Investment: Blockchain Capital announced in March about an apparent funding, where they secured $150 Million dollars for both its IV LP fund and its Parallel Fund IV. It was then revealed that Ripple was behind the funding, investing a total of $25 million worth of tokens to the company. The company’s goal is to help blockchain start-ups as an incubator while exploring use cases for its in-house XRP ledger and interledger protocol. The interest of investors has been sky high and has fuelled the positive sentiments around Ripple.
  2. The Santander news: Ripple’s price movements really picked up just after Santander’s recent announcement. The Spanish banking giant recently revealed that it is launching a brand new retail app for international payments, based on Ripple’s famed blockchain technology. This piece of news had an immense impact on Ripple’s price almost immediately, with the value jumping from a high of $ 0.548455 on April 11th to $ 0.644518 on April 12th. Santander has been implementing xCurrent, enterprise blockchain software based on Ripple. Since Santander is a powerhouse in the Spanish economy, investor sentiment was at an all-time high, which in turn fuelled Ripple’s drastic price change.

Final Thoughts

Ripple together with Ethereum and Bitcoin has always been known as the top three, having an enormous influence on the overall Cryptocurrency market. In an environment where volatility is determined by market sentiment, Ripple’s recent developments would only further expand its value. Apart from the Santander deal, Ripple has been in talks with several banks worldwide, including a consortium of 60 Japanese banks who are in talks to develop a similar app based on Ripple’s technology. Ripple’s primary focus on integrating with banks and other financial institutions is thus welcome news for the community, which is hoping on extending its influence and adaption worldwide. With over 1600+ Cryptocurrencies in existence today, Ripple takes the top spot in spearheading the Cryptocurrency revolution.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up for our free newsletter!

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 Adam via Flickr

Altcoins

HODLing Stellar Is A Good Plan For 2019

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HODLing
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HODLing, or holding on to a certain asset or assets has always been an extremely useful investment strategy, even before cryptocurrencies were even imagined. Now, with the market being more uncertain than ever, many are wondering what is the right thing to do with the coins in their possession.

Of course, things change depending on the coin in question, but today, we are going to talk about why it is a good idea to hold on to your Stellar (XLM) in 2019.

Why You Should Hodl Stellar (XLM)

The crypto market is rich with hundreds, and even thousands of different projects at this point, and separating valuable ones from those that are destined to slowly fade away can be tricky. However, even the biggest skeptics believe that Stellar is a coin that is here to stay.

XLM was first launched in 2014, and for a long time now, it has been among the top 10 cryptos by market cap. It is an open-source, decentralized protocol that allows users to send fiat currencies by using cryptocurrency as a method of transport. In a lot of ways, it is very similar to XRP. However, the biggest difference is that Stellar aims to offer its services to regular people, while XRP is more interested in working with banks and financial institutions.

Nevertheless, sending money, especially when it comes to cross-border…

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Altcoins

Reasons To Invest In Electroneum In 2019

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2018 has been quite a rollercoaster for the crypto space. Coins went up and down more times than anyone could have guessed, not to mention two massive market crashes. However, in a few short weeks, the year will be over, and a new, positive period for the crypto world is expected to arrive.

While there are many predictions for 2019, today we are only interested in one thing — Electroneum (ETN). A lot of people quickly took notice of this coin, and many believe that it is among the coins of the future. Indeed, it has received a lot of attention, and many are interested in why that is, and why investing in it is a good idea. So, let’s take a look at a few reasons why you should invest in ETN in 2019.

1) It is fast

Speed and precision of any service have always been very important to people. This importance is even greater when making a profit depends on it. Electroneum developers were aware of this when they created it, and the coin is up to 5 times faster than Bitcoin. This means that ETN transactions can be confirmed much faster, which in turn reduces fees and waiting time.

Furthermore, there are also plans to create Electroneum Virtual Currency Exchange, which will allow the project to act as an exchange. However, the even…

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Bitcoin

SEC Postpones Bitcoin ETF Decision Once Again

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The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.

The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.

The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.

Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman

Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.

Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them…

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