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

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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

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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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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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