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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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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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