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Ripple’s XRP depreciates below 35 cents, will it rise on its feet again?

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According to the recent report released by a group of financial experts on 2018 cryptocurrency market fluctuations, July was the month that witnessed the market capitalization appreciate from about 258 billion US dollars to 278 billion US dollars. An almost 8 percent growth of over 20 billion US dollars.

In July again, Bitcoin’s supremacy grew remarkably from 42 percent to 48 percent, to show the value increase in the virtual currency market cap was highly influenced by the value growth of the number one ranked cryptocurrency, Bitcoin. In July duration, Bitcoin’s market capitalization grew by over 23 billion US dollars. The total influence of altcoins on the market cap was a negative -3.7 billion US dollars.

The 4th and 8th cryptocurrencies dominance in the crypto market recorded a 74.8 percent and 82 percent dominance in the market as of 1st August 2018.

According to July’s minimum to maximum cryptocurrency market cap fluctuations of 244 billion US dollars to 303 billion US dollars, Bitcoin market cap fluctuation recorded a minimum of 106 billion US dollars to a maximum 143.6 billion US dollar market cap that contributed over 37 US dollar billion worth of market cap to the crypto market capitalization figure.

This week’s market trend has seen the latest downward trend of 253.8 billion US dollars.

Ripple (XRP) Prices Fall Below the 35 Cents Price Level

The cryptocurrency community woke up to the shocking news of the market loss of 5 billion market valuation, as major virtual currencies including Ripple and Bitcoin recorded losses in 24 hours.

Bitcoin and Ethereum’s default virtual currency, Ether, depreciated by around 0.15% only, while Ripple and Bitcoin Cash prices fell by 16.53% and 13.38% respectively within the last 24 hours. Tough blow.

It was not all sad, and gloom in the crypto market as digital assets such as NEO, Stellar, and IOTA recorded slight gains against the US dollar and Bitcoin in the past few days after demonstrating huge losses over the past two days. But now, again, the prices of Stellar, IOTA, and NEO fell by 12.74%, 18.12%, and 16.2% respectively.

Considering Ripple’s current prices, many cryptocurrency analysts and observers agree that XRP will not only be able to rise again on its feet, but it will be able to create new valuation highs as well. Investors and traders are being advised to buy Ripple (XRP) right now as experts believe that it is the right time to invest in the digital asset before its prices skyrocket.

But if you look at the numbers, it is among the biggest losers of the current crypto bear run. The question arises, will Ripple (XRP) be able to recover again?

Even though a decline in Bitcoin price affects all other altcoins and Ripple’s XRP is not able to free its hand from BTC as of now. Still, why it has dipped way below even the bitcoin if you look at the percentage, is the concern.

Ripple’s constant addition of new clients is not news for crypto enthusiasts as the blockchain technology has managed to not only add new clients in its ever-expanding portfolio, but it adds premium clients such as big banks all over the world.

Also, many financial institutions and banks all over the world are adopting the Ripple protocol in their cross-border money transfer activities.

Many experts attribute this factor to Ripple’s current undervalued nature. Arguing that as the digital currency continues to add more big names under its name, Ripple (XRP) will most likely be able to stabilize and increase its XRP prices and market cap significantly. That said, if you’re an XRP HODLer it won’t be a smooth recovery (I believe), you need a lot of patience and courage to not panic now.

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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