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Ripple’s XRP depreciates below 35 cents, will it rise on its feet again?
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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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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