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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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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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