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There’s Never Been A Better Time To Be A Ripple (XRP) Holder

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This could be a big week for Ripple (XRP). The third-place cryptocurrency, which currently sits at the price of $0.78 giving it a market cap of $30.46 billion. This, of course, is still far below the close to $4 a piece that XRP reached at the start of last month but the $30 billion cap break is a strong threshold to break and it’s one that’s going to (with any luck, for XRP holders) draw a substantial amount of speculative volume towards the XRP market.

That aside, however, why is this going to be a big week?

Well, a couple of fundamental elements (one more impactful than the other) have hit press and each has the potential to shore up what we see as an already solid fundamental case for a Ripple speculative position right now.

Here’s what we are looking at.

The major event took place over the last couple of days and was put on by internet giant Yahoo in the form of the Yahoo All Markets Summit (AMS). For anybody not familiar with the Yahoo AMS, it’s a major annual event held by the company designed to, as its name suggests, put the spotlight on some of the potentially game changing entities currently active in major markets globally.

XRP Daily Chart

XRP Daily Chart

Of course, this time around, the blockchain and cryptocurrency space had a substantial presence at the event but no other coin was as well represented as was XRP. Brad Garlinghouse, the company’s CEO and one of the most well-known cryptocurrency billionaires (primarily derived from his XRP holdings), was a keynote speaker for the cryptocurrency side of the event and – as might be expected – he spent pretty much the whole time talking about how Ripple has the potential to change the world.

The impact of this sort of event on global speculative participation in a currency like XRP cannot be understated.

This is a roomful of tech entrepreneurs and enthusiasts, many of whom will likely already be exposed to the cryptocurrency space but, at the same time, many of whom will be looking for a way to pick up some sort of exposure near-term.

At the Yahoo AMS, Garlinghouse essentially stood in front of this crowd and told them why Ripple should be their exposure of choice.

And that’s not all. A company called Crypto Emporium just added XRP as a payment method for its customers, with the addition representing the fourth such cryptocurrency behind bitcoin, Ethereum and Litecoin to be accepted by the entity.

Sure, this isn’t a major demand boost given the size of Crypto Emporium (for anybody not familiar with the company, it’s a seller of luxury goods that only accepts cryptocurrency) but it does serve to offer up a degree of insight into the community and support that this coin has surrounding it – the addition of Ripple was the result of a vote by supporters, with XRP beating out on Verge and others to take the listing.

So what are the key levels to keep an eye on from here on out?

First up, we are watching one dollar as a near-term threshold. A break above this level would validate previous highs (at $3.80) as an immediate upside target. Beyond that, we are looking at $10 has a solid mid-2018 valuation.

Put simply, especially at current prices, there has never been a better time to hold XRP.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

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.


Image courtesy of Ripple

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Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?

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Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.

It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.

The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.

China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.

Furthermore, the country has adopted several…

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Bitcoin bull run momentum builds up; price breakout imminent

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There is no doubt that Bitcoin is the most significant and largest success story in the cryptocurrency sphere despite the volatilities the powerful digital coin has been experiencing this year. 2018 has been a rough year for major cryptocurrencies including Bitcoin that has seen the prices of the virtual currency depreciate from a high of 20,000 US dollars in January 2018, to a low of 6,400 US dollars in October 2018.

Regardless of not much powerful performance, Bitcoin still maintains being the most sought-after virtual currency in the market. In totality, Bitcoin had a price appreciation of about 150,000 percent from its listing in July 2010 to the present day.

Bitcoins Brief Historical Evolution

In its lifetime so far, the number one ranked cryptocurrency has had its fair share of mixed bear runs, and bull runs throughout the years with the longest bear run being experienced in March 2014 and March 2015. However, in its history of up and down price progression throughout the years, gains have outweighed losses and Bitcoin has managed to record impressive highs of 20,000 US dollars as at December 2017.

As for this year, 2018 has been a nightmare for Bitcoin as its bullish gains have been low, recording shorter runs that have given rise to general losses attracting undue media attention from the general public and governments.

The Future of Bitcoin by Market Indicators

According to technical perspectives regarding Bitcoin price movements…

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Institutional investment presumption to send ETH, XRP, and Bitcoin high

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These days it points out that institutional investors slowly are gaining interest in the cryptocurrency domain. Practically, a real-world working model will attract institutional investors automatically from all over the globe. They will look for an opportunity to invest in the cryptocurrency industry if not necessarily in coins such as Bitcoin, Ripple’s XRP or Ethereum, and it seems like that moment is already at hand.

State of the Market

The past 24 hours have been stable for the crypto market as the entire market has seen steadiness in their trade. For that reason, the general market value has been lifted to $210.6 billion.

The state of the market has seen the price of Bitcoin go up by 0.7% to the $6,537 lifting its market cap to $113.2 billion. Bitcoin cash has stayed stable too at $466 representing a slight drop of 0.56% and the market cap being $7.7 billion.

Also, Ethereum price dropped 0.59% to $205.87 giving it a market cap of $21.1 billion, and as for Ripple (XRP), a similar trend was experienced whereby it dropped by 0.15% to stand just above 46 U.S cents making its market cap to stand at $18.5 billion.

The stability in the cryptocurrencies is a positive gain as that increases hopes and chances for the institutional investments.

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