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Trend analysis – Ripple (XRP) and Litecoin (LTC) continue to go down

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Ripple Litecoin
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The cryptocurrency market continues to be on a dip (again), a move that, by far, has been the most historically pronounced in the sector. Naturally, this has affected each and every one of the cryptos, but ones more than others have shown worrying behaviors that have caused panic and despair among the community, and to say the least, the speculative tendency does not seem to have a near ending.

In this sense, last week two of the most remarkable examples were Bitcoin (BTC) and Ethereum (ETH), coins that despite being the top 2 of the market haven’t been able to avoid the bearish performance of the cryptosphere. This time, another two that seem to be on the same path are without a doubt Ripple (XRP) and Litecoin (LTC), cryptos that belong as well to the crypto hall of fame. Let’s see the key points behind the most recent crypto trends.

Ripple (XRP): The bearish tendency continues

XRP USD

Snapshot is taken from TradingView

Ripple (XRP) has decreased 85% percent from its highest value set in January this year, and as it seems, the tendency is going to continue bearish, so the possibilities of reaching even lower values are very high. In fact, the token set the long-term objective at the second half of last year to hit the 25-cent mark, which at the moment remains active, a fact that will represent -48% from the actual price or -92% from its highest price of January.

In the meantime, a pattern is recognizable at first sight and is the tendency to have both lower lows and highs compared to the values that were reached by the token in May. Although it is still not discarded the possibility of a rebound like the one that we observed between April and May, even when possible the most likely to occur later is a drop of the prices one more time.

Litecoin (LTC) goes down below the trend-line resistance

LTC USD

Snapshot is taken from TradingView

The 100 line of Litecoin (LTC) recently broke and showed with it pessimistic results that even suggested the possibility of a more significant decrease. It is still not determined what will be the target of the downside unlike with Ripple (XRP), but as it is prognosticated, it will have even more remarkable repercussions, positioning down below the 40s or even worse.

The token will find support later around the 69 line, and even further on the 50. For its part, the trend-line resistance created in the peak of May was recently identified on some of the trades made, so this will serve as a guide to predict the behavior of the crypto in the mid-term.

Conclusion

The panorama for the cryptocurrency world is not the best as of now, and speculation is one of the things that have been affecting the most the market. Whether this will be a repetitive pattern still remains a question, but whether one has invested in Ripple and Litecoin or not, best thing as of now is to stay calm and see the next steps of the sector.

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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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Blogs

3 Things to Avoid if You Want Your ICO to Succeed

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Initial Coin Offerings, or ICO, have become quite popular in 2017, which is something that also continued throughout 2018. In fact, there were hundreds, if not thousands of them so far. However, no matter how many of them were organized, most never managed to make it into the market and achieve their goals.

Analysts claim that there are a lot more failed ICOs than there are successful ones, which has caused a lot of people to simply give up on the idea. However, many are still curious to know what went wrong, and while failed ICOs can be studied for years without discovering absolutely every flaw, some of the bigger ones can be spotted right away.

This is why we will now list top three reasons why so many ICOs failed, and everyone who is thinking about launching one should pay close attention.

1. The lack of demand for the product

According to estimates, around 60% of ICOs often fail at the first stage simply for the lack of interest in what they offer. When someone comes up with an idea and launches an ICO in order to raise money, they are presuming that people will be interested in investing in this idea. In addition, prior to making an announcement that an ICO is coming, it is wise to ensure that the announcement will be heard in the first place.

Additionally, ICOs need to be approved by appropriate…

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Bitcoin

Reasons Behind The New Bitcoin Crash

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Cryptocurrency investors and supporters experienced quite a shock last week with the latest Bitcoin crash. Almost every single one of top 100 cryptocurrencies trading in the red. Not only that, but most of them experienced massive losses, often larger than 12%, or even 15%.

The event was unexpected and all cryptos, with the exception of a handful of stablecoins, lost a large part of their value. However, as always, Bitcoin is the one receiving the most attention, especially since this is the first time that BTC has dropped below $6,000 in a long while. Right now, Bitcoin is still losing value, with its current price being at $5,503.11 per coin, and a drop of 12.76% in the last 24 hours.

After the initial shock, a lot of investors started wondering and researching the new crash. The main question still remains: Why did this happen?

While this is more than understandable, especially considering how much money, time, and patience people have invested in crypto, the reasons behind the new crash remain obscure to many. Because of that, we are now going to explain two events that are most likely to be causing this situation.

1. The selloff

This is believed to be the main reason for the new crash of Bitcoin. The selloff came as a consequence of the last year’s bull run, which has launched BTC and other coins to entirely new heights. Because of that, numerous…

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Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS
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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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