Connect with us

Bitcoin

Here Are Two Reasons To Buy Ripple (XRP) Right Now

Published

on

Ripple XRP

On January 17, 2018, Ripple (XRP) dipped to less than $0.92 a piece. From highs above $3.80, this represented an overarching decline of more than 75%. Since then, however, the lows have proven to be just that and the coin has recovered substantially.

Right now, XRP changes hands for around $1.35 – a more than 46% premium to the January 17 pricing.

In the last twenty-four hours alone, we’ve seen Ripple climb more than 10% against BTC and around 4% versus the USD, with volume across this period hitting $1.47 billion and the coin’s total market cap reaching $52 billion.

We think that this recent action marks a real turnaround point for Ripple and its coin and, as a result, we see current pricing as a strong opportunity to pick up a cheap exposure to XRP heading forward.

That’s long-term, sure, but there’s also a near-term catalyst that just hit press that is going to facilitate a large influx of speculative volume flowing towards the coin and, in turn, could serve as a catalyst to compound the current recovery-based momentum and really get the coin moving back up towards the above-mentioned highs.

So what are we thinking?

Well, first, let’s address the near-term catalyst.

Ripple just reported that BitOasis is set to allow trading in XRP for all of its users, starting January 30, 2018 – so, from tomorrow. BitOasis is one of the largest exchanges in the world, having first launched back in 2014, at which point it became the first digital asset exchange in the MENA region (which, for anyone not familiar with the term, is an acronym for Middle East and North Africa and refers to the oil and natural resource-rich region).

XRP Daily Chart

XRP Daily Chart

BitOasis started offering Ethereum early last year and, on the back of the listing, facilitated a never before available large-scale access to Ethereum and ETH for those residing in the MENA region, which in turn, translated to a boost in the price of ETH.

With interest in XRP at pretty much an all-time high, there’s no doubt a large base of MENA-centric individuals looking to gain exposure to the coin and the company that’s behind it, and the BitOasis listing will offer this base an opportunity to do exactly that.

So that’s the near-term catalyst, but there’s more to the story today.

Over the last couple of weeks, we’ve highlighted the large number of pilot programs that Ripple is running, each of which is set up to investigate the potential impact of certain companies adopting its core technology, XRP, or both.

These pilot programs are going to pave the way for mass adoption of XRP and Ripple technology, meaning their outcome is extremely important for the future of the coin and, in turn, the success of any investment in XRP at this point in time.

Which is why, then, on January 25, we were delighted to see Ripple report this update (rooted in one of its pilot programs with a company called Cualix) via the company’s official Twitter account:

 


It’s worth noting that this particular program isn’t huge, so in the interest of balance we’ve got to say that traders and investors should keep that in mind (larger programs, naturally, are more representative of Ripple’s potential impact on a company’s existing processes) but, with that said, there’s no reason not to scale up positive results – especially when you consider that Ripple’s tech is very easily scalable in and of itself.

So that’s one near-term catalyst combined with a confirmation that the long-term value drivers (the pilot programs) are producing favorable results.

Next up – a break of previous highs.

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.

Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

Published

on

Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

Continue Reading

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

on

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 trading…

Continue Reading

Bitcoin

Wisebitcoin Launches Professional-Grade Crypto Exchange

Published

on

Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

Continue Reading

Press Release