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The reason why Ripple went into the red again before bouncing today - Global Coin Report
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The reason why Ripple went into the red again before bouncing today

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Ripple
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The cryptocurrency market is at that time when things are going sluggishly, again. Not much to complain concerning the recent market crash after a little surprise earlier, the market hasn’t been at its best; this means that a token sell-off by any digital asset might have some detrimental effects. That is probably what is going on with Ripple (XRP) at the moment even though it recently experienced a sharp price surge and remains in the third position considering the market capitalization.

Ripple has profited from the XRP’s value over time and from various projects which includes Xpring. It has also made many profits by investing in other businesses. One of the co-founders of Ripple, Jed McCaleb, who also started the cryptocurrency exchange known as Mt.Gox, and Stellar (XLM), has decided to accelerate the sales of XRP tokens he holds.

It is important to know that McCaleb left Ripple a few years back to start his very own blockchain platform. However, he has been selling XRP tokens for quite some time but has just decided to increase the sale of his XRP tokens now. The announcement has added more pressure on Ripple even after it experienced more than a 70% plunge this year alone.

McCaleb’s sell-off is not good news for Ripple’s XRP investors. Let’s recall that Ripple still is a start-up company; thus, a sudden sell-off could make the company face severe difficulties.

XRP is one of Ripple’s product, and it is worth $29 billion currently (the total market cap); not to forget that the token attained a worth of $118 billion in the past. XRP’s value has decreased as a result of the market plunge this year.

Despite getting crushed throughout this year, the cryptocurrency experienced a huge surge about five days ago but only to slow down again as it lost about 15% of its value in the last 48 hours again before going up just now after the announcement by Coinbase that they will be listing new cryptocurrencies. Many are speculating that the rapid sell-off of XRP tokens by McCaleb has caused the Ripple token price to go down sharply again.

On the other hand, McCaleb stated this through an email:

I’m not selling more than I have agreed to with Ripple.”

That was the only statement of McCaleb, and he has refused to say anything further.

Daily Market Capitalization

In 2012, Ripple was created with the sole aim of providing the best solution for cross-border payments. The blockchain start-up raised more than $90 billion through venture capital companies such as Andreessen Horowitz, RRE Ventures and Founders Fund at the beginning of the year – besides the $60 Billion XRP tokens at hand.

In 2016, McCaleb signed a deal with Ripple, but the deal is tied to daily capitalization which is based on a certain percentage of the average daily volume of XRP which was reviewed to make sure the market was orderly. After the deal was struck, McCaleb and his family owned about 5.3 billion tokens, which includes two billion donor-advised funds.

Even though McCaleb possessed 7.3% of the tokens, he sold just a little part of it – about 0.75% capitalization. Now, this is McCaleb’s third year of selling XRP tokens. It is necessary to know that by August, his sales grew. He started selling 499, 312 XRP daily. And now, at one point in a week this month, McCaleb sales increased to more than $100,000.

As per the Wall Street Journal publication,

average daily trading volume of XRP on the Ripple consensus ledger… hasn’t changed considerably in recent months and not enough to account for the change in his daily sales.”

In a response online, Ripple has refuted the assertions, further emphasizing that its former co-founder does not have a direct influence over his XRP tokens which are being held under the “custody account” with the agreement signed in 2014, by both parties.

But seeing the sudden fall in Ripple right after the McCaleb XRP sell-off news spreading in the market, many started questioning that it could be the reasons behind recent Ripple crash. At the time of press, the cryptocurrency trades in green again, thanks to today’s Coinbase announcement. As it looks, the coin wants the number two spot back. Let’s see how high Ripple surges this time.

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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. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Joshua Rawson-Harris on Unsplash

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Top 4 Cryptocurrencies to Bet on in 2019

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The crypto winter ended and Bitcoin is breaking through the $5000 resistance barrier and leading a general charge in bullishness among cryptocurrencies has seen more positivity in the market than ever before. However, before any talk of a crypto spring should start, we need to look at what happened during the winter.

Many different platforms were either fully released or improved upon significantly. There has been a surge of innovation and the crystallization of ideas. The market isn’t just about crypto trading or bitcoin trading; it has become more about what businesses will leverage blockchain in the best way. Investors need to look at what a coin offers beyond just being a cryptocurrency. What partners does it have, what is the long term plan and is it liquid enough?

Investing in altcoins has never been a better option than right now. The volatility index shows that the market is growing without having to rely on Bitcoin. While Bitcoin still determines and up or down trend, the altcoins do not follow this trend exactly. More and more tokens and coins are surviving and thriving on their own merits rather than riding in Bitcoin’s wake.

The four coins to follow are our pick for the top 4 cryptocurrencies most likely to give you substantial returns by the end of 2019.

Stellar Lumens (XLM): Cheap coin, and massive market to grow

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2019 Will Be a Big Year for Luxcore

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With the recent surge of Bitcoin in the last few weeks, many traders are hoping for a more profitable year than 2018.  Even if that comes to fruition, my advice over the past year remains the same.  Traders must look for companies and projects that offer blockchain solutions with real-world use and complete transparency.  One company that meets both of those requirements is Luxcore (LUX).

What is Luxcore?

Luxcore is a blockchain solutions and services ecosystem that focuses on developing security and privacy products.  The Luxcore platform utilizes the PHI2 algorithm powered blockchain to build a wide variety of product offerings.  One of the platform’s primary goals is to help close the gap between regular consumers and enterprise users by introducing specific use-cases for each group of users.

Exciting Roadmap for 2019

As mentioned earlier, one of the absolute requirements of building a successful blockchain project is to be fully and completely transparent.  Luxcore certainly meets that requirement with the introduction of their most recent roadmap.

The roadmap does a great job of showing which projects are in development, how far along each project is, and the expected completion date of each project.  With this, LUX traders and potentially interested consumers can follow along and monitor the status of projects that they are especially interested in.

Since many crypto projects have inevitably disappointed the market, offering…

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Can XRP Break Out of the Falling Wedge?

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XRP is the third largest cryptocurrency by market cap, which currently sits at around $13.5 billion. The coin also has a price of $0.325316 at the time of writing, after seeing a significant price correction of 4% in the last 24 hours.

Just like many other cryptocurrencies, XRP has seen massive losses during the 2018 bear market. However, this falling wedge seems to have seen a real breakout in 2019, as the crypto winter started to let go, and a lot of coins saw significant price recoveries.

XRP’s falling wedge was much more difficult to stop, which can be seen on its long-term chart. But, the recent bull runs allowed numerous cryptocurrencies to finally see growth, and XRP is definitely one of them. The charts also show that the coin’s falling wedge has seen a breakout, which is an excellent thing for the future of XRP’s price.

However, for the coin’s price to truly turn and stay bullish, XRP needs to see larger volumes. The experts believe that this is the key for a new rally, one which would allow XRP to reach true recovery.

XRP price performance and predictions

As mentioned, XRP had struggled to start growing even when most other cryptocurrencies were drawn in a number of bull runs. While the coin has been acting the same as others until mid-February, it is clear that the…

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