From the look of things, it looks like things are back to horizontal trends not only for Ripple (XRP) but the whole cryptocurrency markets as very little progress has been witnessed over the past 24-hours. As it was this time yesterday, the total market cap is still hovering around the over 210 billion US dollars region, showing little or no signs of bouncing back to previous levels marking a lazy day in the cryptocurrency market.
Following its last Thursday dump of about 300 US dollars, Bitcoin has remained on a flat line fighting not to depreciate any further than that. Earlier this week, the number one ranked cryptocurrency undervalued to exchange at 6,300 US dollars and is now trading slightly above that level.
According to some cryptocurrency analysts, Bitcoin seems to be making a symmetrical triangle formation regarding its price trends, something that could lead to its breakout from the consolidation. In regards to its trade volumes, the number one digital currency has fallen back after the recent upward price surge that has seen trade volumes stabilize at about 4 billion US dollars. In regards to Ethereum, the digital coin is still week but is holding to its impressive 210 US dollar price tag currently, recording no change from yesterday.
Ripple (XRP) Making Headlines with Bullish Movements
Out of the many virtual currencies available in the crypto market, Ripple (XRP) is one of the few digital currencies that has been following up with bullish movement in recent time.
According to some cryptocurrency analysts, one of the reasons behind Ripple’s (XRP)’s impressive performance in the market is the recent positive publicity that RippleNet has been enjoying. RippleNet recently boarded Moneynetint to its long list of partners and users. While XRP as a digital currency does not have anything to do with RippleNet, XRP prices usually perform positively on positive reviews and news touching the Ripple Network.
During the last spike in September, XRP formed a bearish divergence – thanks to its formation of a series of lower lows. This latest price surge is coming close to breaking the series of lower lows that could have essentially changed the entire market structure. On Tuesday, Ripple prices appreciated by over 3 percent maintaining its upward momentum that was seen on Monday.
It has been an irregular past few sessions, as the crypto market continues to search for a stable, committed direction.
As from the last week of September, XRP/USD price action has been forming a bullish flag pattern that was instigated by the price surge that made way for a bull run. During Monday’s session, a breach from that flag was recorded, leaving the door open to a further upward trend.
Technically, following the recent breach from the pattern mentioned above, the current market is susceptible to XRP/USD further buying pressure. All eyes are on the potential of the bullish upper wick that has been expected to be filled from 15th October.
Other Ripple News
Weiss Rating recently engaged the Twitter community in on what they considered as the best cryptocurrency to invest in under the 1 US dollar mark. From the finding that was received, a majority of Twitter users consider Ripple (XRP) as the best digital coin to invest in and posses.
— CoinIdol (@CoinIdol) October 15, 2018
From the over 5,000 Twitter users who participated in the poll, more than 60 percent of them showed their confidence and preference towards the controversial digital asset that currently lacks good publicity in the cryptocurrency ecosystem due to its fundamental philosophy, Ripple (XRP).
Out of the four options that were offered for polling, Cardano (ADA) was the digital coin that managed to give Ripple (XRP) a run for its money, managing to garner about 25 percent of all the votes. The third and fourth placed cryptocurrencies were Stellar Lumens (XLM) and IOTA who managed to get 8 percent and 3 percent respectively in the Weiss rating poll.
At the time of writing, Ripple (XRP) is currently exchanging at around 0.46 US dollars and in the green.
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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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The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry
Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation.
There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated.
A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified.
Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders.
Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:
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Can Libra help the crypto industry to reach new heights?
The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.
From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.
What is Libra?
Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.
Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.
The development of…
Why Blockchain Projects Keep Failing
If you’ve been keeping up with news coming out of the blockchain community over the past year, you’ve probably heard countless projects hyped as the next best thing—only for them to fall off completely off the map a few months later. While some of these projects offered no practical solutions and seemed destined to fail, others creatively used blockchain technology to enhance the way we perform day-to-day tasks.
So, What’s the Problem?
For starters, many of these founders have no real experience running a business or managing finances. Instead, teams are usually comprised of programmers and tech geeks with the ability to develop blockchain-driven apps, but have no clue about project management, allocating resources, effective team building or marketing.
What’s more, when you look at the average blockchain start-up’s website, you’ll probably find a list of team members with accolades a mile long. And many of these “achievements” are in similar blockchain projects that have yet to take off. This makes it hard to distinguish between what is hype and what is credible information, which scares off all but the high-risk investor.
Project Success Starts at the Team Level
The sudden interest in cryptocurrency and blockchain technology can be compared to the California Gold Rush. Everyone wants to get in on the ground floor so that they can make as much money as possible.
Unfortunately, this mentality isn’t just…