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Why Ripple (XRP) can jump 100x in value and become the world currency

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When thinking about investing in Ripple (XRP), the digital coin that runs on the Ripple’s payment blockchain system, traders ought to consider what function Ripple might play over the progression of the next decade. In 2017, when Ripple was a relatively new and emerging (it still is) virtual currency, it managed to grow its value by more than 100x in under one year.

Early 2017, the value of Ripple (XRP) was 0.0064 US dollars per token, while at the end of the same year, Ripple (XRP) was fetching prices around 0.8 US dollars. At the time, many analysts predicted all sought of predictions arguing the price of Ripple might rise to the heights of 9 US dollars in 2018; there is still time for Ripple to clock this target, we should not rule it out as yet.

Most of cryptocurrency experts and analysts believe that Ripple has what it takes not only to reach similar peaks but to also grow further in creating new highs as well. Many still agree that Ripple (XRP) is still an excellent coin to invest.

At the time of writing, Ripple, the third largest virtual currency by market value after Bitcoin and Ethereum, has been growing sturdily in last seven days, poking at 0.48 Us dollar per token. Ripple (XRP) looks like it has broken away from its association with BTC as Bitcoin remains above the 6,600 US dollar rangebound handle.

XRP/BTC is recording a 9.5 percent daily increase and a 3.5 percent increment since the start of Tuesday trading recording gains of over 5 percent. However, from a technical point of view, XRP value has reached a critical resistance, where the likelihood of the emergence of short-term sellers are likely to occur, opening the door to another wave of selling orders. In turn, the upward rise in price might suffer and fail to gather pace from here.

From the long-term viewpoint, the ultimate resistance might come at the 0.560 US dollar mark, which accounts for a 78.6 percent Fibo retracement. The markets need to clear Ripple (XRP) before starting the celebrations for a continuous recovery towards 0.6 US dollars and 0.647 Us dollars, which is believed to be the next Fibo level.

From a short-term viewpoint, considering Ripple is continuously adding new financial institutions as clients and partnering with major institutions, XRP/USD is strongly overbought, meaning there is a high chance of the downside rectification with the final near-term support created by 0.5 US dollars and 0.490 US dollars.

Can Ripple (XRP) become the World Currency?

Ripple continues to prove itself as a virtual currency and a blockchain technology that is worth watching and investing in by facilitating near-instant cross-border transactions across the globe.

Although still near and untested by many in the financial industry on a global level, Ripple has managed to partner with more than 45 central banks in the world allowing them to use their platform in settling debts and making settlements with each other pointing to the fact that Ripple has the potential and might one day become a world currency.

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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.

Image courtesy of Pxhere.com

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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