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

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Ripple XRP
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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

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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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