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Why Ripple's XRP is getting ahead in the crypto wars - Global Coin Report
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Why Ripple’s XRP is getting ahead in the crypto wars

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Let’s face it. Bitcoin is having a really bad time. Ripple’s XRP has been holding grounds nicely, but yeah, it joined the red party earlier this week; still, that would be safe to say it’s stayed ahead in the crypto wars as a whole.

Last December 17th Bitcoin went through the roof surpassing the 17k mark, but then the bears came home. Ever since then, the whole market has been going down dramatically (by more than 75% in total market capitalization), and Bitcoin has led the way down.

And that was nothing. On 14th of this month, there was a bearish run that is still going on, and it’s been nothing short of apocalyptic. As we write this article, Bitcoin is trading at $4,306 (down by 4.13% in the last 24 hours).

As things stand right now, everybody is losing. But some are losing a lot, and a handful of coins are holding their ground remarkably well. The one that’s been doing best under the recent conditions is XRP.

Let’s briefly review XRP’s recent performance. Most coins have been losing value for eleven months, even before last week’s debacle. Very few currencies were trading in the green before then. One was Ripple’s XRP.

Don’t get us wrong. Even XRP is losing right now, but it’s been trading in single red numbers while every other token in the market has been in double red numbers or worse. The point is this: given the context, XRP is doing very well, much better than Bitcoin. Why?

There are several reasons.

XRP is backed up by a series of strategic partnerships secured by Ripple, the private company that still owns most of the tokens. This is possible because that same company is working hard to create a full blockchain ecosystem centered about XRP and its many different use cases.

It is important to understand clearly: XRP has a full formal organization working on it, with talented and well-prepared people who actually get paid to do that. Communities support most other projects with varying degrees of commitment and enthusiasm.

Ripple, as a project, and XRP, as a coin came to life with a distinct purpose, and they’re pursuing it. Many cryptocurrencies are created experimentally or as a hobby by talented people that are fully capable of doing so.

Making it useful and guaranteeing adoption in the real world is an entirely different game. And that’s where Ripple’s leadership makes a huge difference. It’s pragmatic, talented, it knows its stuff, and it’s working hard so that everybody’s ships in the Ripple community sail in the same direction.

This is a time in which it is essential not to confuse losses with failure. Remember, Amazon reported losses for several years in a row before it became the money-making machine that’s made Jeff Bezos one of the world’s wealthiest men. XRP is succeeding, and that’s prompted a series of passionate (if probably irrational)  attacks from other projects.

The notorious Craig Wright (who’s claimed to be none other than Satoshi Nakamoto) has been going out of his way lately to attack XRP and to tell everybody (without trying to persuade or offer any proof, very much like his claim about being Satoshi) that XRP is a security and that it’s going to go down like a lead balloon. Is this because he can’t say Bitcoin is faster or losing less value or to have any real advantage over XRP in any practical way?

A big problem for Bitcoin is anarchism. It lacks any cogent leadership which has prompted a series of forks into other projects that use basically the same technology tweaked to achieve a particular effect. The problem is, those “new” coins are replicating Bitcoin to a great extent, so they’re diluting the original token’s value. And now, there is a hashing war between Bitcoin and one of its forks (Bitcoin Cash) which is not only taking value away from BTC but also draining computation power away.

In recent times, XRP has outperformed every other product in the market, Bitcoin included. It already left Ethereum behind concerning market and stands at number two spot for some time now. BTC’s market cap is still much more significant than XRP’s but if things keep going this way, do not be surprised if XRP ends up winning the crypto wars in years to come.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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 Pixabay.

Bitcoin

Why Bitcoin (BTC) Revival is Likely to Continue

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Bitcoin (BTC) revival
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The cryptocurrency market has been doing rather well in 2019 — certainly much better than in 2018. More than a year ago, the market crashed from its all-time high, and in the months that followed, it lost over 80% of its market cap. Bitcoin (BTC), as the leading digital currency, also dropped from $20,000 per coin to barely $3,200 in 2018.

These days, however, the situation seems to be turning, with digital currencies seeing significant growth in prices ever since mid-February. While January stopped the drops, February is the month when the market once again started seeing gains, and this kind of behavior has continued to this day. But, what does this mean for the future? Is this a passing trend, or is the crypto winter truly over?

The revival of Bitcoin

Questions such as the short-term future of Bitcoin are on many traders’ and investors’ minds right now and have been ever since the prices started growing again. A well-known Futures Now trader, Jim Iuorio, recently stated that Bitcoin would start seeing massive profits if it surpasses the price of $4,045. That was, of course, before the coin surged by around $1000 in the last week.

However, Iuorio’s prediction was that BTC is unlikely to go below $3,820, while the growth beyond $4,045 would mean massive gains for those involved with the industry. Soon after this prediction…

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Bitcoin

How to Become a Millionaire without Risking Everything with Bitcoin

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Bitcoin
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It’s been well over a year since the crypto market reached its peak and then crashed, dropping to such lows that most of the coins lost anywhere between 80% and 95% of their value. A few of them lost even more. Of course, this was not enough to eradicate the crypto market, and the bulls are still as optimistic as ever, especially these days, when Bitcoin price surges again, taking the rest of the market with it.

Some predictions claim that Bitcoin will reach its own glory days within a year or two, and there are even speculations that the largest cryptocurrency might spike up to $100,000 per coin. One claim from last week even sees BTC hitting $400,000, as the highest price which someone was brave enough to predict.

While it is certainly possible — at this point, pretty much anything is — not everyone is willing to take such a gamble and invest their hard-earned money into a risky asset such as digital currencies. With that in mind, here are three alternatives that are considerably safer than Bitcoin and the altcoins.

1. Investing and re-investing in stocks

A lot of people — especially younger generations — find stocks to be incredibly boring. Most of the time, all you do is invest, and use the returns for re-investing in high-yielding shares. However, while boring will not…

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Bitcoin

The Best Time to Buy Bitcoin (BTC) Approaches

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Ever since 2019 started, the bear market of 2018 has been losing momentum, with the bulls emerging numerous times in short intervals. This was the beginning of a crypto recovery, which still has quite a long way to go.

However, last week, Bitcoin saw massive growth in transactions, reaching a 14-month high. These were the levels that were previously seen back in 2017, as BTC approached its highest point in terms of price. The growth also reflected strongly on BTC price, which spiked yesterday from around $4.100 to the current $4,672.

Meanwhile, Bitcoin market cap followed as well, currently sitting above $82.3 billion, while the trading volume exceeded $14.5 billion.

What caused the growth?

While this is an exceptional growth, and potentially a start of the bull run that everyone was waiting for, it did not come without a cause. One of the reasons why BTC surged was last week’s Weiss Ratings report of multiple different cryptocurrencies. The report’s authors even stated themselves that the best time to invest might be very near at this point.

Weiss Ratings has done reports about specific coins in the past as well, and this time, they noticed a significant improvement in coins’ performance. The report mentions growth in user transaction volume, network capacity, as well as network security, which the authors took as an improvement coming from the evolution of the…

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