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XRP News: Ripple takes over Ethereum’s 2nd largest coin spot for a short span

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XRP News
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XRP news puts Ripple at the center of the attention

Recent XRP news has brought every crypto investor around the world to the edge of their seat as the coin suddenly grew so much that it managed to take over Ethereum’s place as the second largest crypto.

Ripple had held the spot only briefly before Ethereum took it back. However, XRP did not surrender so quickly, and the coin actually re-took the second spot again, before being pushed back to the third place for the second time in a timeframe of seven days.

All of this was a result of a sudden surge in Ripple’s price, which has seen the coin rise for more than 100% in a matter of days. Numerous theories appeared in an attempt to explain this behavior. Many now believe that banks and other financial institutions are preparing to adopt Ripple’s technology for making faster cross-border money transactions.

In the meanwhile, Ripple’s XRP (the digital asset of Ripple company) has seemingly settled back in the third spot, although its current market cap is nearing that of Ethereum once again. At the time of writing, the total market cap of XRP stands at $21.3 billion, while Ethereum’s is only one billion larger, currently being at $22.3 billion. Of course, neither of the two is even close to Bitcoin (BTC), which remains the number one coin with a total market cap of $112.7 billion, according to CoinMarketCap.com.

2018 was a tough year for cryptocurrencies

Ethereum has had a nasty year, similarly to every other crypto, due to a constant bearish market. Even so, the coin has suffered additional damage because it was oversold. A lot of speculation claims that this has happened because of numerous altcoins that were created on its own network.

Since January, the coin’s price went down by around 84%, and its current price is only $214.76 per coin. This is a significant change when compared to its January price of $1,400 per coin. Ripple has experienced significant losses as well, dropping from $3.71 to only $0.54, Still, considering that it started at only $0.006 back in 2017, even its current price is a significant improvement.

Still, it would seem that these recent events did not completely drain all the strength out of Ripple since the coin had surged once again only hours ago. This time, the surge was sparked by Coinbase’s recent announcement that it plans to consider additional cryptos for its list of offered coins.

Can Ripple hit $1 by the end of the year?

Soon after the announcement, the different XRP news started spreading and claiming that Ripple might be among the next group of coins that Coinbase will consider. While there is no guarantee that this is true, even the possibility of it was seemingly enough to spark a new wave of excitement.

The excitement was also increased further by the recent price prediction given by deVere Group’s CEO and founder, Nigel Green. Green stated that he believes that Ripple will still reach $1 before 2018 ends, and $2 by the end of 2019.

Ripple has done significant things to secure its future as a coin that will be used for mainstream payments, and this also includes the development of its xRapid product. In fact, many are speculating that the product is nearing its completion and that it might see an official launch in the following days.

It is also worth noting that Ripple is among the oldest coins today, that was created as far back as in 2012. This alone sets it apart from most of the market, as it belongs to a much older generation of cryptocurrencies.

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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.

Photo by Ralph Blvmberg on Unsplash

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

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Aluna.Social
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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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collateralized debt position
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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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