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XRP Tron Price: Back to the Lows?

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The reality is that it’s not too comforting right now being an XRP or Tron price bull. While we saw the two cryptocurrencies bounce off the lows, it just doesn’t feel like we are in the clear yet. As we watch Ethereum weaken, one gets the sense that we are going down to test the lows again.

Chart courtesy of tradingview.com

XRP Price

Yesterday, almost $2.3 billion worth of Ripple exchanging hands between wallets yesterday. This is about 13% of the total XRP coins in circulation. Obviously, this size of a move has spooked the markets and we are seeing XRP sell-off on the back of this news.

Chart courtesy of tradingview.com

We believe that the biggest overhang on the XRP price has been concerns over centralization and the control by Ripple Labs and its founders. When Ripple peaked around $3.85, Ripple founder Chris Larsen saw his net worth surpass that of Facebook founder Mark Zuckerberg. This concern has been exacerbated by the fact that Coinbase has not added XRP to its coin offerings. Lastly, the Morgan Creek crypto fund did not add XRP due to concerns on their level of centralization.

While the crypto community is currently focused on the negatives affecting XRP (For those that argue this fact, guys were are in a bear market. XRP has been going down and down. The market is focused on the negatives and not the positives. Don’t shoot the messenger.), there are some positives. For one, the cost to move $2.3 billion XRP was less than a cent, which beats any transaction involving Bitcoin or fiat. Second, Ripple is continuing towards innovation and those that have a long-term view, will be well-rewarded. Each pullback should be viewed as an opportunity to accumulate a position and HODL.

Tron price

Tron has made a nice move up off the lows as a lot of positives have been happening for Tron. I know many in the Tron community are despondent over the price, but from Justin Sun’s Twitter feed, a lot is happening behind the scenes. First up, Tron just burned 670,045,551.1449388 ERC20 TRX tokens. This is roughly $16.75 million, which is no small number. Second, Justin Sun just announced the launch of Tron’s Virtual machine via his Twitter handle, saying:

Regarding the Tron price, the market looks weak again. While the market rallied off the lows, there wasn’t the moon or Lambo type moves like we witnessed earlier this year back in April and May. This move was more like a dead cat bounce. With the market weakening again, smart players should pick their spots for accumulation.

Chart courtesy of tradingview.com

Bottom line

With so many alts have raised money in ETH, a weak Ethereum price REKTs havoc on the entire altcoin market. This includes XRP and Tron. As crypto players get out of ETH and alts, they buy Bitcoin, which further depresses the altcoin market. At this point, the only course of action is to HODL. Unfortunately, it doesn’t look like this bear market is over and we will have to continue weathering the storm. As always, we will be updating our readers daily here at Global Coin Report with the latest updates and market changes.

Happy Trading~

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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. This author is long Bitcoin and Ethereum.

Image courtesy of Pexels

Charts courtesy of tradingview.com

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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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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Altcoins

Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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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…

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Altcoins

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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