The price of Ripple (XRP) is in the news lately, as it is currently leading a widespread altcoin comeback.
Everything began when the XRP/USD trading pair jumped more than 16% yesterday and rose from $0.29 to $0.32. The upside gave up to a 37% increase since the pair established its bottom at $0.24.
The current market cap of Ripple is now just moving closer to $13 billion. However, the main price indicator for the positive movement is the latest announcement by Ripple Labs – with plans to strengthen the xRapid banking solution.
Ripple Labs confirmed that they are looking towards three “preferred” exchanges for them – Bittrex (USA), Bitso (Mexico) and Coin.Ph (Philippines) based on their high XRP holdings. Once the XRP funds move, the recipient will be able to convert the crypto to fiat on any (chosen) exchange.
According to analysts, this announcement made a lot of high investors to put their money in Ripple, which triggered a 16% rally for the day. Right now, Ripple (XRP) is targeting $0.35 as its potential upside target – while its shoulder level is right now the $0.30 margin.
Technically, the XRP/USD is oversold and will likely see some bearish corrections in the near-term. However, if we see the positive movements of other altcoins as well as Bitcoin, Ripple rising to new highs in the short run is not a possibility we should check out of the list.
Where Does Bitcoin Cash (BCH) Stand The Day After The Fork?
“Even if the SV mining collation do catch up with ABC or if they manage to do hostile chain re-orgs, its highly unlikely BCash ABC users & investors will ever switch to follow SV. ABC users just need to be patient & wait it out. @CalvinAyre & the SV miners will eventually give up,” BitMEX wrote on Twitter, doubling down on Jonathan Bier’s pre-fork prediction that miners would ultimately abandon the BSV fork.Currently, people are wondering how does the BCH hard fork affect other projects such as Bitcoin. The good news here is that the fork has no effect on BTC other than making it even less likely that Bitcoin Cash (BCH) will overtake Bitcoin (BTC) and claim its mantle.
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‘Time May Be Right’ For Home Crypto Mining: Coinbase CTO
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine.”This is a notable perspective mostly because Srinivasan previously founded 21.co which was a startup that emerged from stealth in 2015 and had an ambitious plan to embed Bitcoin miners in everyday devices- which was then backed by Coinbase Ventures. Following the Coinmine announcement, Srinivasan wrote:
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine."As we can see from the above stated, the CTO of Coinbase seems optimistic about Coinmine's ability to add even more coins later, foreseeing a future where the company could play a key role in the launch of new tokens.
“I believe that decentralized mining is an important idea and worth trying again. It’s mining as Satoshi intended: many devices around the world with no single point of failure." Srinivasan concluded.
Crypto Exchange OKCoin Expands To Latin America, Launching A Fiat Market
"We’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence,” Buyn said following the official announcement.He also pointed that the Latin American market is extremely important for the exchange as it is for many crypto and blockchain industries.
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