Ripple

The cryptocurrency community is now happier than two or three months ago when Bitcoin was trading at around $3,934. For the past one week the Bitcoin price has managed to remain trading above the $8,000 price mark. And since this week started, the BTC price has never plummeted below the $9000 support level.

The world’s third largest cryptocurrency by market cap, Ripple (XRP), is on the move after an unsuspected attack by anonymous hackers. Early this month, around $9.2 million worth of Ripple (23 mln of XRP) was illegally fetched from GateHub, a digital currency wallet service provider. It looks like the hackers are now in the process of moving the stolen Ripple and cashing out at any available opportunity.

Visa and Western Union have concluded a new agreement that will bring the fintech, digital currency and blockchain industry to the mainstream. However, one of Top-3 coins, Ripple, could potentially suffer from this.

The advantages of blockchain and distributed ledger technology in small and medium enterprises (SMEs) are known and clear, but some are more popular than others. Bitcoin, Ethereum, Ripple are good examples of use cases. Bitcoin is being used by a multitude of SMEs as one of the means of payment.

The Trade War between the United States of America (USA) and China could cause another rally for Bitcoin, Ether, Ripple and other popular cryptocurrencies. The economic war could ultimately spread into the USA bond market, with China liquidating US Treasuries. Gold seem to be flat compared to Bitcoin. Investors affected by the trade war have decided to seek refuge in blockchain and digital currencies.

The cryptocurrency market continues to show bullish price rally as almost all the top 100 digital currencies remain trading in the green, at press time, according to the coinmarketcap (CMC) data. Bitcoin (BTC/USD) is currently trading above $8,700 and shows a possibility of hitting and surpassing the $9000 price level, should we assume that the next bull is on the market’s door knocking.

There is no doubt that blockchain and distributed ledger tech (DLT) is a disruptive technology which has introduced a series of use cases and applications from centralized to decentralized methods. Before 2008, people were not used of decentralized digital currencies such as Bitcoin (BTC), Ether (ETH), Ripple (XRP), but now people use, know or hear of them. Some major blockchain systems have been used in conducting different activities, but the proof of formulation seems to take over the existing dapps market.

The volatile nature of Bitcoin and other cryptocurrencies sees them fluctuate according to market conditions. In this very week, the world’s leading cryptoasset traded above $8,320, but to our surprise, the digital asset is now falling to hit the $7,000 level.

California-based e-commerce platform eBay is expected to pave the way for the creation of a favorable cryptocurrency environment. Their new ad hints that the giant might be preparing to accept digital currencies such as Bitcoin, Ethereum, Ripple, etc. on its website.