So recently there has a lot of good news about XRP but price has not moved any. I think the reason is because people have speculated XRP’s price as high as they are willing to speculate without the actual utilization of XRP. If you look at xrpcharts, the ledger payment volume has remained about the same since xRapid’s launch. This means that xRapid is not really seeing any additional use right now, despite all the partnerships. In the case of actual x-rapid use, we would see the total XRP trade volume increase as well as ledger payment volume increase and it would be a sustained increase, not $1 billion one day and back to $100 million the next day. When you click on the ledger payment volume, you would also see more exchanges, rather than 95% blue XRP, which I think means wallet to wallet transactions and not via an exchange. Until I see consistent volumes over $300 million per day on the payment ledger, I cannot say that there is significant X-rapid use.
Bitcoin $500 price gain explanation
Bitcoin suddenly rose $500 early in the morning today to over $7000 at some exchanges from $6200 and now has settled at around $6600. Some may see it as a sign of the coming bull run but this is not the case. The increase in Bitcoin price has entirely to do with people losing faith in Tether after the fall of Noble Bank of Puerto Rico. People lost faith in Tether and were selling out of Tether into Bitcoin. The subsequent drop in price after the Bull Run to $6600 probably represents people then selling out of BTC into USD. Although I do think there will be a bull run with Fidelity launching its crypto products and Bakkt launching next month as well as University endowment money flowing into the cryptocurrency space, this was most likely not the signal.
Cardano Leadership Split may spell trouble for price
IOHK and Emurgo looks like they are splitting off from the Cardano foundation and are trying to persuade its chairman to resign. The split came about because IOHK, Charles Hoskinson, and Emurgo has said that Cardano is not keeping its end of the deal in their parntership. Further concerns regarding the centralization of the Cardano Foundation and the dwindling numbers on its board deepen the split. Since Hoskinson cannot force the Chairman of the Cardano Foundation to step down, he is appealing to the Cardano community to convince Parsons to resign. This should not be that hard to convince the Cardano community since the community was the one to come out and say that the Cardano Foundation has not executed on its core responsibilities and duties. Even though the split may only be a small distraction to Cardano developers, it is sure to inspire uneasiness within the community and investors and may cause the price to fall.
Dogecoin preparing a coinbase submission, why price moon afterwards?
Dogecoin is preparing a Coinbase submission to be listed according to core team developer Ross Nicoll. This would be a big deal as Coinbase is seen as one of the most prestigious exchanges out there with full SEC approval and compliance. Since Dogecoin does not have a big company behind it like XRP, Cardano, and others, it may make the listing a little difficult as DOGE is truly a community based coin. There are certain checkboxes that Coinbase likes that DOGE will find it hard to check off and you cannot just write “WOW, SO MUCH LISTING” for any answer that you do not have. I believe this will have an effect on price immediately after listing, perhaps pushing it past the 1 cent mark again, even in this bear market. However, the effect will not be as big as the effects last year on such coins as Litecoin and Ethereum because there are more bigger exchanges out there this year and DOGECOIN is already histed at HitBTC, Bittrex, Poloniex and others and has healthy trading volume even without Coinbase. However, Coinbase will put it in the eyes of institutional investors which may trigger community excitement and further upside for Dogecoin.
TRON to activate TVM, host developers conference, TRX price analysis and predictions
TRON(TRX)has been on a roll lately and is slated to activate its TVM today(October 8th, 2018). TRON’s price has had a significant bump upwards over the weekend and many would expect with the launch of the TVM and the news that they will hold a developer’s conference in January, that the price would go up even further. However, looking at past reactions to news, this is not always the case. Look at XRP for instance. The price shot up when rumors of the X-rapid launch came through but after the actual launch of X-rapid with three customers, the price actually went down. This is a classic case of “Buy the rumors, sell the news”, which, logically is stupid but humans don’t always act in rational ways. I think we may see the same thing with TRON as people may have bought on the anticipation of the TVM launch but are now selling because news has come out and they think prices have peaked. The same thing happened with TRON’s mainnet launch. So while TRON’s mid and long term forecast may be bullish, I’d be very cautious about buying TRON at this high price right now.
* I am not a professional financial adviser and this is not professional financial advice, I am not responsible for your gains or losses.
XRP, reasonable price for end of year(2018)
Even though $598 as an end of the year target for XRP has been thrown around a lot, I don’t think having a marketcap of $20 trillion or more by the end of 2018 is realistic for XRP. I think based on current partnerships and adoption that $3-$5 is a more reasonable estimate based on the fact that I think Bitcoin will reach around $12,000 by then. Right now the price is not moving up because there has not been more time for important partnerships to sink in for people and once these come along and people see that millions are being transacted by XRP each day, I think the Bull Run will begin in earnest. But that takes time and not everyone is using X-rapid. Some are using X-current and that matters because X-current does not have to use XRP but X-rapid does. However, I do believe that people on X-current will eventually use XRP and some will upgrade to X-rapid over time.
One thing that would have me revise my prediction to $10-$15 is if SWIFT integrates XRP on November 30th. There has been rumors and speculation but all the “proof” videos I’ve seen are nothing more than speculation and neither SWIFT or Ripple has mentioned it. It could happen but since nothing is confirmed or has been leaked, I cannot make a prediction based on that right now.
So for now my original prediction of $3-$5 stands but if confirmed I think SWIFT will bring it up to $10-$15 by end of year.
Dogecoin price analysis and why its one of the best coins to hold.
Dogecoin has performed admirably the last month or so but how does it look for the long term? I believe that it will be one of the best performers in Q4 of this year. If you look at the price graph between DOGE and USD, the price right now has gone past its past 2 peaks, almost to its Feb. peak this year. If you look at the BTC/DOGE graph, it has almost reached higher than even in January of this year. This is better than almost all coins in the top 40 Alt. Coins. This combined with the positive sentiment of being listed at Yahoo Finance, about to be listed at Coinbase, and the DOGE-Ethereum Bridge makes me think that DOGECOIN will take off in Q4 of this year. It might have a slight temporary setback but overall, it is poised to hit another all-time high.
Ripplenet integrated into Santander Bank Mobile App, price increase for XRP?
Santander Bank, a $80 billion banking giant, has integrated Ripplenet into its OnePay FX mobile app and will use it to handle cross-border payments. Santander says that it is using Ripplenet because the transactions are much faster and cheaper to process via Ripplenet. This does not mean Ripplenet will automatically handle $80 billion of money from Santander, only a small part of that is sent each day via cross-border payments but it still may represent a significant volume for Ripplenet. This may get other banks to quickly do the same if the money savings are really that great as they may lose out to competition if they don’t. If there is a rush to adopt blockchain into banking than the use of cryptocurrencies will skyrocket which may finally bring it mainstream.
Ethereum to $1900? Bitcoin Bull thinks so
Tom Lee, sometimes known as the “Bitcoin Bull” has turned from Bitcoin to Ethereum for now, predicting a price of $1900 by end of 2019. I won’t say this price is impossible or improbable as Ethereum has reached more than $1300 by the end of the last Bull run but we will look at the pros and cons of Ethereum.
First, if Bitcoin soars past $25,000, it is possible that Ethereum could ride the wave up to $1900 putting its market cap at around $200,000,000,000 , which is well within reason and not the $60 trillion (if you count the number in escrow) that some XRP holders believe that their coin will achieve by the end of the year(2018). However, there are several obstacles in Ethereum’s way, including tough competition that didn’t exist last year. However, there are things that may pump Ethereum up way before Bitcoin hits $25,000 as well.
First, TRON and EOS are major competitors for Etheruem and boast a much more advanced network capable of far more transactions per second than Ethereum. TRON’s CEO Justin Sun has called for developers to ditch Ethereum and jump onto the TRON Bandwagon and TRON has recently soared past 400,000 user accounts. This increased competition may take many users off of Ethereum and onto TRON or EOS. This is probably one of the main reasons that Ethereum has been underperforming most other big cryptos, even in the bear market.
However, Ethereum is the oldest of the Mainnet coins, and therefore has its supporters. Most recently, Banking giant J.P. Morgan has announced that it has built its interbank payments system on an Ethereum-based blockchain and once it comes online, it will process over 14,000 USD transactions per day with its partner banks. Partnerships and adoptions like this are huge for any network and once Ethereum gets sharding and Casper updates(end of 2019 reported), it may be technologically on par with its competitors and have big players like J.P. Morgan in its mix. The big adoption of a company like J.P. Morgan may in itself be enough to push the price up to $1900 during a bull run.
With the factors going for and against Ethereum, the next run will be interesting. Ethereum has tough competition to brush aside but it being a first-mover and established network in the market may be enough to push its price to new heights.
XRP Technical Analysis and Price Forecast(and not its not $589)
Looking at the graph of XRP, it does not make as much sense as other price graphs of cryptocurrencies because of the large increase in price over the last week which breaks the descending pattern of the last 5 months. Unlike many other coins where you could forecast off the peaks and valleys. XRP has basically been on a steady downward decline since April without any real significant peaks or valleys during that time so you cannot plot the lines of high and lows to see if they intersect anywhere. The current upswing in price would make that intersection point actually below the current price. But we know that XRP probably is far more likely to rise by the end of the year than drop so that technical analysis does not really work. Current movements by XRP suggests that it is driven far more by breaking news and reactions to that news that by any kind of technical price graph and since we know that X-rapid will be launched most likely within 30 days, that the SWELL conference is coming up next week, and that at least 7 companies have already signed on to use X-rapid when it launches, it can be said that the chance of another large upward trend is highly likely within the next month or two. Therefore at this point, since its already dipped from 59 cents to 44 cents, XRP looks like a great buy for the short and long term.
* Note I am not a professional financial adviser and this is not professional financial advice. Trade at your own risk as I am not responsible for your gains or losses.