Ripple Price Forecast: XRP Is the Only Bright Spot in Cryptos

In an amazing twist that would have seemed impossible a few months ago, XRP is now the “cool kid” at the crypto party. What do I mean? Well, XRP is the only crypto in the top 15 to appreciate in the last 24 hours. Bitcoin was down 17%, Ethereum dropped 17.5%, and Bitcoin Cash fell 27%. Even recent …
Ripple
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Ripple News Update

In an amazing twist that would have seemed impossible a few months ago, XRP is now the “cool kid” at the crypto party. What do I mean? Well, XRP is the only crypto in the top 15 to appreciate in the last 24 hours.

Bitcoin was down 17%, Ethereum dropped 17.5%, and Bitcoin Cash fell 27%. Even recent outperformers like Cardano and IOTA suffered double-digit losses.

XRP prices, meanwhile, shot up 15.15% against the U.S. dollar. This put the XRP to USD rate solidly above $1.00.

Ripple Price Chart:

ripple price chart for 22 dec

Meanwhile, the XRP to Bitcoin rate shot up 46.06%, reaching 0.00008518 BTC at the time of writing.

Why is this so strange?

Well, some investors—what I call the “herd money”—treat cryptos as a solid asset class. They paint the whole market with a broad brush, which, in practice, pegs the entire market to Bitcoin’s success or failure.

Put another way, XRP usually falls when Bitcoin falls. That connection now appears to be broken.

Normally, if Bitcoin does well, herd money floods into all the big cryptos.

If things start going south—as they did with the BTC-BCH hard fork or many of Bitcoin’s scaling issues—then herd money disappears back into the world of fiat currencies.

Don’t misunderstand me; seasoned investors understand the differences between various cryptos. But there are many more investors that don’t have a clue what is going on.

They hear about a trend, so they hop onto it.

That is why as the crypto market cap exploded in recent months, so did the amount of herd money entering the market. But this trend only goes so far; all floods slow down to a trickle eventually.

Investors quit the market when they can’t find willing buyers. Money flows from speculative assets to ones with real potential. That’s what we’re seeing right now, except…

…XRP is not falling like the rest.

Investors are respecting its nuanced differences with Bitcoin, which shows that XRP has achieved a new level of mainstream awareness. This is an excellent milestone in Ripple’s journey to reform the international payments market.

Analyst Take:

Today’s Ripple news update only affirms our bullishness on XRP. We continue to believe that XRP can reach our Ripple price prediction of $2.00 in 2018, though that forecast is looking more conservative by the day.

Also Read: Cryptocurrency Price Predictions 2018: Ripple Is the Clear Winner

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Feline lucky? WikiLeaks gifts tradeable ethereum ‘cats’ to Trump & Clinton

WikiLeaks has presented a surprise early Christmas present to former presidential rivals Donald Trump and Hillary Clinton – a pair of virtual cryptocurrency kitties. The tradeable ‘cats’ are potentially worth thousands of dollars. Built on the ethereum blockchain, a centralized digital ledger which tracks …

Built on the ethereum blockchain, a centralized digital ledger which tracks cryptocurrency transactions, the Cryptokitties game involves trading digital assets. In this case, the assets are “collectable and breedable digital cats.” The application was created earlier this year by Axiom Zen.

WikiLeaks is gifting two #CryptoKitties to President Trump and Secretary Clinton. Under 5 U.S.C. § 7432 Trump’s Tender Tabby will become federal property to be enjoyed by future presidents via custodians at the US National Archives. https://t.co/NvPFQLXGjMpic.twitter.com/B7t6hHP5RJ

— WikiLeaks (@wikileaks) December 22, 2017

In a statement, WikiLeaks signalled their plan to auction off a ‘litter’ of virtual cats bred from its first generation of CryptoKitties, Mr WikiLeaks and Mrs WikiLeaks.

READ MORE: Ethereum beating bitcoin this year with 8,000% surge

Two of these virtual kittens, part of the roaring CryptoKitties market said to be worth $17 million collectively, have been “gifted” to US President Trump and former Secretary of State Clinton.

According to WikiLeaks, the virtual mogs are valued at several thousand dollars, and although the president is unlikely to take up the gift offering, Trump’s so-called ‘Tender Tabby’ will legally become federal property if he does.

Today, #CryptoKitties launches the first blockchain game that uses #Ethereum. The future is meow! https://t.co/haThTHJCgxpic.twitter.com/6SQJhrL7PC

— Axiom Zen (@AxiomZenTeam) November 28, 2017

WikiLeaks editor Julian Assange says proceeds of the kitty auction will “empower” the organization.

READ MORE: Ethereum cryptocurrency record gains this year hit 5,000%

“Cryptography is not only transforming the global financial system, it is generating creative innovation in a vast array of human interaction. WikiLeaks likes cats and wants to help bring cryptocurrencies and smart contracts into the mainstream,” Assange said in a statement.

“Donors and crypto-kitty enthusiasts can empower WikiLeaks by bidding for one of our cute purebred cyptographic kittens. Newcomers will learn about the blockchain, acquire their very first cryptocurrency, and potentially even make a profit.”

Based in Vancouver, Zen say the new game’s goal is to “explore the concept of digital scarcity… and make blockchain technology accessible to everyday consumers.”

An online log of CryptoKitties sales reveals a number of the virtual cats are valued at more than $100,000.

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CryptoKitties Now Tradable with USD, EUR

CryptoKitties, the viral Ethereum video game that lets players collect and breed digital cats, are now trading on the OPSkins virtual gaming assets marketplace. The listing enables users to instantly buy and trade the digital cats using US dollars, euros and dozens of other currencies, as well as WAX …
CryptoKitties OPSkins

CryptoKitties, the viral Ethereum video game that lets players collect and breed digital cats, are now trading on the OPSkins virtual gaming assets marketplace. The listing enables users to instantly buy and trade the digital cats using US dollars, euros and dozens of other currencies, as well as WAX tokens, a utility token developed by the founders of OPSkins.

“Everyone is talking about CryptoKitties, and not just because they are cute,” said William Quigley, CEO of WAX and CEO of OPSkins. “The concept of a virtual collectible item on the blockchain adds a fresh value proposition to the crypto world and we see OPSkins and WAX as a key player in developing what we call the ‘Crypto Collectibles’ space.”

CryptoKitties is a video game built on the Ethereum network. It is similar to Neopets and allows players to adopt, raise and trade digital pets.

The game has skyrocketed in popularity this past month with rare kitties going for well over US$100,000. At some point, CryptoKitties became the largest decentralized application on the Ethereum protocol, accounting for more than 13% of the network’s transactions.

The craze peaked to the point that initial coin offerings (ICOs) could not launch on the Ethereum protocol due to network congestion caused by the sale and trading of digital kittens on CryptoKitties.

“The popularity of virtual cats fits the euphoria we see elsewhere in the cryptocurrency space,” Peter Atwater, who studies market sentiment and heads Financial Insyghts, told CNBC. “It feels very reminiscent of the Candy Crush craze that helped propel the King Entertainment IPO back at the peak of the ‘Unicorn’ era in mid 2014.”

According to Arthur Camara, an Axiom Zen software engineer on the CryptoKitties team in Vancouver, the purpose of the game was to raise awareness about blockchain technology. The team had a six-month plan to make CryptoKitties a hit. Nobody expected it would take just a week.

“We had big goals but we never expected them to come this fast,” Camara told Motherboard. “We’re definitely surprised that CryptoKitties exploded this way, and we didn’t expect to see people re-selling their kitties for thousands of dollars.”

“It was never our [intention to have CryptoKitties selling for US$100,000]. We want CryptoKitties to be selling for a dollar. It’s crazy when we see these numbers, but we wanted to make it approachable and we wanted to create groups that can define what’s important to them and buy the cat with traits desirable to them for an affordable price.”

CryptoKitties players buy and sell unique digital kittens using ether. With two kittens, players can breed their own digital kittens and sell them on the marketplace. The starting price is set by the player and the price goes down until the end of the auction or the kitten is sold.

Although CryptoKitties is not a cryptocurrency, it does offer something similar to one: each CryptoKitty is one-of-a-kind, 100% owned by the user, validated through the blockchain, and the value can appreciate or depreciate based on the market.

The CryptoKitties team intends to release a new CryptoKitty every 15 minutes until November 2018, whose starting price is set by the average of the last five CryptoKittens that were sold plus 50%.

CryptoKitties utilize Ethereum’s new ERC-721 protocol, a non-fungible token standard.

It represents one of the earliest attempts to deploy blockchain technology for recreational and leisurely purposes, and might have signaled a promising use case for Ethereum: digital collectibles. Following the successful launch of the game last month, similar dapps have emerged such as CryptoPuppies and CryptoPets.

How blockchain is going to transform the real estate industry in 2018

The drama of bitcoin has taken the concept of the blockchain mainstream over the past five years. With prices going up and down (and up again), the mystery of its creator, the intrigue of bitcoin’s early Silk Road connections, and now institutional involvement from banks, hedge funds, and even …

The drama of bitcoin has taken the concept of the blockchain mainstream over the past five years. With prices going up and down (and up again), the mystery of its creator, the intrigue of bitcoin’s early Silk Road connections, and now institutional involvement from banks, hedge funds, and even governments, bitcoin has taken quite the journey.

Bitcoin may be the most well-known manifestation of blockchain technology, but there are countless other applications that have nothing to do with “crypto-currency.” Real estate is a prime example, and in 2018, blockchain technology is going to transform the real estate industry in three key ways.

MLS Property Data

The first way is through how information is shared. All real estate transactions go through the Multiple Listing Service (MLS), which is the system used to track who is representing who, contracts, appraisals, listing agreements, etc. The system, however, is highly fragmented and can be difficult to access and parse for people outside of the industry. Access to information is restricted and may not be up-to-date, which can make it difficult to make comparisons and identify patterns. This is where blockchain technology can help.

What the blockchain fundamentally provides is the capacity to share databases and processes. This could enable MLS companies, or even agents, to improve the way property data is shared between agents, as well as consumers. With a shared database, it’s possible to imagine a nationwide MLS database with real-time access to property information directly from the source. Other credible parties could collaborate and build a holistic view of a property — all stored securely on the blockchain.

Title Records

Today, title information is stored on a local level and has not been brought online. It’s a pretty outdated and inefficient system. Blockchain technology could provide a central title database for the entire country to secure, store, and instantly access historical title records.

We’ve already seen a glimpse of this application in Chicago. In Fall 2016, Cook County tested the use of blockchain technology for transferring and tracking property titles, in what Inman referred to as “one of real estate’s most important experiments with blockchain so far.” When someone buys a property, they get a digital token and a paper deed; documentation of the transfer of that token serves as proof of ownership. Down the road, these tokens could replace deeds entirely.

The impact of this shift would be significant. To start, it would streamline the title portion of a housing sale. The title process is notoriously slow because tracking and transferring titles involves a lot of bureaucracy. A central and secure database which stores the records and makes them instantly accessible would speed up the process, saving everyone time and money. A report from Goldman Sachs estimates that blockchain could reduce the average title premium by about 30 percent by driving $2-4 billion in cost savings for title insurers. And, for consumers due to title insurance being so inflated. Furthermore, it has the potential to lower real estate fraud in emerging markets, since the ledgers can’t be tampered with.

Transactions

The third way blockchain technology will transform real estate in 2018 is through identity verification in transactions. Buying and selling real estate has pretty high stakes. Large amounts of money are being exchanged and it’s the largest purchase most people will make in their lives. Making sure a prospective buyer or seller is who they say they are is key, given that real estate fraud costs buyers millions of dollars each year. This is where blockchain technology comes into play.

The blockchain enables consumer financial information to be securely shared with other parties during a transaction. Every user has a unique identity on the blockchain thanks to cryptography. Since the blockchain does not require trust between two parties to do business, one party can send funds to another party, which won’t be released until the transaction is complete. Each side can therefore trust that the other side will uphold their portion of the agreement, or the deal won’t go through. This is particularly useful if both parties are not in the same place. A centralized financial record of each party can speed up transaction management and property financing. Not to mention, it can help reduce wire transfer fraud with title offices.

The real estate ecosystem can involve a lot of middlemen and blockchain technology can help make transactions more efficient by reducing the number of intermediaries, which translates into saved time and money for consumers. The blockchain can help streamline the real estate sales cycle, while also making it more secure and transparent. These are positive steps forward for everyone involved — buyers, sellers, agents, and brokers. Blockchain technology will play a central role in the future of the real estate industry.

Photo Credit: dencg/Shutterstock

Matthew Murphy is the Chief Marketing Officer of Chime Technologies and is responsible for making Chime a household name in the real estate space. Previously, Matthew was the Chief Marketing Officer & Co-Founder of Lemon.com a leading mobile wallet solution that involved the use of blockchain and bitcoin (Acquired by LifeLock), General Manager of Bling Nation, a provider of mobile payment services; and the CMO at Chegg, the leader in textbook rentals. Matthew was also the head of Advertising & Media at E*TRADE Financial and won numerous awards for his work, including a Clio, Effie and Stevie Award.

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7 reasons why you must embrace the cryptocurrency wave

Since cryptocurrency is a virtual currency associated with the internet, it is regulated by cryptography which strives for complete security and anonymity. … Let’s breakdown the reasons for why you must embrace the cryptocurrency trend and how the components of digital money are helpful to you.

Cryptocurrency is a form of digital asset developed to authorise transactions of money online. It emerged after the creation of Bitcoin in 2009. Since cryptocurrency is a virtual currency associated with the internet, it is regulated by cryptography which strives for complete security and anonymity.

Over the years, world has become economically insecure, and hence, cryptocurrency presents a huge investment opportunity, being a remarkably growing industry that has a global appeal to government bodies, large organisations, and prominent players from diverse industries.

There are several cryptocurrencies using the Blockchain Technology to maintain the safety of this platform. Bitcoin and Ether are some of the popular forms of digital currencies which are rapidly gaining ground and trending widely.

Let’s breakdown the reasons for why you must embrace the cryptocurrency trend and how the components of digital money are helpful to you.

  1. The Rising Price of Virtual Currency

A constant uptick in the price of cryptocurrency remains the biggest pull factor for most investors. People are encouraged to follow this trend in anticipation of a possible price hike in the future. Bitcoin has seen a drastic increase in its worth, and is valued a lot more now than when it was first implemented. Other currencies like Ethereum have evolved histrionically since its initiation, and is widely trending.

  1. Security

Cryptocurrency uses the process of “cryptography”, which runs on the mechanism of converting legible information into an uncrackable code. This means that the probability of data being compromised is highly unlikely. Cryptocurrencies are digital in nature, and cannot be forged or reversed arbitrarily by the sender, as with credit card charge-backs.

This security is further ensured by the fact that your coin funds are locked in a public key cryptography system. Cryptocurrency can be sent only by the owner of the public key. A Bitcoin address is secured effectively owing to strong cryptography and the magic of numbers.

  1. Lower Transaction Fees

Cryptocurrency usually incurs zero or low fees in comparison with other forms of transactions. This is because Blockchain miners are compensated by the network. Charges may be affected if there is a third party involved in maintaining their own wallets. It allows an individual to smoothly trade in a wider trading and commercial world.

  1. Decentralization

Blockchain technology is jointly run by a global network of computers that keeps a record of every transaction in a Blockchain. This gives clarity on the transparency of the system in which cryptocurrency operates. Every step in this process is decentralised as it regulates on a peer-to-peer system and is not owned by any government body or institution.

  1. Easy Access and Use

Unlike other trading platforms, cryptocurrency has a simplified process to invest in different coins. Individuals can access this system without any hassle, which enables them to trade conveniently at any time.

To trade in cryptocurrencies, you do not require a special warrant or permission. One can send or receive Bitcoins or other digital currencies without the need for an expensive software, training or licence. There is no gatekeeper, and ultimately, anybody with access to a smartphone, a laptop, or a desktop computer can use it at any time of the day or night.

  1. Universally recognised

Cryptocurrency is not bound by exchange rates, interest rates, transaction charges or any other charges of a country, and this makes it internationally acceptable. It also saves a lot of time that would be otherwise spent in transferring money from one country to the other. It makes the business operations quite easy and affordable.

  1. Portability

Cryptocurrencies are easily and legally portable. While it may be difficult to carry other forms of money in large amounts, virtual currencies can be stored in a memory card and can be move around efficiently.

The use of Blockchain could eliminate the need for banks, or redundant complex procedures, and it is evident that the Blockchain has expanded beyond Bitcoin and cryptocurrencies. The future demand for cryptocurrencies depends upon the ultimate control one has over their money and the speed of secure global transactions, as well as lower transaction fees, as compared with the existing currencies.

(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)

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