Yesterday it was LTC, today it's XRP
That's Ripple for any of you non traders out there.
The other day we saw LTC soar to massive numbers as investors flocked to different investments as bitcoin's rally slowed.
Likely to diversify themselves a bit with their massive bitcoin gains.
That rally briefly put LTC as number 4 on the largest crypto market cap list.
Today, we saw that trend continue.
Check out the chart of XRP (Ripple):
With this rally, XRP has now leapfrogged LTC and moved into 4th place on the largest market cap list for cryptocurrencies.
Currently it sports a market cap just over $18 billion.
Why is this happening?
A couple reasons are likely.
As was mentioned above, people are probably diversifying some of their bitcoin gains over the last several months into some of the other coins.
LTC was the first major one, but we also are seeing a rotation into Ether as well, and now XRP.
Ripple uses blockchain technology to develop a payments network for banks, digital asset exchanges and other financial institutions. XRP is the digital coin network participants use for transactions.
Hopefully at some point Steem joins the party and becomes part of this rotation!
Stay informed my friends.
Image Sources:
https://kejnav.deviantart.com/art/CRYPTO-HOST-Wallpaper-295242648
Follow me: @jrcornel
XRP is going to end BAD. This is a bankster's tool. Almost no decentralization.
I bet on LTC and ETH, among few others. The future will show soon who was right.
That's right, because the whole crypto-space is based on logic. 🙄
I have 13 XRP, can't go much wrong with that. Just don't put too many cash in coins that are risky.
agreed .. I do trade only in XRP not holding for large quantity for long .. EOS IOTA ETH BTC &&& my love bird cardano (ADA)
I thought about buying this coin last week be cause i thought it would go up, but I dont like what it represents so i didnt!!!
I guess we must always invested in at-least the top 10 coins, as we never know which day belongs to which coin.
I was telling a friend who is interested in wntering the market to diversify among altcoins.
Seems like the smartest overall strategy
Diversifying is always a best strategy.
Diversifying is the best strategy for investing for sure. But we should diversify also with other things than cryptocurencies, they could eventually burst together !
yes .. but what about those who only hold BTC from year 2014 =D
True. Everybody rushes to one coin randomly. Exciting and stressful at the same time.
I think we must invest some small percent in alt coins and hold #hodl the bitcoins.
Wild rides indeed!!!
I think it would be awesome for Steemit to join this rotation.
I invested in Litecoin and did great, but because I am so new to it I had no idea that I needed the XRP to be able to do transactions.
Thanks for this informative post @jrcornel
Yes
Hi, the easiest way is to create an account on www.gatehub.net and send there first 20 XRP. Without starting amount will the wallet locked.
You can trade there also.
A ripple for steem would be awesome - still trying to process the current price surge, Do you think this will be maintained for a few weeks or is a drop more likely?
Indeed, a jump to 4 or 5 is inevitable. At least reaching close to old highs by the next month seems feasible
Hell yes ripple, rip on through to the moon!
I'm sure Steem with have it day.
very nice post. i bought in into ripple some days ago and it was so slow had to reset my price so i can sell off when it gained a little but later it mooned! crypto is quite a funny space but interesting.
next big thing is Elyte. new, excellent team and loving community plus discounted white list
check it out
www.elyte.io
join the telegram and be amazed.
regards
what is tomorrow ? what is the next coin that will go to the moon ?
LTC again
why ltc, usually coins go up and down, why you believe that ltc will keep going up ?
The price is litecoin is very undervalued, it will go up eventually.
Fees to send Litecoin is very less which makes it useful for day-to-day transactions.
Faster speed,
Atomic swap,
are other reasons
While BTC will be used as asset (There will be less transactions of BTC, will not be used for daily transactions).
LTC will be used for daily transactions.
I too see LTC only seriously going up in value once exchanges offer more LTC pairs for trading instead of just LTC vs fiat or Tether. So people either invest to hodl LTC or are then forced to convert into BTC as one has to have BTC in order to trade most of the other altcoins. With all the recent surge of interest & new investors coming into the markets, the number of BTC transactions rocketed. With LTC's faster transaction times, other things like arbitrage will also be more feasible... OTOH BTC too will have faster transactions once Lightning comes online, so that won't be a USP for LTC anymore.