It has been a rough week for the cryptocurrency universe. Market cap-leading Bitcoin has traded at $7,345, while the entire digital assets’ market capitalization has declined significantly to $260 billion. Just a few days past, it equaled $300 billion. Meanwhile, Ripple is maintaining a stable $.438 price. It has dropped by only 0.78%. Compare this to Bitcoin’s value drop of over 4.4% in just the past 24 hours.
Comparative XRP stability in such periods of steep and volatile declines is a tremendous support and reason to own Ripple. Per Ripple’s own 2018 Q2 report, XRP was less volatile than competing altcoins as Bitcoin declined.
Ripple scored a big endorsement recently. SBI is going to launch derivatives on XRP. There is a theory for why the cryptocurrency suddenly rose by six percent in an hour. The theory is that major banks might be testing out the Ripple system for greater use and adoption. The Ripple derivatives should be launched on investor SBI’s own VCTRADE cryptocurrency exchange. Consequently, it is a strong second reason to hold XRP these days.
One thing looks likely. XRP should continue its trend of greater stability in the digital coin universe. This is true even with three pending court actions filed versus Ripple Labs, Inc., and also constant SEC scrutinizing ongoing.
The Coming Altcoin Apocalypse
More cryptocurrency analysts are grudgingly admitting that a great number of current digital assets’ projects will not make it long-term. Too many of them have simply ridden the coattails of Bitcoin this far. They have no important developments of their own about which to boast. With others, they are not focused on finding solutions to problems that require powerful blockchain technology.
Other altcoins have simply lost their mojo, enthusiastic following, and even any real direction. This is why pursuing those digital currencies that possess true usefulness and significant technology underlying them makes imminent sense. Two other altcoin examples of these are DigiByte (DGB) and Ether (ETH).
Sadly, it is easy to imagine a scenario where many or most of the altcoins disappeared completely. In an “altcoin apocalypse,” investors would likely turn to more stable and liquid cryptocurrencies like BTC, XRP, DGB, and also ETH. It only makes sense that they would do this in a true crypto-crisis.
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