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Ripple’s XRP and LTC Leading Altcoin Comeback as Market Turns Green

Ripple’s XRP and LTC Leading Altcoin Comeback as Market Turns Green
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There has been a slow and steady comeback across the cryptocurrency market with Bitcoin just creeping above the $8,000 mark. It is in the altcoin market that there is a real comeback brewing as the likes of Ripple’s XRP and Litecoin are leading the way.

All but one of the top 20 coins are in the green, although most of these gains are small. Bitcoin has built up to $8,000 with just a two percent growth over the last 24 hours. On the other hand, Litecoin is up by over eight percent, and XRP is touching six percent gains.

Breaking resistance

With the last market downturn, XRP slumped below a key marker of $0.40 but the recent growth has pushed the token above this mark, and even beyond the next key resistance point of $0.412. It is now sitting at $0.421 with the next key resistances near $0.422 and $0.425.

Litecoin, which is the leader of the gains in the top 20 altcoins, is trading at $113. The silver to Bitcoin’s gold was the key catalyst to the beginning of the cryptocurrency spring and has made a bit of a reputation for leading the way this year.

Altcoin answers

While the cryptocurrency spring is still in bloom, and Bitcoin has been the primary benefactor of the change in the market sentiment, there is still a lot of energy bubbling under in the altcoin market.

Ripple’s market push to increase the price of its XRP token has been up and down in 2019 with rumours now circling that the company has acquired the well-known money sending company, MoneyGram.

On the other side of things, Ripple have also come out and said they expect their forecast for Q2 to be substantially lower as they are addressing fake volume reporting on the XRP token.

For Litecoin, the year has been a good one as they were the first coin to double in value through 2019. Litecoin is benefiting from the shift in focus for cryptocurrencies, seeing them more as a useful currency as enterprise blockchain and cryptocurrency use grows.

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About the author

Darryn Pollock is an award winning  journalist from Durban, South Africa. He picked up Vodacom’s Regional Sports Journalist Award in 2017 while expanding his Blockchain and cryptocurrency reach.  He is a contributor to Forbes, Cointelegraph, Binary District, and of course, U.Today. Darryn’s belief is that Blockchain technology will be the driving force of the next technological wave and it is the obligation of journalists and writers to tell its emerging story with integrity and pride.

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Libra Was a "Neat Idea" That Will Never Happen: JPMorgan CEO Jamie Dimon

  • Alex Dovbnya
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    Jamie Dimon predicts that Facebook will not be able to launch Libra

Libra Was a "Neat Idea" That Will Never Happen: JPMorgan CEO Jamie Dimon
Cover image via u.today

During an event organized by the Institute of International Financed, JPMorgan Chase CEO Jamie Dimon weighed in on Facebook's Libra cryptocurrency that has ruffled many feathers since its announcement that took place on June 18.

Dimon calls Libra "a neat idea," but he is certain that this launch will never happen. That's all that the big banking boss has to say about the controversial stablecoin. 

He further added that the idea wasn't unique and recalled the bank's own stablecoin.  

Over the past few weeks, multiple private companies have abandoned the Libra Association out of fear of closer regulatory scrutiny. However, neither their exodus nor the outrage of lawmakers around the global stopped Facebook from moving forward with his plans. The company expects to add around 100 members prior to the launch of Libra.

Jamie Dimon is clearly not a fan of cryptocurrencies. Back in September 2017, just three months before the peak of the crypto bubble, Dimon infamously called Bitcoin a fraud, which is "worse than tulip bulbs." His critique was so scathing that the Bitcoin price dropped after his speech. 

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However, the number one US bank made a sudden U-turn and announced the launch of JPM Coin, its very own stablecoin that was perceived as a slap in the face for XRP.

Ripple CEO Brad Garlinghouse later explained why so-called "banking coins" are not the right answer to the global cross-border payment problem. Notably, Garlinghouse slammed Facebook for its "arrogant" approach to the Libra project while predicting that the stablecoin will not be launched by 2022.   
 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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