Japanese internet giant GMO, operator of crypto exchange GMO Coin, released the results of a recent web questionnaire from January 30 to February 20 targeting 10,964 users. According to the survey, roughly 50% of respondents named XRP as the cryptocurrency most likely to rise in price in 2019.
About 70% of respondents believe in the future of cryptocurrencies at large.
Other Key Findings
- Over 70% are holding cryptocurrencies as long-term investments.
- Roughly 90% began trading after 2017, following Bitcoin’s record high and significant media attention.
- Roughly 20% began trading in 2019.
Respondents identified high returns as a main reason for trading cryptocurrencies, while market volatility, exchange security, cryptocurrency itself and reliability were sources of anxiety.
According to a study released by the Japanese Financial Services Agency (FSA) in 2018, there are 3.5 million Japanese crypto traders. The report compiled data from about 17 domestic crypto exchanges and showed that Bitcoin, Ethereum, XRP, Bitcoin Cash and Litecoin are the most popular cryptocurrencies in Japan. In 2018, Japan was capturing 40 to 60% of global trades with the Japanese yen dominating the crypto markets.
In January, the Japanese yen (JPY) eclipsed the US dollar in worldwide Bitcoin trading, according to data from Coinhills – 49.1% versus 45.8%. Currently the US dollar drives the most Bitcoin trading, surpassing the Japanese yen – 44.01% to 42.69%, at time of writing.
You can check out the full survey here.
XRP Price Drops Below $0.25, Reaching Its Lowest Level in Months
XRP bears are about to have a field day after the token plunged below the critical $0.25 support .
XRP, the native token of crpytocurrency juggernaut Ripple, has dropped below the critical level of $0.25. Notably, this comes right after the SWELL event that was supposed to embolden the bulls and send XRP to its new yearly highs.
At the time of writing, the third biggest coin is changing hands at $0.248, its lowest point since September, CoinStats data shows.
After losing the $0.25 support, XRP is now in serious danger of dropping to as low as $0.15.
Despite this sluggish price action, the XRP community seems to be convinced that the token is still going to see some light in the near future.
The #XRPAmry, which is extremely active on Twitter, believes that the current price is only a distraction from what is going on behind the scenes.
Their main argument is that XRP is currently severely undervalued after its precipitous drop from its all-time high of $3.84 that was reached back in January 2018. Ripple CEO Brad Garlinghouse doesn’t pay attention to short-term price moves, claiming that only coins with real-life use cases will survive.
As reported by U.Today, Ripple’s On-Demand Liquidity (ODL) solution continues to make strides with numerous big-name partnerships. The XRP/MXN liquidity index has recently reached a new all-time on Bitso, surpassing the 6 mln mark.
On the other side of the debate, there are XRP bears who stubbornly continue to insist that the third biggest cryptocurrency might eventually go to zero. Trading veteran Peter Brandt, who infamously predicted that XRP could plunge to just $0.02.
Apart from the increasing selling pressure, there is a huge cloud of legal uncertainty hovering above XRP.
Ripple Community Tweets Bullish XRP Forecasts, Voicing Price Surging Scenarios
The community of XRP investors is voicing bullish price forecasts while some wish the coin would stay under $0.3 longer –
The Ripple community is one of the most loyal ones in the crypto world, which constantly posts news about Ripple and XRP in the social media and watches the price of XRP hoping it would recover the ATH of January 2018.
Below are some bullish forecasts from the community and some other tweets that show how much true XRP lovers value their ‘crypto idol’.
Going bullish on XRP
Ever since the XRP price spiked to get near $3 in January 2018, the Ripple community has longed for it to surge even higher.
Some analysts believe XRP is going to catch a bullish trend very soon due to FOMO (the fear of missing out).
Recently, the XRP liquidity on the Mexican exchange Bitso, which works directly with Ripple and its partner MoneyGram, soared to reach another all-time-high. The community has taken this as a bullish sign too.
‘Impatient overnight wanna-be millionaires’
It seems that the XRP community has not only those wishing to get a Lambo when crypto spikes but merely people who truly care for the industry. One of those enthusiasts has tweeted that he prefers to see XRP below $0.3 for another year just to get rid of all those ‘impatient overnight wanna-be millionaires’ .
Women are being active regarding XRP too. A member of the XRP community suggests they should change their lives on a large scale, adopt a different attitude to men and get more XRP.
Oxford Joins Ripple’s UBRI As Kyoto University Fires Up XRP Validator
An entrepreneurship center at the University of Oxford says it’s joining Ripple’s University Blockchain Research Initiative (UBRI).
On its LinkedIn page, the Oxford Foundry announced its plans to join the initiative.
“The Oxford Foundry has announced its plans to tackle the growing technology skills gap in the UK with a new partnership with leading blockchain technology provider Ripple and its University Blockchain Research Initiative (UBRI).
Through the Foundry’s new Tech Series, up to 1,000 University of Oxford students from across all Oxford colleges and divisions will be given the opportunity to gain new skills in blockchain, AI and machine learning across different industries. Students will also be given the opportunity to learn how to code in Python and build smart contracts.”
The Foundry was created by the University of Oxford’s Saïd Business School to give students a way to “co-create, collaborate and build solutions to global challenges.”
It includes a startup accelerator that offers pre-selected startups a place to build their projects and collaborate.
Ripple formed the UBRI in June of 2018 to collaborate with top universities around the globe to accelerate academic research, technical development and innovation in blockchain, cryptocurrency and digital payments.
Kyoto University, which joined the initiative this summer, launched an XRP validator last week that will help the network verify and process transactions on the ledger.