Ripple’s XRP is moving very fast with its developments making significant progress. At this stage XRP is in full control over making partnerships with different banks around the world, and so far they have been pretty successful. One such partnership has been with Banco Santander. The XRP partnership with coil to set a platform for content creators have seen an increase in the sign-ups on YouTube and Twitch after the beta release. All the developments for XRP are very healthy for long-term.
Ripple-Banco Santander Progress
A successful partnership with Santander bank is keeping on to move with more improvements to come. The Spanish bank is ready to expand Ripple’s XRP powered OnePay FX network to the different countries of Europe. The Santander bank is also looking forward to adopt Ripple ledger for its entire payment settlements.
Earlier in the Ripple Swell event, Ed Metzger said that they consider the financial services are moving to an open network world, where corporations can cooperate to address top customer service for the users. He added that, that is what they are doing with OnePay FX.
The Rumors of Ripple-SWIFT partnership
The expectation goes high that XRP might attend the upcoming SWIFT Sibos 2018 conference in Sydney which is being held between 22nd Oct to 25th Oct. A lot of rumors have to going around that SWIFT may partner Ripple’s xRapid. But, the ex-SWIFT and current Ripple employee, Marjan Delatinne, who knows the mechanism of both SWIFT and Ripple-XRP inside out says that Ripple and SWIFT are “doing different things”.
Through the SWIFT system transactions across the globe happens, a system created before the invention of Internet. This system is slow, costly and prone to error, whereas Ripple is totally different and a new generation invention based on blockchain technology.
By using blockchain technology and Ripple-XRP’s digital asset, banks can make transactions in a time of minutes. Ripple isn’t like the SWIFT technology which promises to pay and exchange money, but it actually can exchange money in a matter of minutes.
In opinion to Mrs. Delatinne, the market will choose the best option, but we can see both SWIFT and Ripple’s XRP together on one platform, as their aim is one but technology is different.
Brust of Sign-Ups on YouTube & Twitch
A platform provided by Ripple-XRP to the content creators which lets them to monetize their content and earn XRP on Twitch, YouTube and across the web. Coil after releasing their beta version last month have seen an increase in the sign-ups on all these platforms. Without any sort of invitation, more than 500 websites and channels have signed-up on YouTube and web.
This web monetization is a great platform for those you have the ability to showcase their content on Internet. The content creator’s sign-up and are rewarded with XRP tokens for their content. This is just the beginning and there will be more websites and Channels on YouTube that will be signing-up in future. This will help Ripple increase their user base and led to an increase in the volume of XRP. This increase in sign-ups is a sign that this project will go far, increasing more adoption of XRP.
Source: Crypto Globalist
Ripple (XRP) add 21.7 Percent, Resistance at 40-43 cents Zone
- Ripple (XRP) ranging but the uptrend is firm
- XRP classification will either trigger a rally or a large-scale dump
Like most liquid assets, Ripple (XRP) is consolidating, trading inside May 14th and 15th high low in a bullish breakout pattern. All the same, bulls are in pole position. As fundamentals and candlestick arrangement diverge, it is only a matter of time before prices breach 50 cents as buyers aim at 60 cents.
Ripple Price Analysis
At 39 cents, Ripple (XRP) market dominance is 6.75 percent, trailing Bitcoin and Ethereum with a market cap of $16,661 million at the time of press. Ripple (XRP) bulls have ground to cove. However, it all depends on how XRP, a medium of exchange facilitator, is viewed by regulators and most importantly, the success of xRapid.
If anything, it may take years or even decades before RippleNet clip a majority of market share from SWIFT. All the same, regulators may thaw thanks to Coinbase pro decision to open up XRP trading to New York state residents. The state is stringent.
Because of compliance demanding NY DFS, the move somehow confirm Ripple (XRP) is indeed a utility with no central point of control. All the same that will take much convincing from critics who insist that XRP is centralized security and a Ripple Inc Airdrop.
At spot rates, Ripple (XRP) is up 21.7 percent from last week’s close. However, prices are stable in the previous 24 hours. Despite low volatility, the path of least resistance is up, and aggressive traders have a chance to ramp up on dips with first targets in line with our last XRP/USD trade plan.
From candlestick arrangement, there is an opportunity to add to longs after the correction of May 15th to 16th over-extension. However, the best approach for conservative traders is to trade the confirmation of May 14th upswing.
It will print out after prices rally, closing above May 16th highs ideally at the back of high transaction volumes. After that, our ideal target will be 60 cents. Conversely, any drop below 34 cents invalidates our trade plan as XRP bears will fall back to the 4 cents range of the last five months.
To reiterate our previous positions, any close above 40 cents and May 16th ought to be at the back of high transaction volume exceeding 187 million recorded on May 14th.
Ripple struggles to hold above $0.4, waits for the next catalyst
- The correction from 2019 highs finds support near $0.35.
- Ripple remains directionless in the near-term.
Following last week’s impressive rally that lifted Ripple to its highest level of 2019 near $0.47, the XRP/USD pair staged a 3-day-long correction and slumped to $0.36 area before going into a consolidation stage this week. After closing the previous day modestly lower, the pair’s trading range narrowed on Tuesday as it failed to preserve its momentum above the $0.40 handle. As of writing, the pair was virtually unchanged on a daily basis at $0.3990.
Investors seem to be staying on the sidelines while trying to figure out whether the latest upsurge witnessed in major cryptocurrencies is a sign pointing at the beginning of a protracted uptrend.
Meanwhile, Ripple’s total market capitalization, which rose to $20 billion last week, remains steady near $16 billion according to the latest available data on coinmarketcap.com, confirming the subdued market action.
The 38.2% Fibonacci retracement of the uptrend that kicked off on May 10 and came to an end 6 days later forms a critical resistance at $0.4. Above that level, $0.4350 (Fibonacci 23.6%) and $0.4785 (daily high/2019 high) are located as the next hurdles. On the other hand, $0.3650 (Fibonacci 61.8%/May 17, May 18 low) could be seen as the first support ahead of $0.3390 (50-DMA).
Banks Reportedly Love Ripple’s XRP And The Demand Could Trigger Prices Of $0.80
Ripple and XRP are in the spotlight again. XRP-related price predictions have been intensifying these days, and XRP is expected to hit $1.
We recently reported, that according to Investinblockchain, there’s a possibility of XRP hitting $1 before the year 2020 starts.
They write that for XRP to surge like that and hit the $1 target, “the cryptocurrency will need to increase by a whopping 134% from today’s price. The last time Ripple was at $1.00 was during February 2018, over 15 months ago.”
The online publication continues and presents charts and highlights some areas of resistance that are on the way up to $1.
Now, during an interview with Recode Decode podcast, Brad Garlinghouse has addressed once more the will of the company to work with regulators and not against them.
Speaking of regulation, it has been reported that there’s another argument claiming that XRP is not a security.
The Japanese investor in crypto Seth Lim aka XRP Whale also brought arguments to support his claim.
Ripple’s solutions have reportedly been designed in such a way to meet the demands of banks and financial institutions, notes NewsBTC.
This is a goal that Garlinghouse has been working hard to achieve.
There are definitely some regulatory challenges to be overcome, and most of them are revolving around the subject we mentioned above – whether XRP is a security or not.
As you already know, the XRP army of fans says that the digital asset is a utility token and not a security.
Banks reportedly love what Ripple is doing
In an interview with Recode Decode podcast with Kara Swisher, Brad Garlinghouse expressed his deep desire of working with regulators and banks.
“I don’t think banks […] governments will go away. Banks are applying an essential regulatory framework that I actually think is important for society. I believe that banks will continue to serve that role; they’re good at it […] I think this is a new set of technologies that they can benefit from to grow their business,” he said.
He continued, and stated that “99% of banks love what we’re doing because we’re democratizing something that’s controlled by a small number of banks, their competitors.”
XRP’s price is expected to mirror the coin and the company’s achievements and NewsBTC says that XRP could be on its way to $0.80.