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How Ripple’s xRapid Might Help XRP Token Get Favorable SEC Security Ruling



Will xRapid Adoption Help XRP Get A Favorable SEC Ruling

The adoption of xRapid by companies like Viamericas seems to be favoring XRP at the end of SEC.

Just as promise, Ripple (XRP) at the SWELL 2018 event, which featured magnificent tech giants from the across the world, unveiled the launch of its most promising tool xRapid for commercial use, and immediately, three top companies which includes Cuallix, Mercury FX and Catalyst Corporate Federal Credit Union adopted it for use.

Added to that, Ripple later announced that Viamericas has joined the league of the companies which will be using xRapid to slash their liquidity costs in sending real-time payments.

“Global payment providers, such as Viamericas, Cuallix, IDT, MercuryFX and others are using xRapid to significantly lower their liquidity costs and send real-time payments, an industry first,” Ripple stated.

Why Viamericas Adoption of xRapid Is Crucial for XRP

It was recently uncovered on twitter that XRP’s SEC ruling may get a boost in favor.

While Paul S. Dwyer, the Chairman of Viamericas, is also the head of service at of the US Money Service Business Association (MSBA), which has huge working relationship with US regulatory bodies like the US Security and Exchange Commission (SEC), Ripple’s XRP has been tipped of better treatment from the regulators end.

This would likely be a major boost for XRP as MSBA mission statement states that its objective is to grant quality innovation and development inroads in the payment industry, as well as “promoting the education and communication with Federal and State Regulators”.

Thus, a major leapfrog for the US-based technology startup, Ripple, as its aim is to use XRP for cross-border remittance services.

“The MSBA helps lead the efforts to ensure that customers get fair, safe and compliant service, and that the industry constantly seeks to team with regulators, banks, law enforcement and consumer advocates to ensure that threats to the efficiency, integrity and reputation of the industry–from unlicensed operators to unjustified adverse direct and indirect regulation–receive the full attention they deserve,” Paul Dwyer in an announcement noted.

Can XRP leverage on Paul Dwyer’s status?

Viamericas adoption of xRapid which uses XRP for transaction would be a mover and shaker for the Cryptocurrency as the corporation holds presence in over 34 countries and about 3 continents with 76,000+ cash out point centers around the world.

It is well known to the world that SEC is yet to declare its regulatory stand on XRP, and if this would later have a negative legal and regulatory implications, Viamericas as a big corporation, and Dwyer who is well familiar with the system, wouldn’t have adopted it for use.

Michael Didiuk an erstwhile worker of the SEC, before now declared XRP is not a security, however, rather as a currency.

“I don’t think XRP is a security, I think XRP is a currency. The reason why is […] Howey test… It’s a 4-factor test – Investment of money in a common enterprise with the expectation of profits based on the efforts of others,” Micheal in an interview stated to back his claim.

In line with that, Viamericas must have done their research to affirm that XRP is a utility and not a security. As a utility, XRP won’t be able to meet with the conditions set by Howey Test.

The Pathway Is Clear For Ripple’s XRP

Although, there is still no comment from the US Regulatory body, but evident of the above, it is gradually becoming clear that XRP has higher chances of being flagged by the regulator as a utility. At the moment, investors are very much curious about the stand of SEC on XRP, and this should be a flashlight.

In the end, investors are likely going to realize that SEC ruling would incline with Ripple’s assertion.

Ripple’s Chief Marketing Strategist, Cory Johnson has commented that their communication with the Head of Government and Regulatory Relations at White House, Sagar Sarbhai is surely a fruitful one. As an addition, APAC & Middle East also added support for Ripple.

Sagar noted that Ripple Labs, Inc. has been having connection with SEC, giving SEC explanations to make them understand XRP better, and that owners of the cryptocurrency cannot obtain any stake from Ripple the company profitability.

Sagar previously stated that Ripple would launch xRapid in months, and the resultant effect was a spike in price of the altcoin. While the tool was truly launched at the evergreen conference, SWELL 2018, Sagar stands as an important figure in driving XRP.

Source: Bitcoin Exchange Guide News Team


The XRP Price did not hit $9 Despite Dubious Press Release Claiming Otherwise



There are always some odd developments in the cryptocurrency industry. Earlier today, a press release surfaced on Yahoo Finance. They claimed XRP was trading at over $9.35 on the Index. That is quite interesting, considering the actual market value is a lot lower. 

Don’t get Your XRP Price Hopes up

There is a very big difference between actual values and project values as part of a financial index. In the case of the index, the value of XRP will make little to no sense. Not only did Ripple’s asset note a 97% increase in value, but it also hit a level which the real market might not see for quite some time to come. This will undoubtedly confuse speculators, traders, and investors alike. 

To be more specific, the index claims XRP hit $9.5560 at one point. Compared to the real market value, that is a near 4,000% increase overnight. Interestingly enough, the press release only mentions a 97% increase. A lot of things do not add up here, thus it is pertinent to take this information with a few scoops of salt. 

Wild Price Swings Galore

Users who frequent Yahoo Finance may have noticed an interesting XRP price trend. It fluctuated from $0.26774 all the way to $9.36579 in a 24-hour period. This seems to indicate there was some fat-finger trading or a bug on the platform which made prices spike for no apparent reason. They also claim XRP’s market cap went as high as $79.53bn, which will not happen anytime soon. none of this market momentum is visible on the index itself, however. 

Across all other markets, these XRP price spikes do not exist. It is a bit unclear how the Index is calculated in that regard. None of the tracked cryptocurrency exchanges report such a steep price change in a while. As such, no one missed out if they are holding Ripple’s asset at this time. These gains simply do not exist except as part of one investment index. 

Why Spread Misinformation?

It is a bit unclear why information like this is even made public. There isn’t much point in trying to claim markets are moving in a direction which isn’t there. It is not the first time this Index reported an incorrect XRP price either. That in itself shows that something must be done to prevent such issues in the future. 

Simply because something appears on a prominent website such as Yahoo Finance doesn’t necessarily make it true. While this is clearly a misconstrued XRP price report on the website, it could lead some people to believe RIpple’s asset will spike massively in the coming hours or days. So far, that seems very unlikely, as the asset has remained range-bound for quite some time now. 

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DBS Acknowledges Ripple as the Cheapest Network for Cross-Nation Payments



DBS, the leading bank’s stand for Ripple as the cheapest and fasted transnational payment system was tweeted by community @BankXRP.

South-East Asia’s leading bank, DBS, referred to Ripple network as the cheapest way to send money across borders. One of the biggest Ripple communities on Twitter, @BankXRP, tweeted about the DBS acknowledgment on 21st Aug on its official handle.

 Treasury Prism is the online treasury and cash management simulation platform of DBS. The official website of Treasury prism mentions Ripple as the cheapest route for cross-border payments. As per its Treasury Concepts, Ripple also stands as the cheaper option out of SWIFT and ACH. 

In the same document, DBS mentions Ripple as the right disruption for the fintech to aid low-cost cross-border payments. Currently, Swift registers 6% error rates in transnational transfers. 

The fintech is looking forward to a faster and cheaper mechanism and Ripple seems to fit in perfectly. Ripple is evidently taking over the legacy systems in place. In another recent development, Ripple has partnered with MoneyGram. According to the community Tweet,

Ripple’s Senior Vice president of Business and Corporate development has joined MoneyGram’s board of directors. Kahina Van Dyke, Ripple’s SVP will be acting as an observer in MoneyGram. The news has come out post the Ripple MoneyGram partnership.

MoneyGram recently introduced xRapid technology in its international payment processing system.

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Xendpay to Ride the Money Transfer Advantages of RippleNet



Xendpay to expand its services to more countries by using the RippleNet. The company would be using the existing infrastructure of RippleNet.

To expand and support transnational money transfers, Xendpay joins Ripple’s global network. In an official announcement by Ripple, the Xendpay users will be able to transfer money in currencies along with USD too.
According to the press release, Xendpay will have excess to the existing infrastructure of RippleNet. It would include the support of financial institutions like banks and money transfer facilitation partners.

The Xendpay users could not transfer any other form of currency apart from USD in transnational transactions. To make the payments in any other currency, the platform has to create a new business case. Such a set up with local banks added complexities of international money transfers and added to the cost of the transfer. As per Xendpay’s head of product innovation, Bhavin Vaghela, integration with RippleNet will allow faster and efficient transfers. Bhavin also added that with RippleNet XendPay will be able to penetrate the market faster with its built-in trust factor.

Ripple’s Network has grown across 40 countries and has over 200 consumers. With such a vast payment network Ripple has become very cost-effective for smaller currencies.

Bhavin stated that the traditional channels took them 3-4 days to transfer Thai Bhat. But with the use of RippleNet almost 90% of the Bhat payments are getting processed within 10 minutes. With the RippleNet integration, XendPay opens up newer payment processing services to Bangladesh, Malaysia, Philippines, Vietnam, and Indonesia. The same will support real-time payment rails to Thailand. Xendpay is already a popular transnational payment service provider across the globe. It has lots of clients in the U.K., Europe, Canada, South Africa and India where the number of migrants is increasing.

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