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“Ripple attorneys will have their hands full explaining the statements of Ripple executives,” claims Larry Cermak

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  • “Ripple attorneys will have their hands full explaining the statements of Ripple executives,” claims Larry Cermak

Larry Cermak, economy/law analyst and author at theblockcrypto.com, launched an interesting Twitter thread today regarding Ripple, XRP, and the currency’s status as a security.

He first went and determined what actually constitutes a security. The question “Has the promoter raised an amount of funds in excess of what may be needed to establish a functional network?” is one that needs to be answered to determine if the token is a security, according to SEC member Hinman.

Citing this as the burning question hanging above XRP’s head, Cermak dove deep into the statements of Ripple’s top dogs and discovered some worrying trends.

Besides acknowledging that Ripple management said multiple times how XRP Ledger is already functional and decentralized, he noted that Ripple Labs still remains in possession of 55 billion XRP which they intend to sell to generate further revenue. Chris Larsen and David Schwartz gave the “best” quotes describing Ripple’s intention to use their stash of XRP to profit in the future, citing Schwartz and his “After all, the reason we’re doing this is to increase demand for XRP to increase the value we can extract from our stash of XRP” as the most damning piece of evidence that XRP is in fact a security. Cermak concluded his Twitter thread with the following:

“As demonstrated by their own comments, Ripple is clearly incentivized to increase the value of XRP and therefore XRP holders’ investments. The long controversy will likely be decided in federal court down the line. In any case, Ripple’s attorneys will have their hands full in explaining the historical and recent statements of Ripple executives with respect to XRP and Ripple’s relationship to the cryptocurrency.”

You can read the full thread, along with an article that goes deeper into the quotes and issues mentioned,

  • HTC Exodus phone starts shipping

HTC recently announced they’ll be moving into the cryptocurrency waters with their new mobile phone, HTC Exodus (marked as HTC Exodus 1). This blockchain-powered phone lets its owners trade cryptocurrencies, pay for various services with crypto and run dApps on it.

The phone was envisioned and designed by Phil Chen, HTC’s “Decentralized Chief Officer,” a developer who previously worked on the HTC Vive VR headset. This first generation of Exodus immediately impresses with its features:

  • Display: 6-inch IPS LCD display, 1440×3120 resolution
  • Durability: IP68 dustproof and waterproof
  • Chipset: Qualcomm Snapdragon 845
  • OS: Android 8.1
  • Storage and Memory: 6GB RAM, 128GB internal storage (non-expandable)
  • Battery: 3500 mAh battery, USB type-C charging, support for fast charging
  • Camera: 16-MP and 12-MP main camera, dual 8-MP selfie camera
  • Connectivity: 4G LTE, Bluetooth 5.0, Wi-Fi 802.11 a/b/g/n/ac, dual-band, WiFi Direct, hotspot

One of the flagship applications that’ll be pre-installed on the phone is called the Zion wallet. This wallet has a security system detached from the Android software (also called the “TrustZone Secure Enclave”) and lets its owners utilize the so-called Social Key Recovery function in case something happens to their phone. Every Exodus device will serve as a node, and every user will own their identity and their data pushing for a more decentralized system.

Zion will support Bitcoin and Ethereum, as well as Litecoin and several popular ERC-20 tokens on its launch day. Interestingly enough, Exodus can only be purchased using cryptocurrency.

Exodus 1 can currently be purchased for the price of 0.15 BTC/4.78 ETH/19.84 LTC (amounts to just above 500 USD). This device will target developed markets as Chen and HTC plan to release a more affordable phone for underbanked people from poorer countries of the world.

  • Binance lists Republic Protocol (REN)

Popular Chinese/Maltese exchange Binance has added Republic Protocol to its trading platform.

 

Trading for REN/BTC and REN/BNB pairs has been enabled on 6/12/2018, 10:00 AM (UTC). As a part of the listing process, Republic Protocol donated 28,000 BNB to Binance’s Blockchain Charity Foundation.

Republic Protocol operates as an open-source decentralized dark pool exchange. This means that individuals can trade in any size of volume without having details of their transactions revealed. The project looks to focus on larger orders, thus being more suitable to institutional investors.

It facilitates cross-chain atomic trades on a hidden order book over the Ethereum and Bitcoin networks. Miners within the protocol run equation solving nodes to earn REN tokens and match orders without revealing the underlying trade until execution.

As such, the Republic Protocol system is capable of executing large block orders for ERC20, Ethereum and Bitcoin pairs; the orders are executed with minimal price slippage and maximum protection from front-running.

“Republic Protocol delivers mathematically-proven security and privacy until execution to dark pools, providing a system for investors and traders to exchange significant amounts of cryptographic assets,” Binance explains.

  • Factom to be used by a Chinese online video performance verification company

Factom has been one of the hottest cryptocurrencies on the market lately, managing to appreciate from $4 to $16 in the past month or so. This 300% growth has surprised many but some investors knew that this currency has a couple of aces up its sleeve.

With Melinda and Bill Gates Foundation and Draper Associates supporting it, Factom’s latest rise isn’t exactly that surprising. Their latest partnership from China will likely contribute to added growth in the future.

The Board of AIM-traded FastForward Innovations Limited Company announced that its investee company Yooya will be adopting the Factom Harmony platform as their blockchain solution delivered through Wancloud, Factom’s Chinese re-seller.

Yooya is a Chinese company that manages business-to-business online video networks; it manages and tracks video content on over 45 Chinese online video distribution platforms, including Alibaba’s Youku, Baidu’s iQiyi, and Tencent Video.

Yoouya will use the Harmony platform to deliver both public and private blockchain-based online video content experiences to its customers.

Interestingly enough, FastForward owns a stake in both of these companies as they have a 2.06% equity interest in Factom and a 15% one in Yooya.

Source: captainaltcoin

Ripple

Ripple (XRP/USD) forecast and analysis on September 15, 2019

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Cryptocurrency Ripple (XRP/USD) is trading at 0.2549. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Ripple. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.

Ripple (XRP/USD) forecast and analysis on September 15, 2019

As part of the Ripple course forecast, a test level of 0.2570 is expected. Where should we expect an attempt to continue the fall of XRP/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 0.2450. The conservative sales area for Ripple is located near the upper border of the Bollinger Bands indicator strip at 0.2580.

Ripple (XRP/USD) forecast and analysis on September 15, 2019

Cancellation of the option to continue the depreciation of the Ripple will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing quotations of the pair above the area of ​​0.2630. This will indicate a change in the current trend in favor of the bullish for XRP/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Ripple (XRP/USD) forecast and analysis on September 15, 2019 implies a test level of 0.2570. Further, it is expected to continue falling to the area below the level of 0.2450. The conservative area for selling Ripple is located area of 0.2580. Canceling the option of falling cryptocurrency will be a breakdown of the level of 0.2630. In this case, we should expect continued growth.

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We don’t want investors to buy XRP and dump on the market

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We don’t want investors to buy XRP and dump on the market

We had a pleasant surprise on Julia Chatterley’s Twitter account today. The CNN anchorwoman published an exciting interview with Brad Garlinghouse, Ripple’s CEO, and a cryptosphere personality. In this article, we give you the gist of Mr. Garlinghouse’s intervention.

The session started talking about speculation. Mr. Garlinghouse recognized that people will always try to use any asset they can to speculate and profit when possible. Gold, oil, Bitcoin, or Ripple’s XRP it makes no difference.

Somebody will try to ride the market waves to make a buck. It’s the nature of the beast. However, in Ripple’s leader’s words, the long term value of any asset, especially when it comes to cryptocurrencies will be all about use cases and utility, not mere speculation.

When asked about Facebook’s Libra (which is the elephant in every crypto room these days) Mr. Garlinghouse said that there’s not much to tell about it for the time being. It remains an unreleased project, a white paper and nothing more, at least currently. Assessing how Libra can affect the cryptosphere is premature right now, and we’ll have to see how things go when the controversial Facebook blockchain project goes live.

Following the same line, the CEO advised potential cryptonauts to do their homework. To make sure they understand what is real in crypto and what’s not (or not yet). Does a given project have actual use cases? Does it solve a problem with its cryptocurrency or their network? Libra is a case in point because everybody is talking about it and, however, it doesn’t exist yet, and it has no apparent use cases.

Bitcoin vs. Ripple (XRP)

When asked to compare BTC to XRP, Mr. Garlinghouse said that BTC remains the leading cryptocurrency in the world and that’s very good to store value. As a payments system, however, it takes too long to process transactions, and every single one is rather expensive at approximately USD 1,00. XRP, on the other hand, is an ideal tool for settling payments because transactions are settled in about three seconds and the cost if of 1/1000 of a penny.

When asked about XRP ownership, Ripple’s man explained that the San Francisco company is indeed the most significant owner so far. The next question was about price manipulation. The answer to that was quite straightforward. Ripple is the 3rd largest cryptocurrency by market capitalization, and its daily trading volumes are in the billions. Those large volumes ensure that no single player can manipulate the market and affect the prices unnaturally.

Then Mrs. Chatterley asked about Libra again. Mr. Garlinghouse explained that it’s been a good thing so far because it’s brought a lot of new attention into the crypto world.

But he also added that trust, transparency, and reliability must be core values in the blockchain industry so the public debate about Libra, or any other digital asset, are welcome and should be embraced. He added that Facebook hasn’t made much of an effort to get on the regulator’s good books and that it could complicate things for the company as the new cryptocurrency goes live (when and if that happens).

It was an exciting interview that any cryptonaut should see because it’s very down to earth, informative, and it’s information right from the horse’s mouth, as Ripple CEO Mr. Garlinghouse is one of the world’s most prominent blockchain executives.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.


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XRP Liquidity Index surpasses all-time high at Bitso as Ripple coin crosses BTC in MXN volume

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Bitso has been a key player at helping with XRPL decentralization and implementing XRP products.

Yesterday, the founder of Bitso, a Ripple’s xRapid powered crypto exchange based in Mexico, confirmed that XRP liquidity index had surpassed all-time highs.

A prominent XRP community member on Twitter, Xrpcenter first shared this news and later on Bitso founder, Daniel Vogel confirmed that xRapid is flowing nicely through Bitso, and has surpassed the maximum level of liquidity of all time. Bitso has been a critical player at helping with XRPL decentralization and implementing XRP products.

xRapid

Ripple’s xRapid is one of the most prominent products of the blockchain firm that uses XRP as a core for making transactions. So far, xRapid has made a massive impact, and its utility is growing swiftly. Previously officials from Ripple have confirmed that more than 20 financial institutions are using xRapid. With Bitso being one of them, xRapid is positioning very well in the market. As its adoption is increasing day by day, it will have a significant impact on both Ripple and XRP.

The most friendly and promoted exchange for Ripple (XRP)

Bitso has been primarily supported, and the XRP community has responded very well. Bitso allows trading XRP at a low fee and quick transfer alternative for moving funds. XRP surpassed BTC as the most traded fiat pair on the xRapid-enabled Bitso exchange. However, as we write this, BTC/MXN have again jumped back to the 1st spot as XRP/MXN trading volume has just fallen behind BTC/MXN.

As the crypto industry continues to develop and grow, Ripple keeps stamping its authority and is attracting more investors with every day that passes. Ripple is working hard to solve real-world solutions to outdated systems, and that shows itself by seeing how much they are working with regulators and banks.

Ripple’s product is being used at various institutions, and the banking world has already admired it. Crypto analysts believe that the growth of xRapid will give a significant push to XRP in coming time.

Crypto industry is still new, and patience is needed in this game. This is once in a lifetime opportunity for the investors. Remember many didn’t believe in Bitcoin at first and made the mistake of not buying BTC when it first showed up. So, investors need to be aware of this aspect and do not make that same mistake again. Taking Ripple’s tech and team into consideration, Holding XRP is the option to go with.

Bitcoin overall is still dominant, but things are steadily changing, and Ripple’s XRP seems to be going in the right direction. Although it’s only one corridor, it starts somewhere; previously surpassing ETH in the market has shown that XRP has the potential to get bigger.

Yes, BTC is still by far the leader in terms of liquidity and widespread adoption, but the XRP community needs to believe in their ‘choice’ and stay patient. At least that what we think as things stand.

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