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XRP Price Drops Below $0.3 Despite Retaining its Bitcoin Value

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It is safe to say there are a lot of concerns regarding the future price of cryptocurrencies and digital assets alike. Although XRP is usually considered a stable asset in this department, the reality can be somewhat different. More specifically, its value has plummeted alongside Bitcoin, even though the XRP/BTC value doesn’t budge all that much. This is a very odd trend, although it seems unlikely the XRP price will remain above $0.3 for much longer.

XRP Price Trend Grows Very Bearish

Throughout most of 2018, XRP has been a very successful digital asset. Although it too suffers from the breakdown of both Bitcoin and Ethereum, things seemed to be on the mend first and foremost.  After all, XRP has maintained its BTC value for most of the year, whereas all other assets and currencies have struggled significantly in this department. Even so, it seems that trend is no longer sufficient to keep the XRP price stable.

In the past 24 hours, there has been an 11.5% decline for the XRP price in USD value. This is despite not losing any ground in the BTC department. Unfortunately for XRP, the current bearish pressure on Bitcoin makes it impossible to sustain US Dollar gains. This will usually result in further price drops accordingly. In the case of XRP, its value dropped from $0.36 to $0.3 in the past week. That may not be the new bottom by any means either.

On social media, it seems there are a lot of discussions pertaining to XRP. As Guruprasad happily points out, a lot of top currencies and assets came a long way from their all-time high in December 2017. XRP Is one of the bigger victims, as it retraced by 82% and is still falling. It is not unlikely a further 5-10% price dip will occur in the coming three to four weeks. That is not something to look forward to, but bucking the overall market trend is pretty difficult right now.

Magic ArKaiN has an interesting technical analysis for XRP. Although the evening star formation is not something one comes across that often, it is an interesting development regardless. This pattern confirmed the XRP price would drop to $0.3 and may even result in the value dropping to $0.2 in fairly quick succession. Even a dip to $0.2 wouldn’t necessarily be too problematic for XRP, as it will remain ahead of Ethereum in terms of market cap.

Evening Star in formation for #XRP on the weekly chart – if it gets confirmed, we go back to $0.20 that’s for sure

Kin Dotcom paints an interesting picture most cryptocurrency and digital asset speculators need to keep in mind at all times. This is not the biggest dip the markets have seen to date. For XRP, the most recent dip hit $0.24 and the market bounced back strongly pretty quickly. As such, there is no reason to think history will not repeat itself, although one has to wonder if the remainder of 2018 will yield any positive trends first and foremost.

Why is everyone so scared? #XRP went below $0.24 in April and we all survived

As is usually the case when bearish momentum presents itself, things will undoubtedly get very interesting in the coming weeks. That doesn’t necessarily mean the situation will improve by any means, but it is still interesting to watch all of these markets evolve and deal with this ongoing price struggle. For XRP, its success in terms of xRapid and RippleNet will be beneficial in the long run and have an impact on the XRP price accordingly.

source nullt

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XRP Price Stable Against Coinmotion Criticism

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On Feb 15, the XRP is moving up slightly, trading at $0.3089.

Over a few weeks, the crypto has been forming a triangle, still without testing either the resistance or the support. The MACD is however moving up, which makes the resistance breakout at 0.3047 more likely; this may then push the price to 0.3230. The overall trend is descending, though, so once the resistance at 0.3047 gets broken out, the price may also be sent to the support at 0.2899 and then break it out, heading towards the midterm support at 0.2804, and the target at $0.2470.

xrp price analysis

Coinmotion, a crypto exchange based on Finland, added the XRP to its portfolio. At the same time, the exchange published an article called XRP Is a Centralized Digital Currency, saying that the altcoin is not really a crypto.

The article author, Pessi Peura, says the investing process shows that Ripple is more like a security than a crypto. Besides, the token is developed by a single company, which is risky: in case Ripple Labs loses its reputation in any way, the XRP will have big problems.

Finally, Peura says Ripple Labs is controlling its tokens, which is totally against the decentralized network principles. This is actually the most curious thing, as Ripple Labs says its token is autonomous, and no monopoly is possible.

Ripple has not commented on the article yet, but is likely to comment soon, as the company is usually quick at reacting at any criticism in the media. Most likely, Ripple Labs will say the usual thing regarding XRP having nothing to do with securities.

Disclaimer

Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Source:nulltx

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Bank-based Cryptocurrencies Not Realistic: Ripple CEO

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ipple Chief Executive Officer (CEO) Brad Garlinghouse recently said that bank-based cryptocurrencies are not realistic and he believes they are “deeply misguided” for the entire industry.

These remarks come in the wake of the news reports that announced that the international bank, JP Morgan was all set to announce its own coin, JPM token. As earlier reported by Crypto-News India, the trials for the cryptocurrency, named as “JPM Coin” will begin in a few months and is designed for instant settlement of payments between clients. With the launch of its new cryptocurrency, the bank is preparing for the future to settle the transactions at lightning speed similar to that of Bitcoin rather than relying on old technology like wire transfers.

At the time, Umar Farooq, J.P. Morgan’s Head of Blockchain projects had said, “So anything that currently exists in the world, as that moves onto the blockchain, this would be the payment leg for that transaction. The applications are frankly quite endless; anything, where you have a distributed ledger which involves corporations or institutions, can use this.”

This is not the first time Garlinghouse expressed doubts about bank-based cryptocurrencies. In 2016, he had reportedly said, “A bank-issued digital asset can only really efficiently settle between the banks who issued it. Then, two scenarios can play out.”

Detailing those scenarios, the Ripple CEO had stated, “Scenario one: all banks around the world put aside competitive and geopolitical differences, adopt the same digital asset, agree on its rules, and harmoniously govern its usage. Fat chance. Scenario two (the more likely scenario): banks not in the issuing group issue their own digital assets with their own sets of rules and governance.”

Throwing in a good word about XRP, the CEO said, “We strongly believe banks need an independent digital asset to enable truly efficient settlement and we believe XRP is best positioned for that role.”

It remains to be seen, how exactly XRP intends to do what it had set out to do.

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Source.crypto-news.in

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Ripple new version of XRP Ledger 1.2.0 launched

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  • XRP Ledger requested to update the code before February 27.
  • XRP Ledger 1.2.0 is more resistance to censorship.

The San-Francisco-based blockchain company Ripple is reported to have released a new version of its renowned XRP ledger 1.2.0. The new version is designed to improve user experience as well expand the range of services it is offering.

The users of the ledger are requested to update to the latest version before February 27, 2019. The upgrade is vital because without it, the server won’t be able to determine the authenticity of the ledger and in return transactions will not be processed neither will they be submitted.

What has changed?

The new version according to the team at Ripple, is more resistance to censorship. This means that the transaction being processed cannot be determined by any single entity. Moreover, the transaction will remain immutable after entering the ledger. While the previous version was resistance to censorship, the team claims that this version greatly improves the feature. Warnings will be issued if there are attempts to interrupt the working of the ledger.

Furthermore, the upgrade has integrated what is commonly referred to as MultiSignReserve amendment. Ripple has now made it easier who take part in signing transactions while reserving only 5 XRP. Other updates included bug fixing and removal of errors on two transactions.

The company has also launched a bounty program. Developers have been requested to review all the updates in the new version and communicate to the company in the event any vulnerabilities are detected.

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