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Ripple price analysis: XRP/USD locked under well supported by $0.2900

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  • XRP/USD recovery is capped by $0.31.
  • The coin is doing better than other top coins.

XRP/USD broke below $0.30 handle to trade at $0.2988 during early Asian hours. The second largest coin with a market capitalization of $12.2 is relatively stable despite a disappointing move under critical support. XRP/USD is down 1.7% in recent 24 hours and unchanged since the beginning of Friday, which compares favorably with the majority of other top-20 coins.

It is worth noting that XRP has been focusing around $0.30 since the beginning of the week as traders tend to buy in dips towards $0.29 support. The coin has lost over 40% of its value in recent 30 days, but it is still a way off its recent low reached at $0.2560 in the middle of September.

Ripple’s technical picture

On the 4-hour chart, XRP/USD is staying within the range, supported by the lower border at $0.2900. This support area might serve as a jumping-off ground for a more sustainable recovery, provided that the overall sentiments towards cryptocurrency assets become more positive. A sustainable movement below the said handle will send prices towards $0.2500 and $0.2290.

On the upside, the local resistance is created by $0.30 handle, which separates us from a more meaningful barrier at $0.3080-$0.31 area. It is created by a confluence of SMA50 (4-hour), a sloping short-term trendline and a psychological resistance. This is going to be a hard nut to crack for the bulls and, considering the downward bias of the Relative Strength Index, we are not going to see a decisive breakthrough anytime soon.

XRP/USD, 4-hour chart

Source: fxstreet

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Santander Clarifies It Isn’t Using XRP for International Payments

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Spanish bank Santander has recently clarified via microblogging platform Twitter that it isn’t using the XRP cryptocurrency for international payments, but is instead using a product developed by Ripple, the firm behind the token.

Santander’s clarification came shortly after it mistakenly told a Twitter user who asked whether it was using XRP that it was using the cryptocurrency for “international payments to 18 EU countries and the USA” through its One Pay FX app.

Given the attention the tweet received, Santander clarified the very next day it was a misunderstanding, and that its One Pay FX app uses Ripple’s xCurrent technology, and not the XRP token.

In its tweet Santander linked to a press release from last year, in which it revealed it was going to use blockchain-based technology to conduct international transfers for clients “on the same day in many cases or by the next day.” Per the document, Santander was the first bank to “roll out a blockchain-based international payments service to retail customers in multiple countries simultaneously.”

As CryptoGlobe covered in March of last year, the Spanish bank partnered with Ripple to launch the One Pay FX app, which is said to rely solely on Ripple’s xCurrent and RippleNet products, not XRP. The app’s users aren’t just able to see their transactions get settled in a short amount of time, they’re also able to see how much each transfer will cost.

One Pay FX was initially available to users  in Spain, the UK, Brazil, and Poland. Over time, Banco Santander revealed it was set to roll it out to more countries throughout the world. Notably, Santander has invested in Ripple back in 2015 and 2016.

Last year, Ripple formed various partnerships to see financial institutions use its products. Among them was MoneyGram, with the goal of speeding up fiat currency settlements. It also joined a consortium of 61 Japanese banks to create an instant payments app.

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“Ripple” of China? Ultrain Is Leading a New Era of Public Blockchain

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“Ripple” of China? Ultrain Is Leading a New Era of Public Blockchain

As Ripple emerges as the latest form of global transaction company, it continues to shine as one of the world’s top blockchain projects. Ripple’s accomplishment is a result of strategically building its implementation of blockchain technology to service existing financial tycoons and banking corporations.

Ultrain’s plan to deliver key services to existing companies shares a similar strategic advantage, which has been at the core of the project since initiation. Although not involved in banking or payment, Ultrain is devoted to provide trusted computing services to enterprise clients and empower traditional industries with blockchain technology, that resemblance reminds many of Ripple. Ultrain is leading a new era of public blockchain to support innovation and advanced business systems.

Ultrain, referring to themselves as the No.1 commercial public chain and the first to realize public blockchain 3.0 technology, is implementing real-world enterprise solutions to enhance enterprise’s traditional business models. While many projects in the market are still in the research and development stages, Ultrain’s enterprise chain is already servicing high profile clients such as Chinese streetwear empire YOHO!, and blockchain gaming development lab Unitopia. The team at Ultrain aims to be the decentralized service platform powering future businesses and is taking steps towards this goal each day with their business development.

Unlike permissioned blockchain networks, that’s only capable of providing internal solutions to known parties, Ultrain’s trusted computing service is based on a permission-less network environment. Ultrain is revolutionizing the industry by streamlining client’s business models, creating a hybrid between the traditional business and a blockchain-based trusted computing model.

Ultrain’s technical superiority allows it to be the only blockchain 3.0 project with open access to public, where new computing nodes or miners can join and provide essential computing power to the platform to further strengthen the Ultrain enterprise chain. Ultrain has recently made their latest batch of computing nodes available for public purchase. These 40 equals, transparent, high-reward trusted computing nodes form part of the essential computing power of Ultrain’s enterprise chain.

Whether Ultrain turns out to be the next “Ripple” or not, no one can deny the fact that advanced blockchain technology is the foundation of this promising project, followed closely by its business development activities., the list of partners continues to grow with aforementioned YOHO! and Unitopia, joined by Electronic Souls, and others to be announced. Applications of Ultrain’s technology have far-reaching use cases in industries such as commerce, gaming, energy, advertising, medical, and philanthropic sectors.

As an open network that anyone can join, Ultrain’s secure, efficient and cost-effective trusted computing services also incentivizes community members to participate in ecosystem growth. Every time a new node joins the network, Ultrain advances towards making their ultimate vision of “a programmable business society” a reality.

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Ripple: XRP: Bitfi adds XRP after Bitrue listing; cites ‘mass adoption’ as key reason

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The XRP community has been in the news multiple times recently due to its activity online and the sheer force of user interactions on social media platforms. The clamoring for mass adoption seems to have received a boost as Bitfi, a popular cryptocurrency wallet, announced that they would be adding XRP to its arsenal. The organization tweeted:

“You asked, we listened. XRP is launching in Bitfi soon. And no, it is not like Bitcoin, poses no threat to Bitcoin, & serves a completely different purpose. Let’s keep an open mind & make the entire community stronger. Spread the love ❤️  #xrp #ripple”

The news garnered a lot of positive reviews from the community and the crypto-verse, with many calling it a piece of “good news”. Post the listing of XRP, many users were also clamoring for the addition of Tezos. To this Bitfi replied:

“Tezis is very high on the priority list.”

Another Twitter user, Teodor Andrei, stated:

“This is a good news, I HODL #XRP”

Bitfi claimed that XRP addition was another step in the wave of mainstream adoption because the platform was mainly Bitcoin-friendly.

XRP also got another morale boost when Bitrue added XRP base pairs against three cryptocurrencies. The three pairs would be DASH/XRP, BAT/XRP, and STORM/XRP. The exchange upgraded their wallet for XRP and resumed deposits and withdrawals of XRP on March 23, 2019.

Bitrue also revealed its future plans for the coin as an XRP airdrop was announced, with a 7.3% interest program for XRP in the works.

@plitern1, a Twitter user, commented:

“Thank you for the continued roll-out of XRP base pairs!🥰 This is how the whole ecosystem of crypto starts to mature as a whole: The diminishing correlation to the Btc peg. It’s not only great for #XRP but for everyone that likes crypto & wants crypto as a whole to succeed.”

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