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Ripple CTO David Schwartz Shares How XRP and the XRP Ledger Work to Crypto Investors

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There are some people that yet do not know how XRP’s ledger and the system works. This is why David Schwartz, the Chief Technology Officer (CTO) at Ripple wrote on Twitter a clear explanation about how the XRP Ledger works for both institutions and individuals.

According to the Twitter user Mr. XRP, there are people that think there is a ledger for retail and a ledger for institutions. David Schwartz answered immediately saying that it is hard to imagine how this would look like.

Schwartz went on explaining that the idea of having two different ledgers that are bridged through an asset issued on both networks sounds good but it has not been constructed yet.

The CTO at Ripple said that the authoritative record of who has what XRP is the XRP Ledger. Additionally, he mentioned that it might be possible to use XRP on private ledgers but it would need operators of this private ledger to get XRP before and create a bridge between the networks.

XRP has always been criticized for being a centralized currency operating in a network that is centralized. Nevertheless, there are several validators confirming the transactions and Ripple does not own a majority of these validators.

Indeed, Ripple and XRP supporters usually claim that Bitcoin (BTC) and Ethereum (ETH) are considered centralized because of their mining centralization in China. It might be possible for the Chinese government to play an important role in attacking the Bitcoin and Ethereum network.

Source: Bitcoin Exchange Guide

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Ripple (XRP/USD) forecast and analysis on July 17, 2019

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Cryptocurrency Ripple (XRP/USD) is trading at 0.3162. 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.

Ripple (XRP/USD) forecast and analysis on July 17, 2019

As part of the forecast Ripple course is expected to test the level of 0.3270. 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 0.2620. The conservative area for Ripple sales is located near the upper border of the Bollinger Bands indicator at 0.3450.

Ripple (XRP/USD) forecast and analysis on July 17, 2019

Cancellation of the option to continue the decline in the Ripple rate will be a breakdown of the upper border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of quotations of the pair above the 0.3620 area. This will indicate a change in the current trend in favor of the bullish for XRP/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Ripple (XRP/USD) forecast and analysis on July 17, 2019 implies a test level of 0.3270. Further, it is expected to continue falling to the area below the level of 0.2620. The conservative area for selling Ripple is located area of 0.3450. Canceling the option of falling cryptocurrency will be a breakdown of the level of 0.3620. In this case, we should expect continued growth.

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Ripple price analysis: XRP/USD defends falling wedge support; breakout still lingers

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  • The bear pressure further pushed Ripple below $0.29 before forming lower support at $0.28.
  • “I agree that crypto isn’t likely to replace fiat currencies,” Garlinghouse.

Ripple continued to press against key support areas yesterday. The downside momentum was augmented by the broad-based selling pressure in the market. As discussed yesterday, the upside was capped at $0.32 while XRP/USD sustained above $0.30. However, the bear pressure further pushed Ripple below $0.29 before forming lower support at $0.28.

The debate surrounding Facebook’s Libra project has seen the CEO of Ripple Brad Garlinghouse advise the crypto industry to work hand in hand with regulators to guarantee success. In a series of tweets, Garlinghouse said that it unlikely that crypto will take the place of fiat currencies in the financial economy.

“I agree that crypto isn’t likely to replace fiat currencies – I have been very vocal that crypto isn’t likely to disrupt the US dollar and other G20 currencies in my lifetime,” he wrote.

Meanwhile, XRP has recovered stepping above $0.3 as the bull’s push towards the falling wedge pattern breakout. Although movement north is still hampered by the selling pressure, XRP/USD has a positive technical picture as seen on the 2-h chart.

Also Read: Cryptocurrencies are not substitutes for fiat currencies – Brad Garlinghouse

The Relative Strength Index (RSI) is currently horizontal at 46 following a recovery from the levels at 30. At the same time, the Moving Average Convergence Divergence (MACD) is stuck in the negative side but moving sideways at -0.004 in addition to having an inclination to the upside.

BTC/USD 2-h chart source

source:.fxstreet.

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Has #XRPArmy Turned Against Ripple? Not Really

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XRP’s recent drop below the $0.30 level was a major test for Ripple’s Twitter army, but they won’t abjure their allegiance

Tiffany Hayden, one of the most vocal members of the XRP army, has been suspected of becoming a non-believer after questioning the strength of the Ripple network. 

That conveniently coincided with the XRP price nose-diving below the $0.30 mark due to the continuous market sell-off.

Everyone who keeps tabs on crypto Twitter has hardly seen any negative comments about Ripple posted by Hayden. However, she recently assumed that the network wouldn’t last much longer if Ripple shuttered that night.

There were legitimate reasons to believe that this might be the case given the painful experience of Stellar, which is considered to be Ripple’s direct competitor.

However, despite these concerns, Hayden made it absolutely clear she hasn’t lost her faith in XRP, claiming that she would rather sell a kidney than her bags of Ripple’s native token.  

She later clarified that the kidney wouldn’t be her own (hopefully, she was joking).

Notably, Ripple’s XRP turned out to be one of the best-performing currencies during the recent sell-off, clinging onto the $0.30 price tag. 

XRP records a modest drop

Image by CoinMarketCap

Still, its underwhelming overall performance in 2019 made many XRP investors reconsider their loyalty.

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