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How Will These New Regulations Impact XRP And Stellar?

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Ripple XRP and Stellar XLM are best known for their remittance payment solutions. Both cryptocurrencies have been designed to change the way international, cross-border transactions are made. Current FIAT services are slow and expensive, therefore it’s hardly a surprise that blockchain technology is able to make remittance payments more efficient.

For those that aren’t sure how all of this works, let’s explore exactly what remittance payments mean, according to Investopedia:

“A remittance is the funds an expatriate sends to his or her country of origin via wire, mail, or online transfer. These peer-to-peer transfers of funds across borders are economically significant for many of the countries that receive them. Remittances have played an increasingly large role in the economies of small and developing countries.”

Furthermore:

“Remittance payments also comprise a substantial amount of the flow of capital between countries. In 2014, $583 billion in USD was transferred between countries – $436 billion of which was received by developing countries. The countries receiving the largest share of remittances are the BRIC nations China and India. Those countries received $69.97 and $59.49 billion dollars in 2013 by 2015 estimates.”

Venezuela

Venezuela is a bit of a political hotspot at the moment and is also one of cryptocurrencies ‘most mentioned’ countries. During the recent crash of local currency, Venezuela has seen a huge surge in the adoption of DASH, historically as well, Venezuela have also been involved in the production of an ‘oil backed’ cryptocurrency called the Petro. The recent news is not crypto-specific (by this, we mean that these regulations are not focused on just one cryptocurrency) so to speak, but it will have a big impact on how remittance payments can be made with cryptocurrency in the country. Given that XRP and XLM is the most popular solutions for remittance, we can only expect that the pair will remain the ‘payer’s choice’ when it comes to sending money home.

According to Bitcoin.com:

“The Venezuelan government has begun regulating cryptocurrency remittances. The regulator has set a monthly limit and will be collecting commissions of up to 15 percent of the transaction amount. Additionally, new details of its comprehensive registry of crypto service providers have been announced.”

This announcement came last week via The National Superintendency of Crypto Assets and Related Activities (Sunacrip) the Venezuelan cryptocurrency regulator. Part of the new ‘decree’ outlined by Sunacrip, covers:

“The requirements and procedures for the sending and receiving of remittances in crypto assets to natural persons in the territory of the Bolivarian Republic of Venezuela.”

The decree goes on to state that anyone making remittance payments with cryptocurrency into Venezuela will be liable to pay a heft taxation fee of 15%:

“The sender of the remittances referred to in this ruling is obliged to pay a financial commission in favor of Sunacrip up to a maximum amount of 15% calculated on the total of the remittance.”

Source:Crypto Daily

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Ripple

Ripple (XRP/USD) weekly forecast on February 18 — 24, 2019

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Cryptocurrency Ripple (XRP/USD) is trading at 0.2985. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend for Ripple. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.

Ripple (XRP/USD) weekly forecast on February 18 — 24, 2019

As part of the forecast Ripple course is expected to test the level of 0.3210. 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 0.2350. The conservative Ripple sales area is located near the upper border of the Bollinger Bands indicator at 0.3250.

Ripple (XRP/USD) weekly forecast on February 18 — 24, 2019

Cancellation of the option to continue the decline of the Ripple rate will be the breakdown of the upper border of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotations of the pair above the 0.3520 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) weekly forecast on February 18 — 24, 2019 implies a test level of 0.3210. Further, it is expected to continue falling to the area below the level of 0.2350. The conservative area for selling Ripple is located area of 0.3250. The cancellation of the option of falling cryptocurrency will be the breakdown of the level of 0.3520. In this case, we can expect continued growth.

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Ripple forecast and analysis XRP/USD for 2019

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Ripple XRP/USD quotes are trading at 0.3071 and continue to move in the ascending channel. At the moment, we should expect an attempt to continue the fall and a test of the support level near the area of ​​0.1500. Further, the continued growth of cryptocurrency in the region above the level of 8.0000.

Ripple forecast and analysis XRP/USD for 2019

In favor of raising the XRP/USD quotes, a test of the rising trend line on the relative strength index (RSI) will be made. As well as a rebound from the lower boundary of the rising channel. Cancellation of the growth rate of Ripple cryptocurrency in 2019 will be the fall and close of quotes below the level of 0.1000. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of XRP/USD to the area below the level of 0.0250. With the breakdown of the upper boundary of the descending channel and closing above the level of 0.9000, we should expect confirmation of the development of growth in Ripple.

Ripple forecast and analysis XRP/USD for 2019

Ripple forecast and analysis XRP/USD for 2019 implies an attempt to test the support level near the area of ​​0.1500. Where can we expect to continue the growth of cryptocurrency with a potential target at the level of 8.0000. An additional signal in favor of raising Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option quotes will fall and the breakdown of the area of ​​0.1000. In this case, we should expect the continuation of the development of the downward trend in digital currency with a target below 0.0250.

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Crypto Visa Card Now Supports XRP, Tron, Bitcoin Cash, Litecoin, EOS, Binance Coin and Dash

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The mobile crypto app Spend just added support for XRP. The addition gives users the ability to store the digital asset as well as spend it using the platform’s Visa debit card.

Users can instantly convert their XRP to fiat and load it onto the card, which is accepted at Visa’s 40+ million locations worldwide.

Spend supports a total of 180 countries and is now available in the US.

The company has been adding cryptocurrencies to its platform at a rapid rate. This month alone, it added support for XRP, Tron, EOS, Binance Coin, Dash, Litecoin and Bitcoin Cash.

The Spend app is currently available on iOS. It was also available on Android, but the company pulled it from the Google Play store on Friday to address performance issues and create a more seamless experience for users.

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