Connect with us

Ripple

Ripple (XRP) Soar, Up 44.2 Percent and $7 Billion Away from Flipping ETH

Published

on

  • Ripple (XRP) rally, add 44.2 percent
  • An Ethereum (ETH)—Ripple (XRP) flip could happen in days

After a six-month consolidation, the stage is ready for Ripple (XRP). Up 44.2 percent at the time of press, XRP is closing in on Ethereum (ETH) and could flip the asset if there is a ballpark 25 percent price increment. At this pace, bulls should set their targets at 80 cents and even $1.40.

Ripple Price Analysis

Fundamentals

Before May-14, Ripple (XRP) performance had been lackluster. Underperforming Bitcoin (BTC) and other top-10 liquid assets, observers said the XRP was decoupling to the delight of Brad Garlinghouse, the CEO of Ripple Inc. In his view, the final decoupling from Bitcoin would be mainly because of the “investor rationale.” That will be when investors would appreciate what each project brings to the table. While talking to CNBC.

“There’s a very high correlation between the price of XRP and the price of Bitcoin, but ultimately these are independent open-sourced technologies. It’s early, over time you’ll see a more rational market and behaviors that reflect that.”

He further adds that most crypto assets will “disappear” in a decade because the sphere “is still a nascent industry, the speculation in the market dominates the trading activity. I think it’s a matter of time until people better understand the different use cases.”

However, with CoinBase Pro decision to support XRP trading in the stringent, compliance demanding state of New York is a big boost for the asset. To some extent, it does clear XRP of the “security” tag, allowing for unbridled investment in the world’s third most liquid asset.

Candlestick Arrangement

Ripple XRP

 

At spot rates, XRP is trading above 40 cents with a market cap of $18,076million,up 44.2 percent in the last week and closing on the ETH gap. Besides the injection of buy pressure, what’s worth noting is that prices are now trading above two critical resistance levels at the back of high participation levels.

Because of this sharp spike, all our XRP/USD trade conditions are right. As a result, the best course of action is to fine-tune entries in smaller time frames with the first modest target at 60 cents and later 80 cents.

On the flip side, in case there is a correction, ideal buy zones will be anywhere between 35 cents and 40 cents in a retest trade.

Technical Indicators

Since Sep 2018 bulls are back—analysis from an effort versus result point of view, supportive of buyers as prices are still consolidating inside Sep 2018 high low. Anchoring our trade is May-14 wide-ranging, bull bar with 187 million against 35 million. In a trend continuation, we expect XRP to close higher with equally high volumes ideally above 100 million.

-News Source

Ripple

PayPal’s new mobile payments app may take the fight to Ripple

Published

on

Many big-league players have started sorting through improved alternatives for fiat and cryptocurrency transactions. Recently, PayPal followed suit by launching its own mobile payments app, Xoom, in an apparent attempt to compete with Ripple. PayPal catapulted its e-funds transfer service to compete with Ripple, its blockchain-based rival, in the crypto-transactions segment.

With Xoom, PayPal aims to re-define the traditional payment services sector by delivering faster and cheaper international transfers. The online payments services provider aspires to make transactions easy and more convenient than Ripple by charging lower transaction fees.

Further, Xoom will be opening its gates to users in 32 European countries, all of whom can send money to users across 130 countries worldwide. It is also important to note that PayPal already has a significant user base across the world, the scale of which can be used by the platform to leverage and boost the services afforded by Xoom.

Ripple has been at the forefront of revolutionizing cross-border payments across the world, affording users the opportunity to make transfers in a quick and seamless way. It is in light of this endeavour that Ripple has consistently focused on tying up with major banks and financial institutions. Ripple had recently made news when it formed a major strategic partnership with Moneygram. By launching Xoom, PayPal aims to position itself alongside other popular international remittance services.

To compete with Ripple, Xoom has partnered with major financial institutions to facilitate transfers of up to £8,800 pounds [$11,029] per transaction. For disrupting the crypto-market, PayPal will have to drop its transaction fee lower than Ripple, a step that will definitely will gather the attention of crypto-users.

If Xoom attains its desired goal, it will disrupt Ripple’s market share. Yet, it will be beneficial for users as a significant number of organizations are coming up with distinctive services blended with blockchain-based cross-border transaction options.

Source:ambcrypto

Continue Reading

Ripple

Ripple’s David Schwartz Believes Uber & Amazon Should Adopt XRP For Payments

Published

on

The chief technology officer at Ripple, David Schwartz recently sat down at the recent WeAreDevelopers conference which took place in Berlin where he said some of the globe’s biggest companies are able to benefit from the use of crypto and other digital assets.

Schwartz went onto talk about Ripple’s work with the numerous financial institutions and banks which improve the speed and cost of cross-border transactions.“If you’re a Seagate or an Amazon or an Airbnb or an Uber, these companies all make large numbers of small payments. Amazon has thousands of merchants that they make payments to. Uber, if you’re in the Philippines and you’re a driver and you need money for milk, Uber would love you to drive for them and buy milk right that day.

But they need efficient payments. They need payments that are as reliable as email for that to happen. And that doesn’t exist. And each of these companies employs literally hundreds of people just in their payments division. And if you imagine if you ran a payment company, you would love to go to any of these new corporates and say, ‘Hey! Fire your hundreds of payment people. We’ll do all your payments.’ But there’s nobody who can do that.”

The CTO of Ripple has said that he believes XRP is in a position to fuel a payments revolution because of its speed and low transactions fees.“We came up with what’s technically a form of federated Byzantine agreement that we call consensus that’s faster and cheaper than proof-of-work. And the result is that XRP is a decentralized digital asset not connected to any jurisdiction, that moves more quickly and more cheaply than Bitcoin. And I would argue that it’s also more censorship-resistant and has some of the decentralization properties that we want. And that’s resulted in low cost, low fees and high transaction volume with low latency…”

“Ripple has built an enterprise payment network on these principals. It consists of three products. One to process real-time payments. One is sort of like the browser to send payments. And one to provide on-demand liquidity.

Financial institutions use xCurrent to make and receive payments, xVia to initiate payments and xRapid to provide cross-border liquidity. And this is a real network. This is a point-to-point network. It’s not a central server like Swift or PayPal. This is a decentralized network where financial institutions interact with each other through protocols that are not centrally controlled.”

According to Schwartz, regulation and education are the two largest obstacles that stand in the way of mainstream adoption when it comes to using cryptocurrency payments. “The biggest obstacle that we’ve found is the legal environment. Enterprises are not ready for a trustless system that’s proven by mathematical algorithms. They have customers who might get their credentials stolen. They might want to go to court. One of the biggest things that we had to do to revolutionize enterprise payments was to come up with a set of rules so that legal agreements can be negotiated with just a couple of redlines rather than a 40-page contract beginning to end of how to handle every possible failure…

So today, our customers use digital assets to settle payments immediately where that makes sense, and they use more conventional means where that makes sense, but they enjoy the benefits of end-to-end messaging, multi-hop and the various things that a multi-standard can provide. We think that digital assets and interledger payments can build that internet of value.”

News Source

Continue Reading

Ripple

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

Published

on

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.

News Source

Continue Reading
Open

Close