Ripple is continuing to invest in blockchain and crypto projects. Garlinghouse says that ripple is “probably the largest investor in blockchain and crypto on the planet.”
Ripple’s Chief Executive Officer, Brad Garlinghouse, looks set to make a couple of acquisitions and investments. This is sequel to the release of the 2019 report for the company’s second quarter.
The report shows that Ripple records up to a 48% rise in revenue when contrasted with its Q1 report.
Garlinghouse in an interview with Yahoo Finance said:
“We’re in a very strong position, our business is growing strongly, we have a strong balance sheet, and I intend to press our advantage.”
MoneyGram Now Uses Ripple’s xRapid
In June 2019, Ripple made a commitment of $30M worth of investment in MoneyGram. MoneyGram is a global money wire company based in Texas. Both companies reached an agreement which sees Ripple get up to 10% worth of shares in MoneyGram. The shares happened to be sold at $4.10 each. The deal also has a clause which could see Ripple activated to invest an extra $20M through the acquisition of more shares by the next 24 months.
The management at MoneyGram made it known about the company’s use of xRapid, the XRP transaction solution of Ripple, for remittance payments.
MoneyGram CEO, Alex Holmes went on to explain how important it was to upgrade global systems of payments. This is to be on par with the fintech industry which is seeing rapid evolution.
“It’s imperative that we continue to improve our platform and provide the most effective solution to get funds from point A to point B”, Holmes said. “Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.”
Garlinghouse says Ripple is the Planet’s biggest crypto investor
Garlinghouse said in the interview with Yahoo Finance: “[Ripple Labs is] probably the largest investor in blockchain and crypto on the planet. We’ve publicly announced we’ve made about $500m [of investments] in the space over the last 18 months.”
So far, Ripple’s supply of XRP is about 55% of the entire market
Analysts expect XRP to shoot up soon or get crushed by the bear
Some analyses have even claimed that Ripple’s XRP is forming a falling wedge pattern, which means the cryptocurrency is in for a bullish breakout if it crosses the 30 cent mark.
The XRP community has stated multiple times that the prices will shoot up massively, along with a marked increase in volume. Currently holding below the 30 cent mark, the third-largest cryptocurrency has struggled to rise to a significant number in recent times, forcing some members of the ‘army’ to predict ultimatums for the digital asset. One cryptocurrency enthusiast recently predicted a trendline that showed that if XRP does not break resistance soon, it will be going down under soon.
At press time, Ripple’s XRP trades for $0.26 with a market cap of $11.44 billion. Ripple’s native digital asset holds a 24-hour market volume of $1.3 billion after a 2.2 percent drop in value in the daily spectrum. Currently, the cryptocurrency had fallen even further and was trading for $0.256 with the immediate support holding at $0.247.
The Relative Strength Index (RSI) is closer to the oversold zone, which means that the selling pressure is much higher than the buying one. The fall in buying pressure has just happened throughout the past few weeks after the bear took control of the market.
The Chaikin Money Flow indicator has fallen below the zero line after holding much above it. The fall signifies that the capital leaving the market is more than the capital coming into the market. The Parabolic SAR was holding above the price candles, which means that the cryptocurrency was going through a bearish phase.
Many members of the community were of the opinion that they did not expect XRP to fall to such a low, but the sentiment with the cryptocurrency was still strong. The MACD indicator had moved in a sinusoidal pattern with the signal line crossing the MACD line, another bearish sign.
Many analyses have further claimed that the cryptocurrency is forming a falling wedge pattern, which meant that the cryptocurrency is in for a bullish breakout if it crosses the 30 cent mark. A piece of positive news that XRP received recently was when it got added on the Coinbase Card, along with tokens such as BAT and ZRX. Zeeshan Feroz, CEO at Coinbase UK, had said,
“By more than doubling the number of assets our customers can spend on Coinbase Card, as well as introducing the card to 10 new countries, Coinbase continues to help drive crypto’s role as a utility, and not just an investment.”
Ripple (XRP/USD) forecast on November 18 — 24, 2019
Cryptocurrency Ripple (XRP/USD) is trading at 0.2599. 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 lower border of the Bollinger Bands indicator stripes.
Ripple (XRP/USD) forecast on November 18 — 24, 2019
As part of the Ripple course forecast, a test level of 0.2800 is expected. 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 0.2170. The conservative sales area for Ripple is located near the upper border of the Bollinger Bands indicator strip at 0.3150.
Cancellation of the option to continue the depreciation of the Ripple will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing quotations of the pair above the area of 0.3320. This will indicate a change in the current trend in favor of the bullish for XRP/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Ripple (XRP/USD) forecast on November 18 — 24, 2019 implies a test level of 0.2800. Further, it is expected to continue falling to the area below the level of 0.2170. The conservative area for selling Ripple is located area of 0.3150. Canceling the option of falling cryptocurrency will be a breakdown of the level of 0.3320. In this case, we should expect continued growth.
Santander Launching Ripple-Powered Payments in Six New Corridors, Banking Giant Not Utilizing XRP
Spanish banking giant Santander says it will soon expand its use of Ripple’s cross-border payments platform.
In a recent conference held by the Institute of International and European Affairs, managing director of digital investment banking at Santander, John Whelan, talked about the company’s efforts in blockchain.
He says the company will bring its Ripple-powered payments platform called One Pay FX to all 10 of its main corridors in the near future.
“We actually have a blockchain-based international payments system that’s running on four of our corridors: Brazil, Mexico, UK, Spain. It’ll be on all 10 soon. Instant transfers at very, very tight spreads: 30 basis points.
It’s a nice user experience. I use it myself. I sent money to the United States. It’s available same-day. Fantastic, and at a guaranteed rate.”
In April of this year, Santander executive chair Ana Botín said One Pay FX is now powering more than half of Santander Group’s FX payments.
“With this new initiative that is already in place, we’re actually covering 50% of all the FX payments that the Santander Group does annually.
And it works really well, because the rails that we’re using – which, as you say, we’ve collaborated with Ripple – we’ve been testing those for two years, actually with our own employees. And it works.
It’s safe. It’s fully compliant, and obviously we’ve made sure we comply with all local regulations. So you’re in safe hands.”
One Pay FX launched in October of 2018.
It utilizes Ripple’s primary cross-border payment messaging system, which is designed to be a faster alternative to Swift. One Pay FX does not utilize On-Demand Liquidity, which is powered by XRP.
Santander’s support desk set off a whirlwind of rumors back in March, when it mistakenly stated that it was using XRP.
Santander then retracted the statement and clarified it only uses Ripple’s xCurrent, which does not utilize the digital asset.