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Ripple and XRP’s popularity gains momentum in land of the rising sun

Ripple has continued to make waves in Japan and its strategic collaboration with Japanese financial giant, SBI Holding has been an important catalyst for the growing popularity of the firm in the country.

According to the Hiroyuki Mihara, the COO Bitbank, one of the largest crypto exchange in Japan, Ripple’s relationships with Japanese firms could be the reason behind increasing popularity of Ripple and XRP. The COO, in a recent interview with Blockinpress, said

“Ripple has good relationships with many companies, including SBI Holdings of Japan. Of course, we have good relationships not only with Japanese companies but also with the whole world. That’s why Japanese people see it as a reliable cryptocurrency, which seems to be the biggest reason, because of the perception that it is easy to use through these relationships.”

However, what might affect XRP trade volume in the country is Ripple’s decision to pull back from providing XRP over-the-counter at scale toward the end of the second quarter, “in light of the OTC desks’ ability to source institutional demand for XRP in the open markets”.

OTC trading has been very popular among the crypto traders in the country. Addressing the same, Mihara stated,

“OTC is the most popular in the Japanese market. I think this is something special for the Japanese market. I know that Sell & Buy order books like Binance order books are popular in Korea. But in Japan, OTC order books are the most popular, so they are different.”

The country has been extremely bullish on cryptocurrency, in general. Besides, the Governor of Tokyo, Yuriko Koike, revealed plans to launch Tokyo’s native digital currency based on Proof-of-Concept [PoC] protocol. Recently, Deputy Prime Minister of Japan and Minister of Finance, Taro Aso who was also the keynote speaker at the FINSUM fintech conference in Tokyo spoke in an affirmation regarding the need to adopt emerging tech while addressing crypto.

Source:ambcrypto

Another catalyzing factor, that led to XRP gaining traction in the country may be the petition to make XRP the official cryptocurrency of the Tokyo 2020 Olympics. The petition created by Ken Takahashi in 2018, was signed by 14,110 supporters. This was occasioned with Ripple’s flurry of collaboration, including its tie-up with MoneyTap.

Source:ambcrypto

Ripple

Real-Time Money Transactions Announced by MoneyGram But Ripple are Nowhere to be Seen

  • MoneyGram, the massive remittance firm has recently announced one of its new services that allow for real-time money sending.
  • At this point, you probably are expecting us to mention ripple are involved, but not this time…

MoneyGram, the massive remittance firm has recently announced one of its new services that allow for real-time money sending. At this point, you probably are expecting us to mention ripple are involved, but not this time…

Real-time 

FastSend is the new project from MoneyGram which is a new service to help customers send their money in real-time to a phone number through a specific website or mobile app. However, this latest product of MoneyGram is not going to be using any technology from ripple.

The chief operating officer of MoneyGram, Kamila Chytil explained that the new product is going to be using Visa’s Direct Original Credit Transaction to help deliver funds to bank accounts via a debit card deposit.

Distributed ledger technology isn’t involved though. The websites and apps will make use of an open-source cloud-based service instead. The CEO further went on to say that while Ripple is not involved in the service, the firm uses blockchain quite a lot in many other areas of their business.

“Today, MoneyGram is utilizing Ripple’s On Demand Liquidity product which allows MoneyGram to trade FX at a corporate level using XRP. It’s a back-end treasury function that’s not consumer facing. The technology is helping to solve the most expensive and time consuming aspect of the current process by reducing the amount of money the company needs to park around the world, which will eventually reduce working capital needs.”

Moreover, she went on to add that MoneyGram is looking into other use cases which could be helped thanks to blockchain. In the end, she spoke quite highly of cryptocurrency and distributed ledger technology, adding that the company is a big believer in the future of global cross-border payments and money transfers. 

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Ripple

Ripple Price Analysis: XRP/USD shoots higher in the US session

  • Ripple trades 4.42% higher on Tuesday as cryptos rip higher.
  • The price is just under the psychological 0.30 level and could break it once again.

XRP/USD 60-Minute Chart

Cryptocurrencies are moving higher in the US session and Ripple is 4.42% higher.

There is a broadening pattern on the intraday chart below and the to level is under threat.

Next up for the bulls is the 0.3070 resistance level and if that is taken out the 0.3463 high.

The bulls will be pleased to see consecutive higher high higher low waves after the retracement over the last few sessions.

To head higher we will need a slight pick up in the volume though.

Ripple Price Analysis

Additional Levels

XRP/USD

OVERVIEW
Today last price0.2986
Today Daily Change0.0115
Today Daily Change %4.01
Today daily open0.2871
TRENDS
Daily SMA200.277
Daily SMA500.2415
Daily SMA1000.233
Daily SMA2000.2555
LEVELS
Previous Daily High0.2952
Previous Daily Low0.2697
Previous Weekly High0.3395
Previous Weekly Low0.2672
Previous Monthly High0.254
Previous Monthly Low0.1846
Daily Fibonacci 38.2%0.2794
Daily Fibonacci 61.8%0.2854
Daily Pivot Point S10.2728
Daily Pivot Point S20.2585
Daily Pivot Point S30.2473
Daily Pivot Point R10.2983
Daily Pivot Point R20.3095
Daily Pivot Point R30.3238

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Latest News – Top Headline for Ripple XRP, February 18th, 2020

  • Ripple XRP is undervalued says CEO
  • Ripple XRP price rally persists with the possibility of a price surge to $0.31 level

XRP News Now – According to Ripple’s CEO Brad Garlinghouse, he claims that Ripple Inc.’s recent multi-billion-dollar appraisal which placed the Ripple as one of the biggest Fintech firms in the U.S should have been higher. In a recent interview on CNN’s First Move, Garlinghouse states that Ripple now holds over $15 billion worth of XRP. According to reports, the figure is higher than the $10 billion evaluation Ripple achieved in a new $200 million Series C funding round.

XRP price rally persists, the possibility of a price surge to $0.31 level

XRP USD TradingView – XRP price encountered support close to $0.2680 and recovered slightly against the U.S dollar. There could be a persistent surge to the price of XRP, though the bears might protect the $0.3100 resistance level. XRP price is gradually correcting higher from the $0.2677 swing low against the U.S dollar. Currently, XRP price is back above the $0.2800 level, but it lacks any sign of bullish momentum.

XRP TradingView – On Monday 17, 2020, two merging XRP bearish trend lines were broken with resistance close to $0.2865 on the hourly chart of the XRP/USD pair. The price could encounter price recovery towards the $0.3000, $0.3050 and $0.3100 resistance levels. There was a massive price decline in XRP from above the $0.3200 and $0.3000 levels. XRP 2020 price went as low as settling beneath the $0.3000 pivot level and the 100 hourly simple moving average.

XRP Price Prediction 2020 – XRP price broke the $0.2800 support level and traded close to the $0.2650 support level. A swing low is established close to $0.2677 and the XRP price is correcting recovering. XRP price exceeded the $0.2750 and $0.2800 resistance levels to commence a fresh XRP price recovery. Also, there was a break above the 23.6% Fib Retracement level of the downward move from the $0.3469 high to $0.2677 low.

Ripple Price Prediction 2020 – XRP Price Prediction 2020

XRP News Nows – if XRP bulls can clear the $0.3070 and $0.3100 resistance levels, there could be a massive surge towards the $0.3400 and $0.3500 resistance levels. In the short term, there could be a price correction above the $0.2900 and $0.2920 levels. Subsequently, if the XRP price fails to gain an impetus above $0.300, it might resume its price decline. XRP News Now, Early support is close to the $0.2800 level, the major support level for XRP 2020 price is close to $0.2650, beneath which the XRP 2020 price could decline further towards $0.2500 or $0.2450 in the near term.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3XRP(XRP)$0.30015.64%

XRP TradingView – XRP News Now, the XRP/USD pair is gradually moving into the bullish zone, while the RSI for XRP/USD pair is back above the 50 levels with a slight bullish indication. The major resistance levels are $0.2940, $0.3000 and $0.3070, while the major support levels are $0.2800, $0.2780 and $0.2650.

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