Connect with us

Ripple

Ripple exec talks about XRP as a means of liquidity management

Published

on

On the stage of The OECD Global Blockchain Policy Forum 2019, Ripple’s Global Head of Banking, Marjan Delatinne revealed the firm’s vision for XRP while addressing complexities surrounding the traditional financial system in terms of cross-border remittances. She stated:

“We have been working with XRP to ensure that it has the key characteristics in order to be a means of liquidity management. This is the ultimate vision was to bring about a real value to the usage and utility to what a digital asset can play”

Unreliable liquidity management

Cross-border payment in a very liquid currency takes three to five days. And while the Ripple exec agreed that compliance was also an important factor, the main cost, however, was coming from liquidity management. She went on to say that liquidity management was unreliable due to the fact that data does not get transferred together with the transaction. She said: “so there is an invalidation of data after the fact and the transfer and the settlement of value are happening later.”

In general, the way that the existing banking establishments work is that they “trap capital” from corporates, and individuals in order to ensure that they can move money around the globe. This, according to Delatinne, “not only gives rise to capital cost but also has FX as well as counterparty risks” and hence, is a very “complex setup”.

Inefficient pre-funding model

During the panel discussion Delatinne also posed a question,

“Can an agnostic, universal and performing digital assets can change the way that the pre-funding is happening today?”

She said that Ripple’s native digital asset, XRP acted as a bridge asset between two fiat currencies, thus, simplifying existing complexities in the financial system.

Ripple, by leveraging XRP, was inclined toward reducing reliance on pre-funding by enabling money to be sent from one currency and instantly settled in the destination currency and the recent partnership with MoneyGram was focussed on bringing about a solution for on-demand liquidity.

News Source

Ripple

Analysts expect XRP to shoot up soon or get crushed by the bear

Published

on

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.”

News Source

Continue Reading

Ripple

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

Published

on

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.

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

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.

News Source

Continue Reading

Ripple

Santander Launching Ripple-Powered Payments in Six New Corridors, Banking Giant Not Utilizing XRP

Published

on

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.

News Source

Continue Reading
Open

Close