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Ripple exec talks about XRP as a means of liquidity management

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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.

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Ripple’s Community Shows Interest in Forking XRP Into “RippleOne”

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What better way to kick off a new week in the crypto industry than by having some potential drama. While Ripple and XRP are prominent entities in the industry, a lot of people have a genuine dislike for both. Things have gotten out of hand recently, as Crypto Bitlord claims he will effectively fork XRP. There is even a Discord channel created for this specific purpose, albeit it seems unlikely much will come of it.

The XRP Fork Plan

While it is not uncommon in the cryptocurrency industry to fork existing projects, most of these ventures are never overly successful. In the case of Bitcoin, there have been so many spin-offs that most people have stopped bothering to keep track of it all. Ethereum also has its own fork, as do numerous other cryptocurrencies on the market today. Surprisingly, it now seems XRP may be added to this list in the near future, assuming the speculation and rumors on Twitter will effectively lead to some plan of action. 

If Crypto Bitlord is to be believed, there will be a fork of XRP in the very near future. The new fork will be known as RippleOne and aims to disrupt the existing ecosystem as a whole. Why anyone would try to fork a project which isn’t even a traditional cryptocurrency in the first place, remains rather unclear. It appears this particular user is not too pleased by the way XRP has performed in recent months, although the same can be said about all cryptocurrencies, tokens, and assets on the market right now. 

The Discord Channel Goes Live

As is often the case in the cryptocurrency industry, an idea like this tends to get some attention sooner or later. There appear to be many XRP holders who are displeased with how Ripple is handling the sale of XRP through its escrow contracts. Even though that move was designed to bring more legitimacy to the project as a whole, it seems a lot of people don’t understand the purpose of taking this approach. There are also concerns as to how Ripple is effectively pushing the XRP price down by continually selling these locked assets every single month. 

As the RippleOne concept gains more traction, it now appears there is a dedicated Discord channel for like-minded users to come together.  Although this is a big step in the right direction toward creating RippleOne, it doesn’t necessarily mean an XRP fork will ever occur. More often than not, this is merely smoke and mirrors to try and cause a ruckus. Effectively forking a project and making it successful is a lot more difficult than people might expect.  If it wasn’t, everyone would so at their leisure, which is the last thing the cryptocurrency industry needs.

Would it Even Pose a Threat?

To this date, no one can deny Ripple has seen its fair share of success over the past few years. While it is true XRP has lost tremendous value compared to its multi-dollar all-time high, the same goes for most of the markets today, with the exception of Bitcoin. Even that currency is down by nearly 50% compared to its all-time high of late 2017. There is no reason to believe these markets will not recover in due time. That being said, not everyone has the patience of a true holder, which is only to be expected under the current circumstances.

Even if this XRP fork were to be created, one has to wonder if it can pose a legitimate threat. Since everyone knows RIpple and XRP by now, it seems unlikely RippleOne will make much of an impact. Moreover, Ripple has the partnerships necessary to become a successful company, whereas RippleOne would have to start from scratch. There are far easier projects to fork if developers want to make a quick buck, as going after XRP will involve a lot of patience and hard work. 

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Ripple’s XRP technical analysis: XRP/USD bulls are lifeless with a position to capitalize to the north

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  • Ripple’s XRP price on Monday is trading marginally in the green, up some 0.20%. 
  • XRP/USD price action is moving in consolidation mode, sitting just above a breakout pennant structure. 
  • Upside appears to be very much capped by resistance within the $0.2600 price area. 

Spot rate:                 0.2542

Relative change:      -0.65%

High:                         0.2637

Low:                          0.2605

XRP/USD

OVERVIEW
Today last price0.2611
Today Daily Change0.0004
Today Daily Change %0.15
Today daily open0.2607
TRENDS
Daily SMA200.2587
Daily SMA500.2793
Daily SMA1000.3312
Daily SMA2000.3365
LEVELS
Previous Daily High0.2647
Previous Daily Low0.2592
Previous Weekly High0.2665
Previous Weekly Low0.2511
Previous Monthly High0.3308
Previous Monthly Low0.2392
Daily Fibonacci 38.2%0.2613
Daily Fibonacci 61.8%0.2626
Daily Pivot Point S10.2584
Daily Pivot Point S20.256
Daily Pivot Point S30.2529
Daily Pivot Point R10.2639
Daily Pivot Point R20.267
Daily Pivot Point R30.2694

XRP/USD daily chart

  • XRP is sitting just above a breached bearish technical pennant, there is a lack of commitment for now. 

XRP/USD 60-minute chart

  •  The heavy near-term supply can be observed within the $0.2600 region, as sellers remain capped within region. 

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Ripple (XRP/USD) forecast and analysis on September 16, 2019

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Cryptocurrency Ripple (XRP/USD) is trading at 0.2627. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Ripple. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator stripes.

Ripple (XRP/USD) forecast and analysis on September 16, 2019

As part of the Ripple course forecast, a test level of 0.2600 is expected. Where should we expect an attempt to continue the growth of XRP/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 0.2740. The conservative buying area for Ripple is located near the lower border of the Bollinger Bands indicator strip at 0.2480.

Ripple (XRP/USD) forecast and analysis on September 16, 2019

Cancellation of the option to continue the growth of the Ripple rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and the closing of quotations of the pair below the 0.2460 area. This will indicate a change in the current trend in favor of a bearish for XRP/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Ripple (XRP/USD) forecast and analysis on September 16, 2019 implies a test level of 0.2600. Further, growth is expected to continue to the area above the level of 0.2740. The conservative area for buying Ripple is located area of 0.2480. The cancellation of the option of cryptocurrency growth will be a breakdown of the level of 0.2460. In this case, we should expect the continuation of the fall.

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