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Ripple XRP News Today – Top Headline for Ripple XRP, December 2019

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  • Ripple aims to bring uniformity to people home and abroad – David Schwartz
  • RippleNet to bridge the gap of sending money abroad

David Schwartz the Chief technology of Ripple in the just concluded Ripple’s UBRI Connect 2019, he states that the company is targeting to bring better financial uniformity to people both in the United State and Overseas. In his Keynote address at the event, Schwartz emphasizes the fact that notwithstanding the misunderstandings, millions of people in America lack adequate access to conventional financial services.

XRP Price Prediction – Ripple XRP Price Prediction

He went thus: “We tend to think we’re overbanked in the United States because you could just go anywhere and open a bank account. But, a fairly shocking statistic, 24 million Americans are underbanked, alongside almost 2 billion people worldwide.”

Schwartz states that Ripple’s broader goal is to help financial institutions and their clients transfer money as swiftly and professionally as email.

Schwartz added, “Today, money is locked up in distinct systems, just like information used to be. If I want to pay you some money, I have to ask you what system you’re on. And it’s slow. Many payment networks shut down outside of business hours. Many payment networks only work in overlapping business hours between the two time zones they make payments between. Payments take days. They are

very uncertain. There are a lot of people who have to make a phone call to say, ‘Did my payment go through?’ And the payment company will say, ‘We don’t know. Call us back in a few days.’”

RippleNet to Bridge the Gap of Sending Money Abroad

Schwartz states that XRP could play a vital role in refining the swiftness and adeptness of payments by giving financial institutions a way to send money abroad using the digital asset as a channel currency.

“On the enterprise side, we built this payment network called RippleNet using XRP to settle where that makes sense. The problem that solves is having to preposition money where you need to make payments. So, for example, without some sort of a cryptocurrency solution, to make a payment to the Philippines you’d have to have Philippine pesos sitting in the Philippines.

XRP (XRP) Price Today – XRP / USD

#NamePrice
3XRP(XRP)$0.2295

Now if you want to make payments on Monday and maybe Friday is a holiday somewhere, you might have to move that money on Thursday or even earlier. And you have to figure out how much money you need and you have to leave it sitting somewhere. What RippleNet does with XRP, is the sender can exchange their sending currency, say US dollars for XRP, send the XRP on the XRP Ledger and buy the Philippine pesos precisely when they need them.”

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Analysts Expect Ripple’s XRP to Surge to $0.30: Here’s Why

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The entire crypto market has been on a tear over the past week, gaining dozens of percent. But altcoins like XRP, especially, have done rather well. In fact, the third-largest cryptocurrency over the past week gained over 15%, per data from Coin360.

Although this price surge has brought XRP to only $0.24, which means that it is still down by more than 93% from its all-time high above $3.00, analysts say this latest uptrend is a precursor to a larger move to the upside.

Related Reading: Ethereum’s Price is “Convincingly Bearish”: Here’s What Comes After 20% Week

Third-Largest Crypto Ready to Trend Higher, Analysts Suggest

Analyst CryptoWolf recently noted that per his earlier analysis, XRP has finally started to decisively break out of a falling wedge pattern that has constrained price action for the past seven months. The cryptocurrency has also surmounted a key horizontal resistance that has been important on a macro basis.

With this in mind, he suggested in the below chart that he expects for XRP to target the 0.382 Fibonacci Retracement of the entire falling wedge over the coming weeks, which suggests a 25% rally is on the horizon.

Related Reading: Research Firm: 3 Use Cases Could Send Bitcoin To $1 Trillion

XRP’s Surge Dependent on Bitcoin

While XRP is preparing to break higher as shown in the chart above, its price

action is primarily dependent on that of BTC; if the leading cryptocurrency doesn’t rally, the altcoin won’t either.10 BTC & 20,000 Free Spins for every player in mBitcasino’s Winter Cryptoland Adventure!

But, fortunately for bulls of XRP, technicals and fundamentals suggest that Bitcoin will soon gain strength.

The current monthly Heiken-Ashi candle for January is printing a green Doji pattern, which would suggest that the long-term Bitcoin price trend is turning positive and that there is an imminent macro reversal on the horizon.

Below is a chart from NewsBTC, showing every time the Heiken Ashi candles flipped from red to green on a monthly basis for BTC. The chart shows that green monthly Heiken Ashi candles have almost always resulted in parabolic surges that brought BTC thousands of percent higher than where it started.

Per a recent report from Glassnode, a crypto and blockchain analytics firm, the BTC network’s mean hash rate (per a one-day rolling moving average) has just reached a 1-year high of 125 exahashes.

While there isn’t an instant correlation between Bitcoin’s hash rate and prices, the fact that miners continue to siphon resources into mining crypto assets bodes well for the long-term trend of this space.

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Analysts Expect Ripple’s XRP to Surge to $0.30: Here’s Why

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The entire crypto market has been on a tear over the past week, gaining dozens of percent. But altcoins like XRP, especially, have done rather well. In fact, the third-largest cryptocurrency over the past week gained over 15%, per data from Coin360.

Although this price surge has brought XRP to only $0.24, which means that it is still down by more than 93% from its all-time high above $3.00, analysts say this latest uptrend is a precursor to a larger move to the upside.

Third-Largest Crypto Ready to Trend Higher, Analysts Suggest

Analyst CryptoWolf recently noted that per his earlier analysis, XRP has finally started to decisively break out of a falling wedge pattern that has constrained price action for the past seven months. The cryptocurrency has also surmounted a key horizontal resistance that has been important on a macro basis.

With this in mind, he suggested in the below chart that he expects for XRP to target the 0.382 Fibonacci Retracement of the entire falling wedge over the coming weeks, which suggests a 25% rally is on the horizon.

XRP’s Surge Dependent on Bitcoin

While XRP is preparing to break higher as shown in the chart above, its price action is primarily

dependent on that of BTC; if the leading cryptocurrency doesn’t rally, the altcoin won’t either.

But, fortunately for bulls of XRP, technicals and fundamentals suggest that Bitcoin will soon gain strength.

The current monthly Heiken-Ashi candle for January is printing a green Doji pattern, which would suggest that the long-term Bitcoin price trend is turning positive and that there is an imminent macro reversal on the horizon.

Below is a chart from NewsBTC, showing every time the Heiken Ashi candles flipped from red to green on a monthly basis for BTC. The chart shows that green monthly Heiken Ashi candles have almost always resulted in parabolic surges that brought BTC thousands of percent higher than where it started.

Per a recent report from Glassnode, a crypto and blockchain analytics firm, the BTC network’s mean hash rate (per a one-day rolling moving average) has just reached a 1-year high of 125 exahashes.

While there isn’t an instant correlation between Bitcoin’s hash rate and prices, the fact that miners continue to siphon resources into mining crypto assets bodes well for the long-term trend of this space.

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You Can Soon Spend XRP at Amazon and Major Retailers With New BitPay Integration

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The crypto payments service BitPay is launching new support for XRP.

BitPay co-founder Tony Gallippi confirms that users will be able to buy gift cards with XRP starting next week. Gallippi retweeted the news, which was first uncovered by a group of XRP enthusiasts.

The gift cards give crypto holders an easy way to spend their digital assets at a long list of major retailers and restaurants, including Amazon, Burger King, DoorDash, Domino’s, GameStop and Home Depot.

BitPay’s main service is designed to offer companies and individuals an easy way to accept cryptocurrency payments, as well as

store their crypto assets. The company added support for XRP payments back in October after partnering with Ripple.

BitPay director of product, Sean Rolland, says the speed and scalability of XRP set it apart from most crypto assets on the market.

“BitPay customers are leveraging the promise of blockchain payment technology and with XRP can offer a payment option that is fast, cost-effective and scalable. The addition of XRP as the next blockchain asset supported by BitPay expands blockchain choices across the payments space.”

Although its gift card service is targeted to the US, BitPay says it processes crypto payments in more than 200 countries around the world.

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