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Ripple-Based Remittance Firm SendFriend Claims to Save Up to 80% in Fees



Blockchain-based money transfer startup SendFriend utilizes Ripple’s technology to save up to 80% in remittance fees, according to a blog post published on Dec. 12.

SendFriend uses Ripple’s xRapid product for cross-border payments, converting between the United States dollar, XRP and Philippine pesos and circumventing the longer process of traditional banking systems.

Philippines-focused remittance platform

SendFriend’s money transfer app aimed at reducing annual remittance fees for cross-border Filipino workers claims to lower such transaction costs by up to 75%. What makes it possible, according to the startup’s CEO, David Lighton, is RippleNet’s On-Demand Liquidity (ODL) technology.

With ODL, RippleNet’s users can utilize digital token XRP to bridge two currencies in three seconds. “We can now source liquidity, on-demand and depress those transaction costs by

up to 75%,” said Lighton, and further added that the firm managed to reduce charge up to 2%.

Blockchain payment network enhancement

SendFriend joined the RippleNet payment network in January, along with other financial industry players such as JNFX, Transpaygo, FTCS and Euro Exim Bank. In February, SendFriend received $1.7 million in investments from Ripple, the Mastercard Foundation, MIT Media Lab and Barclays among others in a funding round. 

In late July, Chile-based peer-to-peer remittance company CurrencyBird also joined RippleNet. The partnership ostensibly allows CurrencyBird to add new routes to its more than 50 already existing destinations, new currencies, better prices and faster transfer speeds.

That same month, in a bid to drive greater financial inclusion, Philippines-based UnionBank launched a payments-focused stablecoin pegged to the Philippine peso.


Ripple (XRP/USD) forecast on January 27 — February 2, 2020



Cryptocurrency Ripple (XRP/USD) is trading at 0.2207.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 middle border of the Bollinger Bands indicator stripes.

Ripple (XRP/USD) forecast on January 27 — February 2, 2020

As part of the Ripple course forecast, a test level of 0.2210 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 0.2680. The conservative buying area for Ripple is located near the lower border of the Bollinger Bands indicator strip at 0.2200.

Ripple (XRP/USD) forecast on January 27 — February 2, 2020

Cancellation of the

option to continue the growth of the Ripple rate will be a breakdown of the lower boundary of the Bollinger Bands indicator strip. As well as the moving average with a period of 55 and the closing of quotations of the pair below the area of ​​0.1960. This will indicate a change in the current trend in favor of the 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 on January 27 — February 2, 2020 implies a test level of 0.2210. Further, growth is expected to continue to the area above the level of 0.2680. The conservative buying area is located is near the area of ​​0.2200. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 0.1960. In this case, we should expect continued fall.

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Ripple Chief Bashes Bitcoin While XRP Tumbles Again



Ripple chief executive Brad Garlinghouse has been bashing Bitcoin again on its potential for becoming a major payments network. Meanwhile, the company’s own digital currency, XRP, has added to its losses this week.

Speaking to the Wall Sreet Journal recently, Brad Garlinghouse was not very complimentary about Bitcoin. However, the comments are par for the course coming from a company promoting its own centralized payments platform.

Ripple Bashes Bitcoin

Garlinghouse basically told the host that Bitcoin is currently no good for payments,

“I’m bullish on BTC as a store of value, but not for payments. You don’t want to use BTC at Starbucks b/c by the time you get your coffee, it’ll be cold.”

Naturally, the SVP of products at Ripple, Asheesh Birla, agreed with him.

Bitcoin maximalist Udi Wertheimer was not impressed and stated that marketing and narrative are the most important aspects of cryptocurrency. The store of value narrative for BTC was clearly evident during the escalation of geopolitical tensions earlier this month.

Wertheimer continued,

“If ripple doesn’t get its act

together and update its talking points for 2020 it’ll end up flippening cardano,”

Forgetting About the Technology

What Garlinghouse fails to acknowledge is that Bitcoin is a perfectly good method of making payments if solutions such as the Lightning Network (LN) are used.

This layer-two micropayments technology was designed to open channels between users and merchants to enable rapid transfers on top of the Bitcoin network.

According to Defipulse, LN usage has grown by 275% since the same time last year in terms of total value locked in USD. In terms of BTC, it has grown 55% over the same period so people are using it.

Another solution is Liquid — a sidechain enabling rapid low-fee transfers between trusted entities such as cryptocurrency exchanges.

So, yes Brad, there are viable solutions to use Bitcoin to buy a coffee with.

XRP Performance

There is a saying about glass houses and stones, and it may be applicable here in terms of asset performance over the past year.

In 2019 Bitcoin gained 85%, although it was not one of its best-performing years. XRP, on the other hand, was one of the worst-performing crypto assets, dumping 47% over the same period to finish at a two-year low.

Company token supply manipulation has irked investors who want more transparency from Ripple. Leading community members have even suggested hard forking the blockchain to make it more decentralized.

Today XRP is falling again with a 4.5% slide back to $0.22 at the time of publishing.

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Latest News – Top Headline for Ripple XRP, January 26th, 2020



  • Ripple and SEC in regular talks over XRP’s regulatory status
  • Ripple Price Analysis – XRP delines as it lacks buyers at Critical support level

Ripple appears to be showing concerns on its regulatory status as the San-Francisco based company is always in meetings with SEC on the issue. In the crypto sphere in general, the most prevalent regulatory issue is whether a digital asset has legal standing or not. Also whether a digital asset is a commodity or security hangs on how much it is regulated.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %

Ripple News Update – so far the status of Ripple’s native token XRP is still anonymous. It is yet unknown if XRP is a commodity or security. The U.S regulators have considered both BTC and ETH as commodities. To facilitate the decision-making process, an affiliated company with XRP known as Ripple Labs is working earnestly on the issue. The Chairman of the Commodity Futures Trading Commission (CFTC) Heath Tabert spoke on the regulatory status of XRP coin in an interview with Cheddar. Also, the CEO of Ripple shared his thought on Ripple’s regulatory status.

While in an event held in Switzerland, Garlinghouse stated that they are in dialogues with SEC for a while now. He added that educating the regulators is a “really constructive process”. He went thus:

“We’ve been working closely with the SEC over the last year or so to think about which falls in what box because I think if I hear

anything from market participants it’s that we need clarity. That without clarity it’s really difficult to figure out how these will eventually be regulated.”

Mike Dudas the CEO of The Block has given two presentations so far that implies that XRP coin is a security. The presentations provided several posts and comments from Ripple. Among the Ripple executives’ comments are:

“the company created XRP, and that the company and its agents are selling the asset above the need for profit”.

Ripple Price Analysis – XRP delines as it lacks buyers at Critical support level

Ripple Latest Update – XRP coin declined abruptly from $0.23 to $0.21 briefly after the bulls failed to protect the critical support level. Previously, XRP coin was ranging over $0.23 because of the failure of the bulls to endure above $0.25.

Currently, XRP coin has declined to $0.21 again because of a lack of buyers at the critical support level. It is unsure if the recent price decline has ended. The market is still trading on a downward trend. The XRP price decline might likely get to the low of $0.20 because the bears have broken below the exponential moving average.

XRP Price Prediction – Ripple XRP Price Prediction

Ripple News Update – Projections are that the XRP price will hold at the $0.20 support level. If this happens, the bulls will try to drive the XRP price over the EMAs because the market will continue to decline, once the XRP price is below the EMAs. However, if the $0.20 support level breaks, XRP price will decline to a low of $0.18.

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