Connect with us

XRP

XRP Spikes Above $1, Adding 8 Percent Today

Published

on

XRP Spikes Above $1, Adding 8 Percent Today

As the crypto market is rallying, the sixth-largest cryptocurrency, Ripple-affiliated XRP, has demonstrated a rise by around 8% today, printing two massive green candles in the past hour. Over the past week, XRP has grown by more than 13%.

9873_0
Image via TradingView

The XRP coin has surged from the $0.9580 level to the $1.03 price mark on the Binance exchange against USDT, as the flagship cryptocurrency Bitcoin added 10%, soaring to nearly $48,000 from the $44,900 level.

However, this is still 28% lower than XRP’s high of $1.41 reached on Sept. 6 and 48% lower than the peak of $1.97 seen by the XRP community on April 14, when Bitcoin hit its new and latest all-time high of $64,800.

Advertisement

Founder and CEO of DigitalGen Financial Services, Panos Mekras, tweeted that he has never been so bullish on XRP and XRPL as he is now.

Among the reasons for that, he named massive development activity, a gigantic amount of projects being created on XRPL, lots of new features and new use cases.

Advertisement

News Source

XRP

XRP and Other Top Cryptocurrencies Now Accepted by Croatia’s Largest Supermarket Chain

Published

on

Crypto is becoming mainstream in Croatia because of Konzum

Konzum, the largest supermarket chain in Croatia, which was founded all the way back in 1957, has begun accepting cryptocurrencies in its online store, according to a Dec. 1 report by Zagreb-based newspaper 24sata.

The lineup of supported digital currencies includes Ether (ETH), Bitcoin (BTC), XRP, Stellar Lumen (XLM) and Bitcoin Cash (BCH), as well two stablecoins (Tether [USDT] and DAI).

Shoppers are now able to buy groceries, hygiene items, household supplies and other items with the aforementioned cryptocurrencies.

Konzum partnered with Croatian fintech company Electrocoin to use its PayCek system to facilitate crypto payments.

They spent several weeks testing the service before the official rollout in the run-up to Christmas.

Crypto is coming to Konzum’s physical stores

Crypto payments will also gradually become available in Konzum’s physical stores throughout the country.

The company will begin with 60 locations that have self-checkouts. After that, new payment options will be introduced in 630 stores of all sizes throughout Croatia.

Advertisement

News Source

Continue Reading

XRP

XRP Seeks Fresh Rally as Investors Look to Key Events in 2022

Published

on

Ripple announced plans to launch Liquidity Hub in 2022 to assist financial services entities in providing customers with the capacity to buy and sell securities

Ripple has announced a financial liquidity hub planned for 2022. XRP seeks a fresh rally past the $1 mark at December’s start amid investors’ hopes for upcoming events in 2022 that might impact the price.

The goal of Ripple’s Liquidity Hub, which will launch in 2022, is to assist financial services entities in offering their clients the opportunity to buy and sell cryptocurrencies. The functionality will provide enterprise clients access to digital assets from a variety of sources, including market makers, exchanges and over-the-counter trading desks, according to the San Francisco-based company.

Advertisement

Second, according to Ripple CEO Brad Garlinghouse, the ongoing Ripple-SEC lawsuit will be resolved in 2022. ”Ripple is seeing pretty good progress despite a slow-moving judicial process,” according to the CEO. The SEC accused Ripple and its officials of selling $1.3 billion worth of tokens in an unregistered securities offering in December 2020.

XRP/USDT Chart

XRP/USDT Daily Chart, Courtesy: TradinView.com

XRP has improved in price since the Friday sell-off, where it marked lows at $0.87. The cross-border token currently trades at $1. If the buyers of the remittance token push above $1.00, pending buy orders will be filled and market makers will provide more liquidity.

News Source

Advertisement
Continue Reading

XRP

XRP nodes run by Ripple fell out of sync for over 5 hours, disrupted wallet services

Published

on

  • Public XRP ledger nodes “s1” and “s2” run by Ripple fell out of sync with the XRP ledger for over 5 hours yesterday.
  • Non-custodial XRP wallet Xumm was not functioning well, disrupting usage and accessibility. 
  • Ripple engineers to work on increasing public node capacity. 
  • XRP continues flooding exchanges, whale moves 40.4 million worth of tokens and sells on Binance. 

XRP ledger needs improvements to its “Trust Line” related traffic to increase the capacity of nodes to handle simultaneously active users. 

Out of sync XRP nodes disrupt wallet services

Two XRP nodes run and maintained by Ripple and developers, “s1” and “s2,” recently fell out of sync with the network. The disruption lasted 5 hours, and users of non-custodial wallets like Xuum and xrplcluster.com were impacted.

Though XRP has a throughput of 1500 transactions per second (tps), this does not account for “Trust line” transactions on the network. 

Advertisement

When users plan on receiving payments in anything other than XRP, they need a trust line to that asset’s issuing account. This helps avoid token spam and gives users the power to decide what assets to hold and receive without any negative effect on the XRP wallet or balance. 

The amount of “Trust lines” and tokens on the XRP network has exploded beyond the tested or expected numbers. This has disrupted the activity of the XRP ledger’s public nodes. XRPL public nodes and clusters are being scaled up but aren’t ready for a higher volume of “Trust lines” transactions. 

A cryptocurrency analyst, @WKahneman, shared his outlook on the challenges faced by XRP Ledger in a recent tweet. 

Advertisement

Transactions on the applications using the two nodes are held up, and switching to other nodes like xrplcluster.com can create backup there. 

Ripple engineers are working on increasing public node capacity. 

Advertisement

Whales are flooding exchanges with XRP tokens. A mysterious whale recently moved 40 million XRP to Binance and sold the holdings. XRP has failed to recover from the recent price drop. 

FXStreet analysts have evaluated the XRP price trend and predicted a nasty bear trap. 

News Source

Advertisement
Continue Reading