Connect with us

XRP

Apart from XRP, Ripple Liquidity Hub to feature 5 other crypto

Published

on

San Francisco-based blockchain company Ripple will launch a product called the “Ripple Liquidity Hub.” The service would allow enterprises to source digital assets from the broader cryptocurrency market.

According to the official announcement, the Ripple Liquidity Hub is essentially a platform built for the enterprise to buy, sell and hold digital assets at optimized prices across a range of venues. The initiative, which is set to go live by early 2022, will utilize smart order routing to find digital assets at the best prices from market makers, exchanges, and over-the-counter [OTC] desks.

The hub in question also aims to address some specific pain points of enterprise customers, avoiding long and resource-heavy integrations with the help of a streamlined API. As opposed to other offerings, the liquidity service will work towards getting rid of pre-funding requirements to free up working capital.

Advertisement

More Details on Ripple’s new Liquidity service

Apart from XRP, Ripple Liquidity Hub to feature 5 other crypto

Initially, the Ripple Liquidity Hub aims to give business customers access to the major cryptocurrencies such as Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], Ethereum Classic [ETC], XRP, and Bitcoin Cash [BCH]. It is also important to note that the availability of the assets will vary by geography. Over time, the company plans to expand its offering and add more digital assets.

While emphasizing the need for seamless and efficient liquidity management, RippleNet GM Asheesh Birla stated,

“Crypto and financial institutions are embedded in our DNA. So, it makes perfect sense that as they prepare for a crypto-first world, our customers would want access to the same trusted one-stop shop for buying, selling, and holding crypto assets that have powered our extensive work with the financial institution.”

The fintech firm also announced Coinme as its first partner for the alpha version of the product. For the uninitiated, Coinme happens to be the first licensed Bitcoin ATM company with thousands of locations across the United States.

Advertisement

According to Birla, Ripple Liquidity Hub’s infrastructure is already in order owing to the growth with regards to the firm’s RippleNet and On-Demand Liquidity [ODL] products. Integrating more crypto-assets, on the other hand, was in response to meet the rising demand.

Delving deeper into DeFi

Apart from XRP, Ripple Liquidity Hub to feature 5 other crypto

Ripple has ambitious plans in the burgeoning decentralized finance [DeFi] sector. Despite being embroiled in a battle with the Securities and Exchange Commission, Ripple is gearing up to provide features such as support for staking and yield generating functions in addition to exploring avenues for liquidity generation from decentralized exchanges [DEXs].

The latest news comes after Ripple announced support for wrapped XRP [wXRP] on the Ethereum network which will allow holders of the asset to interact with various decentralized protocols.

News Source

Advertisement

XRP

XRP holds key support while indicators point to short-term recovery

Published

on

  • Ripple started a recovery wave above a key support level of $1.024. 
  • XRP price started an upside correction as indicators suggest a short-term recovery.
  • The coin may initiate a fresh downtrend upon a breakout of the $1.024 support level.

XRP is in the process of forming a triple bottom price pattern boding more upside, for the pair priced against the US dollar., XRP price recently found support at the pattern’s base during the formation of the third bottom. Now, Ripple is at a crossroads – a spike in selling pressure may drive a bearish breakout, whilst technical indicators signal a bullish reversal. It all depends on whether or not a critical support level holds. 

XRP rejected above the triple bottom at $1

XRP has found support above $1.024 and started a bullish recovery similar to peer altcoins. The XRP price has found footing at the $1.024 level for the third time making it a triple bottom pattern.

If there is increased demand at the current price level it will push the XRP price towards its double top level at $1.108. However, the 20 and 50-period exponential moving averages may act as minor hurdles at $1.076 and $1.108. 

The MACD has closed the first histogram above the 0 mark, indicating a bullish reversal. While the RSI is still holding at 44, a crossover above 50 may encourage investors to go long. In that case, the XRP price might spike towards $1.165. Additional gains could lift the price towards the next key hurdles at $1.218 or $1.284 

Advertisement
 Ripple 12-hourly chart - Triple bottom to drive uptrend

 XRP 12-hourly chart – Triple bottom to drive uptrend

If XRP disappoints to start a new spike above the $1.081 level, it could extend losses. Initial support on the downside is near the $1.024 level.

The upward trend that started on September 21 also extends to significant support at the $1.024 mark. Therefore, a break below the $1.024 support level might push the price further down. The next critical support level is near $0.963, below which the price may fall to the $0.888 level.

News Source

Advertisement
Continue Reading

XRP

XRP price consolidates as Ripple bulls eye a 15% run-up

Published

on

  • XRP price is hovering above the $1.01 support level, anticipating a potential retest before an upswing originates.
  • A breakdown of this level could lead to a buy opportunity at $0.98 before Ripple rallies to $1.17.
  • A daily close below the $0.92 foothold will invalidate the bullish thesis.

XRP price has been on a downtrend for roughly two weeks and shows that a short-term reversal could be near. Market participants need to watch for two immediate support levels that are likely to facilitate this bullish outlook.

XRP price to pull a 180

XRP price has dropped roughly 23% since November 10 to where it currently trades – $1.04. The downswing is likely to retest the $1.01 support floor formed by the November 18 swing low. This will create a triple tap setup, suggesting that a short-term reversal in momentum is likely. 

In this scenario, the XRP price could attempt to retest the 50% retracement level at $1.17. This run-up would constitute a 15% ascent from $1.01.

While this scenario makes sense, a breakdown of the $1.01 support floor will suggest that a further downswing is possible. However, this move does not invalidate the bullish thesis but provides investors with a buy opportunity at $0.98. Investors can expect a bounce off this level to propel XRP price to the same level as before at $1.17. This move would constitute a 19% climb.

Advertisement
XRP/USDT 4-hour chart

XRP/USDT 4-hour chart

While things are looking up for the remittance token, a breakdown of the $0.98 support level will create a lower low and invalidate the bullish thesis. This move would also suggest a weakness in buying pressure and set the stage for further losses. In this situation, market participants can expect XRP price to drop by about 6% to $0.92.

News Source

Advertisement
Continue Reading

XRP

Abnormal XRP Activity: Someone Transferred 60 Million Coins Between Various Exchanges

Published

on

ripple-xrp

Ripple whale moves coins to and from various exchanges, but the price is not reacting

The Whale Alert transaction tracking service has just shared abnormal transaction activity on the Ripple blockchain that indicates that an unknown person has been transferring a large amount of coins between various exchanges.

According to the page, numerous wallets from different exchanges were involved, including relatively small exchanges like Gopax and Bitso and a much larger exchange, Binance.

Advertisement

The transaction was made with an interval of around one hour. The transaction amount starts from 11 million XRP coins, and the largest transaction was 20 million coins. The further use of the coins remains unknown.

Whale Tracker
Source: WhaleAlert

The price of the coin itself has not yet reacted to the large transactional volume on the blockchain. Currently, coins remain on smaller exchanges. All transactions have been made from exchange to exchange wallets, except a transaction worth 20 million XRP coins.

Some users assumed that the multiple transactions are tied to one whale-tier owner who is trying to redistribute his or her assets between various exchanges.

As for the assets’ market performance: XRP is still moving in the range formed back on Nov. 17. The coin had multiple tests of the upper border of the rangebound but failed to break out from it. Currently, Ripple is gaining 1.8% to its value following the overall recovery of the altcoin market.

Advertisement

News Source

Continue Reading