Ripple CEO Brad Garlinghouse Agrees with Trump’s Criticism While Urging the US to Take Leading Role in Crypto Race   

Garlinghouse suggests that the US drop Chinese-controlled technologies, naming Bitcoin and Ethereum as examples      
Source: cryptocomes
Ripple CEO Brad Garlinghouse Agrees with Trump’s Criticism While Urging the US to Take Leading Role in Crypto Race   

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Ripple (XRP) Poised For More Gains, Prices Rebound From Q1 Support

  • () is up 2.6 percent
  • Footprints in the Middle East and Southeast Asia highlight Ripple’s advantages

SWIFT is dominant, but Ripple’s progress is noticeable. Even though most of their partners use xCurrent, clarity in the future will ease their transition to xRapid. That will drive demand for XRP and therefore prices above the current 20 cents consolidation.

Ripple Analysis

Fundamentals

Blockchain companies cannot flourish in isolation. It is even more challenging when the startup is ambitious. As per their statement, Ripple is one such company. Cementing its position as a cheaper but complementing platform for SWIFT, Ripple is recording positive progress.

Over the years, SWIFT has roped in more global banks thanks to the efficiency it brought. Given the demands of globalization and end-users in a never-ending search for more, SWIFT is undoubtedly lagging in several aspects.

Theoretically, Ripple be the perfect option since their solutions are speedy, secure, and above inexpensive. But that’s not the case. Regardless, there is progress. Presently, Ripple has a foothold in South East Asia with Yoshitaka Kitao’s SBI Group hellbent on seeing Ripple succeed.

In the Middle East, The Saudi Arabia Monetary Authority (SAMA), following their successful piloting of xCurrent is promoting Ripple’s solutions to local banks. Similarly, banks in Kuwait are interested with some already using xRapid.

Candlestick Arrangements

Ripple XRP

Changing hands at 31 cents, XRP is neutral and ranging. At the time of writing, prices are up 2.6 percent in 24 hours.  Considering the resilience of buyers in the last couple of days, XRP is bullish with Q1 2019 support at 30 cents being significant.

Notice that not only do we have a double-bar bullish reversal pattern with higher highs from the lower Bollinger Bands (BB) with increasing volumes, but the divergence away from the lower BB is hinting.

Therefore, while bears could be in control, risk-off traders, in line with previous XRP/USD trade plans, can buy the pullback with stop limits below 30 cents.

As a result of this, the first target will be at 34 cents and later 40 cents if demand picks up over the weekend. However, assuming sellers flow back, driving prices below 30 cents, this trade plan will be null.

Technical Indicators

Confirming bears will be a spike of participation, exceeding trading volumes of June 22 of 113 million or 187 million of May 14. Similarly, a break out bar with equally high trading volumes lifting prices above 40 cents could open the door for 50 cents and later 80 cents.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

The post Ripple (XRP) Poised For More Gains, Prices Rebound From Q1 Support appeared first on NewsBTC.


Source: newsbtc
Ripple (XRP) Poised For More Gains, Prices Rebound From Q1 Support

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Ripple CEO Explains Why Facebook’s Approach to Libra Is Just “Silicon’s Valley Arrogance”

Coinspeaker
Ripple CEO Explains Why Facebook’s Approach to Libra Is Just “Silicon’s Valley Arrogance”

Garlinghouse, Ripple joined Squawk Box on CNBC to share his thoughts on Libra, Facebook‘s controversial digital currency.

According to him, the overwhelming publicity that Libra coin has acquired is a good indicator of the brighter future of finance besides widespread condemnation and strong rhetoric of Facebook. He noted:

“I think on the most macro level, it’s been good for the world because it’s brought a lot of attention on a set of technologies that really can’t benefit mainstream banking, mainstream consumer experiences around banking. I think there’s a little bit of, perhaps, arrogance – maybe Silicon Valley arrogance – with how Facebook approached this, and just somewhat brazenly running into some things without checking some of the boxes.”

The Risks of Unregulated Digital Currencies

The CEO echoed the sentiments of Steven Mnuchin, Treasury Secretary, who has issued a warning regarding the latest digital currency such as Libra and the risks associated with unregulated digital currencies.

“In order for these technologies to be used well and to be taken advantage of, it has to be done in a regulatory, compliant way. We can’t expose more risk – whether it’s terrorism financing, whether it’s money laundering. These are a thing that, from its core, has really been focused on making sure we’re partnering with the existing system.”

“Silicon Valley arrogance”

When questioned, why he insisted that “Silicon Vallery arrogance” is at play, Garlinghouse replied:

“I think the conversation with regulators for Facebook started some time ago, and I think they had heard loud and clear some of these reservations, and I don’t think they took the time to address some of them.”

The CEO also shared his thought on the fact that Facebook`s Libra Association, a consortium of presently 28 firms that will spearhead the digital currency, doesn’t include banks. By ignoring incorporate legacy players into the deal, Facebook intentionally jeopardized the party. “There is a huge opportunity to change the way the world financial systems work that is very beneficial to consumers, businesses, etc. But again, it’s not competing with the banks”, added he.

The End of Western Union

At the time of announcing Libra, David Marcus came out and said that “this spells the end of Western Union”. That was a huge call-to-action to the banks around the world that had been watching big tech players and earlier were fearful to come into this space.

This information comes barely a month after Brad attempted to dismiss all the jitters surrounding Libra coin including its future potential. On his defense, he insisted that Facebook`s Libra triggers more banks to opt using his software and related XRP tokens instead of listening to the noise.

Ripple CEO Explains Why Facebook’s Approach to Libra Is Just “Silicon’s Valley Arrogance”


Source: coinspeaker
Ripple CEO Explains Why Facebook’s Approach to Libra Is Just “Silicon’s Valley Arrogance”

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Ripple Price (XRP) Could Climb Higher, Bitcoin Breaks $10,500

  • recovered steadily after trading below the $0.2900 support level against the US dollar.
  • The price climbed higher and broke the key $0.3000 and $0.3200 resistance levels.
  • It seems like an ascending channel is forming with support at $0.3150 on the hourly chart of the /USD pair (data source from Kraken).
  • The price is likely to break the $0.3280 resistance and trade above the $0.3320 level in the near term.

Ripple price is showing a lot of positive signs above $0.3200 against the US Dollar since bitcoin rallied 10%. XRP price could continue to rise if its breaks $0.3280 and $0.3300.

Ripple Price Analysis

Recently, we saw a major downward move in ripple price below the $0.3000 support against the US Dollar. The XRP/USD pair even broke the $0.2900 support and tested the $0.2850 support area. A new monthly low was formed near $0.2833 and the price recently started an upside correction. There was a break above the $0.3000 and $0.3100 resistance levels.

Moreover, the price settled above the $0.3100 level and the 100 hourly simple moving average. The bulls gained traction and the price even broke the $0.3200 resistance. Finally, the price spiked above the $0.3240 resistance and traded towards the $0.3280 level. A swing high was formed at $0.3274 and the price is currently correcting lower. It broke the $0.3240 level plus the 23.6% Fib retracement level of the recent wave from the $0.0.3041 low to $0.3274 high.

However, there are many supports on the downside near $0.3200 and $0.3150. There is also an ascending channel forming with support at $0.3150 on the hourly chart of the XRP/USD pair. The 50% Fib retracement level of the recent wave from the $0.0.3041 low to $0.3274 high is also near the channel support to act as a strong support in the near term.

If there is a downside break below the channel support, the price may move back towards the $0.3040 level. However, the 100 hourly SMA at $0.3090 might protect losses. On the upside, an immediate resistance is near the $0.3275 and $0.3280 levels, above which the price is likely to surge above the $0.3300 level in the near term.

Ripple Price Analysis XRP USD

Looking at the chart, ripple price is trading with a positive bias above the $0.3150 and $0.3040 support levels. Therefore, there are chances of more gains above the $0.3280 and $0.3300 resistance levels.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is slowly moving back into the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower towards the 50 level, with a bearish angle.

Major Support Levels – $0.3150, $0.3090 and $0.3040.

Major Resistance Levels – $0.3280, $0.3300 and $0.3320.

The post Ripple Price (XRP) Could Climb Higher, Bitcoin Breaks $10,500 appeared first on NewsBTC.


Source: newsbtc
Ripple Price (XRP) Could Climb Higher, Bitcoin Breaks ,500

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Ripple Labs Made $533.7M Dumping XRP in 2018, Token Still Down 82% – Bitcoinist

$533.7M Dumping in 2018, Token Still Down 82%  BitcoinistRipple is becoming the source of *fresh* ridicule this month as value hits almost 90% losses against Bitcoin compared to just 18 months ago.
Source: worldnewsoffice
Ripple Labs Made 3.7M Dumping XRP in 2018, Token Still Down 82% – Bitcoinist

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Ripple Fans Should Watch Out For Quant Network’s OverLedger

Ripple Quant Network

Quant Network recently collaborated with Italian tech firm SIA to explore blockchain interoperability. Quant Network is a UK based, and its technology seeks to automate trust functions between various blockchains.

Quant uses OverLedger operating system, the first OS built for blockchains. Many crypto have touted Quant as the ’s InterLedger protocol killer. Unlike ILP, that is limited to value transfer, the applications of Quant’s OverLedger are bottomless.

The technology can settle not just value like Ripple, but also other non-fungible assets like rights to ownership, identity, or contracts.  Similarly, the OverLedger can access data from IOT devices and will soon take on treaty contracts or multichains smart contracts as well.

 OverLedger’s Interoperability Prowess

The InterLedger Protocol has, therefore, a minimal use case when
compared with OverLedger. The latter has a broader scope and has above all
universal interoperability of blockchains working for it. On it, multichain
projects can be built, and their code moved across blockchains as necessary.

It is, consequently, possible for Quaint to build a robust new
financial system that works with banks. Financial institutions that do not want
to be boxed into the use of will go for an OverLedger based payment
platform. SIA, for instance, founded in 1977 by the Bank of Italy, is a key
player in the development of the European domestic payments system. 

The Italian technology firm exploits the vast potential of
information and communication technology for financial systems. Its
blockchain-based platform SIAchain leverages 570 European network nodes with
its SIAnet. The network is a low latency and high-speed fiber-optic network
that SIAchain operates on.

Quant Network’s OverLedger will integrate into SIAchain to enable interoperability. This will allow cross-platform applications for financial institutions to run on it. This could potentially turn the Ripple game upside down. OverLedger platforms will be more efficient and will deliver different blockchain technologies easier.

Quant Network’s OverLedger Disrupting DLT

SIA’s Innovation & Business Solutions Director, Daniele Savarè
has said:

“We actively continue on our path of innovation and the achievement of a fully interoperable blockchain network is the foremost objective we want to reach with the collaboration of Quant Network and its disruptive vision on DLT.”

Distributed ledger technology has the inherent disruptive potential in minimizing friction. It is also a key technology in building trust in the exchange of value, data, and information globally. DLT use cases vary from sovereign identity, central bank digital currencies to trade finance solutions. The permissioned version of DLT is also used by banks, insurance, public and corporate sectors.

The plurality of systems used is growing by the day as new DLT
based innovations are conceptualized. Nevertheless, this vast network of
blockchain-based technology requires standards and interoperability to reach
its full potential. Without these two ingredients, the innovations will remain
as struggling isolated platforms that will not achieve mass adoption on their
own. Quant Network is built to solve these two problems.

Its OverLedger operating system connects all these isolated
networks as the internet did with Application Programming Interfaces years
back. David W, in his Quant Network Medium post, says:

 “OverLedger offers an ANY-to-ANY connection without the need for an additional blockchain in the middle. That is a key feature which enables smooth, interoperable communication between the various systems without the need to run additional consensus, nodes or open up Enterprise networks to thousands of incoming connections required by peer-to-peer networks to the outside world”.

Ripple Labs Made $533.7M Dumping XRP in 2018, Token Still Down 82%

ripple

A new study reveals that more than half a billion dollars during the 2018 bear market by dumping pre-mined tokens on to investors.


Ripple Hits 19-Month Low

It’s common knowledge that when Ripple was first created, all 100 billion XRP tokens in the total supply were pre-mined prior to launching. 80% of these tokens were distributed among the Co-Founders and operating bodies of the company, which over time have been routinely dumped onto the market.

The dumping is a result of two things; business partners exiting out of the company and Ripple Labs selling XRP to fund new endeavours.

According to a new analysis published by Crypto.IQ, Ripple have been systematically dumping a mean average of 2.425 Billion XRP tokens every year since 2014. During the crushing 2018 bear market, when a vast majority of coins had unravelled by more than 90% in value, Ripple Labs banked a healthy $533.6 Million profit.

ripple

Over the course of that 2018 bear market, XRP plummeted by more than 88% in value against BTC pairing, leaving investors who purchased the dumped tokens at a major loss.

Right now, the third-largest cryptocurrency is currently trading at a 19-month low at around 0.00003203 BTC. At its height in January 2018, Ripple 00 traded at 0.00018601 BTC, meaning that versus the peak, holders have seen losses of around 82% as of today. 

According to the most recent quarterly report, Ripple Labs and the company’s former co-founders have so far sold a further $169.42 Million worth of premined XRP token over Q1, 2019. This number is expected to rise in the face of XRP’s rapidly decreasing value against Bitcoin.

Here Come the XRP Army

As Bitcoinist reported, a large group of social media accounts, colloquially known as the ‘XRP Troll Army,’ continues to respond harshly to any criticism of either XRP or Ripple Labs. 

Among the latest victims was veteran financial trader Peter Brandt, who last week issued a warning that XRP/USD could soon halve to $0.16 from above $0.31.

The move would depend on a correction in Bitcoin, he said July 11. This subsequently played out, but XRP managed to avoid the steep decline, bottoming out at $0.29 instead. 

Nonetheless, Brandt endured the pushback of the Troll Army almost immediately, opting to defend his words when challenged about the integrity of his analysis.

“Am I supposed to take a critique from anyone with XRP in their Twitter handle[?] Don’t think so,” he responded.

Could Things Be Looking Up?

Another Twitter trader, @Rektcapital, noted on Wednesday that XRP actually appeared to be showing some signs of promise after the price rebounded off a long-standing support for the first time since 2017. The #3 cryptocurrency however, still has a long way to go before holders see a return on their early investments. 

How the future will unfold for altcoin markets in general remains a topic of intense debate. For Brandt, there remains no hope that assets will rally in response to Bitcoin, despite Thursday in fact seeing broad gains across the top twenty by market cap.

This week, he said that the overall cryptocurrency market cap was due a correction of up to 80% of its 2019 gains, with altcoins taking the majority of the losses.

“While the parabola in BTC was subject to different renderings, the parabola in the total market cap chart was loud and clear,” he wrote on Tuesday. 

“Total cap correct 80%. Most of the damage of decline will occur to altcoins.”


What do you think about Ripple’s performance versus Bitcoin? Let us know in the comments below!


Images via Crypto.IQ, Shutterstock, Twitter @Rektcapital

The post Ripple Labs Made $533.7M Dumping XRP in 2018, Token Still Down 82% appeared first on Bitcoinist.com.


Source: bitcoinist
Ripple Labs Made 3.7M Dumping XRP in 2018, Token Still Down 82%

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Former Ripple employee speaks out, XRP price doesn’t reflect xRapid use

Ripple and its associated cryptocurrency XRP are often conflated. Yet, partnerships announcements and updates from , even when unrelated to the token, impact the . We interviewed a to better understand the relationship between the price of the token and the success of the company.

Major news from Ripple seems to have a direct impact on ’s price. Ripple’s partnership with MoneyGram sent the price up 6.28 percent after the news. Yet, the relationship between token demand and Ripple’s institutional payment products remains unclear.

CryptoSlate reached out to an employee at Ripple for clarity on the matter. The source was only willing to speak contingent on anonymity due to reprisal risks.

Background on the XRP token

XRP was created in January of 2013 by Chris Larsen, Jed McCaleb, and Arthur Brito. Larsen and McCaleb would go on to found Ripple.

The post Former Ripple employee speaks out, XRP price doesn’t reflect xRapid use appeared first on CryptoSlate.


Source: cryptoslate
Former Ripple employee speaks out, XRP price doesn’t reflect xRapid use

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PayPal to Tackle Ripple with New Payment App for Cross-Border Transactions

PayPal to Tackle Ripple with New Payment App for Cross-Border Transactions

Most of the major traditional payment platforms currently available have tried, with little success, to ignore the payment solutions being offered by cryptocurrency services. Now according to reports, PayPal is set to launch its own mobile payments app. Called Xoom, the app could compete with ’s payment solutions, if successful.

At the moment, there isn’t a lot of information on the kind of technology Xoom would be powered by. However, it is hoped that it will facilitate speedy and cheap cross-border payments to users all over the world. This goal is precisely what Ripple has also been running with.

At first, Xoom will begin with access to at least 32 European countries, letting them send money to more than 130 countries across the globe. To facilitate this, Xoom has already entered a partnership with more than a few major banks and other financial institutions to see a possible $11,029 (£8,800) being transferred per transaction.

Also, Xoom is expected to complete all initiated transactions within a few hours and at cheaper rates than currently charges. Xoom transfers are expected to cost $4 within Europe and $9 for transfers outside of the region.

It’s important to take into account the number of users PayPal already has. The company is estimated to operate around 277 million accounts currently and it would be easy for the company to find a way to entice its numerous customers to use Xoom. However, for Xoom to really compete with Ripple, it would have to further drop its transaction fees and significantly increase its speed.

Xoom will also have to improve on its transaction limit. The limit might not favor institutional users and is in no way comparable to Ripple’s services which have no limits on the size of its transactions.

Whether or not it is possible for Xoom to further drop its transaction fees or raise transaction limits cannot be said at the moment. However, it seems very unlikely that Xoom would be able to match Ripple’s speed.

Xoom is probably really touted to compete with Ripple but some thought about whether or not it is a worthy match is not misplaced.

The post PayPal to Tackle Ripple with New Payment App for Cross-Border Transactions appeared first on ZyCrypto.


Source: zycrypto
PayPal to Tackle Ripple with New Payment App for Cross-Border Transactions

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Ripple Price (XRP) Signaling Fresh Increase While Bitcoin Still Below $10K

  • found support near the $0.2830 level and recovered recently against the US dollar.
  • The price traded above the $0.2940 resistance and the $0.3000 pivot level.
  • This week’s followed bearish trend line was breached with resistance near $0.3040 on the hourly chart of the /USD pair (data source from Kraken).
  • The price is now trading with a few positive signs above the $0.3050 support area.

Ripple price is currently trading with a bullish angle against the US Dollar and bitcoin. XRP price could extend its recovery if there is an upside break above the $0.3230 resistance area.

Ripple Price Analysis

Yesterday, we saw a strong drop in bitcoin and Ethereum, but dips were limited in ripple price against the US Dollar. The XRP/USD pair broke the $0.2940 support level and traded to a new monthly low. A swing low was formed near $0.2833 and recently the price started an upside correction. There was a break above the $0.2940 and $0.3000 resistance levels to start a recovery.

Moreover, this week’s followed bearish trend line was breached with resistance near $0.3040 on the hourly chart of the XRP/USD pair. It opened the doors for more gains above the $0.3150 resistance. However, the upward move is facing hurdles near the $0.0.3230 and $0.3240 resistance levels. As a result, the price corrected gains below $0.3150 and the 100 hourly simple moving average. Besides, there was a break below the 23.6% Fib retracement level of the recent wave from the $0.2833 low to $0.3248 high.

However, there are many supports on the downside near the $0.3050 and $0.3040 levels. The 50% Fib retracement level of the recent wave from the $0.2833 low to $0.3248 high is also near the $0.3040 level. There is also a connecting bullish trend line forming with support at $0.3045 on the same chart.

Therefore, the price is likely to find bids near the $0.3040 or $0.3050 level. Below the trend line and $0.3040, the price may perhaps test the $0.3000 pivot level. On the upside, the main resistance is near the $0.3230 and $0.3240 levels. If there is a convincing break above $0.3240, the price could accelerate gains in the near term.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price remains well bid above the $0.3040 level. As long as there is no close below $0.3000, the price is likely to continue higher. A clear break above $0.3240 might push the price to $0.3450.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is likely to gain strength in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently above the 50 level, with a bullish angle.

Major Support Levels – $0.3050, $0.3040 and $0.3000.

Major Resistance Levels – $0.3230, $0.3240 and $0.3320.

The post Ripple Price (XRP) Signaling Fresh Increase While Bitcoin Still Below $10K appeared first on NewsBTC.


Source: newsbtc
Ripple Price (XRP) Signaling Fresh Increase While Bitcoin Still Below K

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