Two Major Banks Set to Bridge Japan and Brazil Using Ripple Tech

CoinSpeaker

Two Major Banks Set to Bridge Japan and Brazil Using Ripple Tech

MFUG Bank is set to utilise Ripple, as it turns to cryptocurrency for a new payment service that has just been announced.

Two Major Banks Set to Bridge Japan and Brazil Using Ripple Tech

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Source: CoinSpeaker

XRP Price & Technical Analysis: XRP Again under Bearish Pressure

CoinSpeaker

XRP Price & Technical Analysis: XRP Again under Bearish Pressure

XRP is still slightly moving down on Thursday Nov 8, trading at $0.5169, says Dmitriy Gurkovskiy, Chief Analyst at RoboForex.

XRP Price & Technical Analysis: XRP Again under Bearish Pressure

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Source: CoinSpeaker

XRP’s Cobinhood Listing may Trigger a Bullish Trend

Any listing of coin on prominent exchanges does give an upward push to prices of that coin. But considering the wider reach of Cobinhood exchange and the popularity of XRP, a lot of analyst on the street believe this listing could be much more than just an upward push to the prices of XRP and but altogether could trigger a bullish trend.
XRP’s wider reach could probably push it to second place ahead of Ethereum
Ripple’s XRP is the third largest cryptocurrency by market capitalization behind bitcoin and Ethereum, though not mined like other digital currencies because it is owned by one company. It has triggered a lot of interests, in the crypto market, and obviously heading to take over Ethereum and even challenge Bitcoin’s top position.      
The current listing is on the Cobinhood exchange, a crypto service platform known to charge zero fees on transactions. Following this listing, investors can deposit, trade and withdraw XRP on this exchange platform. This is yet another aggressive move to increase XRP token utility level.
Not just Cobinhood listing, fundamentally too XRP has been proving itself much faster and cheaper than Ethereum and Bitcoin. This was reaffirmed by Ripple CEO, Brad Garlinghouse who said, in a recent interview, that XRP is a thousand times cheaper and faster than bitcoin transactions. To quote him
”We use a digital asset called XRP as part of that flow and we use XRP because it’s a thousand times faster than bitcoin transactions and a thousand times cheaper than a bitcoin transaction. We think that the utility of XRP is such that it’s the most efficient digital asset to solve this problem on cross-border payments. So, Ripple, the company is really building on top of this open-sourced eco-system that I call the XRP eco-system, and Ripple’s building vertically on top of that – as a payments company.”
Ripple portrays an image of an aggressive, target driven set up. Its focus is on pushing their token as far high as it can reach, by improving the utility derived from its uses. This, they have demonstrated by creating a liquidity tool called X rapid, among others.
According to Ripple CEO, this tool enables financial institutions to save up to 70% compared to other existing tools in managing and spreading liquidity. Its expected acceptance is high because it has been introduced to major banks.
Considering the recent happening in XRP, its incorporation by banks on RippleNet and introduction of blockchain based products like xCurrent, xPring and xRapid, and current listing on Cobinhood. It is justified to say the bulls are unleashed.
XRP will surely gain on the back of the Cobinhood listing and its fundamental achievements. One has to just wait and watch when does that happen
Do you think XRP can overtake Ethereum and challenge bitcoins supermacy? DO let us know your views on the same.
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Source: CoinGape

XRP Down by 25% this Month, Brazilian Crypto Platform with +1M Customers add Support

While XRP has lost about 25 percent of its value this month, its liquidity is rising as Brazilian digital asset company with over 1 million customers adds XRP to its limited list of cryptos. With XRP trading below $0.50 level, it can extend its losses but Sibos event just might bring a change of momentum.
Mercado Bitcoin adds XRP to its over 1 million customer market
XRP liquidity keeps on rising as exchanges from all over the globe are adding the world’s 3rd largest cryptocurrency. The latest one is Mercado Bitcoin that caters to Brazil and Latin American market. As per the rough translation, the digital asset company announced on Twitter,
“Already have XRP? Transfer now to the Bitcoin Market and participate in the opening of the market. You will soon be able to trade on our platform.”

Já tem XRP? Transfira agora para o Mercado Bitcoin e participe da abertura do mercado. Em breve você poderá negociar em nossa plataforma.
Saiba mais:https://t.co/rmUQF7QxLY pic.twitter.com/V6KUShqSGd
— Mercado Bitcoin (@MercadoBitcoin) October 9, 2018

In order to buy the cryptocurrencies, the process requires you to first create an account. It requires you to have a balance in Reais for which you have to got to deposit page to get credit in your account. The website mentions zero rate for deposit. Then, select the digital asset and buy the cryptocurrency.
The crypto exchange has only a limited number of cryptocurrencies listed on its platform viz. Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and now XRP.
With over 1 million customers, this is another progressive step for XRP that adds to its liquidity and further to its global presence.
Also, read: Ripple to Exhibit RippleNet at Swift’s Sibos 2018 Event, Is another XRP Jump Coming?  
XRP trading below the critical $0.50 level
At the time of writing, XRP has been trading at $0.4727 while being down by close to 2 percent in the past 24-hours. Today’s trading range has been between $0.4623 and $0.4818. With a market cap of $18.7 billion, it has been managing the daily trading volume of $441 million.
XRP 1-day price chart, Source: TradingView
Just last month, XRP price took a surgeon the anticipation of the launch of xRapid reaching about $0.70. Since this month has started, the digital asset has been on a downward spiral. From $0.6306 on September 30 to today’s $0.4727, it has lost 25 percent of its value.
XRP 1-month price chart, Source: TradingView
Now the question that arises is if XRP will wipe out all the September gains? The XRP/USD pair is at a risk of losing more of its value as it is below $0.50 mark. However, Swift’s upcoming Sibos 2018 event could be a silver lining for XRP where Ripple is exhibiting RippleNet and enthusiasts and investors alike are expecting Ripple to make some big announcement.
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Source: CoinGape

Ripple to Exhibit RippleNet at Swift’s Sibos 2018 Event, Is another XRP Jump Coming?  

Ripple is going to be at yet another event but this time it’s the flagship event of its competitor Swift’s Sibos event, one of the biggest global event in the world of fintech. Ripple and XRP enthusiast and investors are anticipating for a bigger announcement and a surge in XRP price.
Ripple to be at one of the biggest global events of fintech world
After gatecrashing Swift’s flagship event Sibos in 2016, this time Ripple is all set to officially take the stage as the website of the event has Ripple listed as one of the exhibitioners.
After Swell on October 1 and 2, Ripple is getting ready to make some headlines with yet another event. This time Ripple will be sharing the stage metaphorically with its biggest competitor Swift.
Last time this event happened, as pointed by a Redditor,
“SWIFT uninvited Ripple last year, and that’s how Ripple ended up putting on SWELL at the same time and place. SWIFT seems to have learned from their mistake, thus Ripple has a vendor slot.”
One of the biggest global events in the world of fintech, this year it is covering how data, AI, and robotics are driving service innovation and business model renewal, new paradigms and technologies for information sharing to tackle financial crime, tackling the widening cybersecurity challenge in the digital economy, and adapting to evolving geopolitical and regulatory priorities.
Currently, SWIFT is a dominant system for international money transfers and payments. However, Ripple is in direct competition with Swift as it provides solutions for faster and cheaper cross-border settlements. Moreover, it has been making deals with banks and financial institutions, having over 100 of them already in its bag.
RippleNet in limelight, XRP to $1?
The official announcement of the Swift’s Sibos, reads,
“Ripple provides one frictionless experience to send money globally using the power of blockchain. By joining Ripple’s growing, global network, financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. With offices in San Francisco, New York, London, Sydney, India, Singapore and Luxembourg, Ripple has more than 100 customers around the world.”
Ripple will be showing its RippleNet product that “offers one experience to send money globally, using blockchain technology,” this time at Sibos 2018 “Enabling the Digital Economy” event at Sydney, Australia.
Also, read: Ripple CEO Talks about Ushering in a New Era of Globalization
At the Swell event, Ripple announced the launch of its xRapid product and it is being expected by the enthusiasts and investor that this event will see even a bigger announcement. And that it would take XRP prices to $1.

At the time of writing, the world’s third-largest cryptocurrency has been trading at $0.4808 while being slightly in the red.
The post Ripple to Exhibit RippleNet at Swift’s Sibos 2018 Event, Is another XRP Jump Coming?   appeared first on Coingape.
Source: CoinGape

Maturing Cryptocurrency Market Sees the Days of the “Crypto Cowboys” Dwindle

Blockchain and cryptocurrency, although long posing a promising digital solution to many of the issues associated with archaic monetary and digital systems, may soon be growing out of its “Lambo” and “Crypto Bro Club” phase as the technologies see greater mainstream adoption rates.
The recent blockchain week in San Francisco points to the fact that the long-held stereotype of so-called “Bitcoiners” being a group of geeky hackers and ostentatious playboys is long gone, with the new crowd consisting of suit-cladded bankers and investors, who are quickly realizing just how impactful DLT technologies can be on modern systems.
Notably, Ripple’s recent Swell event points to this fact, with former U.S. President Bill Clinton highlighting the event as the key-note speaker, discussing how DLT technology could impact the world.
He importantly discussed the importance of regulators walking a fine line between protecting investors and reducing fraud, while still promoting growth of the technology.
“…you can’t apply an old regulatory regime to a new technology…You end up killing the goose that laid the golden egg,” Clinton said.
While speaking to The Street about the new type of cryptocurrency investors and advocates, Michael Didiuk, a partner at Perkins Cole and a former member of the SEC’s blockchain division, notes that regulators and bankers now understand “that this technology is real and is going to be transformative.”
As Cryptocurrency and Blockchain Find More Use-Cases, Industry Further Matures 
Despite the current cryptocurrency bear market, the industry has never seen as much widespread adoption as it has seen in the past several months.
The release of Ripple’s xRapid cross-border settlement system is one such example of cryptocurrencies finding real world use cases that enhance the current monetary systems.
During Ripple’s Swell event earlier this week, Brad Garlinghouse, the company’s CEO, announced that several companies, including Mercury FX, Cuallix, and Catalyst Corporate Federal Credit Union, would be using XRP and xRapid to facilitate cross-border transactions.
Despite no banks using xRapid, Ripple has previously explained that banks would first use their xCurrent settlement system, which uses blockchain rather than cryptocurrency, and then progress to xRapid after seeing the benefits of xCurrent.
Christian Laang, CEO of supply chain management platform Tradeshift, spoke about the maturity and adoption of blockchain, saying:
“Blockchain is an extremely powerful idea, but it’s very far from being a mature technology. If people are becoming millionaires from ICO, they’re disincentivized to create the next generation of technology. There’s a little bit of a bubble with all the short term-ism.”
The idea that the lure of easy wealth inhibits growth expressed by Laang does appear to be true, as many of cryptocurrency and blockchain’s biggest signs of mainstream adoption have occurred over the past few months in the midst of a persisting bear market.
Featured image from Shutterstock.
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Phillip Nunn Changes Position on Ripple (XRP), They Will be the “Microsoft of Crypto”

There has been a long held and persisting debate in the cryptocurrency community as to whether or not XRP, the cryptocurrency commonly associated with Ripple, is truly useful, or if it simply a cash grab by Ripple. Despite this, detractors are beginning to take note of the widespread utilization of XRP, making some of them change their positions.
Phillip Nunn, the CEO of Wealth Chain Capital, is one such XRP detractor who is changing his position on Ripple, explaining his new position to his 31,500 Twitter followers, saying:
“I’ve never been a supporter of #ripple $xrp. But boy they are making some serious moves. And the fact I have issues with their offering are being put aside for now as they become so important in flying the #crypto #blockchain flag… They will become the Microsoft of #crypto.”
Increasing XRP Adoption as Support Grows
The practicality and usability of XRP became increasingly clear over the past few days with the announcement of xRapid going live. This was followed by the news that multiple major companies have already signed on to use the xRapid settlement system, which utilizes the cryptocurrency to facilitate cross-border transactions.
During Ripple’s Swell event earlier this week, Brad Garlinghouse, CEO of Ripple, took to the stage and announced that xRapid would be going live. He added that Mercury FX, Cuallix, and Catalyst Corporate Federal Credit Union would be the first three customers using xRapid.
Despite not signing on any banks to their xRapid system, Ripple claims that banks will not be the first xRapid customers. However, he claims that they will naturally progress from using xCurrent, which is blockchain based, to xRapid, over the next few years.
While speaking to CNBC about banks utilizing xRapid, Asheesh Birla, Ripple’s senior vice president of the product, said:
“Banks worldwide are not first adopters of the xRapid product, but we are seeing a lot of financial institutions in general and payment providers moving forward with that product. In certain markets I think banks will move faster towards leveraging digital assets, and so it really depends on the regulation and the local market. Those countries have a lot more forward-looking regulation when it comes to digital assets, so I would envision that those would be the first bank adopters.”
XRP Price Reflects Increasing Adoption
XRP investors are hoping that the adoption of XRP-based products, like xRapid, will contribute to the volume and liquidity of the digital asset, and in turn will increase its value.
XRP saw tremendous gains in the weeks preceding the release of xRapid, rising from its 30-day low of just over $0.25, to a monthly high of over $0.72 before settling at its current price of $0.53. This price rise has put XRP in direct competition with ETH for the number two spot by market capitalization, with the two cryptos trading places on multiple occasions for the coveted position behind Bitcoin.
It is likely that the onboarding of new customers to xRapid, especially banks, will directly impact the price of XRP.
Featured image from Shutterstock.
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Ripple’s Swell conference: Bill Clinton says, the potential of blockchain technology is very high

The former president of the United States of America, Bill Clinton gave his insights about cryptocurrency and blockchain technology at Ripple’s Swell conference. He did so while referring to his time of presidency, drawing anecdotes from the emergence of the internet.
According to him, there was an initial disparity in accessing such technologies and the need to overcome such disparities was very important. He further added that the disparity of accessing technologies would increase with an increase in the development of technologies like blockchain, Artificial Intelligence, and robotics.
Bill further stated that there was a need to be very careful towards the regulation of newly adopted technologies. He added:
“You can’t apply an old regulatory regime to a new technology…you end up killing the goose that laid the golden egg”
Clinton was accompanied by Gene Sperling, the former economic advisor of the President during his tenure. Together, the both of them covered a wide range of topics, including foreign policies and the cultural issues which were persistent in the cryptocurrency and blockchain spaces.
The former President also spoke about the potential of blockchain technology, stating that it was very high and this was because the technology was accessible across national and international borders without excluding individuals based on their income group. He also spoke about the need for politicians to work together to ensure that an innovative technology like blockchain would not be affected by negative actions. He added:
“Everything could be ruined by negative identity politics and economic and social policy.”
According to recent reports, Matthew Roszak the co-founder and chairman of Bloq gave Bill Clinton his first Bitcoin [BTC] in a conference held at Washington DC in 2016. Hillary Clinton reportedly did not accept Bitcoin for her presidential campaign.
During the Swell conference, Ripple announced the launch of xRapid which focuses on ensuring faster cross-border payments. Some of the companies which will initially use the xRapid technology include MercuryFX, Cuallix, and Catalyst Corporate Federal Credit Union.
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Source: AMB Crypto

Ripple’s xRapid Goes Live, What Happens Now?



Listen Here – https://soundcloud.com/cryptodaily/ripples-xrapid-goes-live-what-happens-now
Yesterday saw the full launch of Ripple’s xRapid. We expected this to happen in the first few weeks of October, though perhaps the 2nd seemed to be a little ahead of our estimations. Either way, xRapid is now live and has been adopted by three major financial service providers – Mercury FX, Cuallix and Catalyst Corporate Federal Credit.
According to CNBC, Asheesh Birla, the Senior Vice President of Product at Ripple has commented on the full xRapid release, stating:
“I’m really excited to bring the product into the market at a time when there is a lot of skepticism about digital assets and their real use case.
Continue reading Ripple’s xRapid Goes Live, What Happens Now? at Crypto Daily™.
Source: Crypto Daily

Ripple Swell Day One Roundup: xRapid Launch and RippleNet Use Cases

The first day of the Ripple’s two-day blockchain conference saw some significant updates.
As predicted, the San Francisco event turned out to be the launchpad of Ripple’s cross-border payment system, xRapid. CEO Brad Garlinghouse took the stage to announce that xRapid will go live for the first time with three mainstream financial institutions.  Payment providers Mercury FX and Cuallix, as well as financial firm Catalyst Corporate Federal Credit Union will deploy xRapid for commercial use, thereby becoming one of the first companies to use XRP tokens to settle international transactions.
Speculators have been bullish on xRapid ever since Ripple announced it. It is believed that bank adoptions will increase the demand for XRP tokens. It would thus appreciate their value against the US Dollar. Just last month, XRP had swelled by more than 100 percent in just a week owing to the xRapid announcement.
A Former US President’s Take on Cryptos
Former US President Bill Clinton had also attended Swell as a key speaker, and he left some noteworthy remarks on blockchain as a whole. Onstage, Clinton joined Gene Sperling, a former White House advisor and Ripple’s board of director, to discuss the need for friendly regulations. The ex-politician compared the emergence of blockchain with that of e-commerce in the late 90s, saying that it would ultimately lead to “disparity of access.”
“The more you develop new technologies like blockchain … AI technologies, robotic technologies … the more the disparity of access is going to be felt.”
Clinton also acknowledged that blockchain assets can be abused in the hands of criminals and terrorists and called for intelligent efforts to identify the downsides without “killing the goose that [lays] the golden egg.” “This whole blockchain deal has the potential it does only because it is applicable across national borders, income groups,” he told Sperling.
Banco Santander’s Experiment with RippleNet
Ed Metzger, the head of innovation of Banco Santander, presented the outcome of their RippleNet-powered cross-border payment app, One Pay FX.
“We believe that financial services are moving to a world of open platforms where companies collaborate to deliver excellent customer service for their customers, and that’s at the core of what we’re doing with One Pay FX,”
Metzger stated, confirming that blockchain drastically improved the way they were handling cross-border payments.

.@bancosantander’s Ed Metzger speaking on stage about One Pay FX at #SwellbyRipple pic.twitter.com/Cp0cYWXtf6
— Ripple (@Ripple) October 1, 2018

“One of our customers was in Italy on holiday and parked in the wrong place,” he shared. “He needed to pay a fine and didn’t have his banking card. He was able to use the app to pay the fine immediately, and stop his car from being towed away.” It only took that customer four-five clicks to conduct an international money transfer, Metzger added.
 
Image from Shutterstock
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Ripple Swell 2018: Brad Garlinghouse talks xRapid, globalization and ‘Internet of Value’

Ripple’s two days Swell Conference 2018 commenced on Monday with panel discussions and interactions with luminaries such as former American President Bill Clinton, Gene Sperling, the National Economic President to Clinton and Obama, and the officials from Ripple itself, including CEO Brad Garlinghouse.
The CEO touched upon how the company was built on Chris Larsen’s vision and claimed that the main fulcrum of the organization was integrating the Internet of Value with the workings of the financial ecosystem. He stated:
“The internet of value is something that a lot of people don’t understand and that is Ripple’s biggest bet. One of our main goals has always been to become builders rather than the ‘disruptors’ that is talked about a lot in Silicon Valley. Being coined a disruptor is somewhat of a catnip to investors but in Ripple’s opinion we don’t always need disruption in the industry.”
Garlinghouse stated that Ripple was not trying to replace banks but was trying to build a system that has never been seen before. According to him, the products launched by the company would not only allow the faster and seamless developments of the blockchain industry but also the entire working ecosystem as well.
The Ripple official focused his discussion on the ‘three-legged piece’ that is required for globalization: data which is basically the internet, goods that need to be carried on the channel and money. According to him, the main problem that persists in the industry right now is the movement of the third factor, money. He bought in the analogy of the shipping industry which was revolutionized with the advent of containers and stated that Ripple was trying to bring about a similar revolution in moving money with its products.
He further added that there was a lot of hype in the blockchain space, a sector where the key aspect has to be enabling value to move like information and removing friction from global payments. He added that solving these cumbersome problems will increase the monetary flow of the economy, thereby opening up a lot of avenues to the general populous. Addressing the problems in the fiat sector, he elucidated on the details that hinder the transfer of value across different areas. He said:
“I have been in discussion with officials from a lot of major players and the stats that we obtained are stunning. We have found out that value transfer is staggeringly slow with an air rate of close to 6% that sometimes rises to 11%. The transactions are also really expensive with sources quoting an astronomical $10 trillion trapped in the banking sector.”
Brad Garlinghouse also announced the commercial availability of the much awaited xRapid, Ripple’s latest product that uses digital assets for cross-border transactions. It was even revealed that Ripple has partnered xRapid with three firms namely, Cuallix, Mercury fx, and Catalyst.
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Source: AMB Crypto

XRP Trending on Crypto Street, Good Things Coming up to Give a Boost

After a significant price hike, XRP bulls are on a breather right now. Meanwhile, Ripple has a number of things lined up that will boost XRP adoption and price in the near future.
XRP bulls take a breather, price in a reversal
The world’s 3rd largest cryptocurrency has been enjoying the significant gains for the past 4 days, only to get a dip today in tandem with the entire crypto market. On the price front, at the time of writing, XRP has been sitting at $0.529 with a loss of more than 7 percent. With a market cap of over $21 billion, like its price, the daily trading volume has taken a severe slump at $979.8 million.
XRP 5-day price chart, Source: TradingView
Given the fact that XRP surged so much in such a short amount of time, this reversal is no surprise.  For now, XRP has settled above the $0.5000 resistance line against the US dollar. Moving further, the price is expected to find resistance at $0.6000 and in order to go on a rally once again, XRP needs to jump $0.6800 mark.
#Trending, XRP in the limelight
If we take a look at the most trending subreddit, Ripple is the hottest one right now. No surprise there, given the way its prices took a hike.
Crypto Subreddit Tracking, Source: https://cryptosub.live/
Also, as shared by a Redditor, chriskingston81, the interest in XRP has taken a spike in South Korea just like its price.
According to Wikipedia, Naver is a South Korean search engine. Started in 1999, it had about 42 million enrolled users and handled 74.7% of all web searches in the country, as of last year. It is apparently referred to as the “Google of South Korea.”

Good things coming up
The news of xRapid to enter the market in the next month or so has the XRP price surging so high in so little time. Reports of successful xRapid pilots by various financial institutions have already hit the market over a period of time. On top of that, Ripple has already partnered up with a number of banks and institutions that will be using its product.  
So, when xRapid will actually hit the market, the prices can be expected to actually skyrocket and hit its all-time high (ATH) at $3.65.
Furthermore, recently we reported how Coil is allowing you to tip XRP on Twitch, Youtube, and Wikipedia. Though for now, it is reportedly invite-only, soon it will be open up for the registration that will further boost XRP usage and adoption.
The purpose of Coil is to offer an ad-free internet to the users as stated by Stefan Thomas,
“For decades, people have discussed the potential of micropayments to support content creators that would move us away from the broken ad-supported web. Others have created subscription services that bundle content. But micropayments and subscriptions have always been built as closed systems, which fail to capture the huge variety of content on the web.”
Ripple has a number of things lined up that will only give XRP’s prices a boost while increasing its adoption.
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Source: CoinGape

Stellar XLM Surges 17% Amidst Market Recovery and Increased Adoption

Stellar’s XLM surged 17% on Friday as the overall cryptocurrency markets posted gains, led by XRP, which was up 55% on a 24-hour trading period at the time of writing. The price rise of Stellar comes as the cryptocurrency is seeing increased adoption, specifically through IBM’s new cross-border settlement system – World Wire.
On Friday, XLM’s price surged from just over $0.21 to nearly $0.28, before falling slightly to its current price of $0.25. The surge came as the cryptocurrency markets saw an influx of funds, with other altcoins, like Bitcoin Cash (BCH) and Cardano (ADA), both up over 10% in the past 24 hours.
The increase in altcoins prices comes after a huge drop that brought the cryptocurrency market cap from its monthly high of $240 billion. This was followed by a drop to a market cap of approximately $185 billion before surging to its current levels of over $222 billion.
During this surge, Bitcoin’s market dominance fell nearly 5%, much of which was given to XRP, whose market dominance surged 4% to 12%.
Price Rise Comes Amidst Increased Cryptocurrency Adoption for Stellar and Ripple
The two leaders of today’s price surge are undeniably XRP and XLM, two cryptocurrencies that are widely viewed as direct competitors. The surge in these crypto’s prices can mainly be attributed to the fact that they are both seeing signs of widespread adoption right around the corner.
Ripple recently announced that their xRapid cross-border settlement product would be rolled out in the next month or so, which could mean increased liquidity and prices for XRP. This will be used to provide banks and financial institutions with highly effective international transfers.
While speaking to CNBC, Sagar Sarbhai, Ripple’s head of regulatory relations for the Middle East and Asia-Pacific, said that the company has made huge progress in their xRapid system, adding that it will go live very soon.
“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production,” Sarbhai said.
Currently, the majority of Ripple’s clients are looking to use their xCurrent product, which utilizes Ripple’s blockchain to facilitate transactions, but does not utilize XRP in order to transfer funds.
Although xRapid is underutilized as compared to xCurrent, there are multiple major companies and institutions that are in trial with, or signed on to use, xRapid. Santander Bank, American Express, MoneyGram, Western Union, and SBI Japan, Mercury FX, and Cambridge Global Payments, are currently the major companies trialing xRapid.
Stellar recently saw its first major example of adoption with the release of IBM’s World Wire payment system, which will be using Stellar’s blockchain to facilitate cross-border payments. The new system is a direct competitor to Ripple’s products, although it differs in that it allows institutions to choose which cryptocurrency they use, and they are not required to use XLM.
As the markets post some major daily gains it is increasingly unclear whether or not the cryptocurrency markets have bottomed, or if there is more room for them to fall.
Featured image from Shutterstock.
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Ripple’s Gain and Ethereum’s Pain Combine to Make XRP the Second Largest Cryptocurrency

The world order of cryptocurrency has finally changed. XRP that has been in third place all this while behind Bitcoin and Ethereum finally has zoomed past Ethereum to take on the second place on the list of cryptocurrencies ranked by MarketCap as reported on Coinmarketcap.com. This rise to second place is a combination of XRP’s new product introduction xRapid and Ethereum’s tussles with its own technology and scalability.
xRapid and strong fundamentals help to skyrocket XRP’s prices
Finally, the ghost of being tagged as a security seemed to have vanished around XRP and Ripple as the coin marched relentlessly forward and broke the USD 0.5 mark on the price charts. The coin dint stops there and went beyond USD 0.75 posting a gain of more than 100% in past 24 hours. This gain was symbolic in its way as the XRP coin finally took over the second place Ethereum and zoomed past it on the list of cryptocurrencies arranged by the highest market cap. While going to press, XRP’s MarketCap was at USD 30 billion compared to Ethereum’s USD 23 billion showing the spike the coin has had in past 24 hours
On XRP’s side, this rise is credited to the latest news about a partnership with the American PNC Bank bringing one more global bank on RippleNet and expanding its reach and network. But a much larger news that is contributing to this price rise is the proximity of launch of xRapid, a new Ripple product. Sagar Sarbhai, head of regulatory relations for Asia-Pacific and the Middle East, earlier this week told CNBC that Ripple Labs is close to launching a new product that could help banks speed up transactions using XRP.
“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production,” Sarbhai said.   
xRapid is designed to work as a bridge between different currencies around the world, allowing payment providers and banks to process faster cross-border transactions. Earlier this year Ripple Lab’s chief executive Brad Garlinghouse boasted there would be “dozens” of banks using xRapid by the end of 2019.
Also, read: Ripple Wave Turning into Tsunami, XRP Eyeing the 2nd Spot with 70% Surge
Ethereum’s pain with technological and scalability issues continues to haunt
While XRP is doing wonders, Ethereum is wrapped with problems that don’t seem to be ending. The coin has a lot of factors surrounding its scalability. Also, a lot of factors might be that the ICOs which were on Ethereum seemingly are cashing out, a strong dollar, and a relatively high inflation rate of 7% for Ethereum.  Arguably, the delay of Casper might be another factor. The market was expecting its imminent release until a change in design to make sharding development easier.
Well, Ethereum will have too soon find solutions to its problems if it has to regain the second spot or the speed at which XRP is progressing it will soon run away to a price where it will become super difficult Ethereum to catch it. For now its all joys to XRP holders and sadness for Ethereum holders.
Will XRP rise further and challenge the Bitcoin in near future? Do let us know your views on the same.
The post Ripple’s Gain and Ethereum’s Pain Combine to Make XRP the Second Largest Cryptocurrency appeared first on Coingape.
Source: CoinGape

Ripple Goes Parabolic and Flippens Ethereum: Are Banks Acquiring XRP?

The crypto community burst with joy earlier today as cryptocurrency prices surged beyond even their most optimistic expectations. Contrary to what everyone has expected, the new price surge was not sparked by Bitcoin, as it usually happens. This time, the bull run is led by none other than Ripple.
XRP Spikes Up
After nine months of a mostly bearish market, crypto enthusiasts started to lose hope that their favorite coins will once again reach their former glory. Now, the new development managed to awake that hope once again.

Ripple just flippened Ethereum for the first time since December 2017.
Absolutely insane market pic.twitter.com/YZZWgfDtoP
— Joseph Young (@iamjosephyoung) September 21, 2018

The new price surge began after Ripple Labs announced new plans for increasing the spread of cryptos. This new optimism was quickly accepted by the entire Ripple community, and then by the whole crypto world.
The reaction that resulted from the announcement has seen a huge spike in the price of XRP, which is constantly growing. Even now, the coin is seeing an increase of over 45%, with its price already breaching the $0.5 mark. Ripple has yet to release all the details of its plan, but a lot of speculation has already flooded the crypto forums and other discussion platforms.
Many believe that this might mean that the banks and financial institutions are finally accepting Ripple’s xRapid product. While skeptical of most cryptos, banks have always favored XRP, and its products are among the biggest reason for this. Ripple’s xRapid has the potential to significantly change the way transactions are being sent since it can increase the speed from hours, or even days, to minutes, or maybe even seconds.
This is especially significant when it comes to cross-border transactions, as the technology used so far wasn’t able to speed up the payment process by itself. The twist, however, lies in the fact that xRapid is completely XRP-oriented. This means that no matter what currency is being sent, it will travel in form of XRP. This will give XRP huge use case in the world of traditional finances, which is making the coin extremely valuable and popular.
As mentioned, Ripple has yet to release the details, including the time and date of its products’ implementation. Whenever the actual act takes place, the effects are already being felt in the new price surge. Not only is XRP benefitting from this news and speculation, but other cryptocurrencies as well. Even Bitcoin has gone up by 4.61% in the last 24 hours, and all the other currencies in the top 100 are also trading in the green at the moment.
In the end, nobody can predict how long is the new bull run going to last. However, it might be signaling that the bears have finally been chased away. If the current situation continues, many believe that cryptos might finally regain the $600 billion that they lost when the market crashed back in January.
The post Ripple Goes Parabolic and Flippens Ethereum: Are Banks Acquiring XRP? appeared first on NewsBTC.
Source: New feedNewsBTC.com