Ripple/XRP: “XRP is definitely coiling up”, says prominent trader and charting expert

Peter Brandt, the author of “Diary of a Professional and Commodity Trader” and a well-known trader tweeted the charts of Steller Lumens [XLM] and XRP on January 21, 2019.
Brandt tweeted the technical analysis chart of Stellar Lumens and set the first target as $0.0653 and the next one at $0.00150 and said “so basically worthless. Sorry.”
Source: @PeterLbrandt
A user, @BrandonVanB replied to Brandt’s tweet:
“@PeterLBrandt do you have any insight into XRP (Ripple). The fundamentals look amazing.”
Peter Brandt replied to @BrandonVanB with another technical analysis chart saying: “XRP is definitely coiling up”
Source: @PeterLbrandt
“Coiling Up” is a technical term used to signify a market which has the potential to make a strong move in one direction after being pushed in the opposite direction or held flat. The idea is that if a market should be headed in one direction due to its fundamentals but has pressure in the opposite direction, it will eventually make a strong move in the course of the original fundamental direction.
Moreover, the coiled move will be more significant and substantial than the move if it would have continued in the normal direction without interference.
Brandt’s tweet doesn’t necessarily mean that the movement of price will move upwards, it could go either way. In addition to the technicals, Ripple is on a crusade with a slew of partnerships with various institutions around the world.
Ripple has over 200+ partnerships which are spread over 40 countries and each one of them is using Ripple’s blockchain solutions, be it xRapid, xCurrent, or xVia.
Brandt’s tweet faced a lot of commotion in the community as Brandt had said that “XRP will replace NO portion of global forex trading volume” in August 2017.
@CarpeNoctom replied to Brandt’s tweet saying:
“Almost every crypto chart looks like that
So I guess everything is worthless soon
Sorry not sorry”
Another Twitter user, @OSD728 commented:
“If the prices of xlm do go that low I will definitely buy more not saying I want it to but still that’s a good entry point”
Peter Brandt is well-known for his prediction of the 2018 crash of cryptocurrencies and for his accurate predictions when it comes to technical analysis or charting.
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Source: AMB Crypto

Ripple Price Analysis: XRP Steady, Inroads to Mainland China

Ripple price stagnant but net bullish
Chinese University partners with Ripple
Average volumes low but projected to rise as XRP demand increase

There is progress from the fundamental side of the equation. Prices are stable but on a bullish path while Ripple continues to partner with universities. From the chart, XRP stands to retest 40 cents and even 60 cents by mid-Feb 2019.
Ripple Price Analysis
Fundamentals
Cryptocurrencies and initial coin offering may be illegal in China. However, that is not stopping Ripple, the company behind the cryptocurrency, XRP, from partnering with the Institute for Fintech Research, Tsinghua University (THUIFR). Their collaboration has yielded a new program: The Blockchain Technology Research Scholarship Program (BRSP).

We are excited to announce that partnering with @Ripple, we launched Blockchain Technology Research Scholarship Program (BRSP) in 2019 ! pic.twitter.com/kImc5p2d4h
— Tsinghua University Institute for Fintech Research (@THIFR3) January 23, 2019

With regulatory headwinds, the expansion and adoption is slow and made worse by dropping asset prices. Now part of the program’s objective will be for guidance, funding in-depth research on Fintech as well as contributing and development of favorable policies. The end game is to promote use of blockchain and related applications as cryptocurrencies.
The Senior Vice President of Global Operations at Ripple, Eric van Miltenburg, said:
“The program’s goal – to provide students with opportunities in blockchain research – closely aligns with that of Ripple’s University Blockchain Research Initiative; we’re thrilled to support THUIFR in this endeavor and look forward to its launch.”
Candlestick Arrangement

At the time of press, XRP is stable, but the ETH gap continues to widen—now at $700 million. Overly, this is bullish and to restate: XRP is technically bullish against the greenback as long as prices are rallying towards 34 cents. The 30 cents mark continues to shore prices.
As we have said, all the Fibonacci retracement levels are psychological and are proven reaction points. It was confirmed yesterday when prices reacted at the 78.6 percent mark. Because of deep corrections from Dec highs, the farthest XRP can retest is Dec highs at 40-42 cents. With this guidance, bulls should be on the sidelines only planning to initiate longs once prices rally past 34 cents—the 50 percent mark—preferably with high transaction volumes helping bulls recoup losses of Jan 20.
Technical Indicators
Despite favorable fundamentals and candlestick arrangements, transactional volumes are low with dropping averages. Even so, there is a chance that increasing demand will lift these averages from 18 million to above 83million registered on Jan 10. Because we are net bullish, XRP stands to soar from spot rates to 60 cents by mid-Feb 2019.
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XRP/USD Technical Analysis: Bear still seems to have strong hold on the coin

The cryptocurrency market may not be surging, but is not plunging much either. However, at the time of press, the second largest coin XRP is trying to maintain a foot on the green pastures.
The coin was valued at $0.3181 with a market cap of $13 billion. The coin reported a 24-hour trade volume of $422 million with a growth of 0.56% in the past day. The coin has plunged in the past seven days by 3.39% but is on the path to recovery as it notes a growth by 0.06% in the past hour.
1-hour
Source: Trading View
The one hour chart of XRP indicates an uptrend from $0.3344 to $0.3394, which further turns to a downtrend that starts from $0.3394 to $0.3256. The coin marks an uptrend from $0.3185 to $0.3227. The coin marked resistance at $0.3256 and marked strong support at $0.3185.
Bollinger Bands appears to be at a point of convergence, slowly decreasing the market volatility. The moving average line is over the candlesticks, marking a bearish market.
Awesome Oscillator indicates a bearish market losing momentum.
Chaikin Money Flow, on the other hand, marks a bullish trend as the marker is above zero.
1-day
Source: Trading view
Considering the one day chart of the coin, an uptrend is visible from $0.2684 to $0.4831 but is followed by a downtrend from $0.3826 to $0.2906. Whereas a second downtrend is observed from $0.5158 to $0.3754. The resistance is marked at $0.4141 and support is marked at $0.2906.
Parabolic SAR makers a bearish market, as the markers have aligned above the candles.
MACD line is under the signal line, pointing towards a bearish market.
Relative Strength Index indicates that the buying and the selling pressure are evening each other out.
Conclusion 
As per the indicators, Bollinger Bands and Chaikin Money Flow, a bullish market is predicted. However, going by the majority of indicators like Awesome Oscillators, Parabolic SAR, and MACD, a bearish trend may continue.
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Source: AMB Crypto

Ripple/XRP: R3 and ING get into a partnership for large scale Corda Enterprise adoption

R3 has finalized a partnership with ING bank which will open ING to an unlimited number of licenses for R3’s commercial blockchain platform, Corda Enterprise.
The partnership deal between R3 and ING is for a span of five years which encourages adoption of CorDapps across a wide range of business functions.
Annerie Vreugdenhil, Head of Innovation for wholesale banking at ING, said:
“Our longstanding joint journey with R3 has proven that this is the most mature enterprise DLT solution to serve the needs of the financial service industry… We are one step closer to deploying live DLT solutions for our clients with the supported infrastructure in place.”
The CEO of R3, David E. Rutter said that ING bank has been a valuable and long-term partner of R3’s and that they have been an enthusiastic adopter of the blockchain. He said:
“As ING takes full advantage of access to Corda Enterprise, we look forward to seeing how the diverse CorDapp ecosystem can deliver gains in productivity, efficiency and profitability across the bank’s diverse business areas.”
R3 is an enterprise blockchain software firm with over 300 partnerships in both private and public sectors which are spread all across the world in multiple sectors like the finance, identity, insurance, and capital markets.
Moreover, R3 recently launched the “Corda Network” on January 16, 2019, which would be managed by a not-for-profit foundation, “Corda Network Foundation”. The foundation will operate independently of R3 and its decision making will be transparent and available to all networks.
Corda Network allows settlement of funds and transfer of data between communities of nodes which could be a collection of business networks and/or private networks which can be done via the CorDapps.
Furthermore, Corda Settler can settle payment obligations arising on Corda with XRP, which is integrated with the Corda settler. Moreover, Corda Enterprise offers additional features targeted at the needs of large and complex organizations, such as the world’s only Blockchain Application Firewall, 24/7 support, dedicated product management and support for industry-standard enterprise databases.
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Source: AMB Crypto

XRP Price Analysis: XRP/USD Trends of January 23–29, 2019

CoinSpeaker

XRP Price Analysis: XRP/USD Trends of January 23–29, 2019

In case the XRP price declines to the previous low of $0.28 and the price bounces then the traders should look for an opportunity to place a long position and take their profit at $0.38 price level.

XRP Price Analysis: XRP/USD Trends of January 23–29, 2019

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Source: CoinSpeaker

XRP/USD Technical Analysis: Market suffocates cryptocurrency as prices remain unchanged

The cryptocurrency market’s volatile nature has been prolonged with a majority of the top coins suffering the same fate. Cryptocurrencies like Bitcoin [BTC], XRP and Ethereum have been going through a mixed phase of bullish and bearish trends, sometimes taking the side of the bull for a longer time. XRP, at the time of writing, had a bearish undertone, which was reflected by most of the other cryptocurrencies too.
1-hour:

XRP’s one-hour graph paints the picture of a cryptocurrency undergoing sideways movement as a result of the unmoving market. XRP’s immediate support has been holding at $$0.318 while the resistance is at $0.343. The downtrend brought the prices down from $0.337 to $0.322.
The Relative Strength Index shows the graph staying in the middle of the overbought zone and the oversold zone. The hold in the middle is a sign of a relative equilibrium between the buying pressure and the selling pressure.
The MACD indicator comprises of the signal line and the MACD line moving as a conjoined pair after a bearish turn. The MACD histogram, on the other hand, is a mix of both bearish and bullish signals.
1-day:

The one-day graph for XRP bears a resemblance to the one-hour graph as both shows sideways price movement. The long-term support is currently at $0.262 while the recent downtrend resulted in the price falling to $0.374 from $0.515.
The Chaikin Money Flow indicator has taken a steep dip below the zero line. This is a sign of the capital leaving the market increasing in momentum compared to the capital coming into the market.
The Awesome Oscillator has shown a dip in its graph when placed side by side with the other time periods. The lull in the graph signifies the lack of market momentum.
Conclusion:
The above-mentioned indicators all point to a bear regime, with an extended bear run predicted. As the investor sentiment sours due to the unmoving market, proponents of the field expectantly wait for the market to go green before recording the longest bear market in the history of cryptocurrencies.
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Source: AMB Crypto

Bitcoin (BTC) Climbs Slightly as Crypto Markets Experience Mixed Trading Session

The past several days have been particularly volatile for the cryptocurrency markets, with Bitcoin (BTC) surging to highs of nearly $3,750 on Saturday before fully retracing to lows of $3,550. Despite this volatility, Bitcoin has been able to hold $3,550 as a level of support and has led the entire crypto markets to rise slightly today.
Analysts are now saying that the market’s ability to hold above its recently established support levels may lead to further gains in the near future.
Bitcoin (BTC) and Crypto Markets Hold Steady
The recent volatility the crypto markets have experienced put their recently established support levels in jeopardy, but they have been able to stabilize above these key levels.
At the time of writing, Bitcoin is trading up less than 1% at its current price of $3,600. Over the past few weeks, BTC has bounced each time it entered the $3,500 region, signaling that buying pressure exists at this price level.
Similar buying pressure has been seen for most major altcoins, which have all established certain levels at which they see strong support.
Trading Room, a popular cryptocurrency analyst group on Twitter, discussed these support levels earlier today, noting that Bitcoin, Litecoin, and Ethereum could all see a bounce if they are able to continue holding steady above their respective levels of support.
“$BTC $ETH & $LTC are holding Key Support Area… Next Target 100 & 200 MAs on Topside (Moving Downwards)… Check #Bitcoin #Ethereum #Litecoin Targets if we get that bounce… I am not gonna speculate on topside breakout or downside breakdown. Will react based on Breakout/Breakdown,” they explained.
Furthermore, Trading Room said in a later tweet that they will only enter new long positions for the aforementioned cryptocurrencies if they are able to break above key price levels by the end of the day.
“All key levels holding across $BTC $ETH $LTC… Price tried to break below key support but violently rejected so far. However will re-enter Longs only after we get a daily candle close above: 3675 #Bitcoin… 123.50 #Ethereum… 32.15 #Litecoin… Trend is your friend, allow it to develop,” Trading Room said.

All key levels holding across $BTC $ETH $LTC
Price tried to break below key support but violently rejected so far. However will re-enter Longs only after we get a daily candle close above
3675 #Bitcoin123.50 #Ethereum32.15 #Litecoin
Trend is your friend, allow it to develop https://t.co/xpT00k5CMx
— Trading Room (@tradingroomapp) January 22, 2019

Altcoins Rise Slightly
Most major cryptocurrencies have risen slightly in price today.
Most major altcoins are trading up marginally today.
At the time of writing, Ethereum is trading up over 1% at its current price of $119.1. Ethereum has climbed slightly from its recent lows of $115 that were set earlier today but is down from its weekly highs of nearly $126.
XRP is trading flat today at its current price of $0.3198. Earlier today, XRP dropped to lows of $0.314 before quickly bouncing back to its current price levels.
Bitcoin Cash is one of today’s best performing altcoins, as it is currently trading up just under 6% at $130. Bitcoin Cash clearly has strong buying support at $118, as this was the price at which it surged after touching it earlier this morning.
Featured images from Shutterstock.
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Ripple Price Analysis: XRP “Hostile Takeover” Rumor Quashed

Ripple price strong supports from around 30 cents
Valor Foundation plans of hard forking the Ripple Ledger
XRP demand grows in lower time frames, volumes rise

Even though Jan 20 sellers did wipe out strides, XRP did find support at around 30 cents. With all-around bullish fundamentals, it is likely that bulls will rally and break above 40 cents in the near term.
Ripple Price Analysis
Fundamentals
If the XRP Hostile takeover rumor is even remotely close to the truth, then XRP bag holders should be ready for a blood bath. Hostile takeovers are rare in traditional markets, and a forceful change of management is simple: the acquirer–in our case Vishal Harpalani’s Valor Foundation—identifies an unwilling target company—the “victim” ,in this case, Ripple Labs official issuers of XRP.
Their tactic: raise “tens of millions of dollars,” trigger a price collapse via debt instrument and later hard fork the Ripple ledger. Note that, this move can flop and as a $14-billion-dollar Silicon Valley behemoth, weaned off VC funds and controlled by a determined company, Ripple, ready to defend its turf, we doubt if this can happen.
Exuding confidence, Brad had this to say:

.@danprimack wants to sell some snake oil… any buyers out there!? Media have a responsibility to help the industry understand what’s hype vs. substance, not to propagate blatant attempts at market manipulation. When will media coverage of this industry mature? https://t.co/QzZ3MxoyNR
— Brad Garlinghouse (@bgarlinghouse) January 15, 2019

To defend their publication, the editor at Axios said:

I’m not selling anything to anyone Brad, and you know that. I have zero financial interests in anything crypto. reported on something and clearly said that it is unlikely to work. If it’s about market manipulation, then it was a lousy attempt as xrp is down a whopping penny today
— Dan Primack (@danprimack) January 15, 2019

However, should Valor Foundation raise enough funds and cause an XRP death spiral, their success would help strengthen their overall objective of building a reliable digital payment system tailor-made for those who can’t access banking or other financial services mostly in developing economies.
Candlestick Arrangements

Like BTC, XRP is rejecting sell pressure, and after initial accumulation, demand is increasing in lower time frames. Upswings like this cement our previous position, validating our XRP/USD trade plan. Although we expect prices to rally—now that we have a bullish pin bar near our main support at 40 cents, we recommend maintaining a neutral position. That’s until after there is a clear break above the 50 percent Fibonacci retracement level. The level is the 34 cents mark based off Dec 2018 high low. 34 Cents is significant because the  level meshes with Jan 14 highs.
Once prices rally above 34 cents, risk off traders can initiate longs on pullbacks with first targets at 40 cents. From there on, risk-averse traders can buy at spot rates with modest targets at Dec 2018 highs of 60 cents.
Technical Indicators
Guiding our short-term trade plan is level of market participation. A stand out in recent days is Jan 10 bear bar printing in a predominantly bullish market. We have reiterated this stating that for bulls to be in the driving seat then trade volumes must spike above recent averages of around 17 million and exceed Jan 10 trade volumes of 83 million. No doubt, such rallies will lift prices from spot levels to above 40 cents. In turn, this will lay the foundation for further gains towards $1.
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Ripple Further Spreads Its Reach Joining Chinese University for Blockchain Scholarship Program

CoinSpeaker

Ripple Further Spreads Its Reach Joining Chinese University for Blockchain Scholarship Program

Ripple recently partnered with the Institute for Fintech Research, Tsinghua University to offer scholarships. They aim to sensitize the Chinese young leaders about blockchain’s international regulations.

Ripple Further Spreads Its Reach Joining Chinese University for Blockchain Scholarship Program

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Source: CoinSpeaker

XRP/USD Technical Analysis: Signs of a small bull run imminent in the shorter time-frame

XRP, the second-largest cryptocurrency in the world, still holds its position with a market cap of $13 billion and 24-hour trading volume at $370 million.
Most of the trade volume for XRP comes from ZB.COM exchange via trade pair XRP/BTC. The price of XRP is at
$0.32, however, is on a slight rise today.
1-hour
Source: TradingView
The uptrend for XRP in the one-hour time frame has vanished into thin air, while the downtrend strengthens as it extends from $0.3860 to $0.3247. The support at $0.3205 was breached January 20, 2019, at 12:00 UTC. The prices have resurfaced after a brief dip. The resistance at $0.3426 and $0.3806 are holding steady.
The Parabolic SAR indicator shows a positive trend for XRP as it is seen placed below the price candles in the charts.
The MACD indicator shows a bullish crossover, which started at 22:00 UTC and is close to crossing over to the top of the zero-line.
The Awesome Oscillator also shows decreasing green bars that have spawned and are at the verge of crossing over to the top of the zero-line, indicating a bullish crossover.
1-day
Source: TradingView
XRP’s trend lines in the one-day chart show a similar trend where the uptrend has not gained significant momentum yet. The uptrend extends from $0.2931 to $0.3215. The downtrend ranges from $0.9027 to $0.3754. In this timeframe, XRP being supported at $0.2627, while resistance lines are still holding strong at $0.5821, $0.6899, and $0.9027.
The Aroon indicator shows a downtrend that has gained excessive momentum, while the uptrend is failing to neutralize it.
Chaikin Money Flow, as seen in the chart above, has crashed and burned, indicating that the larger timeframe for the coin is in the bear’s territory.
The RSI shows a similar construct for XRP as the momentum of sellers is increasing, while the buyers are shying away from them.
Conclusion
The one-hour shows a bullish trend for XRP’s prices, as all the indicators [SAR, MACD, and AO] show that bulls’ are taking the prices on a rally. The longer timeframe for XRP shows a slight bear trend as the indicators Aroon, CMF, and RSI all indicate a downtrend.
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Source: AMB Crypto

Ripple Price Analysis: XRP’s Recovery Could Face Major Hurdles

Ripple price traded towards the $0.3100 level recently and later started a correction against the US dollar.
There was a break above a connecting bearish trend line with resistance at $0.3180 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is currently following an ascending channel with support at $0.3160 on the same chart.

Ripple price is slowly recovering against the US Dollar and Bitcoin. However, XRP/USD is likely to face a lot of hurdles on the upside near the $0.3220 and $0.3250 levels.
Ripple Price Analysis
Yesterday, there was a sharp decline in ripple price below $0.3300 similar to Ethereum and bitcoin against the US Dollar. The XRP/USD pair even broke the $0.3200 support and settled below the 100 hourly simple moving average. It traded close to the $0.3100 level and formed a low at $0.3102. Later, the price started a short term upside correction and traded above $0.3150 and $0.3160. Buyers pushed the price above the 23.6% Fib retracement level of the recent slide from the $0.3350 high to $0.3100 low.
Moreover, there was a break above a connecting bearish trend line with resistance at $0.3180 on the hourly chart of the XRP/USD pair. The pair traded towards the $0.3220 level, which acted as a solid resistance. However, there was no test of the 50% Fib retracement level of the recent slide from the $0.3350 high to $0.3100 low. Therefore, there are chances of more upsides towards the $0.3225 and $0.3250 levels. The price action is still bearish and it seems like it won’t be easy for buyers to clear the $0.3220 and $0.3250 resistances.

Looking at the chart, ripple price is currently following an ascending channel with support at $0.3160. There could be a short term spike towards the channel resistance, $0.3220, and the 100 hourly SMA. A failure to gain momentum above these barriers could result in a fresh decline to $0.3100.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is about to move back in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently near the 50 level, with a flat bias.
Major Support Level – $0.3160
Major Resistance Level – $0.3220
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Crypto Markets Near Weekly Lows Following Weekend Volatility

This past weekend was particularly volatile for the crypto markets, which surged on Saturday before fully retracing on Sunday. The resulting losses have carried over into Monday, with most major altcoins trading flat or down slightly today.
Most altcoins are closely tracking Bitcoin’s price action, and one prominent analyst thinks that most major cryptocurrencies are looking slightly bullish on lower time frames.
Crypto Markets Could Be Bullish in the Short-Term
At the time of writing, Bitcoin is trading down marginally at its current price of $3,580, which is just slightly above its weekly lows of $3,570.
On Saturday, the crypto markets surged as Bitcoin jumped to $3,750. Unfortunately, this surge was short-lived and fully retraced on Sunday when the markets sharply dropped to lows of $3,550.
Since then, the markets have been trading sideways, and most major altcoins are currently trading down. Despite this, one analyst thinks that most major cryptocurrencies are bullish in the short-term, which could mean that they will soon see a small relief rally.
In a recent tweet, Mayne – a popular cryptocurrency trade – noted that he is not shorting Bitcoin, Ethereum, or XRP at their current prices, and is going to wait until they reach their relative points of resistance before opening new short positions.
“$BTC $ETH $XRP Back to the charts… I am not shorting any of these pairs here, stop runs until proven otherwise. HTF is bearish and I will short a break down of the key support levels they are all sitting on. Until then, looking slightly bullish on the LTFs,” he explained.
Mayne later said that he is waiting for Bitcoin to reach the low-to-mid $3,600 region before he opens new short positions.
“$BTC Going to look for a short up at the grey block if we get there. Reaction after this weekend’s dump looks bullish on the LTF so no reason to short down here. Expecting a bit of bullish relief intra-week,” he said.
A similar sentiment was echoed by Hsaka, another popular cryptocurrency trader, who recently tweeted that he is neutral on Bitcoin’s price action following the recent drop, and that he is currently holding open positions in multiple altcoins including Cardano (ADA) and Bitcoin Cash (BCH).
“$BTC 1D (01/20/19) Yesterday’s sell the rally analysis played out like a beauty • Bounced before the 3430 support level • Took out lows (green dashed) of this consolidation Neutral here, not shorting into HTF support. Covered my BTC short, holding ADA and BCH.”
Altcoins Drop Slightly After Weekend Volatility
Most major altcoins have dropped slightly today and are closely tracking Bitcoin’s price action.
At the time of writing, Ethereum is trading down 1.6% at its current price of $117.5. This past Saturday, Ethereum surged to highs of over $125 before plunging to lows of $116. Ethereum is currently trading just slightly above its weekly lows.
XRP is currently trading down 0.3% at $0.319. XRP is down from its weekly high of $0.334, which was set this past Saturday, and is up slightly from its weekly low of $0.317, which appears to be a level of relative support for the cryptocurrency.
Featured image from Shutterstock.
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Ripple partners with Chinese research institute for Blockchain Technology Research Scholarship program

Ripple has been working non-stop in terms of spreading its reach, with the firm recently marking a milestone by crossing more than 200 partnerships across 40 different countries. According to Crowd Fund Insider, Ripple has struck another partnership with Tsinghua University, in order to launch a scholarship program.
The Institute for Fintech Research, Tsinghua University [THUIFR] plans to launch a Blockchain Technology Research Scholarship Program [BRSP] for graduate students in China, and Ripple will be supporting the university’s cause with this partnership. THUIFR is a well-recognized and a leading research institute in China and based on its research resources and achievements it will be focusing on international regulatory policies and the development of blockchain technologies.
Ivy Gao, Director of International Cooperation and Development, THUIFR, said
“Most importantly, I believe, this program will greatly help with their future research or career in the field of blockchain technology.”
Eric van Miltenburg, Ripple’s SVP of Global Operations, said:
“The program’s goal – to provide students with opportunities in blockchain research – closely aligns with that of Ripple’s University Blockchain Research Initiative. We’re thrilled to support THUIFR in this endeavor and look forward to its launch.”
Ripple is well-known for its far-reaching partnerships financial industry related companies and even research-based companies and universities. The company plans to support and improve the academic research and development of blockchain and cryptocurrency.
Moreover, Ripple recently announced that it had a few banks going live with their blockchain solution xRapid, which continues to create a lot of buzz in the community. A few days after this announcement, more than five financial institutions announced their plans to go live with xRapid.
With its partnership with the Chinese University, Ripple is slowly moving into countries with strict rules and regulations when it comes cryptocurrencies, and this is considered as a breakthrough by some in the community.
@coupleofcrypto commented:
“Awesome. Go @Ripple. Most criticized in the crypto space, and yet by far the most active to get blockchain technology adopted worldwide… This is part of Ripple partnering with universities around the world to push blockchain development. It’s awesome, Ripple is really helping the entire crypto space, but you take it one step too far Just my opinion.”
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Source: AMB Crypto

XRP gets more decentralized as Proof-of-Work-based cryptocurrencies face extinction

Opinion:
XRP and Ripple, together have created quite a buzz in the financial system, especially in the remittance industry with their blockchain solutions.
XRP has faced all the major cryptocurrencies and triumphed to become the second-largest cryptocurrency by market cap in the space. The only other thing that’s left for XRP to do is, overthrow the reigning champion i.e., Bitcoin [BTC], which obviously had the first-mover advantage and peoples’ sentiment.
Bitcoin’s Proof-of-Work [PoW] Vs. XRP Ledger’s Distributed Agreement Protocol
Bitcoin was the first cryptocurrency that was created and it uses PoW algorithm, which is how the transactions are verified and solves the problem of “double spending”. PoW algorithm consists of miners, who validate the transactions by putting in their resources and, hence, they are rewarded for the same. This process, which seemed good enough, will be relatively rejected by the miners as the reward for mining decreases after mining every 210,000 blocks.
Eventually, the miners will be left with no option, but to quit. Moreover, the PoW algorithm uses massive resources, which extracts a heavy toll on the world we live in. Furthermore, miners that are spread out across the globe is what makes the Bitcoin network decentralized, but it is also what makes it less decentralized and susceptible to attacks.
Since Bitcoin gained a lot of notoriety as its prices sky-rocketed, mining Bitcoins suddenly gained attention, causing a lot of miners to pool their resources to mine the coin, resulting in large pools with huge resources. If some of these pools ever decide to collude, they could easily perform an attack on the Bitcoin’s network, create a second chain, double spend, stop/reverse transactions etc.
Ethereum Classic, a PoW-based cryptocurrency, recently faced a brutal 51% attack, resulting in a loss of $2.1 million worth of assets. The attacker had enough hash-rate to disrupt the original chain and double spend assets.
Unlike Bitcoin [BTC] and Ethereum [ETH], XRP uses Distributed Agreement Protocol aka Consensus Protocol. XRP solves the problem of double spending in a more efficient way in comparison to PoW cryptocurrencies. It uses a distributed agreement protocol that relies on validators to group transactions into ordered units and agreeing on one such order.
These validators are spread across the globe and unlike Bitcoin’s miners, these validators are not rewarded for grouping transactions into ordered units.
In addition, XRP Ledger requires a total of 80% of all the validators on the entire network to support and vote for a change over a period of two weeks before it goes into effect. The two-week timeframe provides an incentive for the users to upgrade their software to accommodate the change. If the change is not agreed upon by the 80% of the users, then it won’t go into effect.
Furthermore, Schwartz said that if more than 20% of the nodes disagree with the majority, the network would halt and reconfigure a new list that has a majority of the nodes in agreement. This would create more than one ledger and the ledger that has the supermajority would be selected as the final ledger.
Moreover, if the validators become selfish and collude to disrupt the normal flow of transactions, then the users would have to agree on a new list that would provide enough overlap so that they can continue to interoperate.
David Schwartz, the CTO of Ripple commented on this matter [about attacking XRP Ledger] in a tweet, he said:
“This has never been a problem for any blockchain in the past, and it’s required by every blockchain when previous agreements fail to be sufficient. Decentralized systems fundamentally allow interoperation only among people who continue to agree on a large number of things.”
“Surprisingly, the lack of incentives in the XRPL design actually makes this much easier. All honest participants want the network to work well and have perfectly aligned interests. There’s no power over anything to give out, no rewards to argue over splitting, or the like.”
Hence, when compared to other PoW cryptocurrencies, XRP is better at resisting attacks by collusion or bad actors, as it does not provide any opportunities for a person to develop control over the ledger due to its consensus protocol. In addition, XRP Ledger uses a deterministic protocol making the validation of transactions impossible to edit.
Other advantages of XRP that makes it a superior cryptocurrency over others would be the transaction speed and cost. XRP can perform 1500 transactions per second, whereas Bitcoin can do only 6 transactions per second and Ethereum can do only 15 transactions per second. Below is a chart which illustrates the same.
Source: Ripple.com
Cryptocurrencies, even Bitcoin, were created as an alternate form payment from the centralized and controlling authorities, and for it succeed it should have higher transaction speed with negligible fees. XRP checks all these boxes, whereas Bitcoin and Ethereum, on the other hand, struggle with these features as they struggle in terms of scalability.
Hodor, a contributor to the XRP community said it best in a blog:
“While Bitcoin maximalists will point to overlay software such as Lightning, there have been numerous intractable problems with using secondary software to interact with POW networks. Using a secondary network to scale doesn’t solve the problem of using a completely inadequate base-layer technology. “
Bitcoin’s transaction cost aka fees skyrocketed when the coin reached its all-time high in December 2017. The average transaction fee for Bitcoin reached a maximum of $55.
Moreover, XRP makes it easier to settle cross-border payments in a matter of seconds and also provides solutions to various remittance problems with Ripple’s blockchain solutions like xRapid, xVia, and xCurrent. With more than 200+ partnerships in over 40+ countries, Ripple and XRP are on a journey to become the world standard in payment and financial industry.
All the above-mentioned facts converge leads to a single conclusion, which is, XRP is getting more decentralized while other PoW cryptocurrencies are trying to catch up with XRP. It is only a matter of time that XRP becomes a widely accepted form of payment, overtaking Bitcoin even with its first-mover advantage.
The post XRP gets more decentralized as Proof-of-Work-based cryptocurrencies face extinction appeared first on AMBCrypto.
Source: AMB Crypto

Ripple Price Analysis: XRP Accumulation, Bull Pressure Building Up

Ripple prices stable above 30 cents
SWIFT—Ripple competition should heat up in coming days
Transactional volumes low and dropping

XRP success depends on adoption. That’s why an increase in xRapid users is bullish for investors. Even still, the slide of XRP prices have been deflating, and after 12 months of lower lows, we expect Sep 2018 to guide medium to long term price trajectory.
Ripple Price Analysis
Fundamentals
As long as SWIFT dominates, we expect determined competitors to step up their marketing, pitch to potential clients—mostly in areas where most are unbanked and without access to financial services. Such has been the effort of Ripple.
With three main products—xCurrent, xVia, and xRapid, we can conclusively say they have been largely successful. However, they still have a long way to go. As a ledger that caters explicitly for financial institutions, the only way average investors will reap benefits is when majority banks incorporate Ripple’s technologies and adopt xRapid.
The latter is a solution that guarantees speed, efficiency and cost saving made possible because it uses XRP as a liquidity tool. Thus far, 13 companies are benefiting from xRapid, but 13 is a mere drop in a cross border global payment system estimated to move $2 trillion by 2020. Should Ripple win over clients and there is regulatory clarity around XRP and xRapid, we expect demand to surge, lifting prices with it.
Candlestick Arrangements

At the time of press, XRP was up 1.2 percent from yesterday’s close, exchanging hands at around 32 cents against the USD. Considering yesterday’s price sinks, this is positive and cements our previous assertions.
However, conservative as well as aggressive traders ought to be on the sidelines until after our trading conditions are valid. Because we are net bullish with guidance from Sep 2018 surges, a safe approach is to wait until clear price swings are driving XRP above 34 cents.
A simple Fibonacci retracement between Dec 2018 high low places this buy trigger line at the 50 percent level. That’s above Jan 20 highs meaning for the first wave of higher highs to hold then buyers must reverse yesterday’s losses preferably at the back of above average trade volumes—above 24 million.
After that, the foundation for further gains towards 40 cents would be firm and conservative traders would be anticipating possible rallies towards Dec 2018 highs of 60 cents.
Technical Indicators
From a conservative approach, traders and investors would be tracking XRP buyers’ ability to reverse yesterdays and Jan 10 losses. With volumes of 83 million against 30 million averages, a bull buildup is necessary. To reiterate our stand, any volume surge driving prices above 34 cents (or below 30 cents) should exceed 24 million and ideally 83 million confirming demand or supply depending on breakout direction.
The post Ripple Price Analysis: XRP Accumulation, Bull Pressure Building Up appeared first on NewsBTC.
Source: New feedNewsBTC.com