Ripple Price Analysis: XRP Sighting Bullish Break Above $0.3200

Ripple price struggled to break the $0.3200 resistance level and corrected lower against the US dollar.
The price declined below the $0.3150 level and tested the $0.3125 support area.
There is a key bullish trend line formed with support at $0.3145 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair must clear the $0.3180 and $0.3200 resistance levels to start a solid bullish wave towards $0.3300.

Ripple price is trading key supports against the US Dollar and bitcoin. XRP/USD must clear the $0.3200 resistance area to kick start a fresh bullish wave towards $0.3280 and $0.3300.
Ripple Price Analysis
This past week, we saw a nice rebound in ripple price from the $0.3000 support against the US Dollar. The XRP/USD pair traded above the $0.3120 and $0.3150 resistance levels. There was also a close above the $0.3120 level and the 100 hourly simple moving average. Finally, there was a spike towards the $0.3250 level before the price started a downside correction. It traded below the $0.3200 and $0.3180 levels. However, the $0.3125 support and the 100 hourly SMA acted as a decent barrier for sellers.
A low was formed at $0.3128 and later the price corrected higher. It moved above the $0.3140 level and the 50% Fib retracement level of the recent drop from the $0.3201 high to $0.3128 low. However, the upside move was capped by the $0.3180 resistance. It also represents the 61.8% Fib retracement level of the recent drop from the $0.3201 high to $0.3128 low. Should ripple break the $0.3180 resistance, it may struggle to clear the $0.3200 resistance. Finally, if there is an upside break above $0.3200, the price may rally towards $0.3300.
On the downside, there are many supports above $0.3125. There is also a key bullish trend line in place with support at $0.3145 on the hourly chart of the XRP/USD pair. If there is a downside wave, the trend line support and 100 hourly SMA may hold losses near $0.3140. If there is a break below the $0.3128 swing low, the price could move back in the bearish zone.

Looking at the chart, ripple price is trading above key supports near $0.3140. As long as buyers are active above $0.3125, there are chances of more upsides. The main resistance is at $0.3200, above which the price is likely to climb towards $0.3300 or even $0.3320.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is currently placed nicely in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD tested the 60 level and it is currently correcting lower.
Major Support Levels – $0.3145, $0.3140 and $0.3125.
Major Resistance Levels – $0.3180, $0.3200 and $0.3250.
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Source: New feedNewsBTC.com

The 4 Cents Channel Stalling Ripple (XRP) Advancement

Ripple price stable and ranging
Partnership with Forte is beneficial for XRP because of ILP integration
Transaction volumes up averaging 25 million

Even with CoinBase listing and plans of venturing into the multi-billion gaming industry via Forte, Ripple (XRP) prices are flat. Nevertheless, our XRP/USD is bullish, and with springs from 30 cents, XRP could rally above 34 cents and 40 cents.
Ripple Price Analysis
Fundamentals
Ripple (XRP) performance has been dismissal and lagging in the last few days. On the one hand, there are expectations that prices will head higher once Bitcoin recover. But it is this correlation that Brad Garlinghouse seeks to break. Even so, the influence of Bitcoin cannot be understated. It is one of the most capitalized coins, has the endorsement of the SEC as an independent coin and most importantly, it is one of the most widely known crypto assets.
Late Dec and after pressure from the XRP Army, Changpeng Zhao made XRP base at Binance. Regardless, the flat-lining price movement and dropping demand despite listing at CoinBase is a source of concern for traders as well as investors.
As a result, trackers are focusing more on fundamentals. By partnering with Forte and shifting gears to gaming, it is likely that the demand for the third most valuable asset will increase after launch.
Candlestick Arrangements

Overly, we are optimistic expecting prices of XRP to print higher in days ahead. However, pouring cold water on that are ranging prices and the lack of activity in the last few months. When CoinBase announced their support, we expected prices to rally, but that wasn’t the case. After that, prices dropped as volumes dried.
What we have now are small price movements with floors at 30 cents and ceilings at 34 cents. Because the former is our buy trigger flashing with the 61.8 percent Fibonacci retracement of Dec 2018, traders must be patient. At the back of this is the knowledge that the longer the accumulation and BB squeeze, the stronger the breakout.
That may trigger the much-anticipated rally that could drive prices above 40 cents and later 60 cents as XRP breaks off this 4 cents accumulation. If not and prices drop below 30 cents, then our XRP/USD trade plan would be null and void. In that eventuality, XRP could meltdown to 25 cents.
Technical Indicators
Participation level is low averaging 25 million. Because our triggers are at 34 cents and 30 cents, any break above these levels must be affirmed by high transaction levels exceeding 25 million or ideally 61 million of Feb 24.
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Source: New feedNewsBTC.com

Ripple/XRP: David Schwartz on regulatory uncertainty hanging over XRP, Ripple

There have been a lot of wars fought on Twitter on the nature of XRP and Ripple’s relationship with the cryptocurrency, with tonnes of articles speculating what XRP is. David Schwartz, the CTO of Ripple, put the speculation to rest in his recent interview at the SXSW Conference.
The CTO clarified that Jed McCaleb, Chris Larsen, and a couple of other people got together and created the XRP ledger. Subsequently, the developers gifted some of the 100 billion XRP created to themselves, and the company Ripple, which are both independent of each other.
He also added that holding XRP did not mean that the person held a stake in the company, Ripple. Schwartz continued by saying that security laws aren’t fully clear as to what rules have to be applied to the nascent technology. He also added,
“Security law has not changed with respect to blockchain technology… the SEC recently has talked about how they are going to think about how these tokens meet security laws. But they haven’t given a black and white test. They’ve given a test but it’s filled with vague terms.”
Additionally, Schwartz said that they were confident and “pretty comfortable” that XRP was not a security, and that it would ultimately be the SEC and the courts that’ll decide whether XRP was a security or not.
He further commented that the biggest hindrance to development in the crypto ecosystem were regulation/laws. Schwartz explained that Ripple and other companies in the space were lobbying regulators about the same.
John Bev, a YouTube user, commented,
“XRP should be used by Men/Women in the Military, who are stationed overseas, to send money back quickly to support their loved ones. We should pay homage for creating ARAPNET, now INTERNET, and allow them to use XRP!”
The post Ripple/XRP: David Schwartz on regulatory uncertainty hanging over XRP, Ripple appeared first on AMBCrypto.
Source: AMB Crypto

Ripples’ CTO’s Take on XRP is a security and it’s Secret Sauce

Ripple’s CTO, David Schwartz took a public stand at the “Blockchain Beyond the Hype: The Ripple Effect” session at SXSW on 14 March 2019. The Chief Technical Officer of Ripple is blockchain enthusiast but at the same time a humble innovator.
According to Schwartz, “the internet was a powerful force for good in democratizing the flow of information and today control of the flow of funds” is used in the same way it was before the internet. Hence, there is a lot of space for growth in it.
He was “very optimistic with the technology,” nevertheless, accepted the fact that Ripple’s use case is currently focused only on enabling international payments.
How Is Ripple Different Than Bitcoin and SWIFT
According to Schwartz, Jed McCaleb’s idea of finding an alternative to Proof of Work (PoW) for avoiding double spent was the ‘secret sauce’ for Ripple. He envisioned establishing a new open ledger on Blockchain that would be more efficient than Bitcoin and could integrate with the existing financial system.
Schwartz made interesting comparisons of the current payment system provided by SWIFT with the RippleNet. With the SWIFT payment network the path of the transfer of funds cannot be determined, and so fees of sending transactions are high and variable. He cited that RippleNet and SWIFT Networks are fundamentally different.
According to him, Ripple is building the foundation of a “payment system” which connects the banks together. While xRapid with XRP will be used as a settlement layer on top of the system.
He also cited that Paypal and Venmo are examples of “democratic payment systems, but they don’t interoperate.” Hence, they currently providing the database to banks and other financial institutions to make use of the payment system; the actual transfer of funds can occur at a later time.
On the success of the network he said “200 plus financial institutions have signed with us” and they see an “evolution to able to sell softwares to bank, bring traffic on our network, settle with a digital asset and growing the whole cryptocurrency through efforts like Forte and Xspring”
On Decentralization and XRP as a Security
Schwartz noted that an authentic decentralization “comes down to what determines the rules of the system” and if there is a central party “that coerces any other party” the system is not decentralized. The transactions that take place between two people must be automated, like on the Blockchain.
He also noted that the XRP ledger was formed before Ripple’s inception.
“XRP originated when Arthur Britto, myself, Jed McCaleb, and Chris Larsen built the XRP ledger back in 2011, 2012. The original founders who built that system gifted a bunch of XRP to Ripple to have the company work and build an ecosystem around it.”
There are numerous banks on the RippleNet. The interoperability and transparency provided by Ripple would help the banks retain their customers; As they continue to offer their profit-making products like loans and insurance. Also, the value on the ledger is retained permanently irrespective of the specific bank, hence, provides credit protections.
Moreover, he said that “We’re outside of those payment flows like RippleNet and xRapid, we’ve just built the base….” Hence, until SEC designs a “black and white test.. we’re pretty comfortable that XRP isn’t a security.”
How will Ripple monetize their Efforts?
As a humble innovator, he noted that since the network works on its own, Ripple is currently not charging any transaction fees. Moreover, he noted as the technology is still in its early phases their primary concern now is building an efficient payment system for the world like Twitter and Facebook in the beginning. He is confident that if “Demand is there”, they would find a lot of avenues for monetization for Ripple.
The post Ripples’ CTO’s Take on XRP is a security and it’s Secret Sauce appeared first on Coingape.
Source: CoinGape

Will Ripple (XRP) Close Above 40 Cents? Momentum Building

Ripple price ranging but bullish
Financial sanctions help drive assets demand
Participation levels drop, averages drop from 30 million to 16 million in three weeks.

Trump’s plan of imposing financial sanctions on Maduro and other Venezuela elites could backfire affecting ordinary citizens. However, it justifies the need of shifting to a decentralized ledger that is global and resistant to local politics. Ripple’s XRP ledger is one of them.
Ripple Price Analysis
Fundamentals
The only way of heaping pressure on President Maduro and his cronies is if there are stiff financial measures that will help dry his taps. In a presidential crisis that has brought much suffering to Venezuelans, the Trump Administration is considering imposing sanctions on Venezuela.
As a result, Visa, MasterCard, and other US companies won’t process transactions in Venezuela tightening the noose on the government’s finances. These financial sanctions are aimed at influential Maduro supporters and are fashioned similarly to those imposed on Iran and Syria according to a breakdown from a senior official conversant with Trump’s plans.
“The purpose of these sanctions is to continue to deprive the illegitimate Maduro regime of access to funds and deny their ability to continue stealing from the Venezuelan people. These sanctions block state-owned financial institutions’ access to the international financial system, including credit card providers as well as SWIFT, the Belgium-based financial messaging service.”
The US is leveraging on the existing financial oligopoly to impose sanctions which often hurt the commoner. Even if these sanctions target the elite, they are wealthy enough to by-pass them. The move, if it comes to fruition, highlights the need of shifting to a global ledger immune to local politics.
Candlestick Arrangement

Even with increasing demand, Ripple (XRP) prices are ranging and inside a 4 cents zone. Like we have mentioned before, we expect a strong breakout now that prices have been oscillating within the 30 cents—34 cents region. Since buyers are in charge and 30 cents is stable support, the only time traders can begin loading up is once there is a definite close above 34 cents. Accompanying this break should be high transaction volumes forming the base of our spring towards 60 cents—Nov 2018 highs.
Technical Indicators
After Feb 24, Ripple (XRP) volumes dropped. By Mar 15 close, average volumes stood at 16.1 million. This pales in comparison with 30 million averages of Feb 24. It is likely that flat-lining asset prices discouraged participation. Nonetheless, we are bullish, and any rally above 34 cents must have high transaction volumes exceeding 65 million.
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Source: New feedNewsBTC.com

XRP/USD Price Analysis: Cryptocurrency enjoys short-term bull run as bears look for prey

On 16 March, the cryptocurrency market witnessed a surge in prices with several top coins riding the bull. Bitcoin [BTC], Ethereum [ETH] and XRP enjoyed a significant increase in prices, with Bitcoin even breaking the $4,000 barrier. XRP, which had been stuck in a sideways rut for a long time, broke the mold with the price hike.
1-hour
Source: TradingView
The one-hour chart of XRP showed an uptrend corresponding to the price hike. In the short term, the price rose from $0.317 to $0.328, as the support held at $0.313. The short-term resistance was at $0.328.
The Parabolic SAR was below the price candles and signified a bullish run for the coin.
The Relative Strength Index spiked above the overbought zone, a sign of the buying pressure being much higher than the selling pressure.
The MACD indicator diverged above the histogram after a bullish crossover. The MACD histogram was also bullish.
1-day
Source: TradingView
XRP’s one-day graph painted a picture which is opposite to that of the one-hour graph as the downtrend lowered the price from $0.522 to $0.325. The long-term support was at $0.257.
The Bollinger bands moved in a constricted fashion due to the coin’s sideways price movement over the past month. There was also a severe lack of significant Bollinger clouds.
The Chaikin Money Flow was below the zero-line and indicated that the capital leaving the market was more than the capital coming into the market.
The Awesome Oscillator indicator was almost zero due to the lack of market momentum in the XRP market.
Conclusion
The above-mentioned indicators predicted that XRP would enjoy a bull run in the short-term, however, the bears are in power on the long-term chart.
The post XRP/USD Price Analysis: Cryptocurrency enjoys short-term bull run as bears look for prey appeared first on AMBCrypto.
Source: AMB Crypto

XRP’s price could be tied to success of Ripple and Forte projects, says Ripple’s David Schwartz

Despite the XRP community’s anxious wait, the price of XRP did not seem to be going anywhere, but sideways. Ripple’s CTO, David Schwartz, spoke about how the success of companies and projects played a major role in the pricing of cryptocurrencies.
Schwartz said that there were a lot of factors that fuel price change of a cryptocurrency, including the success of the company linked to the crypto. He said that “the prices are a metric of the success of the project,” among other things. The success of a company or the project would depend on the use case being developed, and the market for that product.
Moreover, Schwartz stressed on the trustworthy and secure nature of blockchains, and how they’ve developed over the years to run consistently without going down, an upgrade when compared to traditional systems.
Additionally, the CTO said that the price of XRP was not affected by Ripple’s developments, saying that this was “strange.” He explained that the market was unable to distinguish the attributes of certain projects, and that they were betting on the ecosystem as a whole.
Schwartz said he wanted XRP’s price to be linked not to the company Ripple, but to the ecosystem concerning XRP and Ripple. However, exchanges did have an effect on the prices of cryptos, he confirmed, calling it the “Coinbase Effect.”
Speaking about Ripple and XRP, David Schwartz said that the primary use case that Ripple was focusing on was international payments i.e., inter-currency payments. He added,
“There’s a huge explosion of innovation not just around the XRP ledger but the entire space and the biggest challenge is finding the use cases that fit the technology, and I’ll be honest, we haven’t done a good job at that.”
A YouTube user, GivingYouTruth commented,
“In the interview, David says if he knew the answer, he would be rich. David you are rich!!!!! You are Rich beyond our wildest dreams!”
Another YouTube user, E Deveney commented,
“I liked Corey, but David should definitely take a more visible role. He explains everything very well and instills confidence. We always think in a 1-2 year timeline, I’m thinking 5”
The post XRP’s price could be tied to success of Ripple and Forte projects, says Ripple’s David Schwartz appeared first on AMBCrypto.
Source: AMB Crypto

Ripple’s David Schwartz talks about how he fell in love with Bitcoin [BTC]

David Schwartz recently spoke at the SXSW Conference and covered all things cryptocurrencies, including Bitcoin [BTC], Ripple, and XRP. He also gave a rare insight into how he came to discover Bitcoin and how he was fascinated by its technology that paved way for decentralization.
The CTO of Ripple, David Schwartz, explained that he was working on cryptography for secure messaging and cloud storage for a few clients when he discovered Bitcoin.  He stated,
“When I first saw Bitcoin… it was love at first sight. I saw the technology and I thought, there is really something here. I wanted to learn everything I possibly could about it  “
Schwartz said that he encountered a problem with software performance and was offered bounties to solve them. Since Schwartz was fascinated by the technology, he explored the source code with an intention to solve the issues and claimed the bounties.
Schwartz added,
“I fell in love with Bitcoin because of the lack of need for a central operator or a central point of trust.”
Further, he said that Bitcoin’s idea was to disrupt the flow of cash/funds like the internet disrupted the flow of information. However, Bitcoin was yet to achieve it, he said.
Commenting on Bitcoin’s technology and Proof-of-Work, Schwartz said that people confused PoW as the “secret sauce” of Bitcoin. He added,
“The secret sauce of Bitcoin is that all of the stated information is public, the ledger is completely public, you can see every transaction, every balance… and that was the sort of decentralization magic and proof-of-work was just the way it solved the double spend problem.”
@XRPMr, a Twitter user, commented,
“Great job Sir! You deliver amazing knowledge without mixing it up in a word salad. We are all so lucky to have you. ”
Another Twitter user, @CidVicious 2, added,
“Yes in fact, if you could get a head shot of every person in there and record the whole session and paste in each slide you see from the presentation, that would be great. Thanks!”
The post Ripple’s David Schwartz talks about how he fell in love with Bitcoin [BTC] appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin’s [BTC] Positive Break-out: BCH, LTC, ETH, XRP and other Altcoins Commence the ‘Alt-season’?

Bitcoin which was moving sideways in a small range near $3900, finally broke the $4000 resistance gaining 3% on the daily. The sideways movement of the market in the past week had left the traders uncertain, regarding the direction of the next big move in the Bitcoin price. However, a break above the range might suggest that bulls have taken control.
The total altcoin market capitalization (excluding Bitcoin) has gained 4.5% on the daily. Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH) are leading the altcoin market gains. The total market capitalization of cryptocurrencies broke the $140 billion-mark first time in 2019.
Altcoin Market Cap Excluding Bitcoin
Bitcoin Cash (BCH) and Litecoin (LTC) Amongst Top Gainers
Bitcoin Cash, the hard fork of BTC, is the leading the altcoin gains with a 17% rise on the daily index. The price of Bitcoin on 16 March 7: 00 am UTC is $157 trading higher from $133.3 on March 15, 2019.
LTC/USD chart on Coinmarketcap
Litecoin (LTC) is also nearing double-digit gains on the 24-hour timeline. It has gained 9% since yesterday trading above the $60 resistance at $61.95. LTC fundamentals and technicals have predicted affirmative action on the cryptocurrency since February 2019.
Top Dapps Platforms
Ethereum, Tron and EOS, the platforms with the most abundant Dapps on their Blockchain also gained considerably taking a cue from the market sentiments.
While Ethereum recorded a rise of 6.3% on the daily, EOS And TRON gained 5.38 and 3.66% respectively. Cardana (ADA) also rose by 7% as it sets sight on entering the top 10 cryptocurrencies by market capitalization.
XLM Retains its Gains, While XRP breaks-out?
Ripple’s XRP and Stellar Lumens (XLM) the two leading platforms providing seamless cross-border transfer of value to existing financial institutions also contributed to the total gains. XLM which had gained 20% at the beginning of the week gained another 3.75% riding on market bullish market sentiments.
1-D XRP/BTC chart on Bittrex
XRP broke the $0.315 resistance and a small break out from the channel was observed on XRP. The RSI signal is between the oversold and overbought conditions, hence, perfectly balanced.
The positive action in the cryptocurrency market especially the altcoins suggest that the accumulation period in cryptocurrency might have begun.
Do you think the ‘altcoin’ season is back again? Please Share your views with us.
 Disclaimer: The above reflects the thought of the author, please use your own judgment before making any investments.
The post Bitcoin’s [BTC] Positive Break-out: BCH, LTC, ETH, XRP and other Altcoins Commence the ‘Alt-season’? appeared first on Coingape.
Source: CoinGape

Litecoin [LTC], Binance Coin [BNB] soar by over 100% since 2019 while Bitcoin [BTC], Ethereum [ETH] and XRP struggle

The dawn of 2019 saw major developments for many of the top cryptocurrencies in their respective areas. However, these had not always translated to price fluctuations.
The massive pump in altcoins caused some people in the crypto community to term it as the “altcoin season”. This seems to be true as altcoins are pumping, while mainstream coins like BTC, ETH, and XRP are struggling to stay afloat.
Binance Coin
Binance Coin is the top-performing coin in the top 10 cryptocurrencies list after seeing a massive pump of 170% since 2019. Considering the market at press time, the change in price was a massive 160%.
The community speculated that Binance Coin surged after the launch of Binance DEX. The coin continued to pump long after the announcement of DEX.
Litecoin
The silver to Bitcoin’s gold, and the fourth largest cryptocurrency performed better than its counterparts in 2019. The price of Litecoin saw an increase of 88.45% since the beginning of the year. However, if the peak of the prices were to be considered, the change would amount to 102.68%.
Litecoin adoption caught major traction in the crypto-verse after developers confirmed the implementation of privacy updates, including Taproot, MimbleWimble, and others.
Bitcoin
Bitcoin was struggling to see an increase in price, but couldn’t stay above the major resistance level at $4,000. YTD change in the price of Bitcoin amounted to a mere 7.59% before the price rallied on February 24, 2019. However, the prices fell and continued the sideways movement. Bitcoin hit a maximum price change of 13.05% due to a spike on February 24, 2019.
Ethereum 
Ethereum was doing slightly better than Bitcoin, as its price had gone up by 8.66% since 2019. The Constantinople update for Ethereum caused a stir in prices, but a major spike was seen on February 24, causing Ethereum’s maximum increase in price amounting to 28.59%.
XRP
The third largest cryptocurrency in the world performed worse than BTC and ETH. XRP’s price change in 2019 was -11.45%. The price of XRP, at press time, was lower than its 2019 opening price. Even when the collective market surged in February, XRP’s peak amounted to a change of only 0.24%.
The post Litecoin [LTC], Binance Coin [BNB] soar by over 100% since 2019 while Bitcoin [BTC], Ethereum [ETH] and XRP struggle appeared first on AMBCrypto.
Source: AMB Crypto

Ripple trading engine and crypto-economics flaunted by BeachHead executives

Ripple’s trading engine received a lot of appreciation from the BeachHead team in a recent video posted by BeachHead’s official account. The video gave a sneak peek into the mechanics of the game and how virtual currencies will play an important role in it.
BeachHead was first launched in 1983, which was a Shoot ’em up genre; however, the new version of the game is a VR game that is currently under development.
Pepe Moreno, Beach Head creator, elucidated that the game relies strongly on the crypto-economics as anything possible in the real world can be done in the game. He stated:
“Whatever is in the real world, from selling shoes to automobile, to entertaining people is in the game.”
Alexis Sirka, the CTO and blockchain economy director of Beach Head, stated:
“The Ripple Trading Engine will act like a matching engine which is distributed and trustless. Ripple Engine is the only distributed trading engine that is mature enough to be used. It has a settling time of only four seconds and is a perfect vehicle for trading.”
He added that Ripple trading engine was a perfect vehicle for the game as the trades would be matched and settled in under three to four seconds.
The video also touched upon how “any kind of economy could evolve” in the game and about how “it was the natural next step to use Ripple protocol” to trade various tokens in game.
Ripple’s CEO Brad Garlinghouse hinted at the games being developed on XRP Ledger during the Ethereal Panel at Davos. Garlinghouse said:
“I think this is one area where blockchain use is underhyped… it is incredibly interesting in terms of which underlying blockchain is most efficient… I think there’s a couple being built upon the XRP Ledger and I think it’s gonna be very interesting space to watch in 2019.”
@VRcryptocoins, a Twitter user, commented:
“Gaming Cryptocurrencies will be amongst the first waves of wide scale crypto adoption. You’ll either be on that wave or not. But there will be plenty more waves to catch.”
The post Ripple trading engine and crypto-economics flaunted by BeachHead executives appeared first on AMBCrypto.
Source: AMB Crypto

R3 adds Qatar’s Commercial Bank to Corda ecosystem for developing blockchain applications, solutions

Commercial Bank became the first bank in Qatar to join enterprise software firm R3’s Corda ecosystem. This collaboration will help the bank in developing innovative applications and solutions on the Corda network.
Corda Network is an ecosystem where corporations can transact privately using Corda applications, and since Corda is currency agnostic, corporations are free to use a digital asset of their choice. However, Corda currently supports only XRP.
Robin Marshall, the Chief Information Technology officer of Commercial Bank, said,
“We already know that blockchain technology has the potential to make transactions between banks frictionless and secure, but there are potentially other, huge benefits of this technology that we are not even aware of.”
Marshall also added that the bank collaborated with R3 to discover other benefits of blockchain technology and simultaneously improve customer experience, reduce friction between parties, and drastically cut down fees.
David Rutter, the CEO of R3, stated,
“Welcoming Commercial Bank as a partner is a great opportunity to fresh perspectives. We look forward to sharing expertise and input with Commercial Bank in future projects as we continue to explore the potential of the Corda platform…
We look forward to sharing expertise and input with Commercial Bank in future projects as we continue to explore the potential of the Corda platform.”
R3 is working with over 300 partners from across the world by providing them with faster, secure, and reliable payment methods using Corda applications on the Corda Network. Moreover, Corda Foundation was founded recently and is independent of R3. It will work towards encouraging the wider adoption of the Corda Network.
According to their official website, Corda partnered with almost 250+ organizations worldwide, including companies like Amazon Web Services [AWS], Citibank, HSBC, Huawei, Infosys, Capgemini, and Intel.
@ralf66557696, a Twitter user, commented,
“However, now that R3 has begun integrations with SWIFT, in the short term, banks will prefer to settle Corda payments in fiat currency, and not XRP.”
Another Twitter user, @XRP_OWL, replied,
“True but they will have the option to settle with xrp…it will be faster and cheaper. Word spreads fast, what do you think will happen once one or two banks settle with xrp and see true utility? Hint …Dominos”
The post R3 adds Qatar’s Commercial Bank to Corda ecosystem for developing blockchain applications, solutions appeared first on AMBCrypto.
Source: AMB Crypto

XRP Price Analysis: Bulls Lose the Momentum, XRP/USD Continues to Consolidate

CoinSpeaker
XRP Price Analysis: Bulls Lose the Momentum, XRP/USD Continues to Consolidate
In case the Bears prevail over the Bulls the XRP price will decline towards $0.30, break the level and face the $0.28 demand level. Otherwise, the XRP price may still rally to the north.
XRP Price Analysis: Bulls Lose the Momentum, XRP/USD Continues to Consolidate

Continue reading at Coinspeaker
Source: CoinSpeaker

Ripple Price Analysis: XRP Could Trade Lower As Recovery Falls Flat

Ripple price failed to hold gains above the $0.3120 and $0.3100 supports against the US dollar.
The price tested the $0.3060 support and it is currently trading near the $0.3100 pivot level.
There is a key contracting triangle in place with resistance at $0.3110 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could either dip sharply below $0.3060 or it may rise above the $0.3110 and $0.3120 resistances.

Ripple price trimmed its recent gains and declined against the US Dollar and bitcoin. XRP/USD might accelerate losses if it fails to break the $0.3120 resistance level in the near term.
Ripple Price Analysis
Yesterday, we saw a nice upward move in ripple price above the $0.3150 and $0.3200 resistances against the US Dollar. The XRP/USD pair even tested the $0.3250 level, but it failed to hold gains. As a result, there was a sharp decline below the $0.3200 and $0.3150 levels. The price even spiked below the $0.3120 support and the 100 hourly simple moving average. A swing low was formed at $0.3060 before the price corrected higher during BTC and Ethereum recovery.
The price moved above the $0.3080 level and tested the 23.6% Fib retracement level of the recent drop from the $0.3245 high to $0.3061 low. However, the price seems to be facing a strong resistance near the $0.3105 level and the 100 hourly SMA. Besides, there is a key contracting triangle in place with resistance at $0.3110 on the hourly chart of the XRP/USD pair. If the pair manages to climb above the $0.3110 and $0.3120 resistance levels, there could be a decent recovery.
The next resistance is near the $0.3150 level. It represents the 50% Fib retracement level of the recent drop from the $0.3245 high to $0.3061 low. On the other hand, if the price fails to move above the $0.3110 resistance, there may be a sharp dip. The $0.3060 support is crucial, below which the price might decline heavily. The next key supports are near $0.3040 and $0.3015.

Looking at the chart, ripple price is currently trading near a crucial juncture below the $0.3110 resistance. If buyers fail to gain strength, the price might start a nasty decline below $0.3060. In the short term, there could be range moves before the price either climbs above $0.3120 or revisits the $0.3060 support level.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly moving back into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is struggling to stay above the 50 level and moving lower with a bearish angle.
Major Support Levels – $0.3060, $0.3040 and $0.3015.
Major Resistance Levels – $0.3110, $0.3120 and $0.3150.
The post Ripple Price Analysis: XRP Could Trade Lower As Recovery Falls Flat appeared first on NewsBTC.
Source: New feedNewsBTC.com

R3: SIX is the most ambitious project, says R3 CEO David Rutter

David Rutter, the CEO of R3, said in an interview that SIX was the most ambitious project and elucidated how he won the contract for SIX Group’s proposed digital asset exchange.
SIX is a Swiss Stock Exchange and recently announced that it will be creating the world’s first XRP ETP called AXRP. In addition to XRP, SIX will be launching four more ETPs based on Bitcoin [BTC], Litecoin [LTC], Stellar Lumens [XLM], and EOS.
According to DigFin, a news media outlet, R3 has the contract to build a digital asset exchange for SIX. In an interview with DigFin, Rutter said:
“SIX is the most ambitious project we’ve seen… This is a new platform involving the end-to-end lifecycle of the trade.”
SIX announced that it would first list the digital native equities to the new exchange, with Corda handling primary issuance, secondary trading, and pre-trade and post-trade processing. This would be followed by bonds, funds, and structured products and tokenized securities.
Rutter added that supporting SIX was only possible because R3 went through the DTCC project. More specifically, DTCC is the Depository Trust & Clearing Corporation (DTCC) that virtually processes all securities transactions in the U.S.
Rutter stated:
““Had we not gone through the DTCC project, testing the limits of our throughput, we couldn’t have known whether we can support SIX’s ambitions.”
For DTCC to be successful, Corda needed to process approximately 600 transactions per second [TPS], but Rutter confirmed that Corda was geared up to handle 18,000 TPS.
The contract allows R3 to design the exchange, but Rutter confirmed that they would be designing the centralized matching engine, while the pre-trade and the post-trade workflows would be distributed.
@XRPoseidon, a Twitter user, commented:
“From my point of view this event is bigger than any ETF or Starbucks Bakkt whatsoever, because it’s not only about one cryptocurrency but about the tokenization of kind of assets and trading them side by side.”
@spence12341, another Twitter user, commented:
“And the #USA still Lagging behind , watching things fall apart , but #xrp has been resilient to the down trend , with a ton of good news every day , the price would have a profound effect to finance one day.”
The post R3: SIX is the most ambitious project, says R3 CEO David Rutter appeared first on AMBCrypto.
Source: AMB Crypto