Ripple CEO Says “U.S Dollar Works Well”, Calls Libra’s Idea “Arrogant”

Ripple CEO, Brad Garlinghouse during an interview on CNBC Squawk Box Tuesday, opened up on Facebook Libra during a discussion focusing on Libra’s effect on the crypto world.
Brad, in his statement about Facebook, Libra and how Facebook dealt with the idea of its proposed cryptocurrency, said that Facebook was arrogant about how it presented the idea of Libra, which presumably was why the idea (Libra) met with a dead end.
The Ripple Boss, in fact, continued by ascertaining that the United States needed no other fiat currencies and that the U.S Dollars works pretty well.
The discussion focused on how Libra has affected the cryptocurrency world since it was unveiled by Facebook in June. Truly, Libra met with stiff oppositions which provided enough resistance to stop it from being developed.
In a quarterly report released by Facebook recently, the giant social media platform had pronounced Libra “uncertain” and this has raised many concerns within the crypto industry which were probably one of the reasons why Brad was interviewed by CNBC.
According to Brad,
“I think they are taking a very bold ambitious effort. I think it’s a little bit more than just ambitious but arrogant to take the approach of ” we are gonna build a new…currency.” I think the U.S. dollar works pretty well. We don’t need a new fiat currency”
Brad spotted a few concerns about why Libra couldn’t pass the regulatory test. Among those was the fact that, of the 28 founding members of the Libra Association, no banks or similar institutions to give the project more legitimacy. This was viewed from the perspective that banks work relative to government regulations and somewhat represents the interests of the people in the process.
Therefore, bringing in one or two of well-known banks and bigger financial institutions would immediately raise Libra’s reputation and paint a picture of an institution which not only follows regulations but also works based on existing financial policies.
However, Facebook was said to have been in talks with such well-known banks but a major stumbling block remains how to get these set of investments to join the Libra Association.
The post Ripple CEO Says “U.S Dollar Works Well”, Calls Libra’s Idea “Arrogant” appeared first on Coingape.
Source: CoinGape

Brad Garlinghouse Doubts the Effects of Facebook’s Libra

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Brad Garlinghouse Doubts the Effects of Facebook’s Libra
Recently, Brad Garlinghouse, the CEO of Ripple, has commented on Facebook’s new cryptocurrency – Libra, saying that because of it, the crypto industry might become subject to stricter regulations.
Brad Garlinghouse Doubts the Effects of Facebook’s Libra

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Source: CoinSpeaker

XRPTipBot links up with Canada’s CoinField to bolster XRP token adoption

The Ripple ecosystem has made giant leaps over the past year, something possible by the efforts of a contingent of developers. The Brad Garlinghouse-led firm’s XRP Ledger, according to an official note, has closed over 48 million ledgers and confirmed more than 900 million transactions. Additionally, XRPL has opened over 1.5 million accounts in its […]
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Source: AMB Crypto

Ripple’s Brad Garlinghouse “very much agrees” with President Donald Trump’s views on Libra, Bitcoin

Concerns relating to the cryptocurrency space have found a new dimension. Trump’s Twitter rant on the same while being highly criticized, also raised the profile of the cryptocurrency market. Ripple’s Brad Garlinghouse however, agrees with it. The Ripple CEO made news after he sided with Secretary Mnuchin, the Treasury Secretary who was critical of potential […]
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Source: AMB Crypto

XRP Vs. Libra: Ripple’s CEO Speaks on FB Announcement and Bitcoin’s Utility

The current week one of the most critical weeks for crypto of not only this year but also in its history. It is primarily because of Facebook’s cryptocurrency Whitepaper release. Bitcoin also headed closer to $10000, which, some analyst believe will begin the real FOMO in Bitcoin [BTC].
Ripple Vs Libra Association
Nevertheless, Facebook’s whitepaper release was individually considered bad news for Ripple, XRP, and the Banks as it aimed to replace the system with one of their own. However, the CEO of Ripple, Brad Garlinghouse, feels otherwise. He told in an interview,
“This week will probably be the best week of signed contracts at Ripple ever. Banks release that if Facebook is going to be a competitor in this space. They can’t compete with SWIFT.” He added, “This has been a call to action.”
Ripple and MoneyGram established a crucial strategic partnership this week. He mentioned that a couple of banks who were earlier delaying the integration with Ripple are now actively reaching out to Ripple. Moreover, he hinted at a probable partnership with Western Union as well.
MoneyGram stock price shot up by more than 150% as the news broke out. Interesting, XRP was rather unmoved by the announcement. Also, Facebook’s stock price has been on the rise since the beginning of the week. Garlinghouse suggested that “Blockchain is kind of an expensive database” and its efficient implementation is essential. Moreover, he said that there is a lot of hoax, misinformation, and speculation around the space.
On the hysteria brought on in the market, he said,
“Facebook did not launch a cryptocurrency. Facebook wrote a whitepaper about their intent and their plans that a year from now we’re gonna a cryptocurrency called Libra… MoneyGram deal was a bigger deal for the crypto-market.”
The utility of XRP and Bitcoin
While Brad elaborated on the competition between Libra and XRP, he agreed with David Marcus on Bitcoin’s utility. Both heads of centralized solution providers for financial institutions insisted this week that Bitcoin is a store of value. It is different from the ‘medium of exchange’ that they are trying to build with Libra and XRP, respectively. He said,
“I hold Bitcoin and I’m long Bitcoin. I think Bitcoin is a store of value so people hold it. XRP will be the bridge currency.”
However, Mati Greenspan was rather shocked at the statement, he tweeted,

For those of you replying with “he’s always been long bitcoin.” Here are two reminders that he hasn’t. Don’t get me wrong, I’m very glad he’s turned around. Also, sorry for not noticing sooner. 😀👍

With Ripple’s xRapid, the banks can facilitate cross-border transactions without pre-funding those specific currencies. He mentioned there is $10 trillion just sitting in banks to facilitate cross-border transactions, whereas xRapid performs the same without any collateral.
Furthermore, Ripple has always aimed at providing regulatory compliant products. He said, “There are zero transactions enabled by Ripple that aren’t KYC’ed.”
Do you think that the banks will be able to compete Libra by using the technology? Please share your views with us. 
The post XRP Vs. Libra: Ripple’s CEO Speaks on FB Announcement and Bitcoin’s Utility appeared first on Coingape.
Source: CoinGape

Is Ripple Strong Enough to Compete Against Facebook’s Libra?

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Is Ripple Strong Enough to Compete Against Facebook’s Libra?
Ripple’s Garlinghouse told Fortune’s Brainstorm Finance conference that the entry of Facebook’s Libra into the crypto scene does not worry him since it is a boon for the general crypto market, and XRP in particular.
Is Ripple Strong Enough to Compete Against Facebook’s Libra?

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Source: CoinSpeaker

SCB Thailand Launches Ripple Transfer Service, Is XRP Adoption on the Way?

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SCB Thailand Launches Ripple Transfer Service, Is XRP Adoption on the Way?
SCB Thailand bank was noticed to use Ripple service for transferring money. The bank acknowledged that and asked to wait for further announcements.
SCB Thailand Launches Ripple Transfer Service, Is XRP Adoption on the Way?

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Source: CoinSpeaker

Ripple: Cryptocurrencies can reduce friction in global commerce, claims CEO Brad Garlinghouse

Given the constant disregard for cryptocurrency and blockchain by financial institutions, prominent crypto-leaders have personally been preaching the technology for furthering global adoption. One such figure is Ripple’s CEO, Brad Garlinghouse.
Ripple’s Garlinghouse has always made an effort to minimize the common man’s speculation around tokens. Recently, he made headlines for sharing similar views on Recode Decode, where he said,
“You went from illicit activity to speculation, and today you’re going from speculation to utility.”
While exhibiting his support for cryptocurrency adoption, Garlinghouse made it clear to viewers that he did not expect banks and governments to “be obliterated by the new technology”. He also shared his vision for the future, stating that the system can be changed only by working with the system.
The Vox interview also touched upon Garlinghouse’s claim that crypto-adoption would result in the direct reduction of friction in global markets. He said,
“These are profound technologies that can really benefit society in lots of ways. We can reduce the friction of global commerce, we can allow people globally more access to the economies around the world to compete. I think that’s actually a really good thing.”
He further argued that different currencies, including fiat and crypto, could find specialized use-cases for different things. Along the same lines, he also supported Bitcoin [BTC] investments alongside developments in the XRP ecosystem, as he believed that both work best owing to their unique use-cases. The interview finally ended with Garlinghouse mentioning this on a cautious note:
“Focus on the substance, not the hype. It’s going to impact lots of parts of lots of industries in the same way the internet impacted lots of industries.”
The post Ripple: Cryptocurrencies can reduce friction in global commerce, claims CEO Brad Garlinghouse appeared first on AMBCrypto.
Source: AMB Crypto

Banks Love Ripple (XRP), Will Demand Drive Prices to 80 Cents

Ripple (XRP) up 27.3 percent
Brad Garlinghouse says Ripple ready to work with banks and regulators

In an interview with Recode Decode podcast, Brad Garlinghouse once again reiterated their will of working with regulators and not against them. Meanwhile, prices are stable with XRP trading below Q1 2019 lows.
Ripple Price Analysis
Fundamentals
By design, Ripple Inc solutions are meant to meet the demands of Banks and financial institutions. That is a goal Brad Garlinghouse is working towards achieving. Although there are regulatory challenges, especially on the interpretation of whether Ripple (XRP) is a security or a utility, supporters are of the view that the asset is a utility.
However, the silence of the US SEC is deafening despite other jurisdictions allowing firms to roll out XRP derivatives. In an interview with Recode Decode podcast with Kara Swisher, Brad Garlinghouse expressed his deep desire of working with regulators and banks.
“I don’t think banks […] governments will go away. Banks are applying a very important regulatory framework that I actually think is important for society. I personally believe that banks will continue to serve that role; they’re good at it […] I think this is a new set of technologies that they can benefit from to grow their business.”
Adding that,
“99 percent of banks love what we’re doing because we’re democratizing something that’s controlled by a small number of banks, their competitors.”
Candlestick Arrangement

At the time of press, Ripple (XRP) is up 27.3 percent from last week’s close but down 2.7 percent in the previous day. All the same, the trend is up and at a vantage point are bulls aiming for 40 cents and higher in days ahead.
Guiding our stance are fundamentals in the last few weeks. Aside from Garlinghouse comments, adoption is picking up, and it’s only a matter of time before banks connected with the RippleNet upgrade to xCurrent version 4. That will push demand.
Once prices break above Q1 2019 highs, as bulls snap back to trend after late last week’s correction of May 15th and 16th overvaluation, odds are XRP will rally to our first targets of 60 cents in a trend continuation phase confirming demand of Sep 2018. Meanwhile, risk-off, aggressive traders can load up on dips with tight stops at around 34-36 cents.
Technical Indicator
Momentum is building up, and our reference bar is May 14th bull bar. It is wide-ranging with high volumes of 187 million. Any break above May 15th high ought to be with high transaction volumes above recent averages of 68 million and ideally, above 187 million.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Source: New feedNewsBTC.com

Banks Love Ripple (XRP), Demand Could Drive Prices $0.80

Ripple (XRP) up 27.3 percent
Brad Garlinghouse says Ripple ready to work with banks and regulators

In an interview with Recode Decode podcast, Brad Garlinghouse once again reiterated their will of working with regulators and not against them. Meanwhile, prices are stable with XRP trading below Q1 2019 lows.
Ripple Price Analysis
Fundamentals
By design, Ripple Inc solutions are meant to meet the demands of Banks and financial institutions. That is a goal Brad Garlinghouse is working towards achieving. Although there are regulatory challenges, especially on the interpretation of whether Ripple (XRP) is a security or a utility, supporters are of the view that the asset is a utility.
However, the silence of the US SEC is deafening despite other jurisdictions allowing firms to roll out XRP derivatives. In an interview with Recode Decode podcast with Kara Swisher, Brad Garlinghouse expressed his deep desire of working with regulators and banks.
“I don’t think banks […] governments will go away. Banks are applying a very important regulatory framework that I actually think is important for society. I personally believe that banks will continue to serve that role; they’re good at it […] I think this is a new set of technologies that they can benefit from to grow their business.”
Adding that,
“99 percent of banks love what we’re doing because we’re democratizing something that’s controlled by a small number of banks, their competitors.”
Candlestick Arrangement

At the time of press, Ripple (XRP) is up 27.3 percent from last week’s close but down 2.7 percent in the previous day. All the same, the trend is up and at a vantage point are bulls aiming for 40 cents and higher in days ahead.
Guiding our stance are fundamentals in the last few weeks. Aside from Garlinghouse comments, adoption is picking up, and it’s only a matter of time before banks connected with the RippleNet upgrade to xCurrent version 4. That will push demand.
Once prices break above Q1 2019 highs, as bulls snap back to trend after late last week’s correction of May 15th and 16th overvaluation, odds are XRP will rally to our first targets of 60 cents in a trend continuation phase confirming demand of Sep 2018. Meanwhile, risk-off, aggressive traders can load up on dips with tight stops at around 34-36 cents.
Technical Indicator
Momentum is building up, and our reference bar is May 14th bull bar. It is wide-ranging with high volumes of 187 million. Any break above May 15th high ought to be with high transaction volumes above recent averages of 68 million and ideally, above 187 million.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Source: New feedNewsBTC.com

Ripple Pushes Its XRP-Powered xRapid Solution to Argentina and Brazil

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Ripple Pushes Its XRP-Powered xRapid Solution to Argentina and Brazil
Ripple’s xRapid, cross-border payment solution powered by XRP, forays into the new markets: Brazil and Argentina are now in its list.
Ripple Pushes Its XRP-Powered xRapid Solution to Argentina and Brazil

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Source: CoinSpeaker

Ripple (XRP) Soar, Up 44.2 Percent and $7 Billion Away from Flipping ETH

Ripple (XRP) rally, add 44.2 percent
An Ethereum (ETH)—Ripple (XRP) flip could happen in days

After a six-month consolidation, the stage is ready for Ripple (XRP). Up 44.2 percent at the time of press, XRP is closing in on Ethereum (ETH) and could flip the asset if there is a ballpark 25 percent price increment. At this pace, bulls should set their targets at 80 cents and even $1.40.
Ripple Price Analysis
Fundamentals
Before May-14, Ripple (XRP) performance had been lackluster. Underperforming Bitcoin (BTC) and other top-10 liquid assets, observers said the XRP was decoupling to the delight of Brad Garlinghouse, the CEO of Ripple Inc. In his view, the final decoupling from Bitcoin would be mainly because of the “investor rationale.” That will be when investors would appreciate what each project brings to the table. While talking to CNBC, the crypto leader said:
“There’s a very high correlation between the price of XRP and the price of Bitcoin, but ultimately these are independent open-sourced technologies. It’s early, over time you’ll see a more rational market and behaviors that reflect that.”
He further adds that most crypto assets will “disappear” in a decade because the sphere “is still a nascent industry, the speculation in the market dominates the trading activity. I think it’s a matter of time until people better understand the different use cases.”
However, with CoinBase Pro decision to support XRP trading in the stringent, compliance demanding state of New York is a big boost for the asset. To some extent, it does clear XRP of the “security” tag, allowing for unbridled investment in the world’s third most liquid asset.
Candlestick Arrangement

 
At spot rates, XRP is trading above 40 cents with a market cap of $18,076million,up 44.2 percent in the last week and closing on the ETH gap. Besides the injection of buy pressure, what’s worth noting is that prices are now trading above two critical resistance levels at the back of high participation levels.
Because of this sharp spike, all our XRP/USD trade conditions are right. As a result, the best course of action is to fine-tune entries in smaller time frames with the first modest target at 60 cents and later 80 cents.
On the flip side, in case there is a correction, ideal buy zones will be anywhere between 35 cents and 40 cents in a retest trade.
Technical Indicators
Since Sep 2018 bulls are back—analysis from an effort versus result point of view, supportive of buyers as prices are still consolidating inside Sep 2018 high low. Anchoring our trade is May-14 wide-ranging, bull bar with 187 million against 35 million. In a trend continuation, we expect XRP to close higher with equally high volumes ideally above 100 million.
Chart courtesy of Trading View
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Source: New feedNewsBTC.com

Multibillion Banking Giant SABB Launches Cross-Border Transfers with Ripple’s XRP

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Multibillion Banking Giant SABB Launches Cross-Border Transfers with Ripple’s XRP
SABB notes that the instant cross-border payment service powered by the Ripple blockchain network will help to bring digital transformation and better customer experience.
Multibillion Banking Giant SABB Launches Cross-Border Transfers with Ripple’s XRP

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Source: CoinSpeaker

Ripple joins International Association for Trusted Blockchain Applications as founding member

Ripple, the cross-border payments giant spearheaded by the San Francisco-based technology company Ripple Labs, is set to have a say in Europe’s blockchain aspirations. The International Association for Trusted Blockchain Applications [INATBA], has announced that Ripple will be included as a founding member of its organization.
The INATBA is a body of small and medium enterprises [SMEs], policy-makers, regulators and civil-standard setting organizations that have joined forces to build effective regulation within the blockchain and cryptocurrency industries. It allows notable voices in the virtual currency field to effectively communicate with each other and further adoption, both at the corporate level and at the sovereign level.
Brad Garlinghouse, the CEO of Ripple called the inclusion an “honor,” and a “privilege,” adding that regulators, governments, and the cryptocurrency industry must come together for effective financial governance. He stated,
“This really is a pivotal time for the distributed ledger technology industry. It’s critical that as an industry we come together and engage with regulators and governments globally. The work we are seeing with the European Commission is pivotal and can be leading in this effort. We’re thrilled to be involved and look forward to being a leading participant.”
Formed by the European Union in November 2018, initial members of the INATBA included ConsenSys, IOTA, UniBright, RoyaltyRange and STOKR, among others. Since then, new members such as Ledger, R3, IBM Belgium, Guard Time, Swift, Barclays, BBVA, Accenture and the Cardano Foundation have joined the association. In fact, the Cardano Foundation’s addition contributed to ADA’ recent price surge.
Further, IOTA’s Director of Social Impact and Public Regulatory Affairs, Julie Maupin, will serve as a board member of the association.
The key focus areas spelled out by the European Commission include, allowing dialogue with regulators, promoting a transparent and inclusive model of blockchain governance, creating global and sector-specific guidelines for DLT applications, and developing standards for interoperability among participants.
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Source: AMB Crypto

Ripple-Powered XRPL Labs Set to Launch New XRP Payments App

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Ripple-Powered XRPL Labs Set to Launch New XRP Payments App
XRPL Labs, a startup backed by Ripple, wants to make the process of accepting XRP easier for merchants as a mainstream option. The company has designed a payments app that will act as the transition that they need as a point-of-sale system.
Ripple-Powered XRPL Labs Set to Launch New XRP Payments App

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Source: CoinSpeaker