Is Ripple (XRP) Undervalued After Fiat—ILP Interoperability Demo?

Ripple prices up 16.3 percent
InterLedger Protocol (ILP) is a game changer.

The team behind InterLedger Protocol (ILP) are not slowing down, and now that we have a fiat connector, it’s only a matter of time before the benefits of a real Internet of Value begins to permeate. With optimism around interoperability, we expect Ripple (XRP) prices to increase towards 80 cents.
Ripple Price Analysis
Fundamentals
Here’s what InterLedger Protocol can do. The Ripple innovation can connect banks, mobile money platforms, stock exchanges, clearing houses and different ledgers. By ledgers, I mean blockchains like Ethereum, Bitcoin, Bitcoin Cash or any other network of choice. And it is true. InterLedger Protocol or simply ILP is “an open protocol suite for sending payments across different ledgers. Like routers on the Internet, connectors route packets of money across independent payment networks. The open architecture and minimal protocol enable interoperability for any value transfer system. InterLedger is independent of any one company, blockchain, or currency.”
From this, it is clear that ILP is what will eventually bring value to the largely fragmented blockchain. Note that there are more than 2,000 blockchain projects each with different value propositions. However, it is this differentiation that is draining value, but with a solution that connects them allowing for interoperability, then we shall have one big valuable network.

#StreamingPayments @Interledger #demo by @kava_labs @KevinJYDavis swap BTC, ETH and XRP using Interledger SDK Switch pic.twitter.com/e3qpD0xzEQ
— Vanessa Pestritto (@vanessadice) April 5, 2019

That is the motive behind ILP development, and just recently, the team did launch the first fiat—ILP connector, a big step towards mass adoption and fusing crypto and traditional financial systems. Announced by Vanessa Pestritto of Xpring and demonstrated by Stefan Thomas of Coil and co-founder of ILP, the team is on the way creating an independent Internet of Value (IoV) that is easy to use.
Candlestick Arrangements

Like most coins, Ripple (XRP) is on an uptrend, at third and up 16.3 percent in the last week. Even though the coin valuation is up, XRP is underperforming and didn’t satisfactorily tap Bitcoin price revival.
Nevertheless, we expect bulls to be in charge, driving prices above 40 cents now that XRP is trading within a minor bullish breakout pattern against the USD after clearing 34 cents. Affirming our bullish stance is the strong support at 30 cents and Apr 5 bull bar rejecting bearish attempts of Apr 3-4.
Price surge of Apr 5 did confirm buyers of Jan 30, and after a deep correction, bulls of Sep 2018 are back ready to propel prices to 40 cents, 60 cents and later 80 cents.
Technical Indicators
Our anchor bar in days ahead is Apr 3 bar with 97 million. Although bearish, countering the general bullish trend, the bar is trading with tight range countering flows of Apr 2. Moving on, we expect buyers to be in control and any break above 40 cents ought to be with volumes exceeding 97 million and be wide-ranging.
Chart courtesy of Trading View
The post Is Ripple (XRP) Undervalued After Fiat—ILP Interoperability Demo? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ripple’s CTO clarifies that Interledger Protocol [ILP] is not connected to the RippleNet yet

David Schwartz, the Chief Technological Officer at Ripple, clarified that ILP is not linked to RippleNet and speculated as to when they will be connected.
A Twitter user, @ipinky77 tweeted:
“Do I need to worry? RippleNet is NOT ILP compatible yet? “
This was because of the recent post by Evan Schwartz, the creator of Interledger Protocol [ILP] which stated that Ripple’s Network of banks was currently not connected to or accessible from the open Interledger and that Ripple’s products use a number of other proprietary protocols on top of an ILP-inspired foundation.
He further noted:
“It is possible that both of these could change in the future if there’s a demand from banks to connect to the open interledger, but that’s a decent ways off.”
Interledger protocol [ILP] was developed by two people, Stefan Thomas & Evan Schwartz to facilitate the transactions between two different ledgers with different currencies to go through with ease and less friction than the current fiat system. Through ILP it is possible to enable payments between any ledgers, creating a global graph of liquidity or Interledger.
The user Michael iPinky7 [@ipink77] further referenced a “Ripple Insight” article which stated that Ripple’s solution for banks, xCurrent was built around an open, neutral protocol, the Interledger Protocol [ILP], which would provide interoperability between different ledgers.
Michael iPinky7 stated:
“here it is quite clear: RippleNet IS based on ILP: https://ripple.com/files/ripple_product_overview.pdf … now as I have found other “misleading” info in Ripple’s public docu I am still unsure which is correct now.”
David Schwartz, the CTO of Ripple commented that ILP wasn’t stable enough to build production code on when RippleNet protocols needed to be locked down.
He continued:
“So RN use an older version that was ready then. Convergence will be doable when use cases emerge. My gut says that’s at least a year away, but who knows?”
A Twitter user, @placedonhodl commented:
“I believe what he is saying is exactly what we already knew. Banks are not using ILP as they are not using xRapid. They are using xCurrent which uses Interledger-inspired DLT.”
The post Ripple’s CTO clarifies that Interledger Protocol [ILP] is not connected to the RippleNet yet appeared first on AMBCrypto.
Source: AMB Crypto

Ripple right in the Thick of utilizing Interledger Protocol (ILP) using XRP to move Value across Borders

Ripple is focused on creating the Internet of value by using Interledger Protocol (ILP) with their system and using XRP. Through Xpring, Ripple is already invested in ILP having developed Coil and XRP tip Bot.
Moving more money & value across borders
Recently, Ripple enthusiast Steven Diep shared a video of Ripple VP, Cory Johnson talking about working with Interledger Protocol (ILP) using XRP to move more value across borders.
 

275+ contributors, including Bank of England, Saudi Central Bank, Google and many other companies, are working on Interledger Protocol. Ripple is in the think of using ILP with their software using #XRP to more value across borders.
Cory Johnson @ Ripple pic.twitter.com/pCFt9RshGw
— Steven Diep (@DiepSanh) October 9, 2018

Interledger is basically an open protocol suite for sending payments across different ledgers. Now, Johnson states Ripple is using the open-source protocol Interledger Protocol that connects all those different ledgers which is being worked on by lots of individuals and community groups.
Johnson further shares in his speech that over 250 contributors are involved in it. Banks, central banks such as the Bank of England, Saudi bank along with payment companies are also part of this. Moreover, big tech companies such as Google and consultancy companies, and blockchain companies are also working on ILP.
However, he states the thing is “Ripple is right in the thick of using this ILP with our software and using XRP to move money, move value across borders.”
Also, read: Ripple to Exhibit RippleNet at Swift’s Sibos 2018 Event, Is another XRP Jump Coming?
Ripple focused on Interledger protocol to create an internet of value
The mission is simple, “To create an internet of value.” He says, we have internet of data that has changed the world but we are missing a crucial component of moving value.
“With interledger protocol and with ripple software and using XRP we have created an internet of value,” explains Johnson.
He further mentions that they have already 100 customers rolled in this and that they are adding more customers “every week”.
Ripple has actually launched Xpring that focus on Interledger Protocol. At this “Ripple’s ecosystem initiative”, they are focused on supporting developers and projects building both infrastructure and applications in the Interledger ecosystem.
At the beginning of this month, the co-inventor of Interledger and lead engineer at Xpring, Evan Schwartz shared in his post that “the early Interledger network is optimized for micropayment use cases and trustless trading cryptocurrencies natively across blockchains.”
A few of the instances of infrastructure and application build with ILP involves Coil, a subscription service for supporting web content creators underpinned by Interledger micropayments and the proposed Web Monetization standard. Ilp.ix, a mlab project, which is an XRP peering exchange that helps connectors find and connect to one another. And XRP Tip Bot that enables Twitter, Reddit, and Discord users to tip one another using XRP and IP.
The post Ripple right in the Thick of utilizing Interledger Protocol (ILP) using XRP to move Value across Borders appeared first on Coingape.
Source: CoinGape