Ripple Moves Court to Dismiss XRP’s Securities Lawsuit, But Fails to Answer Questions

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Ripple Moves Court to Dismiss XRP’s Securities Lawsuit, But Fails to Answer Questions
Ripple has recently moved to court making strong counter-allegations on one of the plaintiffs claiming XRP is a security. The company has filed a motion to dismiss the plaintiff’s claims.
Ripple Moves Court to Dismiss XRP’s Securities Lawsuit, But Fails to Answer Questions

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Source: CoinSpeaker

Ripple Price (XRP) Holding Key Support: BTC & ETH Bounce Back

Ripple price is finding a strong buying interest near the $0.2850 level against the US dollar.
The price is currently consolidating and it is likely to climb back above $0.3000.
There is a connecting bearish trend line forming with resistance near $0.3000 on the hourly chart of the XRP/USD pair (data source from Kraken).
The price could start a fresh increase if it surpasses the $0.3000 and $0.3050 resistance levels.

Ripple price is trading in a positive zone against the US Dollar, while bitcoin is rebounding. XRP price must stay above the $0.2850 support to bounce back above $0.3050.
Ripple Price Analysis
After a sharp upward move, ripple price started a downside correction from $0.3250 against the US Dollar. The XRP/USD pair traded below the $0.3120 and $0.3050 support levels. Moreover, there was a break below the $0.3000 support area. The bears even pushed the price below the 50% Fib retracement level of the upward move from the $0.2560 swing low to $0.3272 high.
However, the $0.2850 support area acted as a strong barrier for the bears. It seems like the 61.8% Fib retracement level of the upward move from the $0.2560 swing low to $0.3272 high is acting as a solid support. Additionally, the price is holding the 100 hourly simple moving average, which is currently at $0.2855. Therefore, the price could start a fresh increase as long as it is above $0.2850.
On the upside, there are two key resistances near $0.3000 and $0.3050. Moreover, there is a connecting bearish trend line forming with resistance near $0.3000 on the hourly chart of the XRP/USD pair. If there is an upside break above the trend line and the $0.3050 resistance, there are chances of a fresh rally towards the $0.3250 resistance area.
Conversely, a downside break below the $0.2850 support might spark further losses. The next key support is near the $0.2720 and $0.2730 levels. The 76.4% Fib retracement level of the upward move from the $0.2560 swing low to $0.3272 high is also near the $0.2730 level. If the price fails to stay above $0.2720, it could revisit the key $0.2650 support area in the near term.

Looking at the chart, ripple price is clearly holding the key $0.2850 support area and the 100 hourly SMA. Therefore, there are high chances of a fresh increase towards $0.3250. Only a close below the 100 hourly SMA might push the price to $0.2720.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is likely to move into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is slowly moving higher and it could surpass 50.
Major Support Levels – $0.2850, $0.2720 and $0.2650.
Major Resistance Levels – $0.3000, $0.3050 and $0.3200.
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Can Coinbase Capitalize On Binance Becoming Less Attractive To US Crypto Investors?

San Francisco-based crypto exchange Coinbase has revealed that it is evaluating potentially launching its own initial exchange offering or security token offering, akin to the Binance Launchpad program.
Is this Coinbase following the emerging trends within the greater crypto market, or is this just the company hoping to capitalize on Binance losing its stronghold over US-based crypto investors and out-offer the competitor in its homeland?
Crypto Exchange Coinbase is Exploring IEO and STO Platforms
If 2017 was the year of the ICO boom, 2019 was the year of the IEO explosion. During the first half of the year, Binance debuted its Binance Launchpad platform designed to launch new and exciting crypto tokens with the backing and support of the exchange itself.
Related Reading | Binance Alternatives for US-Based Altcoin Investors and Crypto Traders
It sparked an entire trend of IEO tokens and platforms at other exchanges such as Bitfinex, and crypto investors flocked to the new tokens in droves. Most of the IEO tokens were among the hottest traded altcoins across the market after they were first released, however, as soon as Binance revealed that it would be blocking US-based investors from its flagship website, the IEO craze turned south along with the rest of the altcoin market. But it is still showing signs of interest from early-bird investors looking to strike it rich.
Also proving that the IEO trend is still showing strong demand, is the fact that Coinbase has revealed that they are now considering launching an IEO or even an STO platform of their own to launch new crypto tokens to the masses.

“We think there’s a really interesting opportunity there for Coinbase. Coinbase is carefully exploring not only the IEO space but also STOs, but I can’t make any formal announcements right now,” explained the company’s head of institutional sales in Asia, Kayvon Pirestani.

Going For the Knockout with Binance on the Ropes in the US
But is Coinbase – normally a trendsetter and not a follower – actually following an emerging trend, or are they trying to capitalize on the rocky relationship Binance currently has with US-based investors?
During 2017, Coinbase enjoyed a large portion of the crypto market share. But after Binance exploded onto the scene instantly becoming the market leader, Coinbase has had strong competition ever since. Competition that it now could have multiple advantages over, at least in the United States where the largest portion of crypto investors reside.
Coinbase is also said to be considering launching margin trading, yet another feature that Binance was first to the punch with. However, Coinbase’s best “one-up” it has over Binance currently is the crypto exchange’s larger altcoin offering.

Fewer coins than Coinbase No small-cap alts All pairs are against USD or USDT No margin trading
It's official! Binance US is trash pic.twitter.com/Db1VpB67wd
— Satoshi Kovacs (@SatoshiKovacs) September 19, 2019

While it may be difficult to imagine a day where Coinbase offers more altcoins than an exchange bearing the Binance name, but the US version of the crypto market poster child offers only seven assets, with only some of them being classified as altcoins alongside Bitcoin and the stablecoin Tether.
Coinbase, on the other hand, has amassed a list of over 20 altcoins and is ahead of the game when it comes to being on important US financial market regulators good side.
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Crypto Adoption: Arab Bank (Switzerland) to Enable Investors to Invest in BTC & ETH

According to a recent official announcement by Arab Bank (Switzerland), the bank plans to expose its customers to cryptocurrencies, starting with Bitcoin and Ethereum. As per their announcement, the Arab Bank (Switzerland) takes this decision in recognition of the fact that the natural home for investors to securely trade and custody digital assets is with banks.
Arab Bank (Switzerland) Exposes Customers To Digital Assets
As a service to be rendered to its customers, Arab Bank (Switzerland) plans to introduce trading and also custody of cryptocurrencies for its customers. The bank offers institutional-level digital assets custody and trading services to both high-net-worth customers and institutional clients. Their customers will now benefit from the security and the safety offered by a well-capitalized and regulated Swiss bank which has more than 50 years of history.
According to Arab Bank, crypto-assets have started to make waves across the globe driven by the emergence of secure, banking-level infrastructure and a purposeful regulatory system.
As from September 2019, Arab Bank Switzerland will offer its clients the advantage of gaining direct exposure to the fast-growing cryptocurrency industry, starting with top crypto-assets Bitcoin and Ethereum.
“Starting from September 2019, Arab Bank offers secure custody, transfer, and trading of Bitcoin, Ethereum and will soon be followed by Ripple.”
Available Services: Trading, Custody, And Transfer
The bank will offer trading, custody and transfer services. With custody services that have been built using advanced technologies and are compliant with Swiss bank regulations, customers will be able to invest in digital assets securely. Upon opening an account, customers will be able to transfer digital assets to their bank’s crypto wallets in a way similar to sending funds to an exchange. Also, clients will be able to buy and sell digital assets with the assistance of a dedicated relationship manager.
“They can buy digital assets to gain exposure to the emerging asset class and diversify their portfolio. They can also sell them to realize their capital gains or generate liquidity.”
Arab Bank Switzerland is a sister bank of Arab Bank Plc. It is independent and draws upon various networks of branches across the Arab region.
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Source: CoinGape

Ripple-backed Coil enters into partnership with Mozilla, Creative Commons

Coil, a Ripple-backed organization which facilitates payment solutions for major companies on the Internet to accept XRP as a form of payment, has entered into a major partnership with Mozilla and Creative Commons. Founded by Ripple CTO Stefan Thomas, Coil came to an agreement with Mozilla and Creative Commons to launch a $100 million grant […]
The post Ripple-backed Coil enters into partnership with Mozilla, Creative Commons appeared first on AMBCrypto.
Source: AMB Crypto

Ripple’s XRP Eyes Relief Price Rally; Here’s Why

XRP was rising on Tuesday as investors flew out of the bitcoin market amid growing uncertainties regarding its safe-haven status.
The Ripple blockchain’s native asset climbed 1.73 percent to $0.00455 on BitFinex exchange. That brought its week-to-date gains up by more than 2.5 percent, providing one of the first signs of a relief price rally after months. XRP’s moves appeared the same against bitcoin, wherein the asset surged by as much as 4.49 percent against the benchmark cryptocurrency.
Ripple’s XRP looking to switch interim bias in favor of bulls | Image credits: TradingView.com
The surge occurred as market analysts awaited a plunge in the bitcoin dominance, triggered by fears that the cryptocurrency is not behaving like a safe-haven asset. As covered by NewsBTC earlier, Bitcoin remained cautious as drones attacked two Saudi Arabian crude oil production facilities on Saturday. The attack dwindled the world’s oil supply by 5 percent, sending the global stock market, including the benchmark S&P 500, down. As the equity markets plunged, long-time haven assets such as Gold, Treasuries, and the Japanese Yen surged. But bitcoin didn’t.

Bitcoin dominance is now comparable to where it was before there was even a developed market for altcoins.
Hard to see it getting much stronger from here. pic.twitter.com/pgfNWLQipr
— Mati Greenspan (@MatiGreenspan) September 16, 2019

The mum approach prompted bitcoin traders to hedge into the altcoin market. In the last 48 hours, Ethereum climbed by as much as 6.72 percent against the US dollar – and 7.69 percent against bitcoin. The ETH/BTC instrument, as of now, is registering its four-day winning streak. The sentiment also breathed life into the XRP market, which, as renowned analyst Mohit Sorout noted, was trading in oversold territory for three months straight.
The Bitazu Capital partner said he now expects “a relief rally” in the XRP market.
Intraday Hedging
But XRP’s interim upside action could live short, after all. The Next Web reports that Ripple’s core investor base is not happy with the way the blockchain project is developing. They think the San Francisco company is dumping XRP tokens, which has even led some disappointed ones to start a petition on Change.org, titled “Stop Ripple Dumping.”
“The only logical explanation is that Ripple is dumping on us. And not small amounts either – literally, billions. We have seen the reports of them disclosing this, so it’s a fact,” the petition reads. Over 3,500 signatories have shown support.
The petitioner cites Ripple’s financial reports as evidence. The Q2/2019 report shows that the firm sold $106.87 million and $144.64 million worth of XRP in direct institutional sales and programmatic sales, respectively. Meanwhile, the Q1/2019 data brings a similar picture – Ripple sold $890 million worth of XRP to fund institutions and support exchanges.

It's incredible that there is enough demand that $250M doesn't completely crash the price. But I have long thought that Ripple is misleading XRP holders and most of them don't seem to understand that dumping like this to fund a business is not only unsustainable but ill-advised
— Larry Cermak (@lawmaster) July 25, 2019

Meanwhile, the XRP/BTC instrument plunged by more than 70 percent.
Technical analysts, nevertheless, see XRP breaking out of its downtrend – against both the dollar and bitcoin. However, with Bakkt launching the first physically-settled bitcoin futures contracts next week, altcoins could see speculators driving back to the king cryptocurrency.

Reminder, the hype is bakkt with substance.
Unlike other futures exchanges, this is settled in bitcoin. Actual bitcoin is paid out, not just the fiat equivalent to the price of bitcoin.
The result is better price discovery and liquidity for bitcoin.
— Rhythm (@Rhythmtrader) September 16, 2019

Bitcoin was down 0.65 percent against the dollar at the time of this writing.
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XRP built for practical use case to solve inefficiencies in legacy banking systems, says Ripple exec

“We do not see crypto as replacing fiat.” Breanne Madigan, Head of Global Institutional Market at Ripple said at The OECD Global Blockchain Policy Forum 2019. In the finance session, Madigan stated that Ripple was inclined toward interoperability and that “replacing fiat” was not their goal. The Ripple exec said, “We see opportunities for the […]
The post XRP built for practical use case to solve inefficiencies in legacy banking systems, says Ripple exec appeared first on AMBCrypto.
Source: AMB Crypto

Ripple exec talks about XRP as a means of liquidity management

On the stage of The OECD Global Blockchain Policy Forum 2019, Ripple’s Global Head of Banking, Marjan Delatinne revealed the firm’s vision for XRP while addressing complexities surrounding the traditional financial system in terms of cross-border remittances. She stated: “We have been working with XRP to ensure that it has the key characteristics in order […]
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Source: AMB Crypto

Ripple Price Analysis: Can XRP/USD Avert The Impending Breakdown?

Ripple price support areas in grave danger if triangle support gives in the prevailing selling pressure.
Ripple short-term technical picture has a strong bearish bias.

Ripple (XRP) investors should strap their belts tightly on readiness for a bumpy rollercoaster ride. Sustained movements above the resistance at $0.2550 have been very scarce. Also pressing down on the price movement is the 100 Moving Average on the one-hour chart.
A broader look at the chart reveals a market that has been trending upwards although gradually. However, the prominent pattern is the lower highs pattern experienced from Sunday last week. An ongoing bearish correction risk setting off the trigger if XRP steps below the forming symmetrical triangle support.
XRP/USD 1-hour chart
XRP/USD price chart by Tradingview
The technical levels applied to the chart also paint a negative picture. The Stochastic RSI retreated into the oversold levels. The signal is right at the bottom of the scale (0.00) signifying the increasing selling pressure on the market.
On the contrary, the Moving Average Convergence Divergence (MACD) has ignored the downtrend on Friday. Its recovery uptrend stalled at the mean line (0.0) but it has maintained a positive divergence. If this trend continues, Ripple could avert the impending triangle breakdown.
Several support areas will come in handy to cushion XRP from the potential breakdown. The initial support area is $0.2500. Extended declines will seek refuge above the major support at $0.24. On the upside, Ripple needs to rise against all odds to clear the resistance at $0.2550. Trading above the triangle resistance will place XRP in a trajectory to attack the targets at $0.28 and $0.33 respectively.
Ripple Key Technical Analysis
Spot rate: $0.2532
Relative Change: -001799
Open: $0.2542
High: $0.2561
Low: $0.2524
Trend: Generally bearish
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Source: CoinGape

XRP Network Closes 50 MM Ledgers, Will This Milestone Shake the Stagnant Price?

The XRP network is reported to have crossed more than 50 million closed ledgers. While this is a reason to rejoice for XRP community to rejoice, the news does not seem to have had much of an impact on the price of the cryptocurrency. In an entirely different event,  Ripple CEO, Brad Garlinghouse, has addressed some community concerns in a recent interview, explaining some major distinctions between XRP and bitcoin as well as the reasons the company follows in its monthly XRP sale.
50 Million Closed Ledgers Create Excitements Amid Other Concerns
As per a tweet from a twitter user, Warren Paul Anderson on Friday morning, the XRP network has crossed 50 million closed ledgers. The news has created great excitement among Ripple supporters, despite concerns that the parent company, Ripple might be doing more harm than good to the popular cryptocurrency. Despite the excitement, the development has failed to shake up the XRP price. In fact, XRP, at present, is trading at $0.254, down 0.41% from yesterday’s price.
Source: Twitter
The XRP Ledger is a shared global ledger. Participating individuals can rely on the decentralized nature of the ledger without having to trust a single centralized institution or authority that controls the system. The server software rippled, does this by managing a database or ledger that can only be updated following very specific rules. Each instance of rippled maintains a full copy of the ledger, and the peer-to-peer (P2P) network of rippled servers shares candidate transactions among themselves. The described networking system has now crossed over 50 million in magnitude.
Ripple CEO Responds To Community Concerns
In another event, renowned CNN Anchor, Julia Chatterley interviewed Ripple CEO, Brad Garlinghouse. Garlinghouse revealed the reasons behind Ripple’s monthly sale of XRP, the distinctions between XRP and bitcoin and called Facebook Libra, “just a whitepaper” in the long run.
While explaining Ripple’s huge sales of XRP and whether this has any direct impact on XRP price, Garlinghouse maintained that Ripple’s market impact on the price of XRP is no worse than how bitcoin whales manipulate BTC’s price. Further, he noted that XRP was a better alternative to bitcoin in terms of cost and speed of transactions.
According to Garlinghouse, transactions on the XRP network presently cost significantly lesser than $1 and take place in just 3 seconds as against a $1 fee and 10 minutes confirmation time per transaction in the Bitcoin network.
Bitcoin is a store of value, it’s digital gold. But if a bitcoin transaction costs $1 and an average of 12 minutes per transaction, that is not gonna be great for a payment solution. Payment within XRP is uniquely and extremely well positioned to solve that payment problems. Extremely fast, about 3 seconds per transaction and it cost about a 1000th of a penny…”
When asked about the accusations regarding Ripple dumping XRP, Garlinghouse responded that it was not in their best interest to do that and the company was interested in a “healthy, successful ecosystem”.
Garlinghouse also said that most of the XRP the company owned was in an escrow so “we can’t touch it”. When asked if Ripple was offering discounted prices to certain clients, Garlinghouse initially denied the claim and also said that there was a lock-up period for them. But Garlinghouse eventually gave away that these investors were getting XRP for “slightly cheaper”.
The post XRP Network Closes 50 MM Ledgers, Will This Milestone Shake the Stagnant Price? appeared first on Coingape.
Source: CoinGape

BnkToTheFuture Invents the Future by Going into Security Token Offerings

Coinspeaker
BnkToTheFuture Invents the Future by Going into Security Token Offerings
BnkToTheFuture expects a bright future for the STO market. The company is going to offer a shared security token advisory and investment service.
BnkToTheFuture Invents the Future by Going into Security Token Offerings

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Source: CoinSpeaker

Crypto Crisis: Pro Trader Compares Altcoins To Crushing Student Debt

Back at the end of the crypto hype bubble in 2017, altcoins like Ethereum, Litecoin, and Ripple, and even more obscure altcoins were all expected to be a revolutionary breakthrough in financial technology. Hopes were high for the emerging asset class, and retail investors flocked to the crypto market in hopes of finding the next Bitcoin.
These days, altcoins are failing to deliver on the utility they promised during that time period, and most have since fallen over 90% or more from the all-time highs set back then. The negativity surrounding the alternative crypto assets sparked one professional career trader to compare altcoins to student debt as the two things victimizing millennials currently.
Peter Brandt Compares Altcoins to Crushing Student Debt
Every generation suffers some sort of challenge or atrocity, where an entire subset of people falls victim to specific emerging trends. During the early 2000s, acts of terrorism changed humanity. Later in the decade, recession hit and jobs were difficult to come by.
Related Reading | Bitcoin and Crypto Has Introduced Millennials to Investing in Markets, Despite Fears
Fast forward to now, student debt has climbed to all-time highs, and its causing widespread issues in the growth of the economy, and has impacted everything from job selection to choice in housing – more and more millennials are opting for apartments so they can pay down student debt, which is crushing the housing market.
Student debt, is without a doubt, a crisis that is spiraling out of control that will have long-term implications for the future of the entire world. Global debt as a whole is problematic, but for young students just starting out in life, student debt can be a crushing reality that can take years and even decades to escape.
That’s why it’s shocking to read that altcoins – an entire asset class of cryptocurrencies – have been compared to something so inherently bad as student debt. The comparison was made by professional trader, Peter Brandt, who regularly bashes altcoins while being extremely bullish on Bitcoin long-term.

Every generation has their own victim class. For millennial, the predators will be student loans and alt-coins.
— Peter Brandt (@PeterLBrandt) September 12, 2019

Continued Crypto Crash Fueling Negative Comparisons
Sentiment in the crypto market is at extreme lows, and not because Bitcoin is on shaky ground. The negative sentiment is mostly due to altcoins, such as Ethereum, Litecoin, and Ripple, struggling to find support and continuing to crash.
Altcoin investors who bought the top of the crypto hype bubble need to deal with the harsh reality that many of their investments may never again grow in value and are likely to never again set a new all-time high.
Related Reading | Peter Brandt: 99% of Altcoins Will Be Forgotten in Five Years
Unfortunately, these investors did indeed fall victim to hype and the promise altcoin companies were pitching to investors who bought in hoping to strike it rich. Instead of striking it rich, their money was nearly wiped out entirely.
With the fact that altcoins may never recover, the comparison to student debt victimizing millennials may not be so far off after all.
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Ripple’s Brad Garlinghouse: Nobody is in a position to manipulate XRP prices

On the 12 September 2019, Ripple’s CEO, Brad Garlinghouse, was interviewed on CNN International by Julia Chatterley on her show, First Move. During the interview, Garlinghouse said Ripple is seeing more momentum than ever with regard to people using XRP to make transactions. He also mentioned how people speculate on different asset classes and that […]
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Source: AMB Crypto

R3’s partnership with Mastercard to introduce its blockchain-enabled cross-border payments solution

R3 has entered Ripple’s playing field as it announced a strategic partnership with Mastercard, a leading global payments and technology company. This strategic partnership between the two is piloting a new blockchain-enabled cross-border payments solution, something that Ripple provides not only to banks but also to other Financial Institutions. The cross-border payment solutions intend on […]
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Source: AMB Crypto

XRP community divided over price: Why the so-called fork may NOT be a viable solution

XRP community on Twitter distinguishes itself from the rest by the title bestowed upon it- ‘XRP army’; however, a troop from this army has shifted allegiance. Leading this faction is a Twitter user ‘Crypto Bitlord’, according to whom, he/she (they) act as the delegated spokesperson for a disenchanted and disillusioned camp. Bitlord’s first operation was […]
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Source: AMB Crypto