Japanese Bank Head Endorse Ripple (XRP) says Bitcoin (BTC) Has no Value

 

Ripple price trajectory is up

Yoshitaka Kitao endorses Ripple (XRP)

Transactional volumes on the rise

 
SBI Holdings and Yoshitaka Kitao are Ripple (XRP) proponents and believe the coin will somehow revolutionize cryptocurrency. Anyhow, with the launch of SBIVC expected in weeks, our previous XRP/USD trade plans will be validated.
Ripple (XRP) Price Analysis
Fundamentals
Sometimes, the head of SBI Holdings Yoshitaka Kitao may appear over-optimistic about Ripple and XRP abilities to revolutionize crypto. SBI Holdings anchors and is the nucleus of Ripple activities in Asia. As the majority holder of SBI-Ripple Asia alliance, they have been promoting adoption in the crypto-active region.
March is when the SBIVC exchange will launch and with XRP paired against the Japanese Yen, we expect an immediate effect on price. However, the real impact is projected to be in August when adoption will be center stage, and there will be regulatory clarity on the status of XRP as a token.
Add this to SBI Holdings plans of supporting Ripple Inc and aid in their ambition of driving the coin to new heights. Bullish signals are flashing. Here is what Yoshitaka Kitao said:
“Under these circumstances, we will promote efforts to expand the practical use of virtual currency like XRP more and more. Also, on the other side, we will provide investment instruments incorporating virtual currency into institutional investors.”
He continues, adding that BTC is expensive and XRP is designed for global cross border payments because it is cheap and settlement is almost instantaneous:
“There is basically no value for Bitcoin. The current price of Bitcoin makes it harder and harder to use in practical ways. So I think that XRP will probably become the number one crypto asset. We are aiming to make that happen.”
Candlestick Arrangements

The path to a possible BTC–XRP flip is long if not next to impossible. At current valuations, XRP is more than 4.5 times more valuable than BTC, and if Kitao comments are valid, then XRP is grossly undervalued.
The third most valuable coin is now changing hands at 33 cents and up 7.1 percent in the last week. While BTC and ETH are posting huge gains from last week’s close, XRP is struggling against bears and consolidating in lower time frames.
Because of this, our XRP/USD trade conditions are not yet true and risk-off traders ought to hold off from executing longs despite high-volume bull bars trending below 34 cents. It is only after a full bar close above 34 cents is when traders can load up on dips with first targets at 40 cents and later 60 cents.
Technical Indicators
Encouragingly, transactional volumes are increasing, and XRP is expanding as a result. In the last few days, averages have risen from 15 million of Jan 29 to 22 million posted yesterday. However, as aforementioned, we need strong market participation driving prices above 34 cents with volumes above 52 million or 83 million of those of Jan 10.
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Source: New feedNewsBTC.com

XRP price prediction 2019: To the moon or to the depths of the abyss?

XRP seems to be doing well for itself ever since it overtook Ethereum [ETH] to become the second-largest cryptocurrency in the world [by market cap].
Ripple, on the other hand, has also performed splendidly, considering its partnerships with a plethora of banks and FIs around the world. Ripple wants to build an ecosystem on the RippleNet for remittance and cross-border payments, and it plans on doing the same by leveraging the cryptocurrency XRP.
In the long-term, Ripple will emerge as a winner and along with it will rise XRP, considering the developments going on Japan’s SBI Group and SBI Holdings, which are planning to disrupt and reshape the whole of Japan’s payments industry with XRP as a tool to accomplish it.
The road so far:
2017
The year 2017 was the year of the bulls which projected the prices of every cryptocurrency in the ecosystem to plummet to unfathomable heights. XRP attained a price of $3.349 per token and the market cap at this point reached $145 billion on January 04, 2018, right after Bitcoin hit its peak on December 17, 2017.
2018
Most analysts in the market expected Bitcoin and every other cryptocurrency to pump higher. While some people in the XRP community believed that the price will shoot up from here to $10, others were mesmerized by BearableGuy123, Ripple and XRP’s very own jester, who put out riddles, and people interpreted the price of XRP to reach an appalling $589 by the end of 2018.
Most of the people in the community thought that it would be possible due to Ripple’s payment solution xRapid, which leverages XRP as a bridge currency to perform cross-border payments.
Brad Garlinghose, the CEO of Ripple, said in one of his interviews:
“I’ve publicly stated that by the end of this year I have confidence that major banks will use xRapid as a liquidity tool, this calendar year. By the end of next year I would certainly hope we would see in the order of magnitude of dozens.”
This statement of Brad Garlinghouse made people believe in the jester.
Another reason why people expected the price to reach $589 or “$5.89” was due to Ripple’s plan to launch “Cobalt” which, according to the Ripple, would drastically decrease the already fast transaction time.
People in the community speculated that since Cobalt’s mass number is 58.9, the price could inadvertently reach $589 or $58.9 or $5.89 by the end of the year.
As the year 2018 came to an end, some people admitted that it wouldn’t happen, while others still believed that $589 is attainable.
There were some massive improvements and updates that the company Ripple had provided, like the signing up of 200+ banks. More than five banks across the world have started using the xRapid payment solution now. MercuryFX successfully transferred money across the border using xRapid recently.
2019
Apart from the above, R3’s Corda Network was turned on, which will use XRP as a settlement currency. R3 announced that it had crossed more than 280+ partnerships, which included a couple of central banks.
SBI Holdings, a consortium of banks across Japan, announced a partnership with R3 and set-up a joint venture to improve Japan’s payment industry.
What to expect?
The XRP community speculates that the partnership between SBI Holdings, R3, and Ripple puts XRP smack in the middle of  SBI CEO’s [Yoshitaka Kitao] plans to launch XRP across Japan in efforts to reshape and restructure their payment system before the Osaka Expo 2025.
Technicals
Daily Chart
The chart below shows the year 2018 so far and how the cryptocurrency XRP has performed over the year 2018. A strong downtrend can be seen hanging over the XRP daily price chart that extends from January of 2018 till date.

The one-day chart shows the formation of two distinct falling wedges for XRP as seen in the chart above. Falling wedges are usually trend reversal patterns that indicate a breakout depending on where there are formed.
The first wedge spanned 256 days and the breakout that occurred pushed the prices by 192% i.e., the prices shot up from $0.26 to $0.76. The second wedge has so far ranged for 141 days and a breakout might happen at any moment. There is, however, a possibility of prices moving sideways for a couple more days.
If the breakout happens, it could drastically increase the price of XRP to two possible levels, the first $0.5798, and the other level, a bit higher than before, $0.7971, which is the highest point of the wedge.
Weekly Chart
The longer time-frame for XRP shows a very different scenario as the prices are forming a descending triangle pattern, and as per the definition, it is a bearish signal.

The volume for the weekly chart also shows a declining trend, further substantiating the descending triangle pattern. The prices might dip in the upcoming days as the price might dip a little lower, possibly to the $0.18 to $0.14 range.
This range could be the capitulation range and there is a probability that the bull run might begin after the weak hands get out of the market.
Market Sentiment
The Ripple and XRP community is particularly fond of XRP and are expecting the prices to the moon due to the success of xRapid. As per recent unfoldings, many banks have started using xRapid.
Moreover, SBI Holdings has partnered with Ripple and R3 and is on a plan to disrupt the Japanese payment industry and simultaneously reshape the payments infrastructure. SBI plans to leverage XRP to make it happen and the CEO of SBI, Yoshitaka Kitao has very ambitious plans to make that happen by 2025.
Considering all the above facts, it can be said that the price of XRP could very well disregard the Technical Analysis and shoot up higher, breaking all the resistance points and maybe even crossing the previous highs at $3.65 when xRapid goes into full effect, or when FIs and Corporate players start using Corda.
The post XRP price prediction 2019: To the moon or to the depths of the abyss? appeared first on AMBCrypto.
Source: AMB Crypto

XRP Can Now be Used at 4,500 e-Stores Worldwide as CoinGate Adds New Payment Option

CoinSpeaker

XRP Can Now be Used at 4,500 e-Stores Worldwide as CoinGate Adds New Payment Option

Unlike cryptos added to CoinGate’s listing earlier, XRP is not logged on the blockchain, as CoinGate launched an XRP ledger validator to “further accelerate the decentralization of the $XRP network”. 

XRP Can Now be Used at 4,500 e-Stores Worldwide as CoinGate Adds New Payment Option

Continue reading at Coinspeaker
Source: CoinSpeaker

SBI Group’s “strategic” partnership with Ripple and R3 could reshape the payments industry as a whole

Opinion:
SBI Group is a humungous financial services company based in Japan, which has investments in sectors like Information Technology, Biotechnology, life science, mobile/wireless, environment, and energy.
SBI Holdings, Inc., together with its subsidiaries, engages in the online financial service businesses and investment activities in Japan and internationally.
The most important and well-known in the cryptocurrency realm is the joint venture partnerships with the likes or Ripple or R3 and many more.
SBI Holdings has completed a circle of partnerships which might seem random on the surface but has more to it. These partners include Ripple, a U.S. based company that is trying to disrupt the banking and financial sector as a whole through its blockchain-based payment products and solutions, and R3, an enterprise blockchain software company which is involved in research and development of DLT.
SBI + Ripple
Ripple has over 200 partnerships with various banks and financial players which are spread across the world. Ripple is leveraging its proprietary products like xVia, xCurrent, and xRapid to process payments in a more fast, secure and transparent way than the traditional ones.
SBI Group partnered with Ripple and created a joint venture called “SBI Ripple Asia Co., Ltd.” to provide a next-generation payment platform powered by DLT [Distributed Ledger Technology] to financial institutions and remittance transfer providers in Asia as a joint venture of SBI Holdings and Ripple, a US FinTech venture.
Moreover, the JV promotes to create a next-generation settlement platform for international and domestic use which will largely reduce the remittance cost and the time required for the payments to be completed.
One of the important outcome out of this partnership was MoneyTap, which makes use of Ripple’s xCurrent DLT technology to facilitate inter-day banking transfer, which provides a 24-hour/7 payments service to all the customers in Japan.
SBI Group’s CEO, Yoshitaka Kitao has always been very bullish when it comes to XRP and plans to make use of the cryptocurrency to capture Japan’s financial industry. Kitao had stated:
“XRP is faster, cheaper and more scalable than any other digital asset. I strongly believe it will become the global standard in digital currencies.”
Ripple and R3 have settled their legal dispute on September 10, 2018, which provided a path for the joint venture between R3 and SBI.
SBI + R3
R3, an enterprise blockchain software company which leads a consortium of over 250 banks and financial industries, central banks, in research and development of distributed ledger technology partnered with SBI Holdings to create a JV called “SBI R3 Japan Co. Ltd.” on January 28, 2019.
R3 is concerned with the development, maintenance, and marketing of their application “Corda” which is an open source blockchain project which allows the building of interoperable blockchain networks that transact in privacy utilizing their smart contract technology.
The company recently announced that Corda network was live and that XRP will be used as a currency to settle transactions.
SBI Holdings plans to make use of the partnership of Ripple and R3 to extend a solution across all the sectors of the industry which is not only faster but secure and tamper-proof.
Recent reports by SBI Holdings stated:
“R3-Ripple solution: Become a global standard for financial operations such as international money transfers and trade finance”
Strategic Partnerships
SBI plans to make use of these partnerships not just to disrupt the traditional financial systems but also use these across all industries, which include real estate, healthcare, supply chain, Forex industry, global cash management, etc.
Entry of XRP into either one of the above-mentioned markets, especially the “Forex industry” could make a huge difference in how we perceive XRP and the price, as a result, would sky-rocket to unfathomable amounts.
Most importantly, will Ripple lose its grip on the remittance industry to R3? The recent partnership of R3 with SBI puts R3 in a more comfortable position as compared to Ripple. However, this is not the full story, but just a glimpse of what SBI might be planning behind closed doors.
The post SBI Group’s “strategic” partnership with Ripple and R3 could reshape the payments industry as a whole appeared first on AMBCrypto.
Source: AMB Crypto

Ripple Price Analysis: XRP Benefiting From SWIFT–Corda Trial

Ripple price surge 10 percent
SWIFT GPI Link proof of concept with R3’s Corda
Transactional volumes picking up, spikes above averages

SBI Holdings may be behind an audacious plan of integrating SWIFT GPI with RippleNet via R3’s Corda Settler. The latter use XRP, and if that is the case, our previous XRP/USD trade assertions will be valid. With a 10 percent spike, it is likely that XRP could retest 80 cents.
Ripple Price Analysis
Fundamentals
Good news for Ripple and XRP. SWIFT, the global payment messenger platform, is in a proof of concept stage, trying out its new GPI Link payment standard withR3’s Corda. If anything—and if this testing phase is a success, then we could see SWIFT integrating XRP indirectly via the Corda platform. Remember, in Dec 2018, Corda Settler launched. Corda Settler is an application that facilitates cryptocurrency payments between enterprise blockchains via XRP.

We are excited to announce our partnership with @swiftcommunity to integrate gpi with Corda Settler. @Cordablockchain https://t.co/FyEJScr0j8
— R3 (@inside_r3) January 30, 2019

Furthermore, there is an existing partnership between R3 and SBI Holdings where the former has a 60 percent in the SBI R3 Japan venture. It doesn’t stop there. SBI Holdings also has a 60 percent stake in SBI Ripple Asia consortium, and the banking group is a keen supporter of XRP and Ripple solutions.
“SBI Ripple Asia is providing a next-generation payment platform powered by DLT (Distributed Ledger Technology) to financial institutions and remittance transfer providers in Asia as a joint venture of SBI Holdings and Ripple, a US FinTech venture.”
Candlestick Arrangements

From the above, it’s not hard to see why Takashi Okita of SBI Holdings is not pulling strings as SWIFT trials on Corda. XRP is up 10 percent at the time of writing with decent trade volumes.
We shall gauge the level of market participation by close but what is clear is that there is a double bar bull reversal pattern off 30 cents. The bar does confirm bulls of mi-Dec 2018 as well as bringing to light the previous trajectory set by Sep 2018.
Because of this, it is likely that XRP bulls will drive prices above 34 cents igniting risk-off long positions with first targets at 40 cents.
Technical Indicators
Even though we have a clear bull bar, transactional volumes are light—but above average. At the time of writing, today’s bullish engulfing bar was pumped by high-volumes –23 million. Trading ranges are extensive, but volumes are below those of Jan 28—31 million and less than 83 million of Jan 10. All the same, we are in the early stages of a trend reversal, and transactional volumes are building up.
The post Ripple Price Analysis: XRP Benefiting From SWIFT–Corda Trial appeared first on NewsBTC.
Source: New feedNewsBTC.com

SBI’s Newly Launched Crypto Exchange VCTRADE Adds Support for Bitcoin, XRP and Ethereum

CoinSpeaker

SBI’s Newly Launched Crypto Exchange VCTRADE Adds Support for Bitcoin, XRP and Ethereum

SBI’s VCTRADE announced that they have added support for XRP, Bitcoin, and Ethereum. Ripple is excited by this announcement and believes their token, XRP, will achieve worldwide adoption due to the support.

SBI’s Newly Launched Crypto Exchange VCTRADE Adds Support for Bitcoin, XRP and Ethereum

Continue reading at Coinspeaker
Source: CoinSpeaker

“Crypto Hangover” Causes Nvidia’s Stock to Tumble 17%

Following a week of widespread carnage in the cryptocurrency markets, traditional retail stocks involved with the crypto sector are feeling the burn as well, with the California-based computer chip maker, Nvidia’s (NVDA) price tanking on the Nasdaq stock exchange.
Nvidia’s plunge came about after the company reported Q3 results that were significantly below what analysts and investors had expected, causing a sharp selloff that forced its price down 17% to its current price of $167.94.
Nvidia’s ties to the cryptocurrency industry have contributed to its recent drop, with Bitcoin recently setting fresh 2018 lows when it gradually declined from $6,500 to $6,200, and then sharply dropped to its current price of $5,600.
A sizable portion of their revenue comes from their cryptocurrency mining hardware, which enables miners to efficiently use computing power to solve complex mathematical equations that power cryptocurrencies and rewards those miners with digital assets.
Although the crypto boom in 2017 and early-2018 proved to be beneficial for Nvidia, the preceding crash is now negatively affecting their revenue stream.
Nvidia’s CEO, Jensen Huang, spoke to investors about the negative effects of the cryptocurrency markets on a conference call on Thursday, saying that “the crypto hangover lasted longer than we expected.”
Due to a combination of declining cryptocurrency-based sales, and less purchase orders from major gaming customers, like Nintendo, Nvidia is now estimating that their revenues for the current holiday season will drop to $2.7 billion, down significantly from analysts’ previous estimates of $3.4 billion.
Related Reading: Nvidia Pulls Out of Crypto Mining Citing Low Revenue, While Bitmain Tops Their Profits
Effects of Crypto Drop Impacting Multiple Retail Stocks 
The persisting cryptocurrency bear market is impacting multiple traditional retail stocks, with one of Nvidia’s main rivals, Advanced Micro Devices (AMD) dropping nearly 5% on Nasdaq today, also reporting lower-than-expected earnings to customers.
SBI Holdings, a Japan-based financial consortium, is another company whose stock performance is being impacted by the recent crypto drop, with their stock falling over 3% today, and currently trading down 15% from its one-month highs.
SBI has been quickly getting incredibly involved in the cryptocurrency markets, launching a digital asset exchange under their subsidiary, SBI Virtual Currencies, and launching a Ripple-based mobile app, called MoneyTap, to facilitate rapid, blockchain-based, transfers.
Although long-term, their involvement with the cryptocurrency markets and Ripple in particular, could prove to be highly lucrative, the current speculative nature of the nascent cryptocurrency industry is disconcerting investors who are used to the ebb and flow of more traditional industries.
At the time of writing, the cryptocurrency markets have posted slight gains from their recent lows, with most major cryptocurrencies trading up slightly at the time of writing, with Bitcoin trading up 1.1%, Ripple trading up 2.1%, Ethereum trading up 0.5%, and Bitcoin Cash trading down just over 3%.
Featured image from Shutterstock.
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SBI Holdings VCTRADE, Fully-licensed Crypto Exchange Officially Opens for Regular Customers

SBI Holdings VCTRADE, (SBI virtual currency exchange) that exclusively supports only three cryptocurrencies viz. Bitcoin (BTC), XRP and Bitcoin Cash (BCH) is now officially open to the general public after two years of its announcement.

SBI Holdings VCTRADE, bank-backed crypto exchange goes public

Japanese financial giant SBI Holdings’ cryptocurrency trading platform has been finally opened for the public. The virtual currency exchange has previously accepted the applications for account openings from selected individuals only. But now, in its official announcement, new accounts opening service is starting from today.

About two years back, SBI announced its plan to launch a virtual currency exchange and since then it has acquired the operating license from the Financial Services Agency (FSA) of Japan which is the country’s financial watchdog. SBI Virtual Currency exchange is the first Bank-backed crypto exchange that is opening the accounts for individuals that are residents of Japan and between the age group of 20 to 70 years.

However, corporate customers are excluded and not accepted as the announcement explicitly mentions that registration services aren’t available for corporate customers.

The first step for this is the email registration and verification that involves the password setting for the platform and requires the user to go through the important documents provided by the exchange.

In the next step, the documents like passport, driver’s license etc. are to be submitted by the user. A point worth noting is that the exchange only allows the withdrawals to the same bank account as of the registered one on its platform. The process will be completed once the company sends a postcard to the user’s registered address.

Also, read: XRP has Potential to be Global Standard in Future: CEO of SBI Holdings

BTC, XRP, & BCH exclusive exchange

Launched in June, VCTRADE announced its support for the XRP trading against Japanese Yen. However, later on, it added Bitcoin (BTC) and Bitcoin Cash (BCH) and for now, only these 3 cryptocurrencies are available on its platform.

SBI is a fully licensed exchange operator in Japan which is planning to be the biggest one as shared by its president Yoshitaka Kitao at the time of launch,

“When we do it, it will be number one in the blink of an eye so quickly, so even if a tremendous number of customers come, we can build a system that can bear [the workload].”

Initially, the exchange has opened the account of only 20,000 customers that applied for advance reservation. Now, anyone who is the resident of Japan and qualities for it can open their accounts that have the crypto community excited.

The post SBI Holdings VCTRADE, Fully-licensed Crypto Exchange Officially Opens for Regular Customers appeared first on Coingape.

Source: CoinGape