Ripple Finishes $50M Investment in MoneyGram

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Ripple Finishes $50M Investment in MoneyGram
Ripple Labs has just completed a $50 million investment in MoneyGram. Their collaboration dates back to 2018 when MoneyGram decided to test the use of XRP to reduce the costs of its money transfers.
Ripple Finishes $50M Investment in MoneyGram

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Source: CoinSpeaker

Will Venture Capitalists Behind Ripple Prop Up XRP Price?

Eric Daduon, an investor and a crypto thought leader, is of the view that Ripple Inc. investors will not allow XRP prices to tank and this will consequently will the Internet of Value (IoV) into existence so as to prop prices.
Internet of Value Around the Corner?
The Ripple platform aims to be a go-to network for financial institutions including banks where they can send money anywhere in the world easily and cheaply.
Aside from the involvement of leading venture capitalists like Google Venture, Accenture and Andreessen Horowitz, and leading global banks like SBI Group, Standard Chartered and Santander back the for-profit organization.

#Ripple makes money elsewhere but safe bet they want a higher $XRP price given their “bag”. You know who else would? Their investors (Standard Chartered, Santander, Andreessen Horowitz, Accenture, Google, etc).
These giants are going to will the #IoV into existence. I can wait.
— Eric Dadoun (@EDadoun) November 21, 2019

XRP Down 44% Year-to-Date against USD
Dadoun’s opinion will excite the XRP community, a band of supporters considered to be the most loyal, and optimistic about future prices. They hope that XRP will reclaim its January 2018 all-time high of $3.20. Even so, XRP prices remain largely suppressed, as the third most valuable coin by market cap registers huge losses on a year-to-date basis.

To quantify, XRP is down 44%, 68% and 57% against USD, BTC and ETH respectively. This is despite the number of partners brought on board the RippleNet increasing above 300, and Ripple Inc investing in MoneyGram in a deal that involved the remittance service provider incorporating xRapid.
XRP Blocked by Regulatory Uncertainty
Companies are mostly apprehensive of integrating xRapid and using XRP mainly because there is no clear regulatory guidance around XRP. Already, there are several lawsuits where aggrieved holders of XRP want compensation complaining that Brad Garlinghouse and team tricked them into buying unregistered securities which eventually collapsed causing financial harm.
Centralization Claims
Ripple is the majority holder of XRP coins in circulation. With a 55% control, 55 billion XRPs in their custody, critics are adamant that Ripple ledger is centralized and there will always be a risk of Ripple Inc dumping their holdings on token holders as the project seeks to finance their operations.
Is Ripple Suppressing Prices?
Already, there is a section of the XRP community complaining that Ripple has been actively “dumping” XRP, deliberately keeping prices low to attract banking partners and to enable entities using XRP to cheaply use the coin in their operations. Ripple Inc continues to market three main solutions to their burgeoning clientele: xRapid, an option that incorporates XRP (for On Demand liquidity) for global, instantaneous value transfer, xCurrent, which is widely adopted, and xVia, a solution which was recently launched.
Do you think a new ATH is in view for XRP in the near future? Share your views with us in the comments below.
The post Will Venture Capitalists Behind Ripple Prop Up XRP Price? appeared first on Coingape.
Source: CoinGape

XRP is 10X Safer than Fiat for Cross-Border Payments

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XRP is 10X Safer than Fiat for Cross-Border Payments
Ripple insists that XRP is 10 times safer for making international payments that fiat currencies that today are still a more popular option.
XRP is 10X Safer than Fiat for Cross-Border Payments

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Source: CoinSpeaker

Bank of America Tests Ripple’s DLT but Has No Plans to Use XRP Yet

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Bank of America Tests Ripple’s DLT but Has No Plans to Use XRP Yet
Without loud announcements, Bank of America has conducted testing of Ripple’s distributed ledger technology. And it may seem that it won’t stop at this stage.
Bank of America Tests Ripple’s DLT but Has No Plans to Use XRP Yet

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Source: CoinSpeaker

Ripple Makes Inroads into Europe by Making Yet Another Acquisition

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Ripple Makes Inroads into Europe by Making Yet Another Acquisition
Ripple Labs Inc has made a little-known but significant acquisition – Iceland-based of Algrim, which is a cryptocurrency trading firm with small but mighty talent pool.
Ripple Makes Inroads into Europe by Making Yet Another Acquisition

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Source: CoinSpeaker

New Petition Wants Ripple to Stop Dumping XRP into the Market

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New Petition Wants Ripple to Stop Dumping XRP into the Market
A new petition requires Ripple to stop dumping XRP which could ensure a stronger demand for the coin and would let its price grow naturally.
New Petition Wants Ripple to Stop Dumping XRP into the Market

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Source: CoinSpeaker

Ripple (XRP) Prices in Consolidation Mode Despite Institutional Demand

Ripple (XRP) prices are firm above 30 cents
XRP sales in Q2 2019 topped $251 million

Ripple’s Q2 2019 XRP market report is enlightening. Revealing the level of XRP demand, investors now know that institutions form the bulk of buyers. In the medium-to-long term, this will help strengthen bulls targeting 50 cents and 80 cents respectively.
Ripple Price Analysis
Fundamentals
Before shifting strategy, Ripple’s solutions were meant for institutions. As a distributed ledger technology firm with interests in global payment, their decision to focus on individuals is proving to be a stroke of genius. Not only are they positively impacting livelihoods, but statistics reveal that deep-pocketed institutions are interested with XRP.
The coin is both a utility and a liquidity agent, useful for xRapid. Hints of demand were made clear from the recent market report, detailing Ripple’s progress in Q2 2019. Emerging from the brief is the irrefutable interest of XRP from institutions.
For example, in Q2 2019, the total sale of XRP rose by 48 percent to $251 million from $169 million of Q1 2019. From this, the demand from institutions was 73 percent of the total sales.
In summary, these are Q2 2019 highlights as drawn from the XRP market report:

The overall market capitalization of digital assets sharply increased in Q2.
Ripple sold $251.51 million XRP in Q2 2019 and is substantially reducing future sales of XRP.
Given the concerns about overstated market trading volumes, CryptoCompare will be Ripple’s primary benchmark for XRP market volume going forward.
Three billion XRP were released out of cryptographic escrow, 2.10 billion returned to escrow.
XRP is now listed on over 130 exchanges worldwide.

Candlestick Arrangements

From an investor’s perspective, the involvement of institutions is unequivocally bullish. Besides, Ripple’s plan of improving transparency is a big plus.
Therefore, while XRP is flat-lining but trending above 30 cents, Q2 2019 report could shape investor sentiment. In that case, prices may correct higher in line with previous XRP/USD trade plans. Presently, there is liquidation pressure but XRP buyers are resilient.
As such, every retracement is an opportunity as reiterated before. For the risk-averse, trend continuation will be valid once prices edge past 40 cents, ideally boosted by above-average participation.
In light of this, aggressive traders can buy the dips with a fitting stop-limit just below 30 cents. The first target will be 40 cents. On the flip side, sharp losses below Q1 2019 primary support with high trading volumes would trigger a precipitous fall to 20 cents.
Technical Indicators
Because of the above, July 10 bear candlestick is leading. It pierced below the 40 cents support, now resistance. Furthermore, it is unique with high trading volumes of 40 million. As a result, any surge above 40 cents, ushering bulls, ought to be with high participation with similar or better trading volumes.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
The post Ripple (XRP) Prices in Consolidation Mode Despite Institutional Demand appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ripple’s Asheesh Birla requests SEC’s Hester Peirce for a timeline on bringing clarity to crypto-regulations

Cryptocurrency regulations in the U.S. have been nothing but tough for both the SEC and the companies working on cryptocurrencies. Companies like Ripple, whose products involve the usage of cryptocurrencies, have regularly faced setbacks in terms of innovation due to a lack of regulatory clarity. At the Fortune Brainstorm tech event, Ripple’s Asheesh Birla asked […]
The post Ripple’s Asheesh Birla requests SEC’s Hester Peirce for a timeline on bringing clarity to crypto-regulations appeared first on AMBCrypto.
Source: AMB Crypto

Exclusive: IBM Blockchain’s Todd Scott on Maersk, World Wire and Food Trust

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Exclusive: IBM Blockchain’s Todd Scott on Maersk, World Wire and Food Trust
Todd Scott, vice president of IBM Blockchain Global Trade spoke about blockchain projects IBM is engaged in as well as IBM’s cooperation with Stellar. He also said that Wold Wire will enable the use of stablecoins, and much more.
Exclusive: IBM Blockchain’s Todd Scott on Maersk, World Wire and Food Trust

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Source: CoinSpeaker

Ripple: SendFriend’s xRapid-powered remittance service to the Philippines goes live

The Philippines has been one of the key focus areas for Ripple, one of the world’s leading fintech firms. The firm that utilizes XRP to settle cross-border payments, which is faster, cheaper and frictionless than other service providers, partnered with SendFriend in order to establish a proper base in the country. The reason behind Ripple’s […]
The post Ripple: SendFriend’s xRapid-powered remittance service to the Philippines goes live appeared first on AMBCrypto.
Source: AMB Crypto

Ripple Ambitious, XRP Prices Break Out From A Bull Flag

Ripple (XRP) bullish after June 22nd price rally
Over the counter (OTC) XRP trading and non-disclosure agreement could be limiting bullish price action. 

Relative to BTC or ETH, XRP is lagging. Even though there is Libra and much hubbub about MoneyGram, bulls will begin to show their faces once again once there is a close above 50 cents.
Ripple Price Analysis
Fundamentals
The cryptocurrency landscape can be overwhelming. Complex and multifaceted, the so-called “cryptosphere” is an amalgam of diverse fields. As a result, crypto and blockchain is a melting pot. Armed with clashing opinions, analysts are always at loggerheads.
Despite the diversity in the cryptocurrency asset class, most prefer investing in Bitcoin. However, XRP is breaking away from BTC’s influence. Acting as a base asset for most crypto-to-crypto trading pairs, BTC has a direct correlation with most digital assets. But, as mentioned, XRP is gradually pulling away.
Confined in a trading space for the first half of the year, XRP is ranging and likely undervalued. Even though recent events could catalyze participation by bulls, attracting investors to the third largest asset, most are skeptical.
Because Ripple controls most of XRP in circulation, there are claims of centralization — and even manipulation as some suggest Ripple tries to keep prices as low as possible. That and countless non-disclosures with partnering financial institutions buying XRP through over-the-counter exchanges, supply-demand statistics are not readily available.
It is only after Ripple’s decentralization strategy is fully implemented that market forces would satisfactorily price XRP.
Candlestick Arrangements

Even so, XRP demand is up at the time of writing. Changing hands at 46 cents and 16.1% higher from last week’s settlement price, bulls are vibrant. Regardless of liquidation of the last 24 hours, the path of least resistance is northwards. It is easy to see why.
First, notice that XRP is trading within a bull flag, within May 2019 trade range. However, before today’s stagnation, June 22nd breakout above the resistance trend line, at the back of high trading volumes, signal buyers.
In that case, risk off traders can buy the retracements while aiming at 60 cents. Meanwhile, if buyers build up momentum leading to a close above May high at 50 cents with equally high participation, conservative traders can buy the breakout. Targets will be at 80 cents and $1.40.
Technical Indicators
Anchoring this XRP/USD trade plan is June 22 bull candlestick. Reflecting its significance is participation at 113 million.
Therefore, any breakout above 50 cents or confirmation of the leading bar, thrusting prices over and above 43 cents ought to be with better trading volumes exceeding 113 million.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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SendFriend Launches XRP-based Cross-border Payments in New Jersey

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SendFriend Launches XRP-based Cross-border Payments in New Jersey
SendFriend incorporates Ripple’s xRapid software to enable Filipinos in the US to cut costs while sending money back to the Philippines in seconds instead of days.
SendFriend Launches XRP-based Cross-border Payments in New Jersey

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Source: CoinSpeaker

Latin American banks test Ripple’s xCurrent payment solutions; eyes XRP-based xRapid solutions

Facebook’s announcement of Libra has allowed cryptocurrencies to gain mainstream attention, inadvertently helping Ripple, suggested Brad Garlinghouse during the recent Brainstorm Finance 2019 event. In a recent development, Latin banks – Banesco Panama and Scotiabank Chile have reportedly run proof-of-concept for cross-border payments with Ripple. According to iupana, Banesco Panama is aiming to use blockchain technology […]
The post Latin American banks test Ripple’s xCurrent payment solutions; eyes XRP-based xRapid solutions appeared first on AMBCrypto.
Source: AMB Crypto

Up 15.1%, Ripple (XRP) Likely To Emulate BTC’s Performance

Ripple (XRP) up 15.1 percent
Widespread use of xRapid is the only insurance for XRP investors

Armed with solutions that speed up processes, Ripple may replace SWIFT. Use of xRapid draws demand. For XRP investors, widespread adoption is the only route for better prices. Expectedly, demand for XRP will fuel the next wave, propelling prices out of this 10 cents range towards 60 cents or higher.
Ripple Price Analysis
Fundamentals
There is hype around Libra and Facebook’s Libra. Supporters argue that Ripple will  weather through Libra disruption and cement its position as a cheaper alternative for the unbanked. Given the edge that Ripple as a platform has like speed, the entry of Libra will no doubt be a game changer.
However, countering Facebook’s broad base, Ripple will capitalize on their growing number of banks and payment processors. Aware that Libra could disrupt existing financial and money transfer landscape, Ripple could offer a way through.
MoneyGram is indisputably a selling point. Despite struggling with finances, leveraging xRapid will be the turnaround for MoneyGram investors. The option is speedy, efficient, and above all, equally beneficial for XRP investors in that demand will mostly stem from their operations.
Furthermore, through Xpring, is financing startups that are actively building use case around XRP. Wietse Wind and Stefan Thomas are rolling out products that in the long run, allows XRP not only to be a bridge currency but as a medium of exchange.
Candlestick Arrangement

Price wise, XRP bulls are on a roll. Even though they are struggling below 50 cents, there is a notable spike in activity. Catalyzing this are external events like the rise of BTC and fundamental factors favoring xRapid use.
From the charts, it is essential that bulls generate enough momentum, thrusting prices above 50 cents with high transaction volumes. After all, XRP is technically bullish if dissection is from a top-down approach.
Note that XRP prices are oscillating within the week ending May 19th bull candlestick. Instead, the bullish bar is also within the trend defining Sep 2018 candlestick. The failure of bears to wipe out May gains a hint of underlying demand. As such, aggressive traders can load up in readiness for a probable close above 50 cents with targets at 60 cents and higher.
Technical Indicators
Trading volumes matter in this trade plan. Revealing the correct trend and willingness of participants, it would be perfect if the rally past 50 cents is with high trading volumes exceeding 94 million of May 30th. That will surpass current averages of 32 million as bulls commit.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Ripple executives discuss the need for XRP and on-demand liquidity in RippleNet

Ripple has been known to create waves when it comes to making money flow like information does – smoothly. They’ve achieved this through the use of blockchain technology and cryptocurrency, XRP. RippleNet is a web of all the users that can move money around without massive friction by the use of Ripple’s xCurrent, xRapid, and xVia.
In the recent episode of Ripple Drop, Pegah Soltani, Ripple’s Senior Market Intelligence Manager, spoke about RippleNet and said that SMEs and other individuals who have problems gaining access to global payments can make use of RippleNet, without friction.
She added:
“In small business payments and market place payout is where we see the most opportunity; It is a $10 to $15 trillion market growing at a 5-10% per year. And in emerging markets where the pain points are the highest and the customers are least well-served, is where we think we can double-down on.”
Kevin Mole, vice president of product marketing spoke about on-demand liquidity and how XRP plays a huge role in the same. He also outlined how liquidity can solve problems of legacy payment systems.
Mole said:
“On-demand liquidity is the way for customers to send fast, low-cost payments, without having to pre-fund destination accounts. On-demand liquidity puts XRP in the middle of that payment, from one country to another.”
Ripple’s xRapid makes use of XRP as a way to source liquidity to facilitate the transaction. Since XRP Ledger allows settlement of transactions in under 5 seconds, the cross-border payments typically take about the same time to complete a transaction. However, traditional payment methods require banks to have Nostro-Vostro accounts which needs massive amounts of cash to be stored as liquidity. xRapid takes away all that and makes a cross-border transaction happen within seconds, which otherwise would normally take days.
Mole further added that on-demand liquidity was currently between Mexico and the Philippines and that more corridors for the same would develop over the course of 2019.
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Source: AMB Crypto