Connect with us
  • Home
  • Start here
  • Bitcoin Charts & More
  • Cryptopedia
  • Advertise
  • Submit PR
CLOSE

Ripple News

Bank Of America Secretly Pilots Ripple Technology

Published

on

bank of america secretly

Bank of America secretly pilots Ripple’s distributed ledger technology and plans to do more with it according to the latest Ripple news that we are about to read below.

The second-largest bank in the United States has quietly tested the ripple technology and Ripple even went ahead to identify the bank as a customer in a presentation during a seminar held by the International Monetary Fund late in 2018. When asked about this, a Ripple spokesperson didn’t deny or confirm whether the bank was indeed treated as a customer but said that the companies have conducted a pilot together:

 “Bank of America has been part of Ripple’s Global Payment Steering Group since 2016 and we did a pilot with them.’’

The spokesperson didn’t provide any further information about the pilot and the Bank of America also declined to comment. It was previously known that the bank is a member of the steering group that advises on rules and standards for RippleNet. However, the news of the pilot is now a very strong indication that the bank’s relationship with the startup goes only a piece of friendly advice. The chief technology officer Cathy Bessant stated that she is bearish on the technology and that the Bank of America’s portfolio of blockchain patents exists only to pivot to the blockchain as quickly as possible. Another sign that the bank is warming to the sector is a job opening that the bank posted earlier this month for a product manager who will lead the team for a Ripple Project. This project is described as a decentralized ledger technology-based solution to cross border payments marketed to the GTS clients.

Ripple’s head of government Saga Sarbhai made a presentation back in 2018 during a seminar by the IMF in Samoa on fintech and the section of the presentation devoted to Ripple’s xCurrent service which includes a slide named ‘’A Snapshot of Our Customers.’’ The logo of the BOA Merrill Lynch appears at the top and more than 15 other financial institutions from around the globe. xCurrent which is the service that the Bank of America secretly tests out does not involve XRP which is Ripple’s token that the company periodically sells to fund operations and powers the xRapid product as we saw in the previous blockchain news.

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments

Ripple News

Ripple Price Gets Under Strong Pressure, Struggles To Move Over $0.2660

Published

on

By

ripple price gets
Ripple price gets under strong pressure and is having a hard time surpassing the $0.2660 resistance level against the US dollar as we are seeing more today in our xrp news.The price is now declining further and it is likely to break the $0.2580 support area.  There is also a strong bearish trend line that is forming around the near $0.2645 on the hourly charts of the XRP/USD pair. Ethereum, on the other hand, will remain at the $180 and $178 support level. The ripple price gets an increasing selling movement below the $0.2650 against the US dollar similarly to Bitcoin and the price could even continue to move below the $0.2600.After the sharp decline below the $0.2600 support line, Ripple recovered from the $0.2521 low against the US dollar and the pair corrected above the $0.2600 resistance level later. However, the price got to a strong resistance near the $0.2660 level and the 100 hourly simple moving average so a close above the 100 hourly SMA didn’t happen which could result in another bearish action.The price broke the $0.2620 support level and Ripple declined below the 23.6% Fib retracement level of the upward move from the previous $0.2521 low. This movement opened the doors for a lot of other losses below the $0.2600 support.  The immediate support is getting close to the $0.2580 level and is connecting a bullish trend line on the hourly charts of the pair. There is also a possible downside break below the trend line support so the price is likely to decline even further below the $0.2570 support.The next major support level will be at the $0.2520 support level which the price could end up breaking to the $0.2500. More losses could lead to the price of XRP to reach the $0.2450 support area. Looking at the price from the upside, there could be a lot of issues towards the $0.2660 level and the 100 hourly SMA. There is also a major bearish trend line forming with the resistance near the $0.2645 on the same charts. Another break above the $0.2660 resistance and the 100 hourly SMA is much needed for a decent upward move.By looking at the charts, the Ripple price could be trading in a bearish zone below the $0.2700 levels and on the downside, it could even reach the $0.2500 support levels which are very important. Any further decline could speed up the decline and the price will struggle to hold the $0.2450 position.
`
Continue Reading

Bitcoin News

Markets Are Recovering But Bitcoin Is Still Near $8,500: Analysis

Published

on

By

bitcoin could reach
This Monday morning, we can see that the cryptocurrency markets are recovering but there are still reds all over and Bitcoin is with a slow momentum near $8,500. The latest cryptocurrency news also show that the weekend was not much positive for BTC as the leading cryptocurrency, as it was dragged even lower than the expected resistance area.For the better part of the day yesterday, the largest cryptocurrency has been trading within a tight range between $8,500 and $8,600 while slowly finding its way in the $8,700 price mark in the recent couple of hours.As markets are recovering, Bitcoin is trading at a price of $8,555 and a 0.36% decline compared to the morning's levels. The cryptocurrency was slowly finding its way towards the $8,700 price mark - but did not manage to do that as its main mission over the weekend.On Friday, the Bitcoin updates showed that BTC attempted to break the $9,000 price level but was swiftly rejected and brought back to lower levels below $8,600 - where it remained throughout the entire weekend.According to the analyst Michael van de Poppe, markets are recovering and the overall bullish sentiment could soon come back. However, he would like to "see a tick up to like $8,800 to confirm a slight trend reversal (like scenario),” as he said, adding:
“If not, this slow bleed could accelerate to $8,200 as the next level. Sentiment; fear. Obviously.”
The Ethereum news also show that ETH is sitting close to $184 per coin and shedded a couple of dollars overnight. The number one altcoin continues to trade in along with BTC and sync in with its price, showing upward price behaviour leading to the current trading position. The momentum for Ethereum at the moment, however, is better than the one for Bitcoin.XRP, which is the third largest coin by market capitalization, has also lost ground in the past couple of days. Still, it joined the trend of minor recovery and posted gains of 0.45% at press time. XRP right now sits at around $0.262 per coin.While the markets are recovering, most of the top 20 coins are showing little to no gains at all. Cardano (ADA) is taking the lead with a 4% growth on the day and a new price of $0.04. Tezos (XTZ) managed to rise by 5% and is now at $1.22. 
`
Continue Reading

Ripple News

Ripple Makes Another Remittance Deal: Will XRP Soar?

Published

on

By

Ripple makes
Ripple makes another remittance deal with the SBI Remit and Vietnam’s TPBank to provide remittance payment services between Japan and Vietnam. The latest partnership will enable the near-instant and low-cost payments with the help of the collaboration between Ripple Labs and SBI holdings as we are reading further in the Ripple news today.The partnership is encouraging for further adoption of the RippleNET and the price of Ripple’s XRP which didn’t move on the news, at least for now. The third-largest digital asset by market capitalization got down by more than 2.75 percent for the past 24 hours. According to the press release, SBI Ripple Asia, SBI Remit and Tien Phong Bank of Vietnam have just launched the first remittance service between Vietnam and Japan with the help of distributed ledger technology. The news comes right after the pair partnering that happened earlier this month.The latest press release announced that the deal will be made at the start of November and explained that the bank had previously implemented a blockchain-based domestic money transfer system with further plans announced to create similar services between Asian nations and Vietnam with the help of RippleNet. The CEO of TPBank stated:
 “Our cooperation with SBI Ripple Asia Co., on the application of blockchain technology in cross border money transfers marks an important turning point in enhancing our customer experience and makes international money transfers via TPBank faster, more convenient and safer than ever before.”
Ripple makes an interesting choice of companies since the representative of SBI Group, Yoshitaka Kitao, praised the progressive stance towards the latest technology but also added that SBI Ripple Asia is now aiming to provide crypto remittance services in the near future:
 “The adoption of RippleNet will further differentiate the company from its competitors. We will also develop remittance services that incorporate crypto-assets in the future.”
Despite the great development, XRP continued to trade along with the wider crypto market and the investors have not rushed to purchase XRP on the news. This could be explained by the fact that the news was announced last week and they could not even affect the price of XRP. The use of the digital asset is an optional feature for the users and when the transfers do use it, there will be an equal volume of purchasing and selling pressure created by the transaction.
`
Continue Reading

Ripple News

XRP Got Down 16% After Swell Conference: Analysis

Published

on

By

xrp got down
XRP got down by 16 percent right after the Swell conference as we are seeing in the XRP news today. What will we see, the continued price fall of XRP or the Ripple’s token can have price recovery?Ripple’s token did not succeed to grow during the impenitently expected Swell conference this year but instead fall by 16% shortly after the conference. Spreading the loss to around 30% the market price of the Ripple’s token is among the few that marked double-digit drop since the start of this year. Use cases and utility were promised by Ripple but this did not gather trading interest.XRP got down and also struggled to hold its price above the $0.30 mark. The conference also did not make any new interest in XRP. The asset’s use case is uncertain at this moment because Ripple Net became the Unified Ripple product where the coin use is not mandatory.Ripple’s coin is traded on small volumes of about $1.7 billion daily, at $0.27. Some of its support was lost as Korean traders deserted highly active speculation, and the asset was left to look for new markets. In the past year, XRP also had periods of relatively no price growth.  In the past XRP had grown miraculously from sub-penny prices, causing a huge commotion. The XRP community is strong like it was never before and bizarre forecasts are made on social media.One of the biggest problems of the XRP’s future price prospects is the potential of having big dumps on the markets. Another reason for the failure of XRP was that all the attention was put on Stellar (XLM), which had fast growth to $0.083. There was also the burning of 55 million tokens by the Stellar Development Foundation with the foal of decreasing inflation of XLM production, and setting a fixed supply for the coin.Bullish recovery is in the realm of possibility, whilst XRP is in a relatively short-term price drop. A $0.30 price range is possible for XRP has shown even after more instantaneous falls. The price levels for altcoins in this time are expressing shocking stability even without an outright “altcoin season”. Possible there are reasons to buy the token at a low price.
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





NEWS CATEGORIES

ADVERTISEMENT

cryptocurrency review
FO5F93F47156 - Bank Of America Secretly Pilots Ripple Technology

ADVERTISEMENT

Medium Rectangle 300 200 2 Animated - Bank Of America Secretly Pilots Ripple Technology

ADVERTISEMENT

oasistrade banner

Join us on Facebook

ADVERTISEMENT

300 250 - Bank Of America Secretly Pilots Ripple Technology

UPCOMING EVENTS RECOMMEND BY DC FORECASTS

december

No Events

FO710FC3F2305 1 - Bank Of America Secretly Pilots Ripple Technology

ADVERTISEMENT

300 600 3 - Bank Of America Secretly Pilots Ripple Technology

Trending Worldwide

Show Buttons
Hide Buttons
X
X