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Ripple News

It’s Official: Coinbase Pro Adds Ripple (XRP) Support

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Top 10 Coins Are Still Idle

In today’s crypto news, we are focusing on Coinbase Pro which is the professional offering of the US-based crypto trading platform and wallet service Coinbase – and its recent decision to add support for another altcoin.

Ripple (XRP) is this time in the focus. As Coinbase Pro announced in an official blog post, the development started weeks ago and will allow the platform to accept deposits of XRP for a minimum of 12 hours before enabling the full trading option. Coinbase also noted that it will first establish the needed liquidity on the platform and open trading pairs in US dollars, followed by Euros and Bitcoin (BTC) in multiple phases in the future.

Full trading of XRP is expected only to customers in the US, Canada, the European Union, the United Kingdom, Australia and Singapore. However, Coinbase may expand the services to other countries in the near future.

Another important thing to mention is that the XRP trading will go through four stages, including “transfer only,” “post only,” “limit only,” and “full trading.”

While the first two stages enable users to transfer XRP to Coinbase Pro accounts and post their limit orders, the other two will allow customers to match the limit orders and fully trade with XRP.

This announcement was long-awaited by the crypto community.

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Ripple News

Ripple-Hosted Swell Conference Causes Underwhelming Price Pump

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Ripple-hosted
Ripple-hosted Swell-conference usually spikes the price of the altcoin but this time, it did an underwhelming boost for the price as we are about to see in the analysis in the ripple cryptocurrency news.Each year, the Ripple-hosted Swell conference causes a strong XRP price pump which leads to an increase in the price which eventually corrects in the post-event sell-off back to normal price ranges. This year, the pump was extremely underwhelming and according to one crypto analyst, the conference amounted to nothing more than a bearish retest that was rejected, only signaling that XRP may have a lot further to drop.The annual conference is considered as a gathering of the finest minds in the financial sector and the payments space which puts a central focus on the company’s products and services as well as Ripple protocol’s native cryptocurrency token-XRP. Over the past year, the conference acted as a stage for big names like the ex-President Bill Clinton and the former FED chairman Dr. Ben Bernanke and Sir Tim Berners-Lee, who is often considered to be the inventor of the world wide web.With so much buzz expected from the event, the investors started loading up on XRP in advance of each year's event thus causing the price of the asset to increase as well. This year was no different and the price of the token increased from the fresh bear market low at 21 cents for each XRP to as high as 31 cents before the asset was rejected since the sell-off began. The resulting Swell pump and further rejection according to one crypto analyst, was nothing more than just a bearish retest of the diagonal support turned resistance and not that the altcoin has been diverted from the key resistance on high timeframes, XRP is now again at risk of falling much further.Interestingly, the support where the Ripple Swell pump was rejected from also coincided with the 50-week and 200-week moving averages but the altcoin was unable to close a weekly candle above either of the key moving averages. Bellow the current price levels, the horizontal support lies at about 14 cents per XRP which is a support level dating back to 2017 bull’s market.
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Ripple News

Multiple XRP Accounts Linked To ‘’Dirty’’ $400 Million

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multiple xrp accounts
Multiple XRP accounts got linked to about $400 million worth of dirty money which were related to illicit activities according to Elliptic, a London-based blockchain startup as we are reading further in the Ripple XRP news below.As per Tom Robinson, Chief Scientist co-founder of Elliptic:
"We began researching XRP more than a year ago and have already identified several hundred XRP accounts linked to illicit activity ranging from thefts to scams and the sale of stolen credit cards.’’
The $400 million worth of XRP linked to the multiple XRP accounts for illegal activity is less than 0.2% of the total transactions on the network. The coin is now in third place by market capitalization which now stands at USD 10.9 billion. The illicit amount found would make up to 3.7% of its market capitalization. Elliptic launched the beta version today of its transaction monitoring support for XRP with full support expected at the start of December. The goal is to enable the financial institutions and businesses to screen all of the XRP transactions and detect if any are related to criminal activity or any sanctioned entity.The criminal use of crypto assets is increasing and as per Robinson, by exposing it, the financial institutions will gain ‘’the confidence they need to engage with the crypto ecosystem.’’ Ripple’s XRP is getting a lot of popular financial institutions and some of the banks in the Asian Pacific region and this type of approach could also push the global adoption further. At the time of writing, XRP is trading at $0.25 and it is up 0.4% in a day but 7.4% in a week.At the start of September, the startup published a report where you can read that the overall impact of Bitcoin and other cryptocurrencies regarding money laundering and other crimes is sparse in comparison to the cash transactions. When it comes to the most popular cryptocurrency-Bitcoin, Elliptic explained that up to 829 million worth of BTC was spent on the dark web which represents 0.5% of the transactions on the network. Elliptic found that:The money service business could be unclear about the role in preventing crime on the blockchain which may end up now knowing how to implement vital anti-money-laundering processes. Money laundering can also be prevented with some other tools that match the customer data with Bitcoin transaction histories.
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Ripple News

Crypto Forensics Firm: $400M Of XRP Tokens Were Used For Illicit Activities

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crypto forensics firm
One analytical and crypto forensics firm named Elliptic has recently tied around $400 million worth of XRP tokens to illegal transactions, the latest Ripple news show.As a press release published on November 20 unveils, the firm indicated that the "$400m of illicit activity identified by Elliptic represents less than 0.2% of total XRP transactions, demonstrating that the vast majority of activity is legitimate.”The crypto forensics company started analyzing the XRP token over a year ago and has so far identified that hundreds of XRP accounts are related to illegal trading activity. This includes anything from thefts to the sale of stolen credit cards, as the release adds.When commenting on the findings, Tom Robinson who is the chief scientist and co-founder of Elliptic said:
"As criminal use of crypto-assets such as XRP evolves, we are committed to shining a light on this illicit activity, giving financial institutions the confidence they need to engage with the crypto ecosystem. XRP is gaining increasing traction in the APAC region among financial institutions and banks."
The crypto forensics firm also said that the findings were revealed as part of the introduction of the beta version of the transaction monitoring support for XRP. This apparently enables clients to check if a transaction is linked to criminal activities or any sanctioned entities. The analysis shows that Elliptic conducts ongoing dark web research, identification of money laundering patterns as well as data which links XRP accounts to known entities.Recently, the blockchain analytics firm Chainalysis was in the cryptocurrency news when it launched alerts for suspicious transactions across 15 major cryptocurrencies. As the firm noted, this tool is meant to help crypto exchanges and other financial institutions to mitigate their regulatory as well as reputation risks.Even though the cryptocurrency companies try to incentivize the network integrity by setting up bounty programs with rewards, the crypto forensics firm model is trying to unveil everything about the (illegal) use of cryptocurrencies nowadays. As industry members such as John McAfee think, authorities need to require cryptocurrency companies and trading platforms to help them control the digital currency use - especially in illicit activities.Meanwhile, the price of XRP today is relatively stable in the $0.2530 region.
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Ripple News

XRP Price Is Trading Near Crucial Juncture: Can The Bulls Make It?

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xrp price is trading
The XRP price is trading near a juncture, currently correcting higher and now trades above the $0.2520 area against the US dollar. In the latest cryptocurrency news today, we can see that XRP is approaching a major resistance area near the $0.2600 level.This week's crucial bearish trend line is intact and we can see resistance near $0.2600 on the hourly chart of the XRP/USD pair. Ethereum (ETH) is also correcting higher and while the XRP price is trading near a crucial juncture, the ETH updates show that the largest altcoin is facing strong resistance near $180, too.Over the past couple of days, we saw a sharp decline in the value of Ripple below the $0.2500 support area against the US dollar. Moreover, the XRP/USD pair broke the $0.2450 support area and started settling well below the 100 hourly simple moving average.As the XRP news today show, the XRP price is trading badly which started when it tested the $0.2400 support area and started an upside correction - only to fall later that day. Ripple is now trading above the 50% Fib retracement level of the downward move from the $0.2660 high to the $0.2400 swing low.We can see a major resistance near the $0.2580 level on the upside and the 100 hourly simple moving average. On top of this, the 61.8% Fib retracement level of the downward move from the $0.2660 high to $0.2400 swing low seems to be preventing gains. The main resistance on the upside is right now near the $0.2600 level.This week's crucial bearish trend line is intact as the XRP price is trading with a struggle. Therefore, a clear break above the $0.2580 and $0.2600 might push Ripple's XRP token back into a bullish zone.In such a scenario, the price will likely rise to the $0.2720 and $02750 resistance levels. Conversely, the price might struggle to hit the $0.2600 resistance and start a fresh decline. For what we know now, an initial support is near the $0.2520 level followed by $0.2500. The XRP price is trading at $0.2531 with 0.20% gains at press time.Looking at the charts, we can see that Ripple is nicely correcting but the bulls are clearly facing an uphill task near the $0.2580 and $0.2600 resistance levels. If they fail to gain momentum above $0.2600, the decline can continue.
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