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Ripple News

‘MoneyTap’ By Ripple: The Consumer-Centric Retail Payments App Goes Live In Japan

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The app named MoneyTap is in the latest cryptocurrency news, after being accepted in Japan by a consortium of 61 banks, which are responsible for over 80% of the country’s banking assets. The app is rolled out by the company behind the XRP altcoin, Ripple, and uses its blockchain technology.

First introduced in a tweet by Ripple’s own profile on Thursday, the fintech company confirmed the app and its live version seven months after its initial announcement earlier this year. For the ones that don’t know, his app is a product of SBI Ripple Asia, which is a banking consortium that launched in 2016 with the main aim of leveraging Ripple’s blockchain technology for domestic bank transfers within the country.

The smartphone app also allows real-time and 24/7 domestic money transfers using xCurrent which is Ripple’s enterprise blockchain network, according to the published details from the app’s website.

MoneyTap will trigger payments with the use of a simple QR code or the recipient’s phone number via the app, supporting both iOS and Android platforms. With the launch, the app is also officially supported by three banks – Suruga Bank, Resona Bank, and SBI Net Sumishin Bank, mostly because of the zero-fee transfers between these banks.

The app is designed to be quick and allow small-amount remittances in a service that will help the life of everyday residents. The maximum transfer amount is limited to ¥30,000 (approx. $262) per transaction and a top of ¥100,000 ($875) per day.

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Ripple News

Ripple Gains Four New Members To Regulatory Team

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Ripple gains four new members to the global regulatory team and the company also announced that they will be joining the Blockchain association as we are reading further in the XRP news today.The San Francisco-based blockchain startup announced today (Oct.22) that they onboarded four new members including Michelle Bond, Craig Phillips, Ron Hammond, and Susan Friedman- to the global regulatory team which is based in Washington D.C. Bond will also sit on the board of the Blockchain association. Phillips joined Ripple from the United States Treasury Departemtn where he served as a Counselor to the Secretary and also worked on the executive order 13772 which is a presidential executive order that establishes series of standards designed to manage regulatory action that has an impact on the financial sector. At Ripple, Phillips will advise on a strategic regulatory opportunity.Before Ripple, Bond served as the global head of policy at blockchain and head of global regulatory affairs and public policy at Bloomberg. Bond was also a Senior Counsel at both the US Senate Banking Committee and the Securities and Exchange Commission. Friedman worked as the Senior Advisor to the CFTC Chairman Heath Tarbet as the Treasury’s Assistant Secretary for International markets while at Ripple she will serve as the international policy counsel. Ron Hammond joined Ripple as a manager of government relations after he finished working as a Legislative Assistant to Representative Warren Davidson.It’s great that Ripple gains great members with a lot of experience and the membership in the Blockchain Association will also put it in contact with many of the regulators that are working in the crypto space. The Association is a non-profit one that consists of plenty of blockchain advocates and promotes the adoption of blockchain technology around the globe. As it was previously reported, Ripple’s XRP went through a rebranding phase as it fused three of its services- xRapid, xCurrent and xVia into the RippleNet offering. The company truly believes that moving from a suite of services to offer a real network to its customers is only a natural evolution of its strategy due to the growth of the user base and the further development.
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Ripple News

Ripple Introduces New Ad Promoting Global And Instant Payments

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The latest Ripple news show that the company is working on multiple projects full steam. As of today, we can see that Ripple introduces its new advertisement which promotes global and instant payments. This time, however, the company does not make fun of the current global financial system.As a California based cryptocurrency startup that is focused on payments and technologies, Ripple is back with another "new brand awareness campaign" as their Twitter post reads. The campaign is being promoted in two countries.https://twitter.com/Ripple/status/1186381350120509441Based on the ad which Ripple introduces, the two countries are Japan and Thailand. The YouTube video description also explains the company's intent further, noting that “Ripple's latest commercial [is] highlighting common examples of how our customers' customer benefits from our blockchain-based technology.”On the other hand, the ad focuses on a variety of people in a variety of situations. The situations illustrate how money is needed in different moments and how through the services of Ripple's customers, one can get out of trouble fast. It also opens up with a woman sending USD via Ripple's platform as well as a group of factory workers receiving that payment in JPY.The man on the ad yells out "Got it" and the phrase is repeated by everyone, likely symbolizing the ease of transaction. Ripple introduces a young man too, breaking a valuable vase in a Thai museum and his parents rescuing him with an instant money transfer from USD to THB. It also presents a mother and daughter in Japan and how they send money to an elephant rescue group, a fashion designer sending CAD as a payment to his manufacturers in Asia and finally, a confrontation between a bride and a caterer which is resolved with their sister sending payment from outer space (an inside joke in the crypto world) as the wedding continues.Both this ad that Ripple introduces and the previous one were meant to be funny and light in nature, yet emphasizing the how easy and fast is to send funds via Ripple's platform. It seems like both of these goals were successfully achieved. You can watch the Ripple ad below.https://www.youtube.com/watch?v=bSO7BdElRpk
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Ripple News

XRP Still Stuck Beneath $0.30 Despite Highly Active Community

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XRP still stuck beneath the $0.30 despite the highly active community and the millions of coins given away and won’t reach the $1 price range and we find out in the Ripple XRP news below.The digital coin distributed by Ripple is now among the most-talked assets on social media. XRP reached a peak above $3.65 back at the beginning of 2018 before starting the massive crash losing more than 90 percent of its value. The peak prices achieved because the token would only gain adoption and easily command the $5 prices at least until it shot up to $500 when it destroyed bitcoin. Others believe that XRP still stuck stands below the $1 position. The coin is among the worst performers in 2019 and it even failed to recover to a higher price range. XRP peaked above $0.47 and has been sliding ever since.XRP is currently at around 3,000 Satoshi range which is down from the peak at 19,000 satoshi. It is also highly improbable that more people will send BTC to buy XRP so the price rarely moves in line with the latest announcements and Bitcoin attracts many more investors. BTC has even established itself as the leader and Ripple simply does not spike enough confidence. The Ripple company constantly unlocks XRP and sell it in monthly tranches. The sales are happening on OTC markets and are not leading to price slippage however; there are too many XRP tokens that are in the space with many giveaways to banks, individuals and companies. There is also the escrow of Ripple itself as well as an undisclosed settlement with R3.Ripple has been very careful about disclosing the facts around the real XRP necessities and the RippleNET ecosystem was created in that way so it can handle a lot of transactions without using XRP for payments or as a carrying vehicle. The hope that the banks will use the token in their transaction activity will likely never happen. XRP will only be used by its fan-base and its price will be set on the speculations of a few exchanges. Also, the Korean traders lost their enthusiasm for XRP and now we are seeing lower trading activity.
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Ripple News

Ripple Reduced Sales In Q3 2019, XRP Is In The Green

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The latest Ripple news show that the company behind XRP is again in the focus for drastically reducing the sales in the previous quarter of 2019 to $66.24 million which is a drop of 73.66%. Ripple reduced sales in this period and the company said that the XRP sale rate is similar to the inflation rate in Bitcoin (BTC) and lower than the one of Ethereum (ETH) and Litecoin (LTC).Meanwhile, Ripple partnered with Finastra which is the third largest financial services technology firm in the world. The partnership is set to benefit the existing customers of both companies. However, the big question still remains: "Will these positive developments be able to boost the XRP prices?"If we analyze the chart, we can see that Ripple reduced sales and the XRP/USD pair broke above the 20-week EMA but is finding it difficult to sustain above it. However, it has been in the green for the last three weeks which is still a positive sign. The flattening 20-week EMA and the RSI just below this midpoint suggest that the sellers are losing their grip.Above this 20-week EMA, a move to the downtrend line of the descending triangle is possible. This is a major and important level to watch out in the cryptonews, mainly because of the fact that if the bulls can scale it, the bearish pattern will be invalidated.Failure of a bearish pattern is a bullish sign. Hence, if the pair is able to sustain above the downtrend line, a new uptrend is very likely. Meanwhile, while Ripple reduced its Q3 2019 sales, the stats show that XRP is trading with a good vibe.Right now, long-term traders can buy on a close (UTC time) above the downtrend line and keep the stop loss below the recent low. The target objective, as we can see, is a move to $0.76440 with intermediate resistances at $0.5050 and $0.5650 accordingly.Our view will also be invalidated if the pair turns down from the current levels and plummets below $0.22. However, this possibility is not very probable to occur.Meanwhile, the XRP Liquidity Index soared to new all time highs of 3M, according to one analyst and his chart posted on Twitter.https://twitter.com/AlexCobb_/status/1185976077488812032
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