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Ripple News

Rіррlе Hаtе: Iѕ Ripple a Wоlf іn Shеер’ѕ Clоthіng?

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mich bit34 1 - Rіррlе Hаtе: Iѕ Ripple a Wоlf іn Shеер’ѕ Clоthіng?

Cryptocurrency purists have always judged new соіnѕ by a fеw іmроrtаnt fасtоrѕ. On top of thаt list has always been dесеntrаlіzаtіоn. Hоwеvеr, one оf thе bigger соіnѕ in the сrурtосurrеnсу mаrkеt hаѕ been hiding іn plain ѕіght with іtѕ сеntrаlіzеd nature. But, its rесеnt bооm thаt ѕаw іt finish last уеаr аѕ оnе оf tор реrfоrmіng crypto аѕѕеtѕ hаѕ seen it garner a lоt оf hate.

 

Whаt is саuѕіng thіѕ Ripple in thе market?

Ripple, a token сrеаtеd bу thе соmраnу of thе ѕаmе nаmе thаt аіmѕ tо fасіlіtаtе trаnѕfеrѕ bеtwееn major fіnаnсіаl соrроrаtіоnѕ. In thіѕ gоаl, it hаѕ ѕееn muсh ѕuссеѕѕ over 2017 with a fеw mаjоr banks partnering with it.

 

Dеѕріtе working wіth central banks, іt іѕ the сеntrаlіzеd nаturе that has mаnу up іn аrmѕ. When thе ѕуѕtеm wаѕ created іn 2013, thе development tеаm rеmоvеd many оf the kеу fеаturеѕ you fіnd іn mоѕt оthеr cryptocurrencies.

 

Thіѕ was done in ѕо thаt thе tоkеn соuld bе gеаrеd towards these major fіnаnсіаl іnѕtіtutіоnѕ, which іѕ fіnе and рrоbаblу nесеѕѕаrу, but іt becomes problematic whеn Rіррlе іѕ соuntеd in thе ѕаmе breath аѕ Bitcoin аnd other very dесеntrаlіzеd dіgіtаl сurrеnсіеѕ.

 

Rіррlе іѕѕuеѕ іtѕ tоkеn in a centralized fаѕhіоn, unlike оthеr соіnѕ whісh are mіnеd аnd іnсеntіvіzеd bу реорlе dеdісаtіng computing power tо accumulate thеm.

 

“It’ѕ nоt a сrурtосurrеnсу”

Mаnу in thе соmmunіtу, іnсludіng сrеаtоrѕ of оthеr соіnѕ, hаvе ѕlаmmеd Rіррlе’ѕ dеfіnіtіоn as a сrурtосurrеnсу.

 

“For the most раrt, I’m not fruѕtrаtеd оr angry wіth Rіррlе, I’m fruѕtrаtеd wіth thе community’s gеnеrаl lасk of knowledge these days (i.e., Rіррlе is a ѕуmрtоm, but nоt thе рrоblеm іtѕеlf),” Rеddіt user thіеflаr, a mоdеrаtоr оf thе Bіtсоіn ѕubrеddіt, tells Invеrѕе.

 

“Thе fact thаt Ripple іѕ lаbеlеd аѕ a “сrурtосurrеnсу” аnd іnсludеd оn ѕіtеѕ like CoinMarketCap hаѕ bееn, for thе most раrt, ѕееn аѕ mіѕlеаdіng and іnассurаtе fоr mаnу years now,” thieflar аddѕ.

 

Mаkіng Rіррlеѕ

Dеѕріtе thе mіxеd оріnіоnѕ оf Rіррlе, it ѕtіll made big gains іn 2017, going uр 36,000 реrсеnt. Thіѕ саuѕеd іt’ѕ mаrkеt cap to рuѕh thе соіn uр to second on Coinmarketcap fоr a реrіоd.

 

However, even thіѕ accolade hаѕ bееn ѕlаmmеd.

“It ѕееmѕ lіkе the multiple-year-long сrурtосurrеnсу bull-mаrkеt eventually rеасhеd a point whеrе newcomers have bееn buying іndіѕсrіmіnаtеlу, nоt understanding аnуthіng about what thеу are buying other thаn ‘іt’ѕ a crypto соіn so уоu саn make mоnеу wіth іt,’ аnd Ripple mаnаgеd tо gеt саught up in thе madness,” thieflar соntіnuеѕ.

 

The rеѕроnѕе?

Intеrеѕtіnglу, Rіррlе іtѕеlf agrees thаt іt ѕhоuld nоt bе bоught indiscriminately to trу and make mоnеу оff the gаіnѕ.

 

“Prіvаtе еxсhаngеѕ аnd lіԛuіdіtу providers mау сhооѕе to hоld additional XRP fоr trаdіng. Rіррlе (thе соmраnу) dоеѕ not рrоmоtе XRP аѕ a ѕресulаtіvе investment,” it іѕ stated іn their gаtеwау guide.

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Ripple News

Ripple Faces A Strong Resistance, Could Decline Below $0.2700

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Ripple faces a strong resistance towards the $0.2740 and $0.2760 against the US dollar and the price could continue to drop lower unless there is a stronger price break above $0.2760 as we are reading further in the XRP news.The significant bearish trend line for the altcoin is still close to the $0.2753 on the hourly charts of the XRP/USD pair. The price of XRP is trading below the key resistance levels against the US dollar and could extend the decline in the near term. This week, Ripple got stuck in the downtrend below the $0.2850 pivot level against the USD and the pair even broke many support levels near the $0.2780 and managed to settle below the 100 hourly simple moving average.The last price decline slowed down below the $0.2700 and the price traded to a new monthly low at $0.2668 which later ended up with an upside correction above the $0.2700 level. However, Ripple faces strong resistance near the $0.2760 and the 100 hourly SMA. A new high level formed near the $0.2763 so the price is now declining meaning that XRP is trading below the $0.2720 level and is testing the 50% Fib retracement level of the upward move from the recent $0.2668 high.Looking at the downside, the support is very closer to the $0.2700 level and besides the 61.8%  Fib retracement level of the upward move from the previous $0.2668 level is also nearing the $0.2700 area. If there is another downside break below the $0.2700 support so the price could go to the $0.2665 support level. If any further losses go further, XRP’s price could reach the $0.2600 area. The next key support area will be met at the $0.2540 level.Ripple faces a strong resistance near the $0.2740 level as well and this week’s significant bearish trend is stronger with a close resistance near the $0.2735 on the hourly charts for the XRP/USD pair. By looking at the charts, the price of XRP is trading in a bearish zone below the $0.2760 resistance area and for this reason, there is a huge risk of a bigger downside below the $0.2700 and $0.2600 unless the bulls get stronger and push the price back above the $0.2760.
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Ripple News

Ripple News Show That XRP Remains At Risk Of More Losses

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ripple news
The latest Ripple updates show that the price of XRP is trading in a bearish zone and is below the $0.2840 resistance against the US dollar. The Ripple news show that the price of the token is struggling to hold the key support area near the $0.2700 level and the bearish trend line ignited yesterday is active once again with resistance near $0.2800 on the hourly chart of the XRP/USD pair.In the past couple of hours, we saw an increase in selling on Ripple (XRP) below the $0.2840 resistance area against the US dollar. XRP/USD mostly followed a bearish path below $0.2800 and the 100 hourly simple moving average.Additionally, the price of XRP moved below the last low and traded to new weekly lows near $0.2682. Right now, the price is correcting higher above $0.2720 and the break above the 23.6% Fib retracement level made the cryptocurrency rise from $0.2852 to a new low of $0.2682.There are tons of resistances for Ripple (XRP) as we speak. The Ripple news show that anything near the $0.2765 levels is acting as resistance - stretching out to the $0.2780 levels. Besides this, the 50% Fib retracement level of the recent decline from $0.2852 high to a $0.2682 low is near the $0.2765 level.More importantly, the major bearish trend line is active with the resistance put near $0.2800 on the hourly chart of the XRP/USD pair, as we can see from the crypto news today. The 100 hourly SMA is also with a position near the trend line and this price point will act as a new bull barrier.Therefore, a clear break above this trend line (at $0.2800) and the 100 hourly SMA could start a decent increase. The altcoin news also show that the next key resistance is near the $0.2840 level above which there are major chances of more upsides towards the $0.3000 resistance area.The downside gap and the latest Ripple news show an initial support near the $0.2700 level. If we see another bearish break below the $0.2700 support, the price could even decline below the $0.2682 low. The next key support, as predicted, is near the $0.2650 and $0.2640 levels.Looking at the chart following the Ripple news, we can see that the price of XRP is clearly trading in a bearish zone below the $0.2800 and $0.2840 resistance levels. A convincing close is a must right now for the price to move into a bullish zone.
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Ripple News

Moneygram’s US-Mexico Business Is Crypto Enabled By 10%

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moneygram's US-mexico business
Moneygram’s US-Mexico business seems to be enabled by crypto by 10 percent. The act of transferring money from one place to another or better known as remittance is one of the heavyweights of a market but the blockchain technology aims to change how these operations are conducted. Let’s see further in the blockchain news today.The world Bank estimates that in 2016 the global remittance market reached $573 billion and a whopping $422 billion went to developing countries. Blockchain technology is already well-suited for securely transferring money around the world and the same technology powers Bitcoin and holds great implications for the world’s remittance business.Ripple is among the first crypto platforms that have been lurking at this industry for a while now through a fintech lens and its On-Demand Liquidity platform. XRP has been a part of how the mainstream remittance company Moneygram operates since August of this year. Speaking at the Ripple Swell conference, Moneygram’s CEO Alex Holmes announced to the public that Moneygram’s US-Mexico Business happens with the help of Ripple’s On-Demand Liquidity up to 10 percent.The blockchain-positive announcement on Ripple’s website calls for much more attention to the statistics. The existing prospects of crypto technology can account for about 10 percent of how major remittance companies do business between the two countries. Holmes explained further into detail on how the business is actually conducted:
 “The 10% relates to the ODL (On-Demand Liquidity) platform and represents the percent of our Mexican peso volume that we trade. We take USD and buy Mexican pesos. We continue to work with Ripple to build liquidity. We now have four new corridors we are starting, including the Philippine peso and Australian dollar. True success will be determined by others joining the platform, so it’s early days.”
Holmes did not want to reveal the size of Moneygram’s US-Mexico business but he seemed pretty happy to talk about the potential of the technology and how it will bring ease in the international transactions process to the new countries. Ripple’s technology, on the other hand, is also known to be among the best remittance services in the crypto industry with great partnerships around the globe.
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Ripple News

Worst Performing Major Coin Of The Day: Ripple’s XRP

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The worst performing major coin of the day is officially Ripple’s XRP while Tezos (XTZ) became the best-performing asset among the top 100 by market capitalization yesterday. Let’s read more in the Ripple XRP news today.Though the week was extremely busy for Ripple, the recent news doesn’t seem to have a positive influence on the price of the 3rd cryptocurrency by market capitalization. Looking at the 10 coins only, Ripple is one of the three coins that dropped in the past week and the drop is the largest by far. Bitcoin dropped by 0.67 percent and Bitcoin SV by 0.03 percent. The worst performing major coin seems to be XRP which saw a 4.41% drop and it also took another plunge in the past 24 hours with a 6.33 percent drop.Among the coins that dropped in the top 100 categories, XRP is now at the 12th place over the seven-day time frame and in the fourth place in the past 24 hours. As a matter of fact, on November 7, the altcoin saw the highest price in the last 30 days of USD 0.31 and fell by more than 6 percent the same day. It also recovered slightly and continued to fall to the current price of $0.27. There were also a number of announcements lately and moves that Ripple made especially in October.It has seen an increase in client base by 50 percent this year only while 7 percent of those use XRP for cross-border liquidity. Recently the studies showed that while Ripple led the market since 2012, the competition between them, IBM and VISA is heating up when it comes to blockchain innovation and cross-border payments. Ripple’s Outspoken CEO Brad Garlingouse also promoted the blockchain multiple times and its services based on XRP. He also said that there are too many cryptos and that the market will be even more volatile but also that Bull Run is coming for the entire market.Before this, Ripple rebranded the website and released a sequel to their popular crypto ad as a part of the new brand awareness campaign and it even saw the Japanese financial giant SBI holdings praising XRP and the company found that when it comes to cross-border transactions, XRP is less volatile than fiat.
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