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Retired UFC Fighter Ben Askren Believes XRP Is A Scam

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Retired UFC Fighter

The retired UFC fighter Ben Askren who was most popular for supporting a few several cryptocurrencies in the past, recently stated that he believes XRP is a scam. Let’s find out more about the Ripple XRP news.

XRP is now the third-largest cryptocurrency in the world by market cap and has seen a lot of accusations over the years. The coin was accused of centralization, being a scam, market manipulation, dumping on investors and much more. After a few comments from the parent company of XPR, Ripple, it seems that the debates around XRP’s legitimacy have been put to rest. However, the retired UFC fighter doesn’t seem to think that this is over. He recently posted on his twitter that he believes XRP is a scam.

Askren has had a long history of supporting cryptocurrencies and was often described as the Bitcoin bull to which he accurately predicted that Bitcoin will surpass $10,000 back in early 2019. What is most interesting is that in October last year, he also used Twitter to challenge ‘’crypto geniuses’’ and dare them to explain why crypto is a scam. A few months after that, he started claiming that one of the largest cryptocurrencies which are ripple, is a scam, causing mixed feelings among his followers. Many do share his opinion while others have found that his opinion is uninformed.

As mentioned before, Askren becomes known as a supporter of a few cryptocurrencies but mainly of Bitcoin and Litecoin. He represented LTC by wearing litecoin-branded clothes and he even shared the coin’s progression when the price surged. While he does seem to be a fan of bitcoin, he remains skeptical of XRP. His tweet regarding XRP is pretty much the only time that he had even commented on a coin that is not Bitcoin or Litecoin. He is also far off from being the only one that trashed XRP these days since a similar sentiment was seen by the former Wall Street Trader Tone Vays who became a Bitcoin analyst after he left Wall Street. Vays said that Ripple’s token has no place in the industry.

Vays commented on the XRP coin once even openly calling it a scam coin. He mentioned that he is mostly convinced that Ripple created XRP as a completely fictional utility and he seems pretty sure that the coin is unregulated.

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Ripple News

Ripple Price Struggles To Clear $0.20, XRP Is Vulnerable Now

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The XRP news today show that the altcoin has been having a tough time breaking above $0.20. While no one knows if these attempts are going to continue, we can see that the Ripple price struggles to clear the levels and could extend its decline towards $0.1920 or even $0.1880. In the past two days, we could see how Ripple made a couple of attempts to clear the $0.2025 and $0.2050 resistance levels. However, the cryptocurrency failed to gain strength above $0.2025 and broke the 23.6% Fib retracement level of the recent wave from a $0.1949 low to a $0.2026 high. There was also a noticeable break below a key contracting triangle with support near $0.2000 on the hourly chart of the XRP/USD pair. Speaking of, the Ripple price is now showing a few bearish signs below the $0.2000 pivot level which leads analysts to believe that a decline may be on its way. What's important to consider in the cryptocurrency news today is the fact that the Ripple XRP price is now testing the $0.1985 level of the 50% Fib retracement level of the recent wave from the $0.1949 low to the $0.2026 high. This level is the most realistic at this point and traders hope that it won't be compromised in the near future. If we see a downside break below the $0.1980 level, the price of XRP is likely going to accelerate lower in the near term. In this mentioned case, the price is likely to extend its decline towards $0.1920. The 100 hourly simple moving average is also waiting near the $0.1920 level to provide support. Any further losses happening from this point may perhaps call for a test of the key $0.1880 support level. On the upside, there is an optimistic note that the two major hurdles for XRP bulls near the $0.2025 and $0.2050 levels. To start a convincing rally, the price of Ripple must gain bullish momentum. While the Ripple price struggles now, a successful close above the $0.2050 resistance area could open the doors for more upsides towards $0.2100 and $0.2150 levels in the near term. The technical indicators right now look solid - presented below:
  • Hourly MACD – The MACD for XRP/USD is preparing to move towards the bearish zone.
  • Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently below the 50 level.
  • Major Support Levels – $0.1980, $0.1920 and $0.1880.
  • Major Resistance Levels – $0.2000, $0.2025 and $0.2050.
 
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Ripple News

Bank Of America Officially Partners With Ripple

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bank of america officially
The altcoin news and rumors over the past two years have been showing a potential partnership between one of the biggest banks in the United States and the company standing behind the XRP altcoin. Now, we can see that Bank Of America officially partners with Ripple - confirmed by the head of global banking. As the latest Treasury Insights podcast shows, BofA's Julie Harris affirmed the partnership with Ripple, but did not speak much about the details. As such, the details are still kept in mystery. When discussing what would happen in the world of banking now that Bank Of America officially partners with Ripple, we guess that the next decade will be exciting. Harris said that BofA's first goal is to ensure that its clients can get things done anywhere and anytime. The second goal is to ensure that it can integrate new solutions and keep pace with the rapid change in the world of fintech. The announcement in the crypto news reads:
“Client experience, and that combination of the high touch and high tech ,is really important in a big area of focus for us. So not just the capability but the actual experience and ability to get things done anytime, anywhere because we are an around-the-clock society. And the second [goal] is the ability to integrate. And Derrick touched on this a lot. It’s not about our platform and our capabilities. It’s about you as a client and the infrastructure you have and the ability for us to integrate, whether that’s with platforms and capabilities that we built or partnerships that we have with the likes of Ripple or Swift. These are fintechs that we’re partnering with. They’ve come through all of our rigor of legal and compliance, and we’re able to leverage our banking as a platform to deliver that to you.”
In the past, the officials at Bank Of America have been hesitant to acknowledge whether the company has an active and ongoing partnership with Ripple. Back in 2016, the two companies worked on a pilot project together. Even a job opening at BofA related to the project was posted on LinkedIn, noting that the company was looking to hire a treasury product manager to lead the "product management team for the Ripple Project, a decentralized ledger technology (DLY) based solution to cross border payments marketed to GTS [global transaction services] clients.” Meanwhile, Bank Of America officially joined a pilot at Swift last year too, mainly to test a new service that is offering a better way of tracking payments.
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Bank Of America Exec Praises Ripple’s Ability To Deliver Quality Services

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A Bank of America exec just praised Ripple as a partner because of its way of delivering quality services. In an interview, the Bank of America exec noted how Ripple complied with any requirements with the bank which is why we are reading more in the following XRP price news below. Julie Harris, the head of global banking commented on a podcast a few days ago, about the emerging payment options available for businesses and the need for faster and efficient methods. Harris commented:
‘’…it’s not about our platform and our capabilities, it’s about you as a client and the infrastructure you have and the ability for us to integrate, whether that’s with platforms and capabilities that we built or partnerships that we have with the likes of Ripple or Swift. These are Fintechs that we’re partnering with. They’ve come through all of our rigor of legal and compliance and we’re able to leverage our banking as a platform to deliver that to you.’’
Harris didn’t explain further on how the bank could be using Ripple in the future. She mentioned Swift in the same context so it is safe to say that the cross-border payments are a big part of the plan. There have long been speculations that the Bank of America will start using Ripple. Ripple even confirmed back in October that it had been working with the bank for a few years now but only acknowledged that this was only a pilot project. The banking giant hired one ripple specialist but didn’t provide further details. The major rumor was that the Bank of America aims to start using RippleNet and if this is true, it could have a strong impact on the platform. It is also worth noting that there are other means by which the bank will embrace ripple technology. The Bank of America didn’t make any official statements about the plans for Ripple yet. There is no doubt that the banking industry is exploring the use of the DLT and the blockchain assets are all but certain to become a mainstream element of global finance in the near future.
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Ripple News

XRP Holders Prepare For Price Dump After 63.7M Coins Get Unlocked

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The XRP holders are preparing now for a possible price dump since the Co-founder Jed McCaleb transferred 63 million XRP coins to his personal wallet as we are reading further in the ripple news. During the day yesterday, Whale Alert flagged a massive XRP transfer from Jed McCaleb settlement to the personal wallet of Jed McCaleb where more than $12 million worth of XRP coins is now ready to be dumped on the market. The crypto transaction tracker pointed out that this transfer was a part of a new settlement between Ripple and McCaleb:
‘’From his account Tacostand the #XRP periodically gets sent to the account rLkM…Q1A where it is being sold’’
Just when the Ripple token looked like it’s on a path to recovery and the company even announced a new exchange listing, the XRP holders are facing another problem from the over-supply of the platform while in the meantime Jed McCaleb is dumping on them. The tweet was met with a lot of fury from the holders and XRP opponents. The consensus was eventually the same that a Dump is coming. McCaleb joined ripple back in 2014 and was among the ones who worked on creating the XRP token. He then left the company and worked with Stellar but agreed on a settlement of XRP to be paid overtime. Whale alert pointed out that this is usually sold on the open market and frustrates the XRP holders. McCaleb may only sell a certain amount of the coins and he is obliged to do so with the caution of the average market prices. As per the Whale Alert tweet:
‘’Compared to the total trade volume per day, the amount he is selling seems insignificant. For instance, from the 1st to the 7th of June 2017, he sold a total of 2.5 million XRP for $741,000 USD. The total trade volume that week for the XRP/USD pair on Bitstamp alone was 127 million XRP, but volume is not a good indicator for how much the market can absorb. He is adding to the net amount available. It is also important to note that it seems that the profits are being cashed out directly through Bitstamp and we found no evidence that any of it is being reinvested into the crypto market.’’
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