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Ripple Proposed XRP Ledger Accounts That Can Be Deleted

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Ripple proposed a new feature that can allow the XRP ledger users to delete their accounts according to the new announcement made by the CTO of the company, David Schwartz as per the reports that we have in our ripple news.

 “One new feature proposed in the amendment process is Deletable Accounts and [it] is waiting to acquire and retain an 80% supermajority, before it activates. This feature allows XRPL accounts to be removed from the ledger and recover most of the reserve locked in the accounts for spam prevention,” said Schwartz of the feature.

The main benefit for users is reimbursement: opening an account now requires a 20 XRP deposit, and users who delete their account will have the possibility to recover part of that cost. The activation process of the amendment featuring deletable accounts stipulates that it has to have 80% approval from validators for two weeks. This gives the community the opportunity to give feedback and influence validators.

Some features have been introduced through amendments in the past, including multi-signing, on-chain escrow, and payment channels. But deletable accounts are relatively changed of higher importance. Ripple proposed deletable accounts that will give the possibility to “completely remove an account from the [XRP] ledger and remove the reserve from that account,” according to the original specs.

Beside the concerns the proposed feature doesn’t seem to give Ripple deletion powers. The author of the proposal, Nik Bougalis, has said that only account owners hold this power. “Only someone that is able to sign a transaction for the account can delete that account,” Bougalis explains.

Though Ripple itself cannot exploit the proposed deletion feature, account owners could be able to do so by deleting a large amount of important metadata, that can disrupt other transactions. Luckily, the proposal has limits and fees in place to stop the excessive deleting. Also, it seems that account records will remain visible in the history of the ledger, so transparency could be protected. This news is announced in time when another report of a Ripple new partnership. The National Bank of Egypt has the intention to use RippleNet platform for the purpose of handling inward remittances, according to news outlet Youm7.

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

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Ripple News

XRP Traders Turn Bullish, Price Could Reach $0.46: Analysis

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The XRP traders turn bullish as the XRP price keeps hovering below $0.30 while the overall market sentiment regarding the coin is also bullish as we are reading in the price news today. The crypto traders are waiting for various movements in the price in the short term but all seem to bet on the XRP surge and some analysts even predict the $0.46 level to be the support level for the coin. The Dutch analyst Micahel van de Poppe explained that the XRP traders turn bullish stated that the situation will be okay for this cryptocurrency. The expert pointed out to a Support Resistance flip on the charts saying that XRP still has to hold above the $0.25 in order to keep rising to $0.46 which could be possible to reach a new high of $0.60. The Twitter user @mrlevelup shared another bullish view in the price news on XRP on his Twitter page which shows many similarities between the charts from 2017 and a chart from 2020 where we can see that the market is now at a similar point as it was back then when XRP surged. The twitter user expects XRP to soar and to provide details in a video that he posted in the twitter comment threat. The financial analytical agency Weiss Ratings back a few days ago, published a post criticizing the head of the blockchain giant ripple after the CEO of Ripple Brad Garlinghouse got trashed for saying the cryptocurrency will not be able to function without banks and that getting bankers on board is extremely important for the future of the cryptocurrency. Weiss Ratings supported the opinion in the crypto space that Ripple will unlikely replace banks:
 “#Ripple CEO Brad Garlinghouse said that stressing compliance is key to getting bankers on board with #crypto. We don't need bankers to get involved in the crypto. Maybe he and his company do, but the space doesn't. Crypto doesn't need banks, because crypto will replace them.”
Brad Garlinghouse was in an interview when he commented that there are too many crypto assets out there. There are about 3,000 different digital assets that are trading on a daily basis.
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Ripple And Coinbase Are Among 10 Biggest Companies In 2020

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The Coinbase XRP news today show that Ripple and Coinbase are among the 10 leading fintech companies in the US by their size. The analysis shows that there are three firms in total out of these ten which focus on crypto-related activity: Ripple, Coinbase and Robinhood. Carried out every year by the American business magazine Forbes, this list is in the Ripple news once again and the news source features the 10 biggest fintech companies in the United States. To some, it may seem that this list is predictable as big companies get bigger, improve their performance and reinforce their standing. However, the list for 2020 has also brought a couple of surprises. What matters, however, is that Ripple and Coinbase have cemented their place on the list. Ripple is on the 2nd position, Coinbase lies on the 3rd position and Robinhood is on the 4th position, correspondingly. If we start with Ripple, the value of XRP is tremendous. The company has shown great performance in 2019 and rose in terms of its value. Ripple raised $200 million in an investment round and the company's value surged to $10 billion. The partnerships with BitPay and Intermex added a lot to its value and Ripple has been named one of the best workplaces in the Bay Area. The Coinbase XRP news also show that exchange is next, strengthening its position after making its mark as a safe and regulatory-compliant crypto exchange which offers crypto custodial services to institutions. In addition, the latest Coinbase news show that the exchange ventured into a personal wallet and added support for new currencies. Robinhood, as the fourth ranked company, has also been growing and introducing new features. It launched fractional stock trading with zero fees, expanded its geography and allowed US residents to trade 7 digital assets free of charge on the platform. The top fintech company on the list, however, is Stripe with $35 billion as its value. In 2019, it raised $250 million in a new round of funding, which led to an increase in its value. Besides this, Stripe rolled out a new corporate credit card and small business loans which are automatically repaid from payments that it processes for borrowers. Among other companies on the list are Plaid, SoFi, Credit Karma, Opendoor, and Root.
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Ripple News

Ripple XRP Could Explode Higher If Technical Stars Align

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We all know that Ripple XRP could explode and reach the all-time highs it once posted. However, in order for that to happen now, the Ripple news must see a couple of technical factors colliding. And after peaking last week, the market leaders Bitcoin, Ethereum and Ripple XRP could only retrace if their losses are recovered in the short term. As you probably know, XRP was hit hard by the retracement last week, falling from its multi-month high somewhere above $0.34 to as low as $0.265 during the flash Wednesday sell-off which brutalized bulls and liquidated millions of dollars worth of Bitcoin positions on BitMEX as well as other leverage exchanges. The more-than 25% retracement in the price of the third largest cryptocurrency still makes some analysts remain optimistic, touting a number of indicators which suggest that bulls may soon return to their fields and Ripple XRP could once again post double digit gains. According to the popular crypto commentator CJ, XRP's chart setup suggests a strong breakout to the upside very soon. He depicted the fact that XRP has been building a falling wedge pattern over the past two weeks which could break to the upside. But as he also summed up, the demand zone around $0.24 needs to be swept off in order for XRP to gain more and again be in the focus of the cryptocurrency news. https://twitter.com/IrnCrypt/status/1231012056461082624 All of this is far from the only technical sign that may support bulls moving forward. Still, previous reports showed that the signal was seen two weeks before the altcoin began its infamous surge at the end of 2017, during which the asset gained more than 1,000% in under a month's time. This is why Ripple XRP could visit new highs again. The eerily accurate trader Financial Survivalism was quick to jump in the Ripple news too, suggesting that the asset could easily hit $0.70 this year. He backed this forecast by looking at the technical indicators including the Heiken Ashi candles which turned green this week, the implying reversal, as well as the key horizontal which was turned into support. Right now, Ripple (XRP) is trading at $0.2815 with 2.79% gains on the day. And while there are a couple of technical factors that need to play out, most are not sure if XRP is ready to see the strong breakout that CJ and his fellow analysts suggested that could take place.
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Ripple News

New XRP Fraud Reporting Procedure Officially Launched By Ripple

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The company has produced a page on its website where XRP users can report foul-play. This move shows the growing attempts by Ripple to establish itself as a key player in global finance. Ripple officially launched a new XRP fraud reporting procedure so let’s find more about it in the following ripple news below. The reporting website gives consumers the opportunity to inform the firm about certain fraudulent behavior involving the XRP token. This fraudulent behavior can include theft, scams or unauthorized gateways/exchanges. The site makes clear the situation that Ripple cannot reverse these transactions, because of the decentralized XRP ledger. Plus, XRP users are not Ripple customers. Therefore, an “unusual activity report” can be useful in aiding the identifying efforts and stopping the fraud, but it does not mean compensating victims. It is interesting to note that Ripple encourages users to report “potential sanctions violations, money laundering, unauthorized transactions and/or other financial crime.” Said differently, it calls on the Ripple community to self-police, and notify the firm about possible illegal activity. This fact emphasizes the knit relation between Ripple and XRP use, and the firm’s strong intent to fight any foul play with the asset. This move is the newest in a continuum by Ripple in its cause of developing itself as a key player in global finance. The firm has declared for a long time that it has great plans for expansion. The CEO of Ripple, Brad Garlinghouse recently compared the firm to Amazon and said that in going forward the company will explore other services alongside cross-border fiat transfers. To succeed in its goals Ripple must acquire cooperation from regulators, politicians, and law enforcement on a magnitude that is unprecedented in the blockchain sphere. Having this in perspective, opening up a tool for fraud reporting and displaying a firm willingness to battle crime, is a smart move. It is important, that Ripple did not draw the ire of the leaders, the leaders that must influence in a positive way. For example, we have Libra, the cryptocurrency of Facebook, that was met with huge wrath by the politicians around the globe, while Ripple managed to escape this besides its overall disruptiveness.
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