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Ripple News

Ripple’s Client Base Increased By 50% This Year (2019)

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Ripple’s client base increased by up to 50 percent this year while the use of XRP for cross-border liquidity increased by 7 percent as we are reading in the Ripple XRP news below.

The CEO of Ripple Brad Garlinghouse stated in an interview with a contributor from Forbes. In the latest announcement, Ripple said that they have surpassed 300 customers compared to the 200 which was only at the start of this year. Additionally, Ripple also claims that without providing numbers, that the company saw tenfold year-over-year growth in transactions on their payment network Ripple Net.:

California-based blockchain startup focusing on payment technologies, Ripple, has seen its client base grow 50% this year, while some 7% use XRP for cross-border liquidity.

“This year has been our strongest for Ripple yet.’’

The company also said that now the customers have started using RippleNet in more than 45 countries compared to 40 countries in January 2019. Since the startup announced the On-demand Liquidity product in 2018, XRP is used there to remove the necessity for pre-funding in cross-border payments and they made multiple partnerships with two dozen customers that are using the ODL right now such as MoneyGram, Viamericas, FlashFX, goLance and Interbank Peru. This resulted in a sevenfold increase for transactions that started using the on-demand Liquidity from the end of the Q1 until the end of October.

Ripple’s client base increased mainly because of the different options the platform has to offer. ODL initially offered payment corridors in Mexico and the Philippines and then expanded to Australia. However, Ripple announced that the upcoming payment corridor will expand to Brazil while 2020 it also plans additional corridors across the Asia-pacific countries and Europe and the Middle East.

In the last quarterly market report for the third quarter, Ripple said that ‘’Ripple customers live with ODL, including MoneyGram and others, increased by 75% last quarter and dollar volume on ODL increased more than five times from Q2 to Q3.”

Garlinghouse said that they have more than 20 customers using XRP for cross-border liquidity and he added that Ripple has more than two dozen customers with millions of dollars of flows per week. He said that also there are a number of projects that are built on the XRP ledger and even more companies will start using XPR with time.

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Ripple News

Ripple News Show That XRP Remains At Risk Of More Losses

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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 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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Ripple News

Ripple CEO Warns Against A Market-Wide Purge

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Brad Garlinghouse, known as the CEO of Ripple, is in the crypto news today for his warning sent to the media in which he said that a purge may be coming on the markets. The Ripple CEO warns and says that the vast majority of tokens which are currently on the markets will eventually plummet to zero.Naturally, XRP does have its fair share of naysayers believing that it will be one of the cryptocurrencies which ends up going to zero. However, Garlinghouse remains adamant that the utility which is currently being created around XRP will be enough to propel it higher in the months to come and eventually years to come.Still, the Ripple CEO warns that the sheer amount of cryptocurrencies out there is primarily the result of the hype which is surrounding the nascent technology. As this hype fades, he anticipates that the majority of these cryptocurrencies will plummet to zero due to their lack of actual utility and their inability to meet the needs by the customers.
“Anytime there is a new market, there are a lot of people that run into that market and try to show that they can solve a problem, they can deliver a customer need,” Garlinghouse noted, going on to say that 99% of these assets “probably goes to zero.”
If you are asking yourself whether XRP can avoid the market-wide purge, the XRP news today now show that there are a lot of analysts supporting XRP and believing that the token will be included in the event which Garlinghouse described as one that would "bring many cryptocurrency values to zero."However, the Ripple Swell conference is also coming which means that the price of XRP may rise in the coming days. At press time, it is at its low. This is why the Ripple CEO warns and explains that there may be a crisis period coming.Aside from this, Garlinghouse is confident that XRP is the best financial system out there and that it has significant utility, especially when considering the inefficiencies of SWIFT such as its "transaction volatility" which Ripple believes is best solved by XRP.The full interview with Brad Garlinghouse was shared by Bloomberg and can be seen below.https://www.youtube.com/watch?v=ZvSZTfAkgYk&feature=youtu.be
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