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Ripple News

Ripple’s XRP Token Is Officially The Worst-Performing Asset Of 2019

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Ripple’ XRP token is off to a terrible start in 2019. Just after Bitcoin managed to conquer the bull territory back, the third largest altcoin by market cap crashed by 16 percent. Following the price movements, we read the analysis in the coming altcoin news below.

The crypto asset is now the worst-performing asset among the top ten cryptocurrencies. While the entire market goes into bull territory again, Ripple’s XRP token started to pull back. It also pulled back during the trading session yesterday and it crashed by 7 percent reaching a price point of $0.03 price mark. The altcoin is continuously underperforming bitcoin but also the entire crypto market.

The crypto market massively improved in the first couple of months of 2019. For example, Bitcoin surged up to 43 percent since the year started. The number one cryptocurrency even managed to outperform most of the stock market. Rather than Ripple (XRP), other cryptocurrencies also performed well. Litecoin for example, increased up to 135 percent since January while EOS increased up to 82 percent. The most popular coin currently, the Binance Coin surged up to 283 percent.

However, Ripple (XRP) failed to join its peers and was left stuck 92 percent lower than its all-time high of $3.84. As the best cryptocurrency news sites wrote, there was a lack of price action behind the digital asset. The company is currently trying to provide international remittance technology for major banks. But despite the efforts, only a few financial institutions are actually using the XRP token for liquidity.

The CEO of Ripple Brad Garlinghouse, was very positive back in the past when he claimed that ‘’dozens of banks will be using Ripple’s xRapid service.’’ So far, there is only one licensed bank to use the xRapid system. The system is not yet ready to change the entire finance industry. Traders are still coming back to the traditional methods since they don’t trust cryptocurrencies as much.

The selling point of Ripple’s XRP token was decreased right after JP Morgan and Facebook entered the crypto industry. The industry was shaken when the new JPM Coin was introduced earlier this year and some analysts believe that this was one of the reasons that lowered down the XRP’s action.

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Ripple News

Bank Of America Secretly Pilots Ripple Technology

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bank of america secretly
Bank of America secretly pilots Ripple’s distributed ledger technology and plans to do more with it according to the latest Ripple news that we are about to read below.The second-largest bank in the United States has quietly tested the ripple technology and Ripple even went ahead to identify the bank as a customer in a presentation during a seminar held by the International Monetary Fund late in 2018. When asked about this, a Ripple spokesperson didn’t deny or confirm whether the bank was indeed treated as a customer but said that the companies have conducted a pilot together:
 “Bank of America has been part of Ripple’s Global Payment Steering Group since 2016 and we did a pilot with them.’’
The spokesperson didn’t provide any further information about the pilot and the Bank of America also declined to comment. It was previously known that the bank is a member of the steering group that advises on rules and standards for RippleNet. However, the news of the pilot is now a very strong indication that the bank’s relationship with the startup goes only a piece of friendly advice. The chief technology officer Cathy Bessant stated that she is bearish on the technology and that the Bank of America's portfolio of blockchain patents exists only to pivot to the blockchain as quickly as possible. Another sign that the bank is warming to the sector is a job opening that the bank posted earlier this month for a product manager who will lead the team for a Ripple Project. This project is described as a decentralized ledger technology-based solution to cross border payments marketed to the GTS clients.Ripple’s head of government Saga Sarbhai made a presentation back in 2018 during a seminar by the IMF in Samoa on fintech and the section of the presentation devoted to Ripple’s xCurrent service which includes a slide named ‘’A Snapshot of Our Customers.’’ The logo of the BOA Merrill Lynch appears at the top and more than 15 other financial institutions from around the globe. xCurrent which is the service that the Bank of America secretly tests out does not involve XRP which is Ripple’s token that the company periodically sells to fund operations and powers the xRapid product as we saw in the previous blockchain news.
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Bitcoin News

Crypto Markets Are Red: BTC Takes A Beating Below $8,200

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The Bitcoin news today show that the most dominant cryptocurrency is still trading sideways for most of the day. BTC managed to take a sudden dip in recent hours and has traded flat for the better part of the last 24 hours. With an intraday high of around $8,400, BTC took a sudden dip below the $8,200 and is the first sign that the crypto markets are red.The average daily trading volume right now hovers about $15 million, while its market share decreased to 66.3% which is the lowest level we have seen since the beginning of August. According to analysts, Bitcoin needs to take a further dip and test the $8,000 price mark once again.On the good side, the crypto markets are red but BTC is still up 120% since the beginning of the year, when it was trading in the range of low $3,000s. Meanwhile, the ETH news show that Ether is not doing much better and is back in its $180 price mark. The biggest altcoin of all hit an intraday high of $187 but has since been declining to its current trading price and is down by 3% at press time.A lot of analysts hoped to see Ethereum climbing towards the $200 level. However, knowing that the crypto markets are red, the approach to the next critical resistance area was seemingly too much to handle for this altcoin.XRP is also reporting a minor loss of less than 1% overnight and is trading at $0.2878 per coin. With this, Ripple's XRP is part of the altcoins which are showing a price downturn that might be sign of worse things to come.The top 20 cryptocurrencies by market cap are mostly showing reds, and EOS is being hit with a loss of more than 6%. Meanwhile, Tron (TRX), Cardano (ADA) and Chainlink (LINK) are all showing losses of around 5% on the day.The only exception is Bitcoin SV (BSV). While the crypto markets are red, BSV is showing gains of almost 4% on the day, and right now we can see that one BSV trades at nearly $90. The overall cryptocurrency market cap lost around $4 billion overnight and is now trading in the $221 billion region.
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Coinbase News

Ripple And Coinbase Will Expand In Latin America With The Help Of Bitso

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Ripple and Coinbase will try to win the Latin American market with the help of one of the most popular crypto exchanges in Mexico-Bitso. As per the latest Coinbase news, Bitso revealed the completion of a new fundraising round led by Ripple and Coinbase.Bitso remained silent on the amount that was raised in the round but the chief executive officer Daniel Vogel stated that this action will be used to help the exchange expand its operations in key Latin American countries such as Brazil and Argentina. The US crypto giant has equity ownership foothold in a brand that can influence further crypto adoption in this part of the world. It is not just the equity part that Coinbase will gain but also operational insights that can be very important for the company if they choose to directly expand to the region. Also, the Central Bank of Ireland handed Coinbase a figurative key to the continent by allowing the startup a coveted e-money license that will help expand in the European Union. The UK chief executive officer of Coinbase Zeeshan Feroz explained:
 “Europe represents a huge opportunity for Coinbase and today’s announcement is another positive step for us in the region. The approval from the Central Bank of Ireland will now enable us to expand our Irish operation and deliver a better product to customers across some of our fastest-growing markets. It will also allow us to secure passports for our customers across the EU and EEA.”
The latest advancements come as the exchange rolled out Coinbase Pro mobile apps and the Maker governance voting support on Coinbase Custody. Coinbase Pro is the exchange’s portal for advanced traders that were previously accessible by the website. The new iOS and Android apps will now make it easier for Coinbase Pro users to trade. As for Maker, the MKR token now has its own dedicating voting portal in Coinbase Custody which is a service many of the users have been waiting for.The Libra stablecoin project faced some of the biggest issues over the last week since many of the early backers have announced their official departures from the project and so far Booking Holdings, eBay, Mercado Pago, Mastercard, PayPal, and Visa all left the project as we saw in the blockchain news today.
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Altcoin News

Altcoins Look Energized As XRP, XLM And ZRX Dust Bitcoin Off

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Tuesday shows that this is another day of inactivity and consolidation for Bitcoin which kept the king of cryptocurrencies just above the support line. The lethargy of Bitcoin (BTC) resulted in another dip in the market share as a few of the altcoins start making bigger moves. The altcoins look energized and feature rises initiated by the XRP token by Ripple, the Stellar Lumens (XLM) native cryptocurrency and 0x (ZRX).All began with the Ripple news, which coincided with the brief touches of $8,400 for BTC over the past 24 hours. Clearly, there are many bears lurking here and the resistance is proving too strong for another day. On the low side, we can see that BTC dropped to $8,240 but recovered in the $8,300 region again. The Ripple token benefited from this consolidation period and made over 11% gains since the weekend, adding half of the gains today as the coin approaches strong resistance.Altcoins look energized right now, and XRP is not the only one. Even though it is one of the day's top performing digital assets as it hit $0.298 this morning, the Stellar Lumens news show that XLM is also in a bullish momentum.As usual, when XRP moves, the little brother named XLM follows. Over the past 24 hours, Stellar's Lumens (XLM) token climbed to $0.065 and is way down from previous highs with a long way to go. The momentum built around Stellar (XLM) is likely to mimic Ripple as both altcoins look energized right now.There is only a little cause for the fundamental drive behind XLM at the moment, so the Swell event could be beneficial for it, too. Stellar is right now ranked tenth in terms of market cap which has reached $1.3 billion today.Last but not the least in the big movers as altcoins look energized is 0x (ZRX). The cryptocurrency made a larger 10% jump to reach $0.337 recently, and the daily volume for the DEX protocol token doubled to $64 million as it creeps back up the market cap and outperforms the altcoins around it.From everything, we can conclude that Bitcoin's slowdown is finally starting to benefit some of the altcoins. XRP, XLM and ZRX are obviously the leaders today.
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