XRP’s Prolonged Volatility Gets It Dangerously Close to a Full-Blown Plunge

XRP has continued to feel the squeeze over the last few weeks as the altcoin struggles with growing price volatility in the market. Just the other week, a crypto rating council that features some of the major exchanges in the market and major institutional players in the crypto space noted that XRP was using “securities-like language” in its trading. This, the council said, meant that XRP was more or less classified as a security. The statement appeared to spook XRP investors and the altcoin community in general. XRP prices went on a spiral thereafter.

Although there was some recovery later, one pattern started to emerge. It looked as if XRP was caught up in a vicious wave of volatility. The descent can be traced back to the last week of September, when the main cryptocurrencies and altcoins all took a hit. It all started with Bitcoin. After the Bakkt hit and miss, Bitcoin plunged 12% dropping to $8,600. Altcoins weren’t spared either. XRP, in particular, was hit hard, losing 15% of its value in just 2 days.

Current trends in the market don’t look that favorable. Although XRP has had flashes of promise, the general trajectory looks downwards at the moment. Unless something drastic happens, the altcoin could be headed towards one of the worse performances in recent months.

Despite this, there are still a few positive signs. However, one thing to keep in mind is that most major cryptos including Bitcoin and other altcoins are stuck in the same spiral. It has nothing to do with XRP in particular. Even though the altcoin has had its challenges, it seems the current descent has been occasioned largely by headwinds on the market. As a result, a majority of altcoins have been affected.

We have also seen some signs that XRP has the potential to really rally. On 18th September, the altcoin actually rose 24% in just a day. Although the price plunged a few days later after the market correction, many analysts saw this as a potential good sign that things may just start to look up. But even with that, there is still some cause for concern, especially when you factor in volatility. Despite showing signs of steady growth in some cases, XRP has also come through the brunt of market headwinds in a worse way compared to main cryptos and altcoins.

Following the September 23rd sell off, XRP prices plunged significantly. It took nearly 7 days for the prices to recover. Nonetheless, this kind of volatility is not uncommon in the crypto market. Bitcoin itself has been notoriously volatile over the last few years and there is no reason why we shouldn’t expect the same from altcoins like XRP as well. The main goal right now for XRP would be to stem the bleeding.

It’s been almost a year since XRP fell to one of its lowest prices of $0.233. As long as the altcoin can hover over and above that price, then there is every chance that growth will be seen in the near future. But it’s still hard to ignore the bearish spree that XRP has been on over the last few weeks or so. Even though it can be argued that the entire crypto market has somewhat been bearish in nature, many XRP fans are hoping that the fortunes will start to turn soon.

The only good news right now is that this is not the first time the altcoin has felt the squeeze in the market. In previous occasions where all seemed lost, XRP has always managed to roar back stronger. There is no reason to believe that it won’t do the same again.

XRP Institutional Payments from Bitstamp and Bitso Soar in Q4 2019

New reports are indicating that institutional XRP payments between Bitstamp and Bitso reached record highs on the first day of Q4, 2019. All these payments were made through the xRapid corridor and the hope is that this first day momentum will carry on for the rest of the quarter. There has been enough consistency as well over the last few months to suggest that this trend will continue. The news comes at a very interesting time for XRP institutional payments.

MoneyGram had promised earlier that it will be scaling up its XRP payments at the beginning of Q4 this year. True to its word, MoneyGram has already started to do so. We are not sure if the surge in payments reported on the first day of Q4 is in any way related to MoneyGram and its XRP scale-up operation. But one thing is clear. This can only be a good thing for Ripple.

MoneyGram is definitely a heavyweight strategic partner. The company has also shown outstanding willingness to work with Ripple. According to CEO Alex Holmes, the plan is to “move forward with xRapid in a very huge way” over the coming few months.

Xpring is Now Offering Crypto and Fiat Payments That Can Integrate Into Any App

Ripple’s investment division Xpring has announced that it is launching a new payments platform that will allow developers to easily integrate fiat and crypto payments into any application. The platform will offer a suite of services including Xpring’s software development kit. The kit is designed to easily allow developers to integrate any XRP app in a wide range of programming languages. Xpring also says that the platform will have a series of new tools that can be used by developers to work with XRP and Ripple’s Interledger Protocol.

According to Ethan Beard, senior vice president at Xpring, the new platform is expected to make it easier for any developer to use the XRP ledger. Beard says that the new platform will help accelerate the development of micropayments in a wide range of industries including gaming and media. However, the platform works for any type of payment. The launch of the new platform is also a significant step away from tradition for Xpring. Since it was established, Xpring has acted as the investment arm of Ripple.

Its job has primarily been to identify and acquire companies that can be strategically integrated into the XRP ecosystem. Many see the new platform as a new vertical in Xpring’s strategy and it looks like a great move for now. Beard also noted during the launch that Xpring has also added a number of new strategic partners into the XRP network. Bitpay, BRD, and Anchorage are the latest companies to add XRP as part of their offerings.

Ripple is hoping to have thousands of merchants adopt XRP as a payment option online. This would mean that more and more users will continue to use the altcoin. We have also heard reports that Chainalysis is adding XRP ledger to its blockchain analytics as well. The new platform will be a critical factor in expanding XRP usage too. The only challenge would be to make sure it takes off as expected, as soon as possible. Nonetheless, there is no doubt that Xpring has the power to make this happen.

Top Holder Activity Indicator on Coinbase Hits 85% Buy for XRP

The “top holder activity” indicator on Coinbase has hit 85% buy for XRP. The indicator tracks the top 10% XRP balances on the Coinbase exchange. It is used to determine the extent to which these top coin holders have either changed their net position for the altcoin. A “top holder activity” indicator of 85% buy simply means that a huge majority of the top coin holders in the exchange are actually buying XRP.

Although the 85% buy score dropped within 24 hours, it is still above 75%, which is pretty impressive for XRP.  It is an indication that there is actually a lot of confidence in XRP from some of the major coin holders in the market right now. This news also comes as XRP continues to deal with growing volatility, especially over the last few weeks or so.

Which Cryptocurrency Exchange Holds the Most XRP?

Bitcoin may be one of the biggest stories in the cryptocurrency world but did you know that Ripple XRP coin is still one of the fastest-growing cryptos in the world? In 2017, when everyone was talking about the phenomenal growth of Bitcoin, Ripple actually had a much better performance with gains of up to 35,000%. That was by far the largest rally ever seen in the financial industry. In the first quarter of 2019, Ripple sold $169.42 million in XPR, the highest quarterly sum ever sold by the company.

In this article, we take a quick look at Ripple and discuss which cryptocurrency exchanges hold the most XRP where you can buy and trade in the Ripple coin.

So, What is Ripple?

Unlike banks or other centralized authorities, Ripple was founded by the creation of a distributed ledger network to validate transactions between holders and traders of the cryptocurrency. The payment network that links banks and other institutions to Ripple is known as RippleNet.

It is the tool that makes it possible to transfer digital assets and money via the decentralized XRP ledger. To make things clear, XRP is the cryptocurrency while Ripple refers to the company and its transaction processing system.

XRP is the digital asset or coin that is used in all RippleNet transactions. It was designed to lower costs and time spent in global transactions involving Ripple. The RippleNet system is highly efficient and works extremely fast. It can easily process 1,500 transactions in a second and takes just 4 seconds to complete a transaction in RippleNet.

If you compare the speed and efficiency of RippleNet with, for example, Ethereum, which takes two minutes to transfer, or Bitcoin which takes 1 hour, or even the 5-day wait in traditional banking systems, you’ll see why Ripple has become quite popular today.

Top Cryptocurrency Exchanges That Hold XRP

If you want to buy Ripple and feel intimidated by the process, you’ll be glad to know that there are many fiat exchanges such as Coinbase that allow you to buy and trade in XRP. In many exchanges you can easily purchase XRP using fiat currency or popular cryptos such as Bitcoin and Ethereum.

Some exchanges allow you to buy XRP using your local currency or through peer-to-peer services such as LocalBitcoins and exchanges such as Bitstamp. If you have BTC you can send it to many exchanges where XRP is traded and proceed with your trade or investment.

Here are some of the best Ripple exchanges where you can buy and sell XRP.

  1. IO

This is one of the easiest to use exchanges with many buy/sell options for a wide range of pairs including XRP/USD, XRP/BTC, and XRP/EUR among others. You can buy XRP using fiat currency. CEX.IO is located in the UK but serves customers from all over the world. It is also a safe place to store your XRP because they have offline cold storage and provide users with 2-factor authentication for additional security. The platform also provides cross-platform trading through Android and iOS mobile apps, website, Rest API, and WebSocket. Their fees are however on the higher side with basic charges for trading set at 0.2% while credit cards and bank account withdrawals are charged 3.5% and an additional $0.25 or GBP 0.20 per transaction.

  1. Binance

Binance is another popular cryptocurrency exchange where you can buy or sell XRP. However, you are not allowed to fund your account with fiat currency but can only purchase XRP using other cryptocurrencies. They don’t have a limit for deposits and don’t even charge deposit fees. You can easily deposit BTC and buy XRP at Binance.

Binance provides customers with two trading options, namely Basic and Advanced. The only major difference between the two options is the fact that the Advanced View gives more detailed technical analysis to help you make more informed decisions when trading. Binance charges a low flat fee of just 0.1% on each trade done on their platform.

  1. Changelly

Changelly is another exchange where you can buy and sell XRP easily using USD or cryptocurrency coins such as Bitcoin and Ethereum. You can even make your XRP purchases using credit and debit cards. It is an easy to use platform especially for those who are new to cryptocurrency trading.

Changelly doesn’t hold your cryptos. You must have a Ripple wallet to store your coins. They also charge a 0.5% fixed fee regardless of the amount you transact. Changelly has a fast trading system that takes just a few seconds to complete.

  1. Kraken

This San Francisco-based cryptocurrency exchange serves customers from all over North America with the exception of New York. It is a safe and reliable company with a solid reputation for preventing major hacking attempts. They are also famous for offering users a wide range of markets including BTC, ETH, XRP, USD, and EUR among others.

You can trade crypto and fiat currencies on Kraken, including XRP. They allow deposits and withdrawals in fiat currencies including USD, CAD, EUR, GBP, and JPY. The currency payments are done via bank transfer. The system also supports bank accounts in the European Economic Area and accepts the SEPA payment system.

Kraken provides two account options – basic and advanced. Keep in mind that you’ll need to provide your full name, address, phone number, and date of birth to open a basic account. You’ll also need to go through additional verification steps to open an advanced account. Each digital coin has its own transfer fee at Kraken. Deposit is free for Ripple.

Other popular cryptocurrency exchanges where you can trade in XRP include HitBTC, Bitso, Gatehub, Qryptos, and of course Coinbase.

Conclusion

Ripple XRP is one of the fastest growing cryptocurrencies today. It is traded on most platforms besides the ones covered above. Since supply is never constant and keeps on changing based on the amount of XRP traded every day, you can easily dig deeper on some of the best cryptocurrency exchanges available today to find the one with the most XRP as well as low fees and ease of trading.

SWIFT Satisfied with Ripple’s Speeds and Low Cost after a Series of Tests

Crypto Magazine Crypto Eris is reporting that SWIFT has been doing a series of tests on Ripple, and that it’s satisfied with its speed and low cost. This is definitely some great news for Ripple investors and fans around the world. According to the report, SWIFT is actually looking at Ripple as a possible option in settling payments. Despite these promising tests, SWIFT still believes that Ripple is not yet ready for the mainstream market.

Well, as you can imagine, there are of course many analysts out there who don’t believe so. They argue that Ripple has shown, in many fronts, that it has grown to a respectable coin and integration into mainstream payment systems is inevitable. Besides, if indeed Swift’s tests showed Ripple to be a low cost and fast way to settle payments, it would seem the altcoin has fulfilled two vital criteria.

The only challenge right now is that XRP liquidity is not good enough. This means that banks are not comfortable pushing billions of payments through it. The good news is that this liquidity has been growing and it’s only a matter of time before it hits the acceptable thresholds. This might, in fact, happen sooner than anticipated.

SWIFT Satisfied with Ripple’s Speeds and Low Cost after a Series of Tests

Crypto Magazine Crypto Eris is reporting that SWIFT has been doing a series of tests on Ripple, and that it’s satisfied with its speed and low cost. This is definitely some great news for Ripple investors and fans around the world. According to the report, SWIFT is actually looking at Ripple as a possible option in settling payments. Despite these promising tests, SWIFT still believes that Ripple is not yet ready for the mainstream market.

Well, as you can imagine, there are of course many analysts out there who don’t believe so. They argue that Ripple has shown, in many fronts, that it has grown to a respectable coin and integration into mainstream payment systems is inevitable. Besides, if indeed Swift’s tests showed Ripple to be a low cost and fast way to settle payments, it would seem the altcoin has fulfilled two vital criteria.

The only challenge right now is that XRP liquidity is not good enough. This means that banks are not comfortable pushing billions of payments through it. The good news is that this liquidity has been growing and it’s only a matter of time before it hits the acceptable thresholds. This might, in fact, happen sooner than anticipated.

Safest Ways to Buy XRP Online

Ripple (XRP) is one of the heavyweight contenders in the crypto market. In fact, some will even say that it has the potential to topple Bitcoin as the number one cryptocurrency. This is one of the reasons why XRP is still in demand.

 

Now you could be buying XRP because you believe it will overtake Bitcoin in the future. Or, you want to diversify your crypto holdings. Either way, you will need to purchase XRP, which brings us to the question – how to buy XRP online safely?

 

In this article, you’ll learn what your options are so you can find the one that best suits your situation.

 

First Things First

 

First and foremost, you must know how to get into the cryptocurrency space. Cryptocurrency is still at its early stages, and buying XRP may not be a straightforward process for you. There are two basic ways of getting XRP.

 

There’s the direct and the indirect process.

 

  • Direct Process – The direct route of obtaining XRP is buying it online with the use of cash or fiat. This method is more convenient, but it has its downsides. XRP may be a major cryptocurrency, but it’s not as big and as accessible as Bitcoin. Hence, your option of directly exchanging your cash or fiat to XRP may not be available depending on your location.

 

  • Indirect Process – This is called an indirect process because you will have to add an extra step. Specifically, this method requires you to buy Bitcoin first, then exchange that Bitcoin to XRP. Keep in mind that Bitcoin is the biggest and most accessible cryptocurrency. Hence, it may be a lot easier for you to obtain Bitcoin using fiat. Once you have Bitcoin, it is just a matter of using an online cryptocurrency exchange to convert Bitcoin to XRP. This method may be a bit more of a hassle, but it’s the most accessible route for many.

 

The Safest Method

 

Perhaps the safest method of obtaining XRP is buying it from someone you trust, and it doesn’t matter if you use Bitcoin or fiat to obtain it. You can do everything online too, so it’s both convenient for both parties. You could ask a family or friend to send you XRP to your wallet, and you send him Bitcoin or fiat via PayPal or bank account transfers.

 

This method may be the safest because you’ll be a lot more certain that the other party will send you XRP once you send your fiat. Furthermore, you don’t have to deal with a lot of hassles like submitting IDs, SSN number or getting approved when opening an account with a legal cryptocurrency broker or exchange.

 

Safer Option

 

If you don’t have a family or friend that can send you XRP, then your only option may be opening an account with an online cryptocurrency exchange or broker. There are plenty of them like Coinbase, Binance, and Bittrex to name a few.

 

Perhaps the key here to finding a broker or exchange you can trust is to do research on their history. You’d want an exchange that has been operating for at least three years. A broker or exchange that has never been hacked is also a must.

 

Ripple Unveils XRP Ecosystem Partners as Its Ledger Continues to Grow

Ripple has said many times that it plans to develop a wide range of products that will be fully integrated into its XRP ecosystem. As a result, the company has been partnering with external third-party companies to make this dream a reality and during an event dubbed UBRI (University Blockchain Research initiative) Connect, some of these third-party partners were unveiled.

The event brought together a number of industry players and speakers. However, perhaps the most significant moment, was when Ethan Beard, the senior vice president at Xpring, went on stage to announce a new line of partners who will be joining the XRP ecosystem. So far, Ripple has had $500 million invested in third-party companies that have since been integrated into the XRP ecosystem.

During the UBRI Connect event, new names were unveiled including XRPChat, an XRP centered social platform where users can share and engage. We also saw companies like Brex and Bitrue come into the fold. One revelation though that seemed to grab the attention of most XRP fans was the name PolySign. This was the first time Ripple had mentioned the name even though there was already speculation that the two companies were working together.

Some analysts believe that PolySign would probably be the biggest player in the XRP network. They argue that PolySign will likely be the platform banks will be using to hold XRP coins on their balance sheets. This could probably explain why very little information has been released about the platform despite the fact that it’s clearly one of the key partners of Ripple. With PolySign, Ripple will, for the first time, be able to give institutions the ability to do XRP transactions. It’s definitely one of the most strategic moves by the company yet.

We also learned from the UBRI Connect Event that Binance.US and Binance.DEX are also going to join the XRP ecosystem. Binance’s CEO confirmed in a tweet that XRP was now part of its Decentralized Exchange. These latest partnerships indicate that the XRP Ledger is expanding rapidly. These are actually the partnerships that we know about. We believe there are more operating behind closed doors and others already in the works.

As more information continues to become available, it is very likely that the XRP ecosystem will have expanded even further. Despite this, we are still not very sure how these partnerships affect the immediate and long-term future of XRP and Ripple as a company. The altcoin, despite its popularity, has been struggling with volatility in the market.

But many analysts are confident. They see these latest partnerships as a long-term play that will likely set the required foundation for future growth. The ultimate objective for Ripple is to bring in as many strategic partners on board as it can over the coming few months. The UBRI Connect event also suggests that the company is actually doing a good job at attracting some very good partners to its fold.

Ripple to Join Western Union in Cross Border Payments Discussion in the PayExpo Panel

Ripple is expected to join Western Union during a PayExpo discussion to engage in the future of digital payments and everything else related to the financial industry. The PayExpo event is slated to take place in October. Ripple will be represented in the panel by Jeremy Light, the EU Strategic Accounts VP. On the other hand, Western Union will be bringing in Chris Fletcher, the Global Head of the Digital & Channel Partnerships and Global Payments. The discussion is largely expected to focus on the current cross-border payments trends. The expo will be held in London, UK.