XRP Remains Stable at $0.19; Analysts Hope for It to Burst More

UNITED STATES – Analysts believe that Ripple (XRP) will stand a chance to burst higher until it heads toward consistency. Moreover, XRP/USD expands in Brazil.

Ripple (XRP) Price Stands the Regaining – Value’s Around $195

Ripple had the best moments this year, wherein two quarters were remarkable. Also, investors benefitted during the same year as well. However, the situation took a reversed ride after the first two quarters.

The third quarter didn’t go well for XRP. Moreover, the downtrend sustained in quarter-four. Hence, this year appears to close at an unsatisfactory note.

On December 29, Sunday, the price of Ripple (XRP) began the day at a value of $0.193. Within a few hours, the cost of this cryptocurrency fell to $0.191, which is by 1.17%. Afterward, there was an improvement in the price of XRP, wherein it reached $0.194 by 1.38%. With a slight increase, the price dropped again to $0.193 by 0.72%.

As the price of Ripple escalated immensely, it has risen to $0.196 by 2.03%. After his price hike, the price dropped again to $0.195 by 1.02%. Then, the price increased to $0.198 by 2% before it went back to $0.196. Moving over to the ending hour, which is brought by minimal growth, the price ended at $0.197 for the day. With the stated day-long undertaking by the cost of Ripple, this cryptocurrency brought 1.92% income.

Currently, the exchange began again with a drop at 1.02% this time since the price touched $0.195. It increased to $0.198 by 1.52%. On the other hand, the cost of XRP slid in the later hours to $0.193 by 2.34%. Previously, this crypto recuperated and reached $0.195.

A few hours before, the XRP digital coin was under the direct assistance level. It recovered, yet the expectations think that this cryptocurrency’s price might break the level again. As for the intraday movement, it has been quite a disappointment. Furthermore, this company is suggested for long-term traders since it might carry the colossal return within the stated timeframe.

XRP Price to Burst Higher as per Analysts’ Beliefs

Despite the disappointing day-long movement, some of the top analysts believe that Ripple’s XRP can still recover. It may not be a performer for 2019, unlike Bitcoin, which is trading from a $3,000-price to $7,200, yet it’s not the only cryptocurrency that posted losses in 2019.

Ethereum, one of the most famous cryptocurrencies, had a price decrease of 18%. As for XRP, the price shrunken by 47%. This report was according to Jimmy Song, a Bitcoin educator. He also shared on his Twitter account that Bitcoin had an 82%-price increase.

On the other hand, several experts claimed that these digital assets are on the edge of bursting higher.

A noticeable technical expert, Dave the Wave, stated on his Twitter the decline in Bitcoin’s price months ago, which is at $6,000. He also shared the chart where XRP/USD is displaying indicators of bottoming.

Dave the Wave noted that XRP is going toward a clear dropping wedge pattern, as shown in the chart of this cryptocurrency’s price history. Also, the Moving Average Convergence Divergence (MACD) is looking as is back in 2017, where the XRP price increased by jaw-dropping thousands of percent.

Aside from Dave the Wave, another analyst named Michael Van De Poppe previously recommended that this cryptocurrency is poised to burst higher in the year 2020, wherein the increase is by 175%. This report was according to NewsBTC.

De Poppe disregarded the technical, unlike Dave the Wave. Instead, he diverted his attention to price action trends in repeating chart patterns or looking for fractals. He also figured out that the price action of XRP in the previous months is strangely indicative of a bottoming design placed by this cryptocurrency. The price action is set in late-2015 to early-2016. Furthermore, it’s preceded a bullish 125% rebound to pre-crash points.

On the present charts, the price of XRP might be exchanged for $0.473, which higher than current prices.

Dave the Wave observed that XRP is displaying indicators of bottoming, and it comes among a burst of optimistic improvements for Ripple Labs.

Ripple Labs is a Fintech company that’s affiliated with XRP, and it’s based in San Francisco.

Ripple protected a large venture earlier this December 2019 from a collection of firms. A Japanese funding giant, SBI Group, along with other corporations, subsidized a shared$200 million to fund Ripple’s Series C. This scheme valued the fintech upstart at $10 billion, and it’s higher than the $8 billion contributions of WeWork.

Ripple is about to utilize the collected funds to expand the operations. It’s also going to promote the adoption of the services.

De Poppe Dissects How XRP Could Earn Close to 200%

There was a fair share of price struggles for Ripple’s XRP in 2019. Among the best 10 cryptocurrencies this year, this digital asset is included in the worst price performances. Michael Van De Poppe remained positive, although other analysts don’t see any hope.

As De Poppe stated that XRP could gain beyond 170% in the next uptrend, he based his prediction from the dominant market patterns. These patterns take after XRP’s stat back in 2015 and 2016, followed by the price increase in the year 2017. As per him, if it plays out, there will be impressive moves from this cryptocurrency.

According to Poppe, the XRP price had a price drop in 2015 to its lowest point, before it began to rise again in 2016, which is before the bull run in 2017. The price is at $0.19 for 2019, and it may bounce back if the price retains over crucial support levels at $0.14 and $0.17.

XRP Price Heads on the Way to Stability at $0.19

In the last 24 hours, Ripple managed to display a moderate hike. It had a 1.08% increase during this period, wherein the price went high at $0.1980.

XRP began the day with a pessimist note after having a 1.14% loss, wherein the value moved from $0.1929 to $0.1907. On the other hand, depositors experienced a big earning line after this cryptocurrency had an increase of 3.83%. The following hours were full of instabilities until the price received a reduction of 1.52%, leaving the price at $0.1950.

The present market capitalization of Ripple is at $8.484 billion. After following the price trend’s opposite way over USD, the capitalization went down to $8.536 billion.

The 50-day moving average of XRP is at $0.1950, while the 20-day moving average is at $0.1949. Furthermore, the stability is at the strong medium-term viewpoint. Also, the resistance is at $0.1998.

XRP/USD to Expand in Brazil after a $0.1960-SMA

Ripple is ready for new partnership agreements, and it’s expanding in Brazil. The partners are to be declared soon.

Ripple unveiled its operations in Brazil a few months ago. Now, it’s prepared to boost users with noteworthy partnerships with virtual banks. As per the previous report, this company wants to start utilizing XRP for transmittal payments.

Ripple’s managing director, Luiz Antonio Sacco, in Brazil, stated the potential of the market in the following years. He said that through successive advances in the banking regulation, opportunities would excellently develop in the coming years. Moreover, it includes international transactions.

Ripple targets not only Brazil but also the South American region.

The XRP/USD settled over the four-hour simple moving average (SMA100), and the price is presently at $0.1960. On the other hand, the recovery is restricted by the 4-hour Bollinger Band. The price is at $0.1990, followed by $0.20.

The next focus is on $0.2100 and $0.2150. Moreover, this segment served as a backing for XRP in mid-December. However, the four-hour local support is at $0.1920. If the XRP price moves under this part, there will be an extended sell-off to the next block at $0.1800, as well as the December 18-low, which is at $0.1752.

XRP Prices Target a Comeback for 2020 – Aiming to Hit 2017 Price

UNITED STATES – The Ripple (XRP) might be underperforming against Bitcoin and the US dollar, yet it’s compliant enough to continue its operation.

XRP Price Aims to Make a Comeback by 2020

In the previous quarter of 2019, the price of XRP took a deep drop, wherein it decreased to an annual low of $0.178 on December 17.

However, this year was a productive year for XRP when it comes to partnerships and long-term investments. There’s an increase to $0.192, which may appear to be in distress. However, the extended run period enlightens that this cryptocurrency can do better in the approaching year.

Before the price drop in December 16 and 17, the price of XRP was exchanging at 0.21-mark. The price drop took XRP to an all-time-low phase in June 2019, wherein the most significant decrease was up to 0.15% since the beginning of this cryptocurrency.

The transaction volume stays appealing enough for digital asset users and traders to keep the system among the best three when it comes to the number of transactions daily and market capitalization.

Ripple Foundation was very active during the year for several partnerships. Among the cryptocurrency’s partners include the banks in the North Africa district and the Middle East. Also, it agrees for developments in Europe.

Aside from being partners with banks in the stated region, there’s another spur for the year 2020 might be the previous improved and arranged On-Demand Liquidity (ODL) scheme by the Ripple Labs.

Analysts think that the hard work of the Ripple Foundation might pay off in the upcoming year. The market might not only be prepared for a strong trend when it comes to pricing but also the several partnerships with other establishments might begin to bring more to the foundation. It’ll provide a total lift to the XRP price of Ripple. Hence, despite the yearly low, it’s the reason why experts think that the cost of XRP is possible for bullish trends by the year 2020.

Why XRP Price Might Burst 60% More – Analysts Explicate

Ripple (XRP), known as the third-biggest altcoin, shrunken by 50% in the previous year. This collapse tagged it as an underperforming cryptocurrency via a large margin.  Experts are beginning to think that this cryptocurrency is showing indicators of a strong reversal.

CryptoWolf, a trader, previously commented that XRP is presenting pointers that this altcoin is in the middle of an immense dwindling wedge. The signs were formed months ago.

The term “Falling wedges” is a strong charting pattern market by tightening and falling prices. A robust breakout to the positive aspect can converse the occurred losses even though the asset was exchanging in the wedge.

CryptoWolf stated that a probable result for XRP might be for the asset to start to create a breakout drive heading to 2020. Afterward, the price can increase by 60% again to $0.30 by mid-2020.

Aside from CryptoWolf, an Amsterdam Stock Exchange trader and CoinTelegraph contributor named Michael Van De Poppe recommended that XRP might be on the verge of having 175% gains in the upcoming months.

According to De Poppe, XRP will have to stay in the range of $0.14 to $0.17, like how the present trend did in the recent cycle. He explained that the market might be entirely different way back, yet the periods tend to go the same way. Furthermore, he also said that it could increase to $0.473 by mid-2020, which is more than the present prices.

Some Experts Kill the Optimistic Vibe of XRP Price for 2020

A former Wall Street forecaster named Tone Vays stated in an interview with BlockTV that Ripple has no place. He also said that the whole thing about XRP is undesirable.

Vays is also the analyst who switched to Bitcoin years back.

Another trader referred to as “Moe” previously stated that XRP’s utilization of the Richard Wyckoff charts displays that the dispersal phase of the long-term price trajectory is approaching a conclusion. It suggests that a bullish long-term reduction will be next.

XRP Prediction: Price to Hit its 2017 Value at $114 or $431 Again

One of Ripple’s forecasts is that this cryptocurrency will have an immense adoption by the year 2020. This prediction was greeted with ecstasy and shrug from the digital asset community.

Cryptocurrency traders are stating that the implementation will not solely occur, rather these digital assets, which include XRP, are in the bottom low. Hence, the strong rally will transpire next year.

Several forecasters predicted that the bulls are impending for XRP in 2020. Some are supporting their positive predictions with the declaration. This cryptocurrency is similar to how its stats are in 2015 and 2016. The following result shows an indescribable spike from 2017 to 2018.

On Trading View, a cryptocurrency trader referred to as XRPWZRD captioned the trend of XRP on Poloniex from 2016 to 2017 and 2019 to 20202.

The forecaster utilized diverse geometric shapes to specify the resemblances between the trend moved by XRP in the year 2016 to 2017. It also determines what’s attained now. The trader also claimed that XRP would not go under $0.18, considering the pattern in 2017. Furthermore, this analyst added that users were purchasing at the bottom, which is why the reversal like in late 2017 is more probable to happen.

Another expert, XRP Canada, joined the prediction train. This analyst stated that the price of XRP increased by 77,630% in the year 2018, which moved from $0.004 to $3.53. On the other hand, he added that this digital asset is repeating the same pattern. Moreover, it touched the bottom, like what happened in 2015.

XRP Canada speculated that if XRP had the same gain of 77,630%, like its gain in 2017, the price would increase from $0.147 to $114. He also stated that the 127.618 level was equivalent to the all-time-high price of XRP, the standard FIB retrace from the year 2015 is considered in making a prediction. Hence, if the bulls hijack the bears entirely, this moment is a replica of what could make the price of XRP increase to $431 next year.

Ripple Will Not Shut Down due to Its Strict Compliance

Ripple is strict with striking a balance between controlling compliance and daily services. It received a profound salutation from the previous CEO and chief risk officer of GlobaliD named Greg Kidd.

Kidd is also an early depositor in Paypal and Twitter.

In the interview that’s previously shared on Twitter by the user referred to as Steven Bull From the Diep, Kidd recognized the effort of Ripple to stay compliant enough to not close its operation in the business environment of the US.

Kidd spoke about the difficulties of the digital asset to gain reputation and trust, especially with the controlling bodies in the US. He stated that mixed suggestions and opinions bound digital assets. Several thoughts request that it gets entirely banned, and some wishes it’s birthed by superior technology.

Kidd also mentioned that some are unsure that in the US, digital assets made it out of the house. He also said that both Coinbase and Ripple are exposed to the same controlling tension as the digital asset. Furthermore, he stated that these companies are compliant to avoid a shutdown.

XRP Endures to Increase Price Despite Pessimist Predictions

UNITED STATES – In the recent ‘Ripple Drop’ episode, the executives of Ripple (XRP) discussed the past and future of XRP as the year comes to an end. While some users think that this cryptocurrency is a rip-off, the banks in Japan plan to embrace it.

Ripple’s CEO States That There’s No Need for More Cryptocurrencies

During the ‘Ripple Drop’ session, executives of Ripple tackled the past, and the future state of XRP as 2019 is soon to end. Predictions were shared for the year 2020, as well as the whole era. They projected optimism for digital assets. However, several cryptocurrency projects will not make it, as per them.

The CEO of Ripple, Brad Garlinghouse, shared this belief in the digital asset industry, and he said that it would look toward some merging. He also states that many cryptocurrencies are not necessary as next year will concern more on a movement to quality.

The CTO of Ripple, David Schwartz, said the matching thought with Garlinghouse concerning on highlighting the quality use incidents of blockchain projects. He provides an advantage to blockchain companies that can loosen a dilemma and improve the lives of people.

As for Ethan Beard, the SVP of Xpring, he persuaded that digital assets and blockchain might replace the worldwide funding structure. On the other hand, Marcus Treacher, the SVP of customer success, foresees that blockchain will tie with other core empowering technologies.

Xpring is the investment wing of Ripple.

Facebook’s Libra Surprises Garlinghouse Bigtime this 2019

Aside from the predictions by the executives of Ripple during the episode of ‘Ripple Drop’, Garlinghouse shares how Libra, Facebook’s aspiring cryptocurrency, surprised him this year. As per him, Facebook might have confronted much fewer headwinds from administrations around the globe if the publication of whitepaper was planned better.

The VP of Global Institutional Markets, Breanne Madigan, agreed with Garlinghouse’s opinion. She clarified how the declaration provided an international motivation for controlling frameworks around blockchain technology and cryptocurrencies.

On the other hand, Garlinghouse shared the most “aha moment” as well. He shared that it was the time that he looked at Alex Holmes, the CEO of MoneyGram, admired the On Demand Liquidity (ODL) solution of Ripple, along with Holmes’ explanation of how it profited the company. Furthermore, Garlinghouse unveiled that it took one year for the leadership lineup of MoneyGram to be influenced by the XRP technology.

Treacher explained as well that the record development of RippleNet was the prime surprise in this year. As per him, the pace surprised him, wherein they were able to nurture an international network. RippleNet grew by linking payment companies and banks. Furthermore, he shared that they witnessed a remarkable uptick in activity, volume, and onboarding of international companies.

Monica Long, the SVP of Marketing, confirmed the sentiment about customer acceptance of the ODL of RippleNet. She clarified that the discovery for ODL was attained this year after several customers were primarily doubtful.

Some Analysts Think that XRP Might Drop 35% to $0.12

Based on the performance of XRP against Bitcoin and the US dollar, this cryptocurrency hasn’t accomplished well over the previous months. As for some analysts, the prospects of this altcoin might be worse.

Bagsy, a conspicuous digital asset trader, previously commented that he anticipates the price of XRP to pull down by 35% to $0.12 in the coming months. He also noted that it’s where there’s bygone backing on the charts.

Aside from Bagsy, Joe Saz also commented that XRP is presently “floating in outer space” because of its $0.192 price value. It means that it doesn’t have any prominent support close, and it stays in a very solemn downtrend, which is a dropping channel. Furthermore, it’s also implied that there will be a bearish price deed in the coming days, as well as weeks. This report was according to the Ethereum World News.

Saz is a digital asset analyst, and he’s also a contributor to BlockTV, a trade media outlet.

Saz stated that we might not be shocked to see the cost of XRP retrace to the range of $0.12, which is what Bagsy also said.

Jacob Canfield, another notable crypto trader, previously stated that XRP would have to fall to the range of $0.10 to $0.15 before considering an extended position.

As the mentioned analysts foresee the 35% drop, Jeffrey Tucker from the American Institute of Economic Research stated that the value of XRP would improve on the assembly of deficiencies of the old SWIFT system.

SWIFT or Society for Worldwide Interbank Financial Telecommunications is the present scheme that joins the global banks and permits transfers.

XRP Price Might Jump over 100% – Experts to Explain Why

It was reported that the XRP’s performance against Bitcoin and the US dollar is undesirable in the past months. In the previous year, it also the one which underperformed the leading digital asset by a large margin.

Regardless of XRP’s underperformance, one analyst begins to believe that the price is prepared to leap, and it’s looking to a past trend that specifies that bulls are composed to take over.

Michal Van De Poppe, an Amsterdam Stock Exchange trader, and a CoinTelegraph contributor, previously commented that he thinks XRP might be on the edge of posting 175% gains in the coming months.

De Poppe shared the chart, stating that the price of XRP is prepared for a rally of 175% to $0.50. He said that he thinks the real price action of this cryptocurrency is very similar to the bottoming outline seen in December 2015, as well as January 2016. An immense point to pre-crash points followed this pattern.

The analyst mentioned that if the present trend moves as it did in the recent cycle, XRP will have to hold the price range of $0.14 to $0.17. It might increase as high as $0.473 to 1755% greater than present prices, and it’s expected to be in the mid-2020.

Japanese Banks Interested in Adopting Ripple’s XRP

The standing of Ripple’s cryptocurrency, which is XRP, has been the point of argument for people in the industry. Some think that this cryptocurrency is a scam. On the brighter side, some believe that it’s not a deception at all, like Japan. As per the reports from U.Today, banks in Japan are looking to implement XRP.

The CEO of CipherTrace remarked on XRP and Japanese banks’ involvement. He stated that companies that support government and businesses make digital assets trusted and safe.

As per CipherTrace’s CEO, there are more than 1,600 cryptocurrencies that utilize blockchain. The CEO also shared that most banks in Japan are beginning to work with XRP.

The goal is to cooperate with banks and guarantee that these establishments are on the blockchain technology of Ripple. Moreover, part of the target is using safe global transactions efficiently and quickly. If Japan proceeds to adopt this digital asset, it may expand to different countries.

Moving over, Ripple announced a new financing round for the company’s projects. It was able to raise $200 million from Tetragon, according to InsideBitcoins.

Bitcoin, Ethereum Recovers; Ripple’s XRP Falls Further

Ripple’s XRP token has now dropped to its lowest price point since October 17. It lost a total of 16 percent in a span of 48 hours. This is bad news, to say the least, for Ripple and the whole XRP community. It is by no means permanent and can undoubtedly have a turnaround.

What makes the drop alarming is that even though the sell-off is reflected in other major cryptocurrencies as well, others have shown immediate signs of recovery. While the decline is not unique to Ripple and its XRP, not being to recover somehow is.

Bitcoin, at one point, fell to $6,500 but achieved a reversal. On the other hand, Ethereum, at one point, refused to budge at $122 but then moved suddenly to above $125. Still, these are hardly high prices. Ripple, in particular, however, remained struggling to gain strength against the US dollar.

At present, the XRP price is trading to a new 2-year low of $0.1741. This indicated that it has already settled well below the 100-hourly simple moving average. It is presently trying to correct higher, but it is apparently struggling to gain strength above $0.2000.

Bitcoin and Ethereum’s sudden reversal, however, are optimistic signs that Ripple can eventually move up too and reach above $0.2000.

XRP’s performance is seriously worrying when one compares its market cap at present to the cap it reached in January 2018. XRP’s market cap is now down to $8 billion, but the figure was an estimated 17 times that number, at $142 billion.

Pessimistic Technical Indicators

From a technical vantage point, XRP’s current price chart already looks quite fragile. Several key support levels have been taken out to the downside, which means that the chart looks extremely alarming and worrying. At the very least, XRP now has to rally back and reach the $0.21 level. This level has become a stern point of resistance.

If a break above the 22 EMA on the daily chart could be achieved, this would be a great relief. It can help rally XRP to the upside.

Worse, the next level of support to the downside for XRP is now at $0.16 and $0.14, respectively. A break-even below those levels could push price levels to those posted in early 2017. The levels could fall down to $0.08, $0.06, and even down to $0.02.

The movement of XRP in a span of five months, which is shown on Coinbase, exhibited a moderate level of volatility. The most recent fall triggered the coin to lose critical supports. However, the 200-day MA has not changed all that time, while the XRP price has been falling.

Previously, there was a sense of optimism that an upward trend would finally take place in mid of October. This did not happen as the bears hit the price of XRP.

As XRP’s price continues to fall, while Tether’s market cap continues to go up, Ripple’s token could soon lose its third place among all the cryptocurrencies. It’s a position it has been enjoying for a while now, a sign of how well it has been performing until this year.

Over the year, apart from the continuous price decline, many criticisms have been made against its perceived status as a potential security. Several criticisms have also been made over the ongoing OTC token sales taking place every month.

What makes all these declines worse is the inability of the coin to gain support from the short-term as well as long-term MAs.

XRP to Face Three Issues in 2020

Because of all these price drops, the prospects for XRP prices in 2020 are quite dim. Analysts and traders have highlighted three specific problems. The greatest one is the continued dumping of the token.

Whenever those events take place, media attention is always in a flurry, which can further trigger more dumping. According to analysts, with the co-founder Jed McCaleb constantly offloading onto the market, XRP holders are always vulnerable to the activities of the large bag holders. This is even more apparent for those in the XRP community compared to other cryptocurrency holders.

What makes continuous dumping such an issue is because there are too many XRP tokens in circulation. This can lead it to hemorrhage value with constant giveaways and oversupply.

Ripple is also set to release over 200 more monthly tranches of over 220 million XRP tokens. Given how these coins are now being perceived, until a sudden recovery takes place, these millions of tokens are waiting to be dumped as well.

The second issue is the continuous price depression of XRP. The confidence of the investors is waning, and this can further push the price down. For signs of bullish support to materialize right now will take a miracle, according to some analysts. Other analysts who are more optimistic about Ripple despite the present environment said that the company has to move fast and corner the market over the next 12 months, or all is lost.

The third most significant issue for XRP in 2020 is the increased and intensifying competition from CBDCS. Despite the downward trend of late in the cryptocurrencies market, 2020 is already lining up to be the year where different sovereign digital currencies and bank-issued stablecoins will clash for supremacy. Competition is especially hitting up from China. Other countries are also looking to have their digital currencies soon.

With corporations such as Facebook and big banks such as JPMorgan all trying to join the fray well with their digital currencies, Ripple had to fight hard to stay relevant among the cross-border payment solutions in 2020.

Given all these increased competitors, Ripple might find itself displaced from the third position quickly enough, even if it recovers its prices.

XRP Looking to End 2019 in a Depressive Note, Bitcoin in Better Position?

XRP was one of the top performers in 2017, but the question now is whether it can do that again? Analysts are mixed concerning their opinions on this question, given the generally negative performance of XRP in 2019, in terms of prices and even in its auditing potential. Will 2019 end in a depressing note?

Can XRP Perform at 2017 Levels Once More?

Will XRP be a top performer like it was in 2017? There is a current debate about this underway.

The discussion, however, started almost of the blue. It began when someone with the Twitter handle @CredibleCrypto, shared a chart from the CoinMarketCap showing comparisons of the best cryptocurrencies from 2017.

Even though it was the main topic, it was noticeable that XRP demonstrated a 36.018% growth during that year. The growth rate was too high to ignore, prompting the Twitter user to say that XRP performed the best in the space during that period.

While it was a reasonable assumption to make out of the growth rate, it was not long before any detractors started to refute that claim. Naturally, supporters also came forward to lend their opinions. Credible Crypto held to its stance, prompting it to comment that if one had invested in XRP over Bitcoin on that year, they would still be up three times based on USD terms.

Letting all the debacle go, what is more crucial to know at present is whether XRP could see similar types of gains. If not, can it, at least, outperform other popular cryptocurrencies?

Some, however, said all these talks about XRP’s performance was just out of habit. It was too popular to hate on the currency using social media and sparking debates, is all.

Some could not accept Ripple and XRP’s performance in 2017 and claimed Ripple always depend on hype. They described XRP as a pump and dump asset, which can be best performances for short periods but never sustain it. The commenter doubted that it could pull the same thing off.

Others are more tempered down on their assumptions about the XRP’s performance, claiming that it will not be the cryptocurrency’s fault if it does not perform on the same level. Instead, it would be the market conditions that would make it quite possible to return to 2017 levels.

XRP Price Falling Because of Moneygram’s Announcement

While posing record highs just recently in liquidity and being mentioned in US government documents – which are significant wins for XRP, the sudden turn of events just show how difficult is it is for XRP to return to its 2017 performance.

XRP prices are falling these days continuously, and the CEO of crypto hedge Bitbull Capital claimed that this trend is likely to continue. This is likely after all the recent revelations of one of Ripple’s most prominent partnerships.

The first of these revelations is that Moneygram does not hold XRP. It’s going to be surprising to many because MoneyGram is one of the most known users of Ripple’s remittance platform On-Demand Liquidity, utilizing XRP as the bridge currency. However, MoneyGram released a statement that it has no plans to hold XRP. This is a huge blow, aggravating XRP’s already weaker position before the statement was made.

There was hope before the announcement that soon Ripple and Moneygram would have a closer relationship. The hope was dashed.

XRP is in the green on Wednesday, similar to the rest of the crypto market.

Is Bitcoin Doing Significantly Better?

Bitcoin’s price is also experiencing downward pressure.

But unlike XRP, Bitcoin was able to do something about it.

It’s a bullish response to its sudden drop to shocking lows of $6,400 that has led to the cryptocurrency sustaining a significant amount of bullish moment.

It allowed BTC to raise its share prices to $7,000. What is needed right now is for the level to be sustained in the near-term.

But XRP Is Now Listed with CEX.IP

Of course, this sudden negative curve for Ripple does not mean it will not be able to recover or even perform well in the near future. One positive development that took place just today, December 19, is the crypto exchange company CEX.IP listing Ripple for its US market.

With this listing, US residents can now have access to Ripple’s services through CEX.IO. This means accessing Ripple for deposits, withdrawals, trading, and even simple purchases utilizing XRP for USD.

This can be done through Visa or Mastercard.

The CEX.IO Team released a statement of this action. According to the team, it is glad to be opening new trading opportunities for their US clientele. The company already has 20 money transmitter licenses as of now and can already operate across 37 states. The goal is to obtain more licenses in all states so that everyone in the US can access the entire range of the company’s services.

XRP had a Rough 2019, Even with Notable Developments

If one has observed XRP the whole year, it indeed had it quite bad. Prices have been slipping throughout the year, and some prominent traders believe that the drops can reach even all-time lows before the year ends — as low as $0.03.

In addition, XRP has also been criticized recently. Alongside EOS and Binance, all three’s chain nodes are described as too impractical to run.

CoinMetrics recently performed new research on how easy or difficult it is starting a node from scratch on multiple networks. Most networks proved too slow. Most require significant disk space. Based on this information, CoinMetrics rated blockchains according to their audit potential. XRP is one of those that are given a harsh verdict.

Ripple’s XRP allegedly needed vast memory resources to store the complete digital ledger. The Ripple Network DLT and all XRP, and other asset transactions, cannot be stored unless the users have tens of terabytes in space. Given that, banks might be able to do so, but individual auditors will not be.

It remains to be seen how this new research can affect XRP.

XRP Army is reportedly not losing faith, though. Moreover, even with the price drops, there is no denying now that it is a significant player in the cryptocurrency market.

 

Ripple Attained Amazing 2019 Growth; to Focus on Higher Utility in 2020

Ripple had an exciting week so far. It started with the liquidity index for XRP surging beyond 9 million, setting a new record high. Then it got a mention from the Consumer Financial Protection Bureau, signaling that the XRP is perceived as being credible. Now, its future utility is expected to rise, which can lead to further surges on its liquidity.

How sustainable are these positive developments?

Liquidity of XRP Hits New Record

Based on the recent reports, the liquidity of XRP is now beyond 9 million because of Bitso. The Mexican crypto reportedly stimulated the growth of Ripple and Moneygram’s s project.

This is why an additional million to the liquidity index transpired easily. The daily profits reached 92 percent.

Apart from Ripple, however, a strong exchange in the Philippines, Coin L. also witnessed a sharp increase in its liquidity index.

What does liquidity mean anyway? Why achieving a new record of liquidity Is good thing? What could further push liquidity higher?

Utility to Be the Main Success Driving Factor of Ripple in 2020

The cryptocurrency space has long evolved in various ways. Bitcoins at one point were for purchasing pizzas, but now they make it possible for criminals to use in engaging in illegal activities. In 2017, Bitcoins were perceived as a fast way to earn profits because it reached its all-time high prices.

However, speaking in an interview, Ripple CEO Brand Garlinghouse claimed that speculation and illegal use would cease to be the reasons why cryptocurrency projects are taking off, as they mostly have been in 2019.

Instead, the CEO believes that in 2020, the cryptocurrency’s utility will be the main growth factor. The utility will attract more real patronage and more authentic growth. He explained that utility refers to how the digital assets were capable of solving real problems that real customers have. Unless the cryptocurrency projects provide real service, he does not think the whole market will ever grow next year.

With the provision of XRP-powered payments platform, On-Demand Liquidity, a higher volume in 2020 can be reasonably expected, as more corridors open up.

However, as early as now, there are already problems that Ripple customers are experiencing that XRP is capable of solving. One of these is high remittance fees. SendFriend, a major remittance company in the United States, and also one of Ripple’s valuable clients, have already utilized the platform on-demand liquidity to reduce remittances by a significant 80 percent.

SendFriend CEO, David Lighton spoke at the Ripple’s University Blockchain Research Initiative Connect Conference and claimed that traditional remittance fees were genuinely steep. However, because Ripple’s blockchain-based ODL makes the need for working capital obsolete, international money fees are capable of being lowered at least by 75 percent. Working capital requirements are usually the reason behind high fee charges in remittance transactions.

XRP Has a Great 2019

As the year-end approaches, Ripple’s plans for 2020 are increasingly coming into light. There is a general sense that it will focus on being functional and of greater service. However, before 2020 truly arrives, Ripple’s achievements this year should not be overlooked.

Ripple certainly engaged in very strategic moves in 2019, including but not limited to partnerships and investments that propelled Ripple into new heights. These partnerships and investments are the reasons why Ripple is currently at a place that is prime for more growth and development in the next year. These are the reasons why Ripple can serve its customers better in the near future.

With utility being its main focus, 2020 will lead to a major shakeup of the digital assets industry, wherein Ripple can play a leadership role. Utility can determine which projects will be successful and thrive, and Ripple is ready to offer the most useful of projects.

The movements that Ripple had undertaken this year all naturally put it into the radar of many, even that of the US Government. Ripple can mark 2019 as the year that its XRP received legit attention.

A US governmental agency, the Consumer Financial Protection Bureau, cited XRP in a critical document. This is a record-breaking moment for the company, as this happened the very first time in history. The mention is not even minute and easy to overlook. Instead, the agency described XRP in a very favorable light.

It describes XRP as a form of trustworthy remittance tool in the future. It will be capable of solving many of the remittance issues people face now.

The government said XRP can process transactions in a swift manner. XRP also makes it easier for companies to affordably and conveniently carry out money transfers yearly.

Ripple Should Address Massive XRP Transactions

The only thing Ripple should probably be more mindful of and address, are the massive XRP transactions that the community does not view in a positive light. Of recent, there have been exposés of large XRP transactions happening on anonymous accounts that the Whale Alert made.

According to Whale Alert, a total of 150 million XRP exchanges happened between two anonymous accounts, which the XRP community found enraging. Based on the comments of the users, this kind of transaction is harming the price of the token.

More Companies Recognizing Value of Ripple, XRP; Future Developments to Be Anticipated

Western Union is another company now seriously committed to giving Ripple a try. Given that it is presently one of the world’s largest payment service providers, this is an achievement for Ripple. Remarkably, Western Union’s tests are not even yielding positive results of the cryptocurrency’s value for the company’s transactions. Despite this achievement, Ripple is not stopping with developing more remittance solutions. Not even if it already reached record-level liquidity.

Western Union Willing to Keep Testing Ripple

For several months now, Western Union reportedly has been testing it, but still find it unsatisfactory. And yet, Western Union is not shunning the possibility of it one day being a crucial part of its operations just again.

In a recent interview, CEO Hikmet Ersek claimed that the company already has its own money transfer system. At present, this transfer system enables the company to make transfers that are as five times cheaper compared to XRP.

Western Union also claimed that it already did so many tests with Ripple and will continue to do more. The CEO said that even though they learned so much from the tests about Ripple, their referral system is just so much more cost-effective. They found that utilizing cryptocurrencies or stable coins will lead them to incur more costs than using their own system.

Regardless of this present conclusion, however, Western Union has a high level of commitment to testing Ripple’s software solutions and understanding them completely. It is also open to studying the software solutions of other companies.

For the time being, Western Union will still be using their resources more. The company already set up its innovation laboratory to determine how valuable and functional blockchain technology really is for the company.

Whatever the verdict of Western Union is going to be about Ripple in the future, it cannot be denied that Ripple is already establishing a name outside the XRP community.

Just recently, Ripple and XRP were already cited as playing a great role in payments and remittances. This not only means Ripple is becoming more popular. It just shows that the authorities are already becoming more willing to acquire more knowledge of the crypto market and even discuss this.

Ripple Condensed Xpring

Catching the attention of the government is not Ripple’s only focus, though. It recently condensed its quite broad Xpring developer platform into just one site for better integration of payments.

With this new platform, both crypto and non-crypto developers can integrate their payments into all sorts of mobile applications.

This is a positive development considering the fact that the new platform was already announced way back in October.

The company needs two months at least to develop the features they intended. According to the Senior Vice President of Xpring, these features will give users an account associated with the platform.

Beard added that the central hub would be a place for developers where they can manage everything they need to integrate payments into the apps they are working on successfully.

Xpring added the platform’s Software Development Kit could reduce 100 lines of code down to just 21 lines.

The platform is Xprng’s new vertical investment. The company has already been Ripple’s investment arm for over a year.

However, through the platform, it anticipates to build a network of companies using XRP and showcase the many use-cases in relation to cryptocurrency.

Xpring intends for the initiative to act as a method to invest in and grow a developer base with regard to XRP.

Through the wallet, which is accessible now on XRP Testnet, developers can form and manage their account credentials, check their balances, conduct cryptocurrency transactions, such as sending and receiving, as well as keeping track of their transaction records.

Future Developments to Watch Out for

Beard said Xpring does not intend to stop here.

Developers can undoubtedly anticipate new Xpring platform functions that Ripple will launch through the wallet soon.

New developments can ease many of the difficulties experienced in the past when carrying out transactions involving cryptocurrency.

According to Beard, it was really challenging in the past. People needed to piece together and use many tools. This is why many people choose instead to keep most of their cryptocurrency inside hosted wallets on exchanges. This was the less complicated option.

Presently, however, the Spring SDK can already support dependable transaction submission on XRP devnet as well as testnet. This will enable developers to submit efficiently and check the veracity of transactions on XRP ledger.

The kit also supports different programming languages, including the widely-used Python and Go. Other languages supported are Java, JavaSCript, and Swift, among others.

XRP ledger validators concurred to provide access to the XRP ledger stable version 1.4.0.

This provides support to accounts that could be deleted and give users the ability to recover as high as 15 XRP of their minimum account balance.

In the past, users should maintain a balance of 20 XRP on their ledger. In addition, they did not have the ability to move or use these.

Before these developments can eventually take form in the future, members of the XRP community have to remain optimistic, given the achievements of this cryptocurrency at present.

Presently, XRP Has Record-High Liquidity

A record-high volume on the Bitso cryptocurrency exchange has been achieved, which the Liquidity Index Bot was able to track. The volume of XRP against the Mexican peso was able to reach an unprecedented 9,095,160 on 13th of December.

This is quite fast, considering the fact that Ripple’s cooperation with the Mexican exchange was only announced back in mid-October. It certainly helped Mexico, which is one of the world’s poorest economies.

Many had to go overseas to work, so sending remittances is a common activity fueling many householder’s survival. However, sending and receiving remittances can be costly and even slow.

With Ripple’s investment in Bitso and offering the payment solution On-Demand Liquidity, sending and receiving remittances at a faster rate and lower prices are now possible for the Mexicans.