The United States – Asheesh Birla, an executive from Ripple, shares that RippleNet’s transaction involved XRP by 20%. The ODL or On-Demand Liquidity of Ripple solution influences XRP as its default movement. Ripple’s price is at a support level of $0.2800, and it’s over the United States or the US dollar. It’s trading at $0.2980.
Asheesh Birla shares in his Twitter how RippleNet utilizes XRP for its transactions, resulting in 20% utilization. The On-Demand Liquidity or ODL of Ripple influences the cryptocurrency.
Ripple’s SVP, for corporate and product development, Asheesh Birla, used his Twitter account to share the news to everyone about RippleNet’s utilization. On his tweet, he stated that Bitcoin reaches $12,000, OCC got greenlighted banks for involvement, DeFi is improving, and future products are rising. Also, he mentioned that stablecoins’ attuned tax value was in an ATH or all-time high.
The ODL solution’s transaction volume, which is RippleNet, is indistinct. The clients have a choice to utilize it when RippleNet doesn’t impact the digital asset. However, the ODL does affect the altcoin by default.
Ripple started in November 2019 that there are more than two dozen clients who utilize the ODL solution. It includes Viamericas ann MoneyGram. As per The Block, most of these clients obtain incentives from Ripple for the utilization of the solution.
Ripple’s ODL solution assists Australia’s market, along with Mexico, and the Philippines. The company previously stated that the assistance for Brazil would come soon. Furthermore, corridors in the region of Asia-Pacific, Middle-East, Latin America, Africa, and Europe are in progress this 2002.
The XRP/USD pair experienced two-straight red meetings. It hugged the lower curve, while the price decreased from $0.2792 to $0.2776.
The XRP price holds its place at the support level of $0.2800 over the US dollar. The price is at $0.2980, which might upsurge.
After the downward movement, Ripple discovered the support level that’s close to $0.2800. The low price is close to the $0.2790, while the digital asset corrects higher.
The upside halt is over the resistance levels of $0.2850 and $0.2900. The XRP price increased over the Fib retracement level of 23.6%, from $0.3274 to $0.2790.
There’s a significant bullish movement in the support-level, which is close to $0.2810. The pair trades over the $0.2920-price level, yet it’s encountering a massive barrier close to the zone of $0.2980 to $0.3000. The 100 SMA or Simple Moving Average is close to the price level of $0.2980 to avoid an upside halt.
There might be a boost if there’s an apparent halt over the resistance level of $0.300. The succeeding hurdle is close to the $0.3030-price level, and it’s near to the Fib retracement level of 50%, which is the downward movement. With this action, the price was from $0.3274 to $0.2790.
A successful halt over the resistance levels of $0.3000 to $0.3030 might create an opportunity to sustain the upward movement until it reaches $0.3120. Further increases might lead the XRP price to the resistance levels of $0.3250 or $0.3274.
XRP has been moving around the region of $0.30 in the previous days. The price breaks back over the level, which is after trading underneath it.
The price action in the previous weeks of XRP had a mix. It had a rally, coming from a low price of -$0.20, which is the indicator of overperformance. The several declines it had was at $0.33. It appears that it had trouble in the close-term viewpoint.
Analysts are keen on the impetus of XRP. On the other hand, many are noticing that the previous consolidation stage might be a way for the price to coil up before it moves further.
A trader stated that the cryptocurrency is combining nicely, over the 200-day mA or moving average. This trader thinks that there’s a firm hold over the $0.30-price level, which might spark a new move upward.
There’s also a similar note, where another analyst watches a rally going up to $1.00 in the close-term. He thinks that the price will have a continuation, which is by some significant factors.
XRP is exchanging at $0.30. The distinguished movement from a previous low price, which is at $0.27, happened in some instances during the last week.
The bullish support had sufficient momentum as the cryptocurrency was able to regain its 200-day MA or moving average and a significant horizontal resistance for $0.30.
XRP will be able to get further incursion of purchasing pressure, which makes it swelling higher.
A trader mused this probability in a previous tweet, enlightening him that he anticipated further upside as the bulls protected the levels.
As per the reports from Manila Standard, Ripple is searching for growth in the Philippines. It plans to present the ODL or On-Demand Liquidity of XRP. It’s open for virtual payment, and it has three partners in the Philippine market, which are SendFriend, Azimo, and Coins.ph.
According to the report, Ripple is assisting Filipinos across the globe in transferring money. They can send it at a lower cost and a faster time to their families in the country. Kelvin Lee, the Ripple’s head for Southeast Asia, stated that Ripple enhanced the ODL to resolve the so-called “liquidity trap” in global payments.
Lee enlightened further that the ODL is utilizing the digital asset as its bridge, which solved the problem worth $10 trillion. They will use these funds to establish pre-finance accounts in international payments. With this, RippleNet clients that have XRP can receive liquidity, and they don’t have to keep a pre-funded account for all currencies around the world.
The head of Ripple, which is in Singapore, stated the region’s significance in the Asia Pacific, which is the company’s target region. Over half of the customers are in this region, and the Philippines is becoming an important market for the most significant transmittal destinations globally.
CALIFORNIA, The United States – XRP trades more this quarter-two compared to quarter-one of the year. The total sales for the second quarter ended at $32.55 million, while the first quarter ended at $1.75 million. Now, the price of XRP earned a 64.78%-increase, which is a year to date.
Ripple’s XRP experienced a decline in quarter-one of the year, yet in the second quarter, it bounced back after Ripple traded more. Thanks to its request for established buyers, it earned in quarter-two.
The total sales for XRP in the second quarter of the year was at $32.55 million. There’s a big difference from the first quarter’s sales, which was at $1.75 million. The increase was over 18 times, as per Ripple. XRP’s sales endured the pause in “programmatic sales,” which means open market trade sales, instead of shifting all trading activities to OTC or Over-the-Counter markets.
Ripple included this shift as its strategy to provide boosted XRP liquidity to the customers of ODL or On-Demand Liquidity of RippleNet. As per the company, they saw an increase in the interest from funding establishments in utilizing the solution.
As per the report, funding institutions are witnessing the value of the ODL of RippleNet, providing immediate international payments. It also includes meeting market requests, especially during the COVID-19 situation because of the boosted volatility and uncovered risk. The report also stated that the ODL created about 20% of the volume of RippleNet in quarter-two.
RippleNet faced 11 times of growth in the transaction volume of the ODL, comparing H1 2019 with H1 2020.
The XRP price responded positively to the new statement, where it outperformed several significant digital assets.
Now, XRP increased by 3.8% in the previous 24 hours, exchanging the price of $0.3117. The earning follows what XRP gained in its seven-day gaining, which is more than 40%. It makes Ripple the biggest among the top 100 digital assets by market capitalization.
In a short term analysis, the digital asset market broke, where there’s a restriction of significant assets between support and resistance. XRP had a sudden increase since February 2020. As the price of XRP increased between $0.2141 and $0.1701, and the crypto market hit a low point, even as depositors’ proceeds were in single digit, which is a year-to-date. On the other hand, the increase from the market at the end of June amended the XRO trend. It reported earnings of 64.78%.
As the XRP altcoin boots, it formed a bearish trend, which might direct to the breakdown of the altcoin again.
As per the four-hour XRP chart, the asset value escalated since July. The driving price established higher daily. There’s an immediate boost in the market of Bitcoin, which pumped the price of XRP after the quick correction.
The XRP price exchanged at $0.3061. If the asset drops, it might verify XRP market’s bearishness.
There’s an increasing channel beside higher highs and lows, where’s a bearish pattern. While the XRP price increased in the channel, the XRP breakdown appears imminent. Presently, the Bollinger Bands deviated, and it suggested an uptrend in the cost of the asset.
SAN FRANCISCO, California – RippleNet’s ODL or On-Demand Liquidity experiences 11 times of growth, as per the XRP Markets Report. The sales for XRP surge in the second quarter, having $32.55 million. Aside from that, Ripple bulls’ price rallies to $0.325, yet it couldn’t continue because of the $0.241-price drop recently.
According to the XPR Markets Report, it shows that the ODL of RippleNet faced a growth that’s 11 times larger than last year. As for the XRP sales, it increased in quarter-two. The boost was after it hit a low price in the 2020’s first quarter. As it grows, the ODL network of the firm stays popular.
As per the quarterly report of Ripple, which they released on August 3, the sales of the XRP token of Ripple recorded 18.6 times bigger than the sales report in 2020’s first quarter. The digital asset company noted that XRP sales reach $32.55 million, and the duration was from April to June 2020. In the first quarter, it earned $1.75 million. However, many complained about the company to sustain the balance sheet with XRP trades.
Ripple stated that sales grew after the company prioritized OTC sales instead of programmatic ones. It’s part of the company’s effort to deliver boosted XRP liquidity to the ODL customers. RippleNet’s ODL grew 11 times more from last year to 2020.
Cointelegraph conveyed that the price of XRP rallied in the previous seven days, which is at 40%, while in the last 24 hours, it’s nearly 8.5%. Several experts predict that XRP might even increase to $0.30 if Bitcoin (BTC) stays stable at $11,346.
The price increase attracted depositors, and about 30 new whales for XRP has $240,000 to $2.4 million in their accounts.
As the XRP sales increases, the price continued to rally $0.325, yet it couldn’t endure the uptrend since it faced a drop to $0.241 recently.
The price improved upward, over $0.28 high, and in the following day, purchasers continued driving the price up. XRP received, yet the price is at $0.32. The upward movement stalled at the high-price level of $0.32 in the previous 24 hours.
Purchasers still struggle to push the price of XRP over the recent high since the price dropped after retesting twice at the resistance level. The market will increase, depending on the present indicators. Also, Ripple is probable to grow to $0.335, if it breaks the resistance level.
XRP will endure moving up as the price stops over the resistance level of the increasing channel. This digital asset is trading over the 80% range, yet the bands are leaning southward. It indicates a strong momentum, yet the price movement displays strong signals.
The price of XRP is dropping under the $0.32-resistance level while purchasers try to drive it over the previous high. After retesting at a price level of $0.32, a red candle body tested the Fibonacci retracement level, which is at 0.618. It specifies that the market will hit the Fib extension level, which is at 1.618. Plus, Ripple will increase to $0.335 in few days.
TEXAS, The United States – Ripple sends more than $15 million of XRP in quarter-two to MoneyGram. The purpose of the transfer is to provide liquidity for the XRP-based cross-border payment scheme. Aside from the Texas-based company, a Japanese-based company with XRP affiliation declares giveaways in XRP.
Ripple, the third-biggest digital asset by market capitalization, transferred more than $15 million of XRP to a cross-border payment network, MoneyGram. During quarter-two of the year 2020, MoneyGram, an XRP-based company, received the funds, and Ripple defined the transaction as market growth fees.
MoneyGram, from Texas, has an exact $15.1 million, which Ripple provided. With the offsetting business outlays, the net benefit is $8.8 million.
In the previous year’s report, MoneyGram defined market enhancement fees as an advantage for offering liquidity to the ODL or On-Demand Liquidity network of Ripple. The payments layer is utilizing the XRP altcoin to transfer money across borders.
In quarter-one, MoneyGram received $16.6 million, having a total compensation worth $31.7 million. Aside from that, the company received another $11.3 million in 2019.
Ripple sent a total of $43 million to MoneyGram to offer ODL network’s liquidity, and it completed the acquisition of $50 million equity share in the cross-board payment network in November.
If this Texas-based company received millions of XRP from Ripple, this Japanese-based company gives away XRP tokens.
FXCoin, a Ripple-affiliated company, might let Japanese users end up with XRP altcoins after the company declared an altcoin giveaway, and new account holders are eligible. It’s one of the most prominent digital asset players, and it stated that it’s planning to pay eSports players, along with managers, in Ripple’s XRP.
FXCoin will send 50 XRP, which is around $12, to all newly established account holders. As per the official release, the digital asset exchange declared that the giveaway is subject to accessibility. It would be on a first-come-first-served basis. The date set by the company is until August 31.
The exchange included customers who exchanged 250 XRP, which is $61, or more with this company might also get the extra 50 XRP.
The giveaway is not unparalleled because SBI VC Trade, the digital asset exchange branch of SBI Group, had another comparable promotional offer for customers involving 50 XRP giveaways in May. The Japanese-based bank, SBI, provided the reward to some of its stakeholders with the benefits of being an XRP shareholder as well.
SBI Group is the biggest partner of Ripple in Asia, and it’s famous as the banking giant.
The banking giant stated that it’s considering a project that might include paying pro gamers via XRP.
According to Coin Post, a media outlet, the business group introduced a new professional gaming subordinate named SBI eSports. The company recommended that XRP might work as the primary currency for the new business. Also, Ripple altcoins utilized as wages to eSports teams’ managers and media coverage. Plus, the company uses this digital asset to supply money to eSports consultancies.
Now, XRP exchanges at $0.25. Despite having 22% downward rage for the year, the XRP price boosted by 21% in one week, and 38% in one month.
United States – Bitcoin started the year at a $7,236-price level and ended at $6,384. As for XRP, this digital asset by Ripple started the year at a price level of $0.1939, and it hit the closing price of $0.1740 for this year’s first quarter.
Aside from price surges, Ripple also faced struggles from a former depositor after the “unregistered security” case filed by the plaintiff named Bradley Sostack.
As Messari studies the first quarter of this year, Ripple’s XRP is a part of the list for the worst-performing digital assets in the crypto market.
Ripple exert efforts to boost the XRP adoption for the ODL solution, yet this cryptocurrency endures to drop further.
Xpring, a Ripple-powered open-developer project, announced that 1.5.0 and 1.6.0-b1 versions of the XRP Ledger or XRPL are available. These come with new developments and features.
Messari Evaluates XRP’s Q1 and Notices Crypto Sales Tactic
Messari shared a new report, displaying that Ripple’s XRP is the poorest performing digital asset for this year’s first quarter. Messari compared the performance from the 25 most significant digital assets, including Bitcoin.
Bitcoin, the leading digital asset by market capitalization, started 2020 for $7,236. It stopped at the price of $6,384 for quarter-one, wherein it had a decrease of 11.77%. As for Ripple’s XRP, this cryptocurrency started this year at a price level of $0.1939, wherein it ended the quarter at $0.1740. Hence, the price dropped by 10.26%.
The pullback of XRP was when Ripple falsifies new dealings to control the liquidity solution of the company, which is the On-Demand Liquidity or ODL platform. Bitso, the top Bitcoin exchange-company in Mexico, stated that it’s utilizing XRP, making it a link-currency to control 2.5% of the transmittals between Mexico and the United States or the US.
Messari emphasized that the tactic of Ripple, which is enabling sales of XRP, began in quarter-two of last year, 2019.
Ripple said that crypto-asset sales are minimal to control the price. These are also comparatively little compared to the daily XRP volume. Hence, the company intensely scaled back on its mundane programmatic trades while reducing deals to organizations OTC or over-the-counter. As per Messari researchers, the reduction of XRP sales affected the XRP price a little.
Messari commented regarding the Ripple’s securities case, as well.
Bradley Sostack, the previous depositor of XRP, was the lead plaintiff of the lawsuit, accused Ripple of unlawfully selling XRP as “unregistered security.” The company broke the securities law of the US. Furthermore, a national judge denied the indication of Ripple to discharge the case.
XRP as the Worst Performing Crypto-Asset for 2020
Ripple exerted their best efforts to hasten the XRP adoption. However, this digital asset experienced a downtrend, which might hit another lower lows.
Messari stated in the previous report that Ripple’s XRP is a part of the worst-performing digital assets in 2020’s quarter-one.
Ripple devoted to working as responsible and disciplined shareholders. However, the company sold $1.2 billion worth since the year 2016, which risked the excellent potential of the altcoin.
The cross-border transmittal token started 2020 at $0.19, surging to a price of $0.35-high in the mid-week of February. On the other hand, the XRP price dropped by 70% throughout Black Thursday, hitting unseen levels since the year 2017. After the crash, this cryptocurrency still executed off-colour.
Various depositors wondered whether quarter-two would witness the XRP price to endure hitting lower lows as the interest declines.
XRP is exchanging down since it hit an ATH or all-time high price of $3.5 in the year 2018. After the movement, the price started running a series of lower highs and lows.
A strong instinct that lets the cross-border transmittal coin to end over the high price in February, which is $0.35, might be the start of a new upward move. Till it occurs, XRP’s downtrend might probably endure.
Ripple’s XRP might decrease to the next support level, which is at $0.062. Meanwhile, it seems that it’s moving out of the Rising Wedge structure. This technical development was a direct result of this cryptocurrency’s price action in the previous weeks. One trend links the respective highs as another connects the lows.
XRP might decrease 24% more to hit the $0.15-target price since this digital asset broke under the lower line. The target is from the rising wedge’s height, at the thickest point. Moreover, it’s including the distance of the height from the breakout zone.
Ripple expressively decreased the XRP sales every quarter after overflowing the crypto market with altcoins. The company traded $13 million worth in the last quarter of 2019. The total is an 80%-reduction from quarter-four of 2019 after selling $66 million.
Ripple’s efforts were in vain as it was not able to alter XRP’s course. The cryptocurrency endures establishing lower low-series without moving out of the trend since 2018.
The CEO of Ripple, Brad Garlinghouse, stated that the company might not be gainful. It may not have positive cash flow without trading the token while having an on-going case. Depositors should know this perspective.
XRP Ledger Version 1.6.0-b1 Comes With New Enhancements
Two versions of XRP Ledger, version 1.5.0 and 1.6.0-b1, becomes available as per a report. Xpring, an open-developer project by Ripple, shared the versions’ new enhancement. The information came from this platform’s office Twitter account, as well as in its website on April 11.
Xpring stated that the versions of the XRP Ledger or XRPL are available with new improvements and features.
The XRPL 1.5.0 version’s packages declared its availability in recent weeks. The Rippled version (1.5.0) provides various developments into the XRPL, which supports API versioning, API, gRPC, UNL circulation, enhanced protocol-level handshaking procedure, and new RPC ways. It also includes augmented submit technique, developed tx method, improvided package establishing, and several bug fixes.
The improvement endures within the ecosystem of XRP. As per the report, the 1.6.0 version is the first beta variety. The report stated as well that the deployment for the “rippled” version 1.5.0 would take place on April 15, on the XRPL Testnet. Ripple hosts XRPL Testnet, along with Xpring. The improvement will let developers examine the application with fake XRP that shows the newest steady version on the XRPL.
Moreover, an update for the “XRPL Mainnet rippled” servers will come from the team of Xpring. It includes validators and clusters.
The United States – The XRP price succeeds to exchange over $0.197 in the previous 24 hours. It appears that the bears take charge of the altcoin.
In one day, the XRP/USD pair experiences rejection over the price of $0.202.
XRP witnessed a price hike of 12.55% in the previous week when the price tested at the level of $0.20. It halted the past consolidation outline after breaking the $0.18-resistance level.
Various cryptocurrency exchanges, including Ripple’s partners, moved a significant amount of XRP to different digital wallets. The transfer amounted to 157.7 million XRP. Moreover, the previous CEO of Ripple is a part of the transaction.
XRP is in “green” status after exchanging at $0.19. Also, the XRP liquidity in the biggest ODL ara of MoneyGram hit a new high price.
XRP Price Converses the Line After Failing to Retain at $0.20
Ripple’s XRP didn’t make it on the total gaining splurge in the cryptocurrency market. In the previous 24 hours, the XRP price increased by 2.54%, wherein the price value over the United States or the US dollar rose to $0.1978.
In the previous week, the exchange frequently exchanges about $0.18 until April 6. However, the XRP price established a strong movement, and it endured to trade up, crossing the $0.20-price in the succeeding 24 hours. On the other hand, the price experienced a decline, wherein it dropped to $0.19, yet it recovered again.
XRP was exchanging at the price of $0.1929 at the beginning, and after six hours and more, it increased by 5.13%. It even hit the amount of $0.2028, which is the highest price for the day. Furthermore, a price correction of 3.94% succeeded in the increase, wherein it cost this cryptocurrency worth $0.0080. However, the price decreased to $0.1948.
The XRP price had a sensible upward action after reaching $0.1948. The currency earned value by 3.95%, and it pushed the price to $0.2025. On the other hand, the price can’t stay at a high price, and the value began to decrease. Furthermore, the price had a 2.02%-trim, and it’s at the amount of $0.1984.
The current value of Ripple sits at $0.1978, which was exchanging under the moving average of 20 days and 50 days. The MACD sign displays bearish border, and according to the trend, the XRP price may combine about $0.185 in the coming sessions.
The following resistance level at $0.2042, XRP endures to exchange over. Depositors need to prepare to experience little unparalleled price blows.
XRP Price Faces a 12.55%-Price Hike at $0.20-Price Level
XRP witnessed a price hike of 12.55% while it knocks at the resistance level of $0.20. The XRP coin retained with a rising triangle structure for the previous three weeks, yet it was able to break out. It’s when this digital asset surged over the price level of $0.18.
The way for XRP will open to begin reaching the level of $0.24 once it hits the $0.20-price. On the other hand, this digital asset will have to stun bullish resistance at the price of $0.211, where the EMA of 100-day is.
Moreover, XRP is exchanging at resistance from the EMA of 100-day over Bitcoin. This cryptocurrency also faces opposition at a dropping line. Once it breaches these resistance levels, XRP is free to go back to its high price, which is at an SAT of 3,000.
XRP is on the third place for having a market capitalization of $8.75 million.
The XRP price stays neutral until it can halt the dropping line, which will be bullish. The primary support level is at 2710 SAT if the traders drive the price lower. The support zone is at 2677 SAT or a Fib retracement level of .382, 2600 SAT, and 2557 SAT.
However, if the XRP bulls can stop the EMA level of 100-day, the resistance level over is at 2800 SAT. Moreover, the resistance zone is 2850 SAT, 2900 SAT, and 3000 SAT.
Binance and Bitso Transfer 157.7 million XRP in 22 hours
Significant actions of a digital asset always reflect on high interest for the cryptocurrency community. XRP can contend with the most popular crypto, Bitcoin, wherein the crowd is as devoted as the community of Bitcoin maximalists.
On the other hand, Binance, the Mexican Bitso, and other digital asset exchanges transferred over 160 million XRP in the previous 24 hours. It even involved unknown depositors, and the past Chief Executive of Ripple is also a part of it.
As per XRPL Monitor, unknown wallets and digital asset exchanges previously moved 157.7 million XRP one account to another. Chris Larsen, the former CEO and co-founder of Ripple, is included in the list of senders with a significant amount. He transferred 10 million XRP, which is worth $1,992.09.
As for Bitso, the On-Demand Liquidity partner of Ripple moved 38,837,866 XRP, which amounted to $7,736,852. Binance, a blockchain tycoon, transferred 30,000,000 XRP, which is worth $5,976.27. Some of the transfers also included Bitstamp, BitGo, and other unknown digital wallets.
Larsen, one of the involved people in the XRP transfers, was one of the infected victims of the coronavirus. As per U. Today, the former CEO shared the information about his full recovery from the said virus. Moreover, he encouraged the rest of the survivors to donate their blood for the victims. As per medics, the blood of the survivors has antibodies that they can use for treating patients.
XPR Price Aims Over $0.24 as Liquidity Index Reaches 23.8 Million
XRP, the third-biggest digital asset, exchanges at $0.1987 presently, and some think it might boost sooner, hitting the threshold of $0.20.
Protixder, a crypto trader from TradingView, shared a crypto chart, and it displays the XRP price’s path, wherein it’s showing a longer-term at a target price of $0.24.
Another trader under the user Alex_Clay stated that his prediction about the price is presently testing the $0.20-resistance zone. If the result is bullish, it will endure development. According to him, the price completed the target after it hit the primary purchase zone. As it tests the resistance, it will take the long term if there’s a verified breakout.
The trader under the username David_Smith wrote that XRP is establishing an Increasing Wedge outline, which provides a bearish indicator. According to the trader, the price is still out of the horizontal resistance, wherein it has an increasing section. The price may have an alteration to the pattern’s lower border because of the price rejection. If the price breaks the edge downward, then the price will go down.
The XRP Liquidity Index, which is in the Mexican ODL area, hit a new ATH or all-time high worth 23,846,931. It increased and surpassed the previous 23,565,530-ATH. The liquidity of this cryptocurrency, along with adoption, are boosting. Moreover, in the other two corridors, Twitter bot monitors these are near to hitting a new ATH, for the Philippines and Australia.
Mexico – Ripple and Santander team up to launch a blockchain-powered payment application that will hit Mexico this 2020. The app called One Pay FX started in 2018. Now, it has six more countries, including Spain, Portugal, Chile, Brazil, the United Kingdom, and Poland.
One Pay FX targets to provide clients with improved certainty and transparency, as well as the customer experience at a sub-optimal state.
Ripple is on the search for an engineering manager who can help in establishing On-Demand Liquidity, as well as controlling the performance of XRP.
The XRP price failed to reach the resistance zone of $0.192 in the previous two days. Now, the price is at $0.176.
The couple shared on a Reddit account how the Ledger Chrome Extension led them to scam, wherein they lost more than 14,000 XRP. However, some community members from Reddit are doubtful on the post of the said victims.
Ripple and Santander Introduce Blockchain-based Payment Provider
Santander is the 16th biggest bank worldwide, wherein it has assets worth $1.74 trillion that’s under the management. This bank is preparing to introduce a payment application or app called one Pay FX, which is Ripple-powered. Moreover, it’s targeting the market in Mexico this 2020.
In the year 2018, the blockchain-based worldwide payment provider went live. It added six countries, which include Portugal, Brazil, Chile, Poland, Spain, and the United States or the US.
As per a case from the US SEC (Securities and Exchange Commission), the multi-corridor worldwide blockchain app of Santander targets to provide clients with further certainty and clearness. It also aims to enhance the present sub-ideal customer experience, as well as the client tackiness via the best international payment scheme.
Typical borderless payments can reach five days before the process. One Pay FX states that the users can anticipate the fees to contact them on the same day of the transfer while profiting from viable rates.
One Pay FX also offers a unified virtual experience with numerous specifics regarding every transaction. It includes exchange rates, bank charges, estimated delivery time, as well as a notice on the fund received.
One Pay FX utilizes the messaging payment scheme of Ripple to transfer money on different currencies. It’s in contrast to the native token of Ripple, which is XRP. This tech product is a rival to Swift, a worldwide funding network. Moreover, it supports banks in settling real-time fiat-to-fiat exchanges, which is by utilizing the messaging system to clear up and confirm details of transactions.
Ripple Mocks Next-Gen Exchange Platform Related to XRP’s ODL
Ripple’s new employment opening reveals the desires of the company to establish an exchange platform. The project connects to the On-Demand Liquidity or ODL, a cross-border remittance solution that XRP supports.
Ripple intends to employ an engineering manager, who will assist in building ODL. These engineers will leverage the low transaction charge, scalability, and speed of the third-biggest cryptocurrency by market capitalization.
The job listing by Ripple teases the exchanging scheme of the succeeding generation, combined with ODL.
As per the management, they’re searching for an engineer manager who can lead and mould the ODL customer experience’s team. This manager will also integrate the team in the next-generation exchange project, as well as be a part of the impending trajectory of RippleNet and On-Demand Liquidity.
The hired manager will stay at the San Francisco head office of Ripple, and he or she will devote about 50% of the time in coding and revising the code, design, and architecture.
The performance of the exchange project with ODL is still unclear. The Chief Technology Officer of Ripple named David Schwartz previously unveiled that it’ working on an aspect, which might allow users to introduce asset-supported altcoins on the XRP Ledger.
Last year, in September, Ripple developed the Logos Network. The company anticipates the decentralized remittance startup to support Ripple in establishing distributed funding schemes on the XRP Ledger.
Schwartz stated that the team from Logos would lead a continuing enterprise as part of Xpring. It will discover a Decentralized Financial or DeFi scheme, which will influence XRP in the core. Also, the team is exploring to control cryptocurrency to convert finance and payments as part of their other ideas. Moreover, the Logos team will convey more horsepower to what the team from Xpring can provide.
Ripple introduced ODL back in the year 2018, wherein it’s to provide funding institutions and banks with a controlling-compliant method to transfer money globally with the help of XRP.
ODL depends on cryptocurrency exchanges to take cash and move the equal value in XRP on borders. It can convert crypto to fiat currency. Moreover, MoneyGram, the partner of Ripple, is the most significant ODL user. It moved 10% of the everyday-volume between Mexico and the US via the technology.
XRP Price at $0.176 Faces Hefty Resistance at $0.192
The XRP price action took a different path from Ethereum and Bitcoin, wherein this digital asset is the sole one to have reports about gaining in the previous 24 hours.
In the past two days, the price of XRP followed in crossing the previous rising triangle. It can’t rise over the resistance level of $0.192 because of the bearish Fib retracement level of .618/ Moreover, the XRP price presently sits at $0.176.
The initial resistance level of Ripple’s XRP is at $0.182, wherein pushing over it, the resistance is at $0.192, $0.22, and $0.29. The Relative Strength Index or RSI was able to reach over 50. On the other hand, it fell back to the mid-level after the rise. The fall indicates that the vendors regained control. Hence, it might put Ripple under the line.
The XRP price jumped back from the lows of 2020, thanks to the market crash. It recovered 13% throughout the previous three days to hit the SAT of 2800. Moreover, the XRP price withdrew, which went down to the SAT level of 2710.
The primary resistance level of XRP is at the SAT of 2760 before it established the SAT of 2800. Hence, the resistance zones are 2850 and 2900 SAT.
The RSI breaks over the 50-level, which indicates that purchasers are recovering control in the market impetus. If it stays in play over the 50-level, the price of XRP might rise to an SAT level of 2850.
Couple Loses More Than 14,000 XRP due to Ledger Chrome Extension
One United Kingdom or UK citizen named Lean Nekera posted on Reddit on March 28 about how she and her spouse lost an estimate of 14,800 XRP or $2,500 from utilizing a Ledger extension, which was on the Google Chrome browser. Some members of the community observed a mistake from the two, which lead to rage responses, having more than 60 comments.
As per Nekera, she moved the XRP funds to the Chrome browser extension from the offline Ledger wallet. Some experts labelled the transfer as a scam. Extension blips that re-appear on the Chrome appl store reported more cases of scams since the year 2018, while the app is not working.
Despite the report about Nekera’s scam incident, it raised doubt on members of the Reddit community. The account listed significant transactions in the previous days, aside from the 14 million XRP coins in her wallet.
Nekera reported the incident to authorities such as FBI, the local fraud department in the UK, and Ripple. As per the reports from XRP Forensics, the account scammed depositors in the previous month, which is worth 1.4 million XRP.
United States – Despite the surge in the last 24 to 48 hours, the outlook for Ripple’s XRP seems to be down. It might witness a strike caused by a Death Cross. On the other hand, Ripple compensates MoneyGram an $11.3 million worth of XRP for providing liquidity to foreign trade markets. Moreover, this cryptocurrency trades under $0.16 despite the 2.5%-increase, losing confidence over Bitcoin. Price dropped from $0.19 to $0.157 in the previous two days.
XRP to See a Swing in Coming Decreases as Death Cross Comes out
Ripple’s XRP established a high connection with Ethereum and Bitcoin. Even though the coin rushed slightly in the previous 24 to 48 hours, the inclusive outlook appears miserable. It’s primarily because of the construction of an increasing channel outline. On the other hand, the Relative Strength Index or RSI also aids in a downtrend.
XRP’s one-hour chart indicates downtrend signals in the coming future. An increasing channel makes the price of this cryptocurrency jump between the network, which is producing a concluding breakout to the shortcoming. The XRP price is near to a breakout, yet it’s not there.
The previous surge, dated from March 18 to 20, initiated the price to increase to the channel’s higher line. On the other hand, the upsurge was passing, triggering the amount to decrease as soon as it ascended. The XRP price attempted surging to the higher line once more throughout its descent. However, the channel’s centerline cut it short, which performed as a conflict.
The XRP price, from the present position, has a resulting decrease of 5% to 6%, and it will take this cryptocurrency to the channel’s lower line. There are two means wherein the price of XRP may play out. First, it will escape to the downside finishing the rising channel outline. Second, the XRP price jumps back to the channel once more.
The primary situation has a higher chance of incidence since the RSI is on a downtrend, as well. The RSI will touch the oversold area, wherein the drop or bounce will define if the XRP price will follow set-up 1 or 2.
The decrease will prolong from 6% to 16.75% if the XRP price selects scene 1. On the other hand, if otherwise, there’s a probability for a little surge to the channel’s higher line at $0.1728.
Furthermore, the bearish situation appears more reasonable because of the death cross’ formation. It happens once the 50-day moving average goes below the 200-day one. As for the case of XRP, the yellow line is going below the blue line, which indicates a superior bearish pressure.
MoneyGram Sells $11,300,000 XRP After Partnership With Ripple
MoneyGram shares that it sold $11.3 million XRP, which it received from Ripple. The funds were part of the business agreement of MoneyGram and Ripple after becoming partners.
In the newest Securities and Exchange Commission or SEC filing, MoneyGram states that it received the funds as a reward from Ripple, which is for utilizing the On-Demand Liquidity or ODL project to enable cross-border transfers.
According to MoneyGram, Ripple compensates for the company via XRP. It’s for developing and transporting fluidity to international exchange markets, wherein they facilitate the OLD scheme there. Moreover, the compensation is for giving a dependable level of global exchange trading movement.
The ODL of Ripple settles transmittal payments in real-time by changing the currency of the sender to XRP. The transfer moves cryptocurrency across the world, and it’s converting it to the money in the destination.
Mentioning a representative from MoneyGram, The Block unveils that it quickly settles all XRP from Ripple. As per the spokesperson, the Texas-based company received the funds worth $11.3 million as incentive outgoings. However, it traded the XRP funds after receiving these.
MoneyGram and Ripple move into a tactical agreement for foreign exchange payments and cross-border transactions in June 2019. Ripple attained a $50-million stake, which was from MoneyGram.
MoneyGram states that it’s utilizing XRP to transfer 10% of the deal volume between Mexico and the United States or the US.
XRP Price Regains as Liquidity Index Begins to Speed up
The XRP price reached the $0.1696-target price, and it’s the first time since March 20. The price fluctuated before in the range from $0.16 and $0.15, despite managing to increase to $0.17 shortly.
XRP is exchanging at a level of $0.16 presently, and the XRP liquidity index in international ODL corridors took off the unmoving point where it ended last week. It’s also the time when Bitcoin decreased to $3,800.
The previous information from the OLD corridors in the Philippines, Australia, and Mexico displays a steady increase from the lows.
XRP Brawls for $0.16 yet Drops Buoyancy Over Bitcoin
Ripple’s XRP increased to the resistance level of $0.191 from the previous analysis. However, it dropped to the present $0.156-support price. It ended over this support level for the last two days, which displays that the bulls continue to battle with control. Nonetheless, this cryptocurrency returned to the trading session last week in an exchange range from $0.136 to $0.161. Moreover, it should end over $0.17 for the price to increase further.
The initial point of higher resistance is at $0.171 if the bulls recover from the present support level of $0.161. Moreover, the strength is at $0.182, $0.191, and $0.20. On the other hand, the support level may be at $0.15, $0.14, and $0.136 if the traders push under $0.157. Furthermore, more support is at $0.13, $0.12, and $0.10.
The Relative Strength Index, or RSI, has been increasing. Yet, the price stays under 50, wherein it displays that the traders still take over the market impetus. Moreover, the Stochastic RSI has overbought situations, and a bearish crossover indicator might make XRP price lower.
As for the XRP/BTC pair, XRP dropped under the SAT support of 2710, and it endured to decrease until it hit the 2525 SAT. This digital asset was bearish over Bitcoin after discovering resistance at the SAT level of 2850.
A break under 2500 SAT might cause XRP to be very bearish over Bitcoin, and it might probably head to 2400 SAT.
Support is at 2500 SAT, 2455 SAT, and 2411 SAT if the traders break the SAT of 2525. An added support is at 2350 SAT if traders drive under 2400 SAT.
The initial resistance level is at 2600 SAT if the bulls can recover. Moreover, the resistance level is at 2710 SAT, 2750 SAT, and 2800 SAT.
The RSI dropped under the 50 level as the traders take over the cryptocurrency market impetus. On the brighter side, RSI is at oversold situations, and a reliable crossover indicator might display the selling pressure is beginning to diminish.
United States – Ripple’s XRP sat on white space, putting it on the verge of falling. However, the third biggest cryptocurrency jumps back as it improved the price beyond $0.14. Moreover, the XRP/USD is also hitting over $0.15, wherein the pair’s triumph is also after price decrease previously.
Ripple’s XRP on the Edge of Free Fall as It Sits on White Space
The market slashed XRP prices to levels, which didn’t occur since May 2017. Regardless of the agonizing sell-off, one noticeable cryptocurrency expert approximates that the primary asset of Ripple might be on a free fall.
The 45-year-old trading expert named Peter Brandt previously stated that Ripple’s XRP is on the “white space’s” top. Based on the prices listed since August 2016, Brandt displays that there are no funding stages that might assist XRP in case of further failure.
Support is lacking, and it’s a price action-result succeeding the $3.3 peak back in January 2018. Since that year, the token experienced a persistent downtrend, wherein it devastated 96% of the value.
There’s a different way to guise at it, as per Brandt. He stated that almost all who purchased XRP in May 2017 have losses.
Despite not anticipating the precise XRP’s price trajectory, Brandt is not favorable. He explained that XRP is not a real cryptocurrency. As an alternative, he elaborated that it might function as a monetary apparatus for spectators who assumed that digital asset is a belief.
Regardless of XRP’s status, this cryptocurrency might jump back. Since mid-February, it appears like there’s controlled price action in a corresponding decreasing channel. These outlines comprise the price action of a token, which is inside the lower and upper channel limits.
More increase in purchasing pressure might drive Ripple’s XRP to the upper or middle channel boundary. Furthermore, these support barricades are at $0.17 and $0.2, correspondingly.
It’s nothing when a point in volume might ignite another sell-off, wherein it’s tallying credence to the bearish spot of Brandt. In case it occurs, Ripple’s XRP must formulate a new low. The subsequent support levels for spectators to monitor is at $0.03 and $0.01, which signifies a 70% to 90% price decrease.
The probability of a considerable drop concerns even the infamously depositor-base of Ripple. One of this cryptocurrency’s passionate supporters, Tiffany Hayden, withdrew from the communal. She also traded her assets.
XRP requires momentum, and for bag owners, it might finish in tragedy.
XRP/USD Settles for Merging Beyond $0.15 After the Price Drop
The price of Ripple decreased 37.10% in the previous week, leading this digital asset in an awful state in the market. Losses throughout the board devastated effects, especially for the most famous cryptocurrencies, which includes Ethereum and Bitcoin.
During the weekend conference, XRP is still facing with added losses. XRP/USD decreased 5% and counting, wherein the price is precisely swaying at $0.5114. Furthermore, in an intraday low, the exchange is at $0.1501. Hence, $0.1500 is an instant support sector.
The losses of Ripple are in a decreasing channel, yet, gains on the way to the network resistance were not approaching in the previous days. XRP/USD stays susceptible to failures as long as it’s below the $0.20-resistance. In the meantime, the Relative Strength Index or RSI is within the overvalued proposing that trading undertakings are high.
A new curved of losses to $1.00 in the Friday support might paralyze the purchasers in the approaching sessions. Hence, it must defend the sustenance at $0.15. Continual merging over $0.15 is probable to upsurge depositor interest in XRP, which pulls the price over $0.20.
Liquidity Index of XRP Brawls to Hit New High From the Price Crash
Bitcoin’s price failed from $7,400 to a low price worth $3,900. However, it jumped back to $5,200, which pulled down other top altcoins in the cryptocurrency market. As for Ripple’s XRP, the third biggest digital asset was more profound than the typical. It reached the $0.15 level, according to CoinMarketCap’s data.
It appears to have an impact on the XRP exchange in corridors running on the On-Demand Liquidity platform of Ripple, which is in Australia, the Philippines, and Mexico. Furthermore, the Philippines corridor, which on Coins.ph, displayed what appears to be a quick hold-up or a bug in exchange. However, it changed afterward, returning the Liquidity Index Bot of XRP, putting it back to usual.
The XRP liquidity set new best highs various times on Coins.ph, which is before the price drop. Presently, the gap between the current index value and ATH is relatively large. On the mentioned three platforms, this cryptocurrency is striving to hit a new high, which will be the first instance after the price crash.
XRP Improves Higher Beyond $0.14 as per Price Analysis
XRP’s price decreased abruptly previously, from the resistance level of $0.20. The third biggest cryptocurrency fell over 50%, and it broke several significant supports close to $0.18 and $0.16 to go in a mid-trend downtrend.
Furthermore, during the decrease, the XRP price broke the support between $0.15 and $0.12, along with a new multi-month low that’s close to the $0.11 level. As per the price analysis of Ripple, XRP is presently altering higher. It’s also exchanging over the $0.14 level.
On the other hand, the price begins a decent retrieval over the levels of $0.18 and $0.20 if more purchasers emerge. There are possibilities of more losses if the XRP price is under $0.14 in the mid-term. Furthermore, the primary support is close to $0.12, in which the bears are possible to target a test of the support level at $0.10.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the indicator line are over the zero lines that show a purchase signal.
The price of XRP/USD is bearish on the one-hour chart. The bears earned the market’s control in the timely hours of Saturday, wherein the price decrease from $0.16 to $0.15. It succeeded a strong Friday, wherein the XRP price increased from $0.13 to $0.16.
On the downside, the initial support is close to the $0.14 level, while the primary support is close to the $0.12 level, wherein the price might consider the $0.10 level. As for the signal and MACD line, these are beyond the zero lines. It specifies a purchase signal with resistance levels of $0.16, $0.18, and $0.20. Furthermore, the support levels are at $0.14, $0.12, and $0.10.