Ripple & PayPal: Why PayPal Is Not Supporting Ripple’s XRP

United States – As the famous US global payment service PayPal has entered the world of cryptocurrency, many customers are asking why it does not accept Ripple’s XRP. Currently, PayPal accepts over 26 million merchants and the leading digital asset with the best mainstream exposure is Bitcoin.

Over 346 million PayPal users now have the option to use Bitcoin in trading. Despite Ripple’s recent growth, the company needs to catch up to receive recognition from PayPal.

Currently, PayPal users can only hold Bitcoin and Litecoin cryptocurrencies. However, they cannot transfer it to other accounts on and off PayPal. Many critics claim that the company will remain tight-lipped on the matter.

Crypto enthusiasts wonder why PayPal has skipped the fourth largest cryptocurrency now that it accepts other virtual currencies, such as Ethereum, Bitcoin Cash, Litecoin, and Bitcoin.

According to the latest interview, PayPal relies on the Securities and Exchange Commission (SEC) to determine which virtual assets to support. PayPal is looking for custody and trade additional tokens. Since the global payment service provider needs to expand more products to customers, they need to stay customer-driven, especially when it comes to security.

For instance, controversy circles around Ripple’s XRP after the US regulatory system consider the digital asset a threat to security. Unlike XRP, Bitcoin, Bitcoin Cash, Litecoi, and Ethereum have essential differences from XRP.

Will this restriction be relaxed in the future? According to some crypto critics, there’s a huge possibility that PayPal will support XRP in transactions and withdrawals anytime soon. The reaction of crypto enthusiasts has been mixed since some have publicly bashed PayPal for not giving users access to XRP.

In terms of services, PayPal and cryptocurrencies mirror features available on the rival platforms RobihHood and Square. These two companies are one of the most prominent advocates of cryptocurrencies.

In 2019, Square already supported cryptocurrency and allowed users to withdraw Bitcoins. Regarding RobinHood, its headquarters confirmed that they would soon send a green signal for Bitcoin withdrawals.

Fundamentally, Ripple’s XRP and PayPal sound more conflicting than its partnership with Bitcoin. Once Ripple gained recognition from PayPal, it can be a giant leap in Ripple breaking out of its niche. Despite many concerns, it appears that PayPal will only support XRP if it is considered a currency, not security, in the United States.

Many businesses have been somewhat anticipating PayPal’s approval of Ripple since many global banks are now using XRP for cross-border money transfers.

Ripple Builds New Product With PayString Trademark

United States – Ripple Labs Inc. has confirmed its new trademark with PayString. PayString trademark registration is essential for electronic financial services, such as disbursing and receiving monetary gifts and remittances. Ripple uses PayString for transferring fiat and virtual currencies over a computer network.

Since the launch of XRP Ledger in 2020, the San Francisco-based firm has already established dozens of partnerships with prominent banks worldwide. Following the recent launch of Line of Credit, Ripple has announced its new PayString trademark that was submitted last November 6, 2020.

Many XRP enthusiasts believe that Ripple is currently developing new technology or product that might be suitable for e-commerce. Currently, Ripple’s XRP has overcome many obstacles and enables the company to raise new capital quickly through the XRP Ledger.

In the past weeks, Ripple released several headlines, including the massive increase of the average daily XRP volume. The headlines show a significant boost in Ripple’s sales, especially in adopting the On-Demand Liquidity.

Many critics speculate that Ripple is again working on a new interesting product. Since “PayString” has similarities to “PayID,” the trademark might also act as a universal payment identifier with a free standard. PayString’s goal might focus on increasing interoperability between different networks. Some claim that PayString can function like PayID, a standardized format that supports over 40 globally active companies, especially in e-commerce.

Currently, Ripple is the fourth most valuable Fintech company worldwide. The firm recently launched a new product called “Line of Credit,” which allows ODL customers to take out credits using XRP. This new product can help hundreds of companies overcome financial obstacles and raise better capital more conveniently using the XRP Ledger.

News reports yesterday confirmed that Ripple would continue to rise in the next months. The company is currently worth $10 billion, which is $2 billion ahead of Coinbase and $2.4 billion ahead of Robinhood. The latest release of several Ripple products enables RippleNet customers to raise capital on demand. Many critics claim that the community has a huge impact on XRP’s excellent performance.

Ripple assures the public that they will soon expand more services to more markets and customers worldwide. Through the latest Line of Credit, more people can manage their day-to-day businesses and reach more customers quickly.

With PayString, Ripple can release a reliable payment service that is essential for receiving and transferring remittances and exchanging fiat currencies and virtual currencies in real-time.

Ripple Starts Dubai Headquarters Amid Rumors of Relocation

Dubai, UAE – Blockchain company Ripple has revealed that it will open its new regional headquarters in the Dubai International Financial Centre (DFIC). The DIFC is a well-known and reputable financial hub in the MENA region that promotes a tax-free economic one with an English-language law system. It also does not impose any restrictions on cryptocurrency and foreign ownership.

Ripple CEO, Brad Garlinghouse, announced that the San Francisco-based firm would relocate its headquarters overseas due to the United States’ new regulatory regarding XRP. Fortunately, Dubai is a clear taxonomy, and the country does not consider XRP as a threat to security. With this clarity, it would be advantageous for the company to operate in the United Arab Emirates.

Since October, Ripple has been busy with its legal battle with many cryptocurrency investors that accuse XRP as an unregistered security. The company disputed all allegations and proved that all misleading statements about XRP are wrong.

Meanwhile, the US Securities and Exchange Commission claimed that XRP comes with many uncertainties than Bitcoin and Ethereum. The “security” label matters to XRP since it does not operate the same way as other altcoins. If Ripple does not do something about this issue, it could heavily impact the digital asset. Although Ripple claims to be independent, it owns 55 billion of the total 100 billion XRP worldwide.

Because of Dubai’s unique regulatory environment, Ripple decided to build its regional headquarters in DIFC. Currently, this area already registered over 100 fintech firms and more than 400 startups. Fortunately, the DIFC Authority, Arif Amiri, considers Ripple an exciting and reliable addition in Dubai this 2020. The CEO also claimed that Ripple would surely enhance its development in Dubai.

Since Ripple is well-regarded globally for innovation, it can be a perfect partner and client for DIFC, given its vision to drive the future of finance. Together, Ripple and DIFC can expand blockchain finance in Dubai, UAE, and other regions.

Currently, the San Francisco-based firm already built strong connections with oil-rich Middle Eastern countries. The executives also have a significant client based in the MENA region, and the opportunity to expand its business made DIFC an excellent choice. As reported today, the UAE is one of the options for relocating Ripple’s main headquarters.

Aside from UAE, Ripple also considers Japan, the United Kingdom, Switzerland, and Singapore as possible destinations for Ripple’s main headquarters. These countries have been showing support to the company since 2019.

Ripple XRP Volume Increased by Over 10% This 2020

United States – Sine the world is walking closer at the end of 2020, cryptocurrencies worldwide are striving to hit their highest points. One of the most successful digital assets that hit the highest is Ripple, which reached its all-time high of $3.65. With the year drawing to an end, many critics predicted that XRP’s price would go even higher by December 2020. This prediction caused many investors to buy more tokens and trust Ripple.

According to the recent report, the average daily XRP volume has increased by more than 107% in the third quarter. The total XRP revenue for the second quarter is $35.85 million, and it increased by more than 10% this month.

Currently, the average daily XRP volume increased to $403.58 million in Q3 from $196.28 million in Q2, which is great news for the XRP holders and investors. Thanks to Ripple’s new payment solution called the On-Demand Liquidity (ODL), the San Francisco-based firm earned a significant increase in network usage.

Furthermore, Ripple also revealed that the total XRP sales net is now at $35.84 million, which is way higher than last year’s $32.55 million. The company stated that they remain focused on over-the-counter leases and sales to provide sufficient liquidity to certain ODL customers. Since Ripple has now earned 3 billion XRP, they returned the 2.4 billion to the escrow account.

According to Ripple’s executives, they will freeze 55 billion XRP in escrow and release one billion XRP every month. Although this measure received some backlashes, it still resulted in XRP’s excellent performance this 2020.

A report states that Ripple is one of the most productive digital assets that made gains between 5% and 14%. Therefore, some critics are warning Bitcoin to overcome its resistance area near $12,000. Although Bitcoin has doubled its price this year, finding support from the investors is still difficult.

Unlike Bitcoin, XRP has proven its extreme resilience and come to the fore during the pandemic. Ripple’s representatives stated that they would continue to help customers raise capital on demand and soon expand the company’s services to other markets and customers in different countries.

For healthy market growth, Ripple has been repurchasing large quantities of XRP. According to the executives, this strategy helps the company promote adaptation and growth and continuously stimulate the market.

More investors are getting interested in Ripple’s XRP due to its lower fees and faster transaction times for arbitrage trading. According to experts, this digital asset will soon become the fastest and more efficient cryptocurrency than Bitcoin and Ethereum.

Ripple’s Latest XRP Ledger Upgrade Is a Gamechanger

United States – Ripple’s XRP remains the next reliable cryptocurrency to Bitcoin and Ethereum. The digital asset continues to climb higher and build stronger momentum. According to Ripple’s CEO, David Schwartz, the network strives to build new partnerships with global banks and other payment providers to enable more people worldwide to transfer money instantly.

Currently, over 300 financial institutions from different countries use Ripple’s XRP in facilitating international money transfers. Although the digital asset’s value is not an all-time high, Ripple continuously performs very well this 2020.

A recent report revealed that David Schwartz confirmed the latest game-changing XRP Ledger feature that expands the network’s decentralization. However, the upgrade is still limited to Rippled 1.6.0, so it can still conveniently check bugs.

According to Ripple’s CTO, this latest XRPL update is an absolute gamechanger. The system now uses the so-called “Unique Node List” or UNL containing all participating validators. The update primarily targets malfunctioning and offline validators due to external circumstances, such as internet problems, hardware maintenance, or attacks.

According to Schwartz, the developers are still checking the latest update for further possible errors; that is why it is not yet available live. With the recent XRP Ledger upgrade, it will be easier to find validators based on various criteria and connect them to the network. When choosing a validator in XRPL, performance isn’t the only criterion. Some of the factors that Ripple consider are network redundancy, institutional commitment, jurisdiction, and commitment to the network.

The biggest advantage of this game-changing update is it will be more accessible to say ‘yes’ to a wide variety and diverse validators, even when they are only running a tiny machine on a single residential connection.

Furthermore, David Schwartz also confirmed that the latest XRP Ledger upgrade could minimize the risk of integrating new validators with the network.

At the time of writing, Ripple has gone up more than 20% in 2020. Earlier this year, the digital asset has hit an all-time high of $3.84, attracting more investors to share some money to Ripple. The Ripple community is also talking about the long-anticipated Ripple-Apple partnership.

Many people think integrating Ripple’s technology to Apple Pay can make fund transfer faster and more convenient. Some critics claimed that there is no doubt that Ripple can be very beneficial to Apple. However, the San Francisco-based firm has not confirmed anything yet.

XRP Accumulation Builds Enormous Breakout Against Bitcoin

United States – Ripple’s XRP and Bitcoin are two of the most trusted cryptocurrencies in the United States. Although XRP has barely increased in the few months, this digital asset has received more hype than Bitcoin.

While Bitcoin remains a digital currency for purchasing goods and services, Ripple improves its service as currency exchange, remittance system, and payment settling. Ripple’s mission is to provide a better and more convenient system for direct transfer of assets, such as money and gold, almost real-time.

According to the recent report, Ripple whale continues to accumulate large XRP supplies while XRP is bleeding out against BTC. It is hard to imagine Bitcoin when it is currently falling, but sometimes, there’s something more behind the scenes that the company plans for a massive move and change.

At the time of writing, Ripple has spent almost three years staying behind Bitcoin. Since mid-2019, XRP has done a lower trade while grinding lower. The silent XRP accumulation of whales matches the same scenario as Bitcoin did before its most recent breakout. Tons of whale-sized BTC wallets continuously increased until the supply was not enough to go around. Now, it could be Ripple’s turn.

According to some reports, one million or more Ripple XRP wallets have increased by at least 20%, while wallets with over ten million grew by 10%. With these percentages, prices rapidly increased, and thousands of investors worldwide tried to catch the breakout. When Ripple’s XRP broke out, the moves became very substantial, and the digital asset outperformed Bitcoin.

In the past few weeks, the public saw a sharp increase in Ripple’s resistance area. XRP price surged above the $0.25 level and settled very well. Indeed, Ripple has carved out a reliable niche in hosting cross-border payment than Bitcoin.

One of the prominent companies that partnered with Ripple is American Express, which moves corporate funds between the United Kingdom and the United States through Ripple’s remittance system. Millions of people will continue to consider XRP since it erases the inconvenience of transferring money across borders.

Currently, Ripple is the most highly adopted cross-border transfer payments. It enables customers to settle, clear, and message fund transactions quickly, unlike PayPal and Swift.

Undoubtedly, Ripple has plenty of potential in expanding easier banking access through efficient cross-border transfers. Since millions of people are still relying on cash to purchase and sell goods and services, Ripple strives to give more banking access to the unbanked population. Since Ripple offers a more accessible platform, it continues to attract more investors and smart investment decisions.

Most Successful Bank in Singapore Starts Using Ripple (XRP)

United States – One of the largest banks in Singapore, the DBS Digital Exchange, will launch a crypto exchange platform that will accept different digital assets, including Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH), and Bitcoin (BTC).

According to the report, the news spread out after the publication of the exchange’s website that is immediately deleted. However, evidence has verified that the Monetary Authority of Singapore has allowed and will support the platform.

DBS is one of the most successful banks in Southeast Asia. Fortunately, its executives decided to launch a first-to-cryptocurrency exchange called DBS Digital Exchange that will allow users to trade Singaporean dollars, Japanese yen, US dollars, and Hong Kong dollars to BTC, BCH, XRP, and ETH. The company also claimed that this exchange would conduct security token offerings to help small and medium-sized firms raise funds.

DBS Digital Exchange will use its parent DBS Bank for the services for the customers’ funds. The company has deployed a DBS Digital Custody, an institutional-grade custody solution that can keep digital assets hidden and safe.

After this announcement, DBS’ spokesperson told the media that its digital exchange plans are still a work-in-progress. They are still doing plenty of research and have not received the required regulatory approvals. Until such time once the approvals are in place, DBS will keep the public updated.

Some critics revealed that the DBS Digital Exchange would be available to institutional investors directly, including the professional market makers and financial institutions. On the other hand, the retail investors can access the platform after registering as a DBS member in DBS Vickers Securities and DBS Private Bank.

The published DBS website claims that many banks, businesses, and businesses will back this digital exchange since it allows people to take advantage of an integrated ecosystem of solutions through faster and cheaper cryptocurrency transactions.

Since DBS is the most prominent commercial and retail bank in Singapore, its soft crypto/fiat trading exchange will surely attract more customers. With the DBS Digital Exchange, more people can process cross-border trading or payment quickly and cost-effectively.

By using the DBS Digital Exchange, investors can execute and confirm trades almost in real-time. This project’s main long-term goal is to convince other banks that cryptocurrencies are some of the new financial resources people need to take advantage of every day. Through this latest DBS investment, the banking system will experience further strength, especially in partnership with tech companies, and accelerate their development of new functions and services.

Ripple Partners With Flare Finance For DeFi Market

The United States – During the first week of October, Flare Finance revealed that the company would launch the test phase for the first DeFi protocol, in partnership with Ripple’s XRP, based on Flare Networks. When they announced this project, the company launched a test on the Costco network.

Flare Finance is a DeFi protocol that the Flare network will deploy. According to the executives, this project will launch “six products in one” to benefit its customers. The first platform is the “FlareX,” which will operate and serve as a decentralized exchange in a multi-token ecosystem. According to Flare, this system will integrate swaps.

Furthermore, FlareFinance announced the FlareFarm Governance platform that allows yield farming. This project focuses on a stablecoin distribution platform called FlareUSD. The other three systems announced will offer risk-based mutual funds, loans, and a pool to provide liquidity called FlareMine.

Flare Finance claims that this project will give XRP holders and users of the network’s low cost “DeFi experience.” Even customers without technical or advanced knowledge can use this platform. Flare Finance developed this project intending to remove traditional intermediaries, such as banks and financial advisors.

This past week, the public saw a sharp increase in Ripple’s XRP price, and it even surged above the $0.2600 resistance. It means that Ripple is now starting to become better than most banks in the United States. According to critics, Ripple delivers a much better experience than old bank technologies. In terms of speed, pricing, and overall customer experience, Ripple is way more appealing.

Since cryptocurrencies have become an integral part of today’s financial market, Flare Finance’s decision to work with Ripple is a smart move. Ripple has long been in direct competition with MasterCard, SWIFT, and banks, but the company continues to outpace them.

Companies like Ripple make cross-border payments more accessible and hassle-free. The digitalization of all processes from transferring transactions to receiving has fundamentally improved to offer the best possible experience.

According to the executives, Flare Finance provides XRP and Spark uses the cheapest and faster experience thanks to Flare Network and XRP Ledger’s superior architecture. The company’s goal is to expand XRP uses cases by integrating new virtual machines to execute smart contracts. Flare Networks will do this through Xpring, Ripple’s investment arm. Since the first week of October, Flare has caused great hype in the crypto and XRP community for the launch of this project.

Kraken and Binance Might Collaborate With Spark Airdrop

United States – Ripple XRP with Kraken and Binance kicked off October 2020 with a bang. Since the first day of the month, the prices continuously rise, and the cross-border remittances saw it skyrocket by more than 30% since August. Now, XRP holders will have two new exchanges to receive Spark tokens from Flare networks.

According to Flare’s official Twitter account, they work closely with Kraken, Binance, and Binance US. However, the company did not confirm anything. If so, Flare will be the most prominent platform that supports the Spark token airdrop. Since Flare is the first XRP fork, the public expects that the company is distributing Spark.

According to a report, Ripple’s partner, eToro, Nexo, Citibank, and SBI, confirmed that Ripple is thinking about supporting the airdrop. Nexo stated that they are currently inactive in communication with Flare Network’s CEO. They also posted the XRP ledger’s snapshot for the Spark distribution that will occur on December 12, 2020. Therefore, both companies still have plenty of time to prepare for the official announcement. Regarding the exchange, the platform will distribute the token in a 1:1 ration using the digital asset XRP.

At the time of publication, 18 institutions and wallets support Spark’s airdrop, and the most dominant are Poloniex, Uphold, GateHub, and CoinSpot. Among the wallets are Exodus, Ledger, and Xumm.

If XRP demand continues to rise, Flare will have more strength in breaking through barriers and fastening both parties’ decisions. Under such circumstances, prices might shoot up higher, and the company can turn many resistance hurdles into support.

Kraken and Binance’s possible collaboration was met with excitement within the XRP community. Investors became more interested in buying more tokens.

Even though some days seem to display XRP’s downtrend, many investors still pay close attention to its 50 and 100-day moving average. Since this digital asset is one of the major cryptocurrencies in today’s market, it is clear that the company will build stronger partnerships and collaborations with giant corporations like Spark Airdrop.

The XRP Ledger Foundation continuously improves blockchain technology areas, and they can support and provide resources better than the past years. Both Kraken and Binance have worked very hard over the past years to increase decentralization and performance dramatically. These two companies also remain committed to their future innovation to give faster and safer cross-border transactions in different parts of the world.

Why the Blockchain Industry Will Explode in the Next Months

United States – Ripple’s XRP has received tons of positive results in the blockchain industry. This digital asset has earned from $500,000 to more than $10 billion, pushing Ripple to its final adoption phase. Since the global economy has been affected by the COVID-10 pandemic, more people relied on digital assets, and the company earned more business interests.

XRP’s connection with the blockchain technology allowed many people from different parts of the world experienced an increased speed in payment settlements. Its popularity has grown sharply since almost everything has to be done online. Also, Ripple revealed that its payment services had been spread to over 22 countries.

A report claimed that 79% of participants had shown increased growth after using Ripple’s XRP to improve their services and products and enter an unexplored market. However, many customers still expect Ripple to create more innovations in payment technologies.

Another factor that Ripple revealed is XRP’s diversification in most companies’ user cases through the blockchain technology. According to Ripple, almost 98% of participants that use XRP and blockchain have deployed technology for commerce, supply chain management, and finance. Therefore, it is not surprising to know that 99% of participants use XRP digital assets as a medium of exchange or process payments.

The XRP and blockchain industry will surely explode in the next months since it is way faster than other cross-border transaction providers. According to critics, many participants prefer using blockchain technology, specifically Ripple’s XRP, for its instantaneous transfers using the On-Demand Liquidity. This advantage provides the most crucial benefit for respondent companies, along with the reliability and cost.

Across the five global regions, especially Europe, North America, Latin America, and the Asia Pacific, the familiarity with the blockchain industry ranges from a whopping 82% up to 94%. These positive numbers continue to grow since more companies get interested in cryptocurrencies. Nowadays, many business people and institutions adopted blockchain technology to achieve higher reliability levels, improved data transparency, increased payment speed, and long-term operational costs.

Many participants discussed the lack of regulatory clarity and the required investment to improve technology regarding blockchain adoption’s obstacles. However, since more markets recognize the responsible usage of digital assets and blockchain technologies, the industry can still unleash the global economy’s tremendous potential. Without a doubt, Ripple’s XRP can indeed drive greater economic growth and financial inclusion for the next years.