SAN FRANCISCO, California – Ripple faces a breakthrough for its blockchain technology. Now, it’s facilitating PayID transactions, and the announcement came from Craig DeWitt, the product director of Ripple. However, the XRP price encounters a 2.18%-drop after earning $0.0012 in the previous hours.
Ripple will enable PayID transactions through Twitter, and the declaration came from the company’s product director, Craig DeWitt. He stated that PayID became the most commonly utilized means of making settlements. The digital wallet it’s using is Payburner.
As per DeWitt, there are more than 1,000 PayIDs provided to users since Payburner started in the industry. He also stated that the addition of e-commerce would happen shortly.
The technology of PayID is created to be a worldwide settlement identifier, and it comes with a permitted standard. PayID lets interoperability from various payment systems, and it’s considered as an open procedure. In this way, users of the PayID monitor their transactions without any hassle. It’s by utilizing a consistent address with a precise format when it comes to settling the payment.
Furthermore, PayID substitutes the steering numbers, account numbers, and numerous platform necessities to settle with the funding scheme today. PayID will establish sending settlements as hassle-free as per the CTO of Ripple as “sending an e-mail.”
PayID collected 40 partners during the launch, and it’s ranging from international companies to non-profit organizations. E-commerce addition will be a crucial milestone for the partners of this technology.
DeWitt also gave PayID users invitation encryption to visit the platform, payburner.com, and a plug-in. With the code xoVFjQB2YW, users can sign-up for an account. Also, he added that the scheme doesn’t need KYC (KYC), and the technology utilizes the same substructure as XRPL.
As for the XRP price, the four-hour candle of Ripple had an adverse line, yet it already settled when the closing hits up to $0.0012 or 0.5%. Ripple outdo all five digital assets for the past four hours.
On another note, the previous co-founder of the company, Jed McCaleb, transferred more than 11 million XRP, and the movement was as per XRPL Monitor. He did two transactions on September 13 and 14, and the transfer amounted to 5,709,780 XRP per transaction.
As per Bithomp, an XRP explorer, McCaleb’s taco stand wallet has 95.664 million XRP, which is $23.443 million. On the other hand, it’s distinguished that he’s been exceeding three million since the month’s start.
On the other hand, the XRP price moves back and forth. It began at 0.2422 USD or the United States Dollars, which dropped 2.18% or $0.0054. The alteration was along with the change in the price’s volume, and it was up by 42.59%. However, 32.92%, it experienced a downward movement.
Ripple ranked as the second placer in the top digital asset class when it comes to the price change. The price is near the 100-day average, where the price sits at 0.23, respectively. However, it might be at a significant stage, along with the timeframes. Traders desire to detect that the bullish line seems to be on the 30-day horizon. The price moved since then, and it went up to 15 in the previous 30 days.
Ripple unveiled the total volume using the remittance scheme of XRP to show how much it transferred since it began as crypto in October 2018.
Brad Garlinghouse, the CEO of Ripple, stated that the cross-border settlement scheme of this company is crypto-based. In his tweets, it uses XRP to transfer money across the globe. The total amount of transfer is $2 billion by volume.
The CEO of Ripple noted that the entire volume of the company’s platform increased by 11 times, and the range is from July 2091 to July 2020. The partner of Ripple, MoneyGram, stayed as the top-user of the transferring network. Plus, it also utilizes the platform to process around 10% of its transactions. These are in the United States or the US to Mexico.
Garlinghouse states that Ripple will endure its tactic to increase the adoption of the company as its future usage for XRP.
Ripple is the third-biggest digital asset, which is by market capitalization.
As per the CEO, the company is utilizing XRP to explain a $10-trillion worth of problem, and cross-border settlements are functioning. Some of the customers with On-Demand Liquidity or ODL includes goLance, FlashFX, MoneyGram, Viamericas, and Azimo.
Ripple responds on digital asset trades to receive fiat currencies from funding institutions, and transfer the equivalent worth in XRP to a consistent business in another country. From there, the digital asset becomes a fiat exchange.
The company has over half of the entire XRP-supply. In the recent report, which is the status of its properties, Ripple stated that it traded $32.55 million in XRP. It’s by quarter-two of the year, with the effort to increase the transfer liquidity of this cryptocurrency.
Also, as per a report, Ripple purchased XRP via XRP II on the secondary crypto market.
The price of XRP experienced a mixed price action in the previous weeks. This digital asset is unable to share some immense increases after a few weeks. However, the impetus delayed after it confronted a strong rejection at a price of #0.33.
This digital asset drifted lower, and it tapped lows for $0.27 before it found support. It’s now exchanging is beginning to display some indicators of life while its purchasers try to push it further the resistance level of $0.30.
The price level had several rejections, yet it’s commanding that bulls overcome it in the close-term if they desire to spark more.
Experts note that the previous drop of this cryptocurrency led it to try a significant support level, having the climb of today as a leap at this price level. The bullish indicator indicates an upward movement, and it’s looming for XRP.
Analysts expect the upside of XRP after a trader stated that he searches for a move upwards, which is up to the 3.3k sats area. It’s after this digital asset back-tested its significant support, which is 2.4k sats.
company against plaintiffs, stating that they can’t prove Ripple lied. Also, the company beats the XRP sales crash in quarter-two, earning $33 million.
Brad Garlinghouse, Ripple’s CEO, responded at accusers in current litigation against the company. He stated that depositors couldn’t show that Ripple lied regarding the utility of XRP. The offenders accuse Ripple, saying how the company didn’t utilize XRP altcoins in 2017 when it comes to settling funding transactions. However, Ripple and Garlinghouse didn’t say otherwise.
In May 2018, Bradley Sostack, the plaintiff, filed a case against Ripple. His allegations were about how Ripple didn’t succeed in registering XRP with the United States or the US SEC, Securities and Exchange Commission, despite qualifying as security.
Garlinghouse fought with Ripple as per Law360’s report. It unveiled that their filing with the federal court in California stated that the accuser didn’t succeed in offering necessary accurate claims to show that the company and the statements of the CEO are untrue.
Garlinghouse also said that Sostack is advising the court to establish unverified leaps of logic.
In the revised lawsuit, Sostack claimed that XRP doesn’t have utility because Ripple and the CEO didn’t succeed in disclosing it to their depositors. On the other hand, the defendants’ legal team advised the court to discharge it to their depositors.
The Sostack case is one of the several lawsuits against the company. On the other hand, things didn’t pan out as per the plan with the co-founder, displaying faith in the project.
The number of cases against Ripple boosted in the previous two years, and the accusations are about trading unregistered securities. As for the company’s side, it claimed that it established XRP to inspire people.
Despite the on-going case of Ripple from Sostack, the company recovered sales slump of XRP, selling $33 million in quarter-two of 2020.
According to Ripple, the company traded $32.55 million XRP during the second quarter of the year. There’s an increase over the awful sales of quarter-one, and the boost is by 1,760%. In about a year, this sign is the primary one of the sales growth of XRP.
As per the Markets Report for the second quarter, Ripple reported an increase in OTC or over-the-counter sales as it gained the advantages of new liquidity. It provided additions with Swisscom Blockchain, a telco, Sygnum, a digital asset bank, and Zero Hash, a switch execution facility.
Programmatic sates, a third party exchanging practice with a mid-quarter-three 2019-stop, contributed to three successive quarters of dropping XRP sales. It will stay on pause as the company, Ripple, concentrates on OTC markets, as per the practice issuer.
The volume of XRP didn’t fare as sales figures in quarter two. The average everyday-volume dropped to 196 million, which is from quarter one’s 322 million. The entire volume, which is by dollar value, almost halved to $17.86 billion, and it came from the quarter one’s $29.68 billion.
SAN FRANCISCO, California – As per XRPL Monitor, Ripple transferred more than 83 million XRP, amounting to $19.8 million, in the past 24 hours. Ripple also moved 33 million XRP at first, and the 50 million XRP followed. Moreover, XRP witnessed a bullish price increase of 9.5%, reaching $0.24.
Crypto insiders track the rise in the activities of Ethereum, Bitcoin, and XRP whales because the momentum of the market changes to big-cap digital assets.
The San Francisco-based startup, Ripple, transferred more than 83 million XRP in the previous 24 hours, and it amounts to $19.8 million in total. XRPL Monitor, an XRP-watching bot, reported this transaction, stating that there were two separate transactions from this digital asset.
Ripple transferred 33 million XRP to its digital wallet, amounting to $7.45 million, and the company sold these to third parties. Another transaction was the 50 million XRP or $11.5 million, and the company moved it to an unknown wallet.
Despite the transfer, XRP records a three-month high price. XRP witnessed a bullish 9.5% price increase today, reaching $0.24.
The XRP/USD pair attempts to hit over April highs. XRP endures increasing after hitting $0.241 from its 200-days EMA, which is at the price of $0.21. This digital asset was able to drive over the resistance level of $0.225 and $0.23 until it reaches the price level of $0.24.
If XRP bulls can endure closing over the price level of $0.25, it will create a new five-month high. With this movement, it will start an original run moving back to the 2020 highs of $0.34, which is the XRP price prediction.
The XRP and USD pair has a resistance level of $0.245 if buyers endure pushing. The resistance follows the $0.25 and $0.255 price levels, which is the 0.618 Fib retracement level.
The support’s first level for pricing is at $0.234. After that price, the support is at $0.225, $0.22, and $0.21 or 200-days EMA.
The Stochastic RSI and RSI hit overbought conditions, and it might propose that the market might be a bit overextended.
As for the XRP/BTC pair, the bulls brawl to get over the 100-days EMA. Despite the position of XRP over USD, the situation endures being dire for XRP over Bitcoin. The price was exchanging within a small triangle back in July, and earlier, the price broke it.
XRP is unable to get over the resistance SAT at 2200 or 100-days EMA. The price plunged slowly down to the 2022 SAT level. After rebounding, it tries to break the SAT resistance of 200.
The short term XRP price prediction for XRP and BTC pair has a resistance level at 2200 SAT. After this level, the next lie in 2251. SAT.
Today, the RSI was able to break over the 50 lines, and it comes with a sign, showing that the impetus is beginning to move to the bull’s favour. Also, the Stochastic RSI is aware of a strong crossover signal, which might make the market higher.
Bangkok, Thailand – The XRP/USD pair dropped to $0.1985, from the price level of $0.2022. It decreased under the $0.2020-level along the process. Moreover, the Elliott Oscillator experienced 25 consecutive green sessions, ranging from -0.087 to 0.027.
The XRP price struggles to win its momentum over the resistance level of $0.2000 over the USD. It might have a significant drop if it stops at the support level of $0.1900.
Azimo partners with Siam Commercial Bank from Thailand to introduce another payment corridor between Europe and Thailand.
Azimo will utilize RippleNet’s system, a payment network by Ripple, in making the payment corridor possible.
The On-Demand Liquidity ODL of three countries is doing well after the Coronavirus pandemic peaked in the previous month. XRP/PHP, XRP/AUD, and XRP/MXN hit all-time high prices.
XRP/USD Receives Support While Bears Take Charge
The XRP/USD bears stayed in control while the XRP price drops to $0.1983 from $0.1985. The XRP price consolidates in a triangle pattern, wherein it received a 50 simple moving average or SMA-support. The price increased over the Bollinger of 20-day, yet it faced resistance at a downward line. The bulls should lead the price to $0.2010 to converse the negative impetus and stop beyond the triangle pattern. Moreover, the Elliott Oscillator had 25 green sessions, leading -0.087 to 0.027.
The XRP price lands at $0.1982, with a daily open price of $0.1985. The SMA 20 is $0.1755, the SMA 50 is $0.1984, the SMA 100 is $0.2218, and the SMA 200 is $0.2355.
The past daily high level was $0.2024 while the daily low was $0.194. As for the weekly high level, it sat at $0.1871, and the low level was at $0.162. Furthermore, the recent monthly high was $0.2468, while the past monthly low-level is $0.1129.
The Fibonacci level by 38.2% is $0.1972, while the level by 61.8% is $0.1992.
XRP Signals Bearish Collapse at $0.1980-Resistance Level
Ripple started exchanging in a constricting range after establishing a position close to the level of $0.2050. The XRP price traded under some significant support levels that are close to $0.2000 for a brief-term bearish area.
There was a transparent halt under the price level of $0.1980 in the previous session, with a significant 100 hourly SMA. The bears cleared a vital diminishing triangle. Hence, it has a support level that’s close to $0.1980, which was from XRP/USD’s hourly chart.
The XRP/USD pair increased under the price level of $0.1950. The price exchanged at a low level, which was at $0.1921. Ripple is presently altering losses, wherein it’s trading over the price level of $0.1940.
The XRP price tested the Fib retracement level of 23.6%, basing it from the last drop. The price range was from $0.2008 high to a low price of $0.1921. On the brighter side, there’s a significant resistance establishing close to the price level of $0.1965, with a 100 hourly SMA.
The Fib retracement level of 50% was from the high price of $0.2008 to $0.1921 low. It’s close as well to the price level of $0.1965 to work as significant resistance. The XRP should stay over the $0.1980 to go back to a favourable level, with the SMA of 100-hourly.
The primary block is close to the price levels of $0.200 and $0.2025, wherein the bulls are probable to target a more significant rising action in the next sessions.
The downside is the first support level, which is close to the price of $0.1920. The XRP price might go down under $0.1920 if it doesn’t succeed in regaining over the resistance levels of $0.1965 and $0.1980.
The primary support level is close to $0.1900, wherein the bears might take charge. The succeeding halt might be the levels of $0.1840 and $01800.
Azimo Utilizes RippleNet for Europe and Thailand-Payment Corridors
Ripple is expanding in Thailand after what Azimo plans to do. Azimo will let prompt cross-border settlements between Thailand and Europe, wherein it teams up with Siam Commercial Bank.
Siam Commercial Bank is one of the prominent banks in Thailand.
The new corridor initiated by Azimo will utilize RippleNet, which is Ripple’s international payment system.
As per the press release, Thailand is in the list of the top payment destinations in the world. As per the World Bank, this country obtains 6.7 billion dollars yearly from global markets. It’s a significant global remittances hub, yet it’s also pricey for cross-border settlements. Moreover, Ripple rates this country as one of the most overpriced countries when it comes to receiving and sending money.
As per Ripple, the pricey charge and sluggish payment experience these days provide remitters with some options. One, to give a chance for international funding establishments, which is to build various value proposals. Second, to provide enhanced customer service involvement.
Azimo can transfer euro or pound transactions to Thai baht in a minute or less with the help of RippleNet and Siam Commercial Bank. The process recently took at least a business day or more as per Michael Kent, the CEO and co-founder of Azimo.
As per Kent, more countries are choosing instant settlement. Thailand previously unveiled its network, which is a deal with the biggest bank. It will allow users to settle payments within 22 seconds, from the 24-hour turn-around time before. Furthermore, it’s quicker to transfer money to this country.
The news came after the previous declaration about how Azimo introduced the On-Demand Liquidity or ODL solution of RippleNet to the Philippines. Moreover, Siam Commercial Bank previously declared that it’s developing a Ripple-based application or app. This app will remove the necessity to exchange currency to Thai Baht. Moreover, the Commercial Banking’s Senior Vice President said that with RippleNet, the bank’s requests to prolong the experience to small ventures, enterprise clients, and other markers.
The current corridors are facing new listing days while Ripple was able to introduce another settlement corridor. These corridors to Mexico, Australia, and the Philippines hit an all-time high or ATH price in the past days. On April 8, it reached 25.6 million XRP. The information is as per the Liquidity Index Bot.
The settlement corridor directing to the Philippines witnessed an ATH of 10.8 million XRP. The Australian dollar corridor hit an ATH of 10.8 million as well, along with the past listing on April 5 that’s 9 million XRP.
XRP Liquidity Index Boosts as Coronavirus Contagion Continues
The XRP Liquidity Index surged to a new high record, and the XRP/MXN, XRP/PHP, and XRP/AUD are the biggest gainers. Ripple’s On-Demand Liquidity or ODL adoption gradually copes up with the pace as the volumes increased in the previous months.
The XRP/MXN Liquidity Index hit an ATH or all-time high worth 26.7 million XRP, wherein the increase was 170%. Bitso, a platform by MoneyGram and Ripple, launched the ODL to the Mexican market.
As per reports, the three liquidity indexes began listing favourable numbers of surges when the Coronavirus pandemic had its peak in March. Since billions of people are at home because of the lockdown, the demand for cross-border payments increased.
United States – XRP Ledger Labs’ XUMM will launch a beta version that’ll allow users to keep cryptocurrencies and money exchanges. Ripple’s CEO became a bait in the recent YouTube scam issue. Moreover, XRP/USD should clear $0;1730 to halt the lockdown.
XRP Archive-Based App is Finally Accessible in Beta Version
The lead developer from XRP Ledger Labs or XRPL, Wietse Wind, stated that the company-based application, which is XUMM, currently has a beta version already. Spectators expect the application or app to let users keep digital assets and fiat exchanges like the United States or the US dollars, Euros, and more. It will allow the users of the app store digital currency in their wallets.
The platform is currently in its last periods as per the report. It also stated that the beta version must be accessible on Google Play Store and iOS App Store on March 24.
Wind shared the concluding code lines, final pages, and last fixes for the Beta version. He also stated that they’re going to issue the XUMM Public Beta to the Google Play Store and iOS App Store on March 25. Furthermore, he also noted that the XUMM team would share the Beta version of the site, which is Get XUMM, sooner once the application is in the market.
XRP Labs’ developer cautioned users not to utilize the beta version of XUMM with accounts that have significant funds amount. As per Wind, he’s advising users not to transfer massive XRP/IOU amounts since they’re hurling a beta version. Furthermore, he told users to anticipate dragons due to the launch.
On the other hand, Wind lectured the probable safekeeping concern after the probe of a fictional user. As per the lead developer, users have their keys, encrypted on their devices. He said that they don’t send the these as the device cyphers transactions. Moreover, he stated that users have the authorities to sign with high-rate accounts or passphrase. They are also authorized to sign pin and face/touch ID.
Wind also stated that the utilization and accessibility of XUMM would be global, which includes the US.
Ripple’s Pullback Keeps XRP Striking to Bulls in Brief Term
Ripple earned grip over $0.1550, and the price tested the resistance level of $0.1640 over the United States or the US dollar. The cost of XRP is presently modifying under, yet the drops stay striking in the brief period.
Experts witnessed a slow and stable rise in the Ripple’s price over the pivot area of $0.1500. The price earned traction, wherein it exceeded the resistance levels of $0.1550 and $0.1580.
The bulls stayed in stroke, wherein it concluded in a chance over the level of $0.1600, with an hourly simple moving average of 100. The XRP price exchanged at a high cost of $0.1645, and it’s previously altering increases.
The primary support level is close to $0.1600. Also, it’s near to the Fib retracement level of $23.6%. It’s from the previous rising movement from the low price of $0.1445 to the high price $0.1645. Furthermore, there’s a significant linking strong trend developing with the support level that’s near $0.1580 on the XRP/USD’s hourly chart.
It appears that Ripple gets the support on the downside, which is close to the level of $0.1580. The XRP price might alter lower to the standard $0.1545 in the near term if there’s a downside change under the support zone of $0.1580.
The Fib retracement level of 50% from the low price of $0.1445 to $0.1645 high is close as well to $0.1545, which is necessary to move as bullish support. More losses might begin a bullish drop back to the support zone of $0.1445.
The price might begin a new rise if the price stays over the level of $0.1580, with the hourly simple moving average of 100. A quick resistance level is close to the standards of $0.1620 and $0.1640.
An effective chance over the resistance level of $0.1650 is probable to open the gates for a grander rally. The following resistance level is close to the $0.1700, wherein the price may surge to the standards of $0.1800 and $0.1820.
XRP Scam in YouTube Uses Ripple’s CEO as Enticement
The recent XRP scam from YouTube is utilizing Ripple’s Chief Executive Officer (CEO), Brad Garlinghouse, as a bait to work.
YouTube follows a strict guideline over the content that’s relevant to digital assets. On the other hand, the famous video-playing site had some distress in finding a bogus account
It was the digital asset community, who discovered that a false user on March 23 impersonated Garlinghouse. The user was to ratify Ripple’s XRP.
The false account in YouTube had 277,000 subscribers, and it only has one video, which was on March 19. However, the video is not fake, wherein it’s an interview of Garlinghouse back in February. On the other hand, the description is a scam. The CEO didn’t leave a comment, but the reports declared his name.
One reason why the fake account is there is that fraudster can purchase YouTube channels with a significant number of subscribers. The SPQR media’s co-founder was the first to testify the scam on March 23. Moreover, the co-founder stated that the channel received money for fraud promotions.
XRP/USD Requests to Clear the $0.1730-Price to Break the Lockdown
The price of XRP is altering at $0.1620, wherein it’s typically unmoved ever since this day started. The token experienced a range-bound previously, regardless of heroic actions in Bitcoin and other cryptocurrencies. The market value of Ripple is at $7 billion, wherein the average exchange volume daily surpassed $2 billion.
XRPL Monitor shared a sequence of large transactions despite the regaining on the crypto market. The total amounts to 174.4 million XRP. Ripple transferred 130 million coins, which is worth $20.8 million. The breakdown succeeded 100 million XRP, wherein it reached Ripple’s wallet. Furthermore, 20 million tokens reached different portfolios, and the rest of the funds was under BitGo’s custody service.
These movements produced a minor effect on the cryptocurrency market due to the Coronavirus pandemic, immense liquidity injections from big central banks, and international crisis.
On March 13, the XRP/USD pair dropped to $0.1129. The token stayed at the price of $0.1620, gaining more than 40% from the low-price. XRP/USD established two Doji candles on an everyday-chart with little shadows. These highlight the sense of hesitancy on the crypto market.
A maintainable movement over the price range of $0.1700 to $0.1730 will regain and drive the price to $0.20. Furthermore, the SMA100 for a day established the succeeding bullish barrier at $0.2230.
On the other hand, the move under $0.1600 will draw new purchasers, bringing the focus to $0.1450.