Tag: Ripple (XRP)

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Crypto

Ripple (XRP) Gone Silent, Lately – Something Big Might Be In Store For Ripple Enthusiasts

Ripple (XRP) holders and enthusiasts were fast to notice that Ripple has not appeared in the news with new partnerships in the last period. Accordingly, the last big news on Ripple was the partnership with Santander which signed up to use Ripple xCurrent. Now, many XRP holders started to question this silent period coming from Ripple. However, there might be a few good reasons why Ripple team is so quiet, lately.

What has Ripple (XRP) achieved so far, in terms of partnerships?

In fact, Ripple partnered up with about 50 central banks and approximately 100 regular banks, from every corner of the world. Additionally, Ripple (XRP) has also partnered with dozens of financial institutions and cryptocurrency exchanges.

Among the biggest deal Ripple has ever signed, noteworthy are the partnerships with MoneyGram and Western Union, both choosing to work with the xRapid platform, as well as the partnership with the Mexican payments processor, Cuallix, which brought to us another clear evidence of the Ripple (XRP) cross-border payments platform’s advantages.

Accordingly, recent real-time tests showed that xRapid reduced fees by 70% in cross-border payments between Mexico and the US, while it fulfilled the transactions in 2 minutes, on average.

Ripple (XRP) price

At this moment, XRP trades at $0.72, showing a 6.75% appreciation in the last 24 hours. Also, XRP seems solid on its third place on cryptocurrencies market, by market cap, despite the fact that Bitcoin Cash (BCH) is coming from behind fast and now approached at only about $3 billion behind Ripple crypto coin.

Despite the momentum BCH is experiencing now, it will have to struggle more to surpass XRP, in terms of market cap. But it wouldn’t be a surprise, whatsoever.

Why is Ripple team so quiet lately?

Well, Ripple devs are working on many projects as we speak, therefore, it could be possible that Ripple stores something stunning in its bag.

Many Ripple enthusiasts talked lately about new announcements on the upcoming Rippled 1.0.0 RC1 release which has been announced recently. Other think it could be something about a new huge partnership involving one of the Ripple’s renowned platforms.

What is clear is that Ripple (XRP) and its team have something major in store for us. What it is, however, we’ll definitely find out in the next couple of days or so.

Categories
Crypto

Ripple (XRP): xRapid Reduced Fees By 70% In Cross-Border Payments Between The US And Mexico

This May 10th, Ripple (XRP) team issued an official statement showing the results of its pilot program for international transfers and payments, called xRapid. According to Ripple, payments between financial institutions that were made between the United States and Mexico and that used xRapid reduced fees by 40% to 70%.

They also explain that the payments that used xRapid took on average about 2 minutes to materialize, which is a huge reduction considering that cross-border payments today take about 3 days, on average.

They also explain that the portion of the time it takes for Ripple blockchain transfers is only 2 to 3 seconds and that the rest of the time it takes to complete the transfer is attributed to transactions involving cryptocurrency exchange houses and local payment methods involved in this process.

Ripple (XRP) xRapid cross-border payments platform shows a great reliability

In summary, xRapid works as follows. The financial institutions involved in the transaction are connected to cryptocurrency exchange houses, the currency in which the cross-border payments are made is initially converted into XRP, and in seconds it is received and converted into the local currency of the country of the financial institution which receives the payment.

In this way, Ripple explains that cross-border payments are made more efficient, faster, and at lower fees.

Creating more efficient solutions for payments and money transfers in today’s financial system is one of the goals that the Ripple team has focused on and hopes that Ripple (XRP) will be more and more accepted.

A few days ago, also, it was reported that Coinone Transfer, a subsidiary of the Coinone cryptocurrency exchange operator, will be using a Ripple (XRP) blockchain solution to offer its customers a new and better service with which they can send remittances throughout the Asian region faster and cheaper. Besides, different banks and big financial institutions have already adopted Ripple cross-border payments solutions, such as xRapid.

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Crypto

Ripple (XRP) Dropped Significantly In The Last 24 Hours – Here’s The Background Of This Loss

The third biggest cryptocurrency by market capitalization, the Ripple (XRP), was impacted by a collective lawsuit filed on Thursday, May 3rd, in the United States. The value of the token collapsed this week, with a 24% downtrend on a seven-day basis and an 11.26% drop in the price of the token over the last 24 hours.

The complainant, Ryan Coffey, is demanding an undisclosed compensation and has declared that Ripple Labs is currently marketing unregistered securities. The report notes that the US Securities and Exchange Commission (SEC) has made it quite clear that digital tokens, such as XRP, frequently represent “securities and cannot be sold legally without being registered with the SEC or requesting an exemption from registration.”

Ripple (XRP) prices – XRP dropped hugely

At the moment of this article, XRP trades at $0.70, dropping by 11.26%, due to the negativity that surrounds it but also due to a massive cryptocurrencies market downtrend, recorded today.

Apparently, the crypto market dropped due to the massive selling of cryptocurrency holdings conducted by the majority of UpBit traders.

However, the analysts think this negative correction is only temporary as the traders will re-invest in the following days. Therefore, the Ripple (XRP), along with the other cryptos, will recover.

Ryan Coffey’s case states that XRP is owned by people related to the company and is released in a selective way to boost its value

Coffey’s litigation is addressed to both the company and its CEO Brad Garlinghouse and it is argued that, unlike being mined such as Bitcoin (BTC) or Ethereum (ETH), XRP tokens “are created from scratch” and are possessed by people related to Ripple (XRP) who issue the altcoin in a selective way, as in an unending ICO.

It is alleged, according to the legal action, that these people are quietly marketing Ripple to the masses in an endeavor to boost the demand for XRP and, consequently, the price of the cryptocurrency in an attempt to raise their profits.

Furthermore, a number of recent Bloomberg reports emphasize the circumstance that, as the XRP is still not well understood and clarified, it might indicate that the Ripple (XRP) falls under the SEC’s guidelines for securities.

Categories
Crypto

Ripple (XRP): Ripple Team Announces The Launch Of Rippled 1.0.0

Nik Bougalis, a leading developer for the Ripple team, announced the launch of Rippled 1.0.0, with Rippled being how the Ripple devs call the core server of the Ripple (XRP) P2P network.

On Github, the regular Rippled GitHub has been established yesterday to the version 1.0.0 rc1 (Release Candidate 1), which means that the product is “going silver”, meaning that XRP Ledger is getting closer to become introduced in the market as it goes out of its beta testing stage.

As for the Rippled 1.0.0 release date, Nik Bougalis tweeted:

The software is a bit like a soufflé. You can’t rush it. It’s ready when it’s ready. With that said. I think this particular soufflé will be coming out of the oven soon.

Rippled 1.0.0 is rumored to be launched during the Ripple (XRP) Community Night

It could mean the software is prepared for a non-beta version, turning it into a market product and elevating the adoption levels to new heights. The Rippled server is the core of the XRP Ledger, however, and developments in the performance and refinement of Rippled might make the Ripple (XRP) crypto more reliable, straightforward, and more performing.

This announcement also comes in addition to another milestone in the Ripple community, as on May 15th Ripple’s will host its renowned community event, the XRP Community Night, which will feature the famous US rapper Snoop Dogg as a VIP guest.

Some Ripple (XRP) enthusiasts were quick to make a connection between the two happy events for the XRP community and some even voiced that Snoop Dogg will inaugurate the official launch of Rippled 1.0.0.

Ripple (XRP) price

At the moment of this article, XRP trades at $0.80, after declining by 1.20% in the last 24 hours. Yesterday, XRP closed at $0.81. In fact, the crypto token is continuously declining since May 5th when XRP closed at $0.90, its biggest closing value in more than 2 weeks.

At the moment, Ripple (XRP) is on the 3rd place in the cryptocurrencies market.

In short, Rippled 1.0.0 launch might induce the long-awaited boost in XRP price that Ripple’s token needs to recover at its value against the USD of before the massive crypto market correction of the beginning of this year.

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Crypto Finance News

Ripple (XRP) Is Now An Official Partner Of Coinone Transfer

We have some great news for Ripple (XRP) enthusiasts, the cryptocurrency is partnering with Coinone Transfer. In case you didn’t know, Ripple (XRP)’s new partner is a payment business subsidiary of Coinone’s exchange platform. The reason why Coinone Transfer is partnering with Ripple (XRP) is because it wants to be a customer of the cryptocurrency’s xCurrent product.

xCurrent

Obviously, Ripple (XRP) is the world’s third biggest cryptocurrency with a market capitalization of $30.6 billion, but that’s not why Coinone Transfer is partnering with it. Coinone Transfer wants to utilize the xCurrent service that Ripple (XRP) offers. xCurrent gives companies the ability to perform bank-to-bank global funds transfers.

Cross

We should mention that Coinone Transfer is going to become the first South Korean based exchange platform to use xCurrent. Moreover, the new product is going to be named “Cross” and it will be a new remittance service that is targeted towards transferring funds across Southeast Asia.

Fast Transfers at Low Cost

xCurrent is the perfect choice for Coinone Transfer because Ripple (XRP)’s product is able to perform global fund transfers in an instant. Not just that, but the fee that xCurrent charges is basically inexistent because it is only 0.0004 XRP per transfer.

Largest Asset Exchanges

This partnership might help Ripple (XRP)’s token price grow because Coinone Transfer is the biggest asset exchange in South Korea. The company handles over $97 million dollars in transactions every day and its also a member of the DAYLI financial groups which means that it works with SBI Ripple Asia.

Coinone Transfer CEO Speaks Out

“We are proud to be the first digital exchange in Korea to join RippleNet and implement Ripple’s xCurrent solution. Ripple’s xCurrent solution will revolutionize the lives of our customers by providing them with a real-time, low-cost global remittance service.” Said Wonhee Shin who is the CEO of Coinone Transfer.

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