Ripple cites recent reports about fake cryptocurrency trading volumes, such as the one recently released by United States-based asset manager Bitwise, which claims that 95% of bitcoin (BTC) trading volume is fake. However, a new report by Bitwise also claims that fake trading volumes by crypto exchanges do not impact bitcoin’s price.The firm promises to take steps to address these concerns by collaborating with partners in the space, evaluating its approach to XRP data reporting and “taking a more conservative approach to XRP sales this quarter.” Ripple notes that, as a consequence, XRP’s sales in the second quarter of 2019 will be considerably lower than in the first quarter. In line with accuracy in reporting data, crypto market cap tracker CoinMarketCap (CMC) announced a new alliance called the Data Accountability & Transparency Alliance at the beginning of May. CMC also noted at the time that it would remove exchanges from its calculations if they fail to provide mandatory data by June.
SBI Ripple Asia — a subsidiary of Japanese financial services giant SBI Holdings — is launching a store settlement service affiliated with SBI Holdings and Ripple’s jointly developed consumer-focused XRP-powered payments app MoneyTap. The new store settlement service reportedly intends to pave the way for the roll out of full-scale in-store payment services using MoneyTap by the end of the year.Its first trial demonstration — which leverages QR code technology using smart phones — will be conducted by SBI at a restaurant in Roppongi 1-chome Izumi Garden Tower, Cointelegraph Japan reports. SBI will reportedly analyze user experiences in order to develop the service before its launch at scale.In April, SBI Holdings’ CEO and representative director Yoshitaka Kitao was appointed as an executive of Ripple Labs Inc.SBI has also made a wide-ranging series of investments in business developing crypto infrastructure and services.
Coin Metrics, which conducts analysis of various aspects of cryptocurrency tokens, investigated Ripple and discovered what it said were contradictions that required an explanation.According to Coin Metrics, Ripple did not respond to repeated requests for clarification of researchers’ concerns.The company has previously attracted criticism from commentators over the past year: in February, a separate report from trading platform BitMEX accused the company of being overly centralized. XRP has had a successful month in May, after American cryptocurrency exchange Coinbase released trading to New York residents and Germany’s second-largest stock exchange debuted an XRP and litecoin (LTC) exchange-traded note.
There was a strong upward move above the $0.3480 resistance in ripple price against the US Dollar. The XRP/USD pair surged above the $0.3500 and $0.3600 resistance levels. The price traded close to the $0.3750 resistance and settled well above the 100 hourly simple moving average. Later, there was a downside correction, but the $0.3480 support acted as a buy zone. There was a fresh increase, but the price failed again near the $0.3750 resistance area.As a result, there was a sharp decline below the $0.3600 and $0.3480 support level. Moreover, yesterday’s highlighted important bullish trend line was breached with support at $0.3600 on the hourly chart of the XRP/USD pair. The decline was such that the price even spiked below the $0.3400 level. It tested the $0.3280 support area and the 100 hourly simple moving average. A strong buying interest emerged near $0.3280, resulting in a rebound above $0.3400. The price broke the 23.6% Fib retracement level of the recent decline from the $0.3746 high to $0.3281 low.
Ripple can partner with cryptocurrency exchanges across the globe that are capable of accepting fiat currency from banks. It then converts fiat money into XRP and transmits it to the destination, where it is instantly converted back into fiat. Birla explained that the current cross-border payments system is legacy in nature as sending money from one country to another is a time-consuming process. But Ripple needs to ensure that it complies with the regulations of those countries where it plans to set up a payments corridor.Ripple has been busy striking partnerships with payments providers and crypto exchanges to get xRapid off the ground.American Express is one more marquee name that’s partnering with Ripple’s XRP-enabled real-time payments platform.
Coinbase customers can now transfer funds to any user with a Coinbase account around the world using Ripple (XRP) and the exchange’s
A crypto analyst known in the industry as Donalt says if the crypto bull market continues, XRP is poised to outperform all other major cryptocurrencies. In a new tweet, Donalt joked about the meme that XRP could one day hit $589, telling his 88,000 followers that if altcoins continue to pop, the digital asset is well-positioned to reap the biggest gains. During the last bull run, the digital asset recorded a staggering 68,782% increase from its price of $0.005415 on March 1, 2017, to its height of $3.73 on January 4, 2018
The litecoin price rose to $37 after falling under the psychological $30 price last month amid a bitcoin and cryptocurrency bear market that’s dragged on the sector for the last 13 months. Litecoin fell to lows of around $22 late last year as the so-called crypto winter took its toll, down some 93% from its all-time high.Litecoin’s rapid rise saw it overtake first bitcoin cash, an offshoot of the original bitcoin, and then EOS, an ethereum rival, moving into fourth place on the list of the world’s biggest cryptocurrencies by market value, according to CoinMarketCap prices.”We have started exploration towards adding privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into a Mimblewimble variant of LTC and vice versa,” Beam wrote in a Medium post. “Upon such conversion, it will be possible to transact with Mimblewimble LTC in complete confidentiality.”Bitcoin and cryptocurrency fever gripped the world in 2017, with some major coins, including Ripple’s XRP, ethereum, and litecoin, seeing price percentage increases that far outstripped bitcoin itself.
According to a new analysis comparing portfolios with and without Bitcoin, a 1% allocation of BTC can significantly boost investors’ returns.Independent analyst PlanB says holding 1% in Bitcoin in a 99% cash portfolio has historically yielded 10% returns, beating the S&P 500’s two-year risk/return mark “every year.”The Brazilian cross-border payment platform BeeTech has released a new ad showcasing how Ripple’s technology is helping it create a faster and simpler way to move money.The top three decentralized apps (DApps) are all running on the Tron network, according to DappRadar. The list is sorted by most users in the last 24 hours.Although Monero is designed to hide wallet addresses, Spagni says many people don’t realize it can be audited – if the wallet owner decides to hand over the info.The Ethereum-powered entertainment platform Breaker (formerly known as SingularDTV) has released its first on-demand film called ‘Prospect’. Breaker is designed to give people the power to distribute films and albums utilizing smart contracts to ensure funds are properly and automatically distributed to the creators.
The recent announcement by Ripple noted that they had partnered with over 200 banks and Financial Institutions [FIs] around the world and that 100 of these customers were signed within 2018. Navin Gupta mentioned how signing the first 100 partners took over two years as banks and FIs were hesitant about DLT and cryptocurrencies.In addition, Gupta mentioned how 2019 would be a much favorable year as compared to the previous years and also said that there were clear “regulatory signals” in ASEAN such as Thailand, Philippines and Singapore moving ahead on digital assets.The National Bank of Abu Dhabi [NBAD] was the first bank in the Middle East to sign on to RippleNet in February 2018 and FIs like Al Ahli Bank of Kuwait and BFC Bahrain are also part of RippleNet.