Rate Ripple will go up – analysis of rate for may 31, and forecasts
The pair XRP/USD is trading above the level of $0,6, and experts predict an increase in profits. Cryptocurrency received support at the level of $ 0,5440 and resists bearish trend, gradually restoring the position.
On a two-hour stock chart shows clearly the break of the descending channel with resistance at$0,5900. Experts call it a good sign that the currency pair held above $0,6. The RSI indicates oversold, which gives the bulls an excellent opportunity to increase the rate to $0,65. The next line of resistance is at the level of $0,68. General price developments are positive, and experts predict further growth.
Ripple will cease to depend on bitcoin!
CEO Ripple brad Garlinghouse said that soon the impact of bitcoin on altcoins weaken. Market participants are aware of the differences between digital assets, and mutual dependence of these courses will come to an end. Ripple CEO said: “the Correlation between the XRP and Bitcoin is very high, but is an independent technology and open source. While the industry of cryptocurrencies in the early stages of development, but soon the behaviour of the participants will be more rational. For now, the market is dominated by speculation“.
Arlinghaus am confident that the market will ripen and people will begin to better understand the use of cryptocurrencies. 99% of the existing digital assets disappear, not having existed for 10 years due to the fact that their creators do not offer any solutions to the existing problems. The goal of Ripple is to establish a system of available cross-border transactions. In early 2018, the company managed to sign more than 20 partnership agreements.
Previously on this topic in the news:
13.04.2018: XRP will continue to grow: Santander Group launches the fast payments from Ripple
One of the largest banks of Spain, Santander Friday starts a new withthe system of international money transfers. On the basis of the application is the technology xCurrent, which operates cryptocurrency Ripple.
Service called Santander Pay One FX will allow customers to make international money transfers in a short time (1-2 days). The sender during the transaction will see information about the exact transfer amount in the currency of the destination country. While the app will be available to customers from Spain, Poland, Brazil and the UK. If the project launch is successful, the service will appear in other countries.
The pilot version was tested 18 months. Enterprise service xCurrent from Ripple based on blockchain technology and has huge potential. The launch of the Santander One Pay FX is only the first step. Ripple has partnered with Santander for quite some time. In 2015, the financial institution was supported by a startup, investing $4 million through the venture capital Fund.
Chairman of the Board of Directors of Santander Ana Botin , commented on the project: “Our goal is to help thousands of clients who daily send and receive international payments. In the coming months we will add more currencies and directions“.
Experts believe that investor interest in the cryptocurrency Ripple will increase dramatically. Especially against the background of a future deal with Apple and with the active cooperation of the company with banking institutions.
12.04.2018: Ripple is investing $25 million in new Fund
The company Ripple will invest $25 million in new venture Fund, a California-based company Blockchain Capital. The announcement appeared in the official blog of Ripple on Wednesday.
Activities Blockchain Capital Fund aimed at funding promising cryptocurrency and blockchain startups. Patrick Griffin, Vice President for strategic development at Ripple stated: “the Blockchain Capital is the main Foundation for any project, which is looking for its niche in the blockchain space. The Fund has checked the search schema, evaluation and funding are really important projects“.
Last month, Blockchain Capital announced the receipt of a$150 million investment. Funds received from Ripple, will be used to develop projects using the blockchain. The investment will help to find ideas to improve XRP tokens and Protocol Interledger, which is actively used in the banking sector, and its planned integration with Apple Pay.
Co-founder and managing partner of Blockchain Capital, Bart Stevens said: “As pioneers in the field of technology, we investor companies are at the forefront, creating a new ecosystem”.
24.03.2018: Three big problems Ripple
Ripple is not only known as a cryptocurrency, but also as a software for the banking system. Developers periodically announce about signed contracts and agreements of intent with the world’s largest banks. Last month became aware of the Ripple partnership with payment provider LianLian International (Hong Kong) in the implementation of blockchain solution xCurrent to conduct cross-border payments. According to the latest information the company conducts informal negotiations with regulators, banks and payments providers on the launch of its solution xCurrent in China.
But is it good La investors and holders of Ripple coins? Why, despite the positive news, the price of the cryptocurrency is not growing rapidly.
Analyst at Weiss Ratings (the Agency that assigns ratings to cryptocurrencies) Juan M. Villaverde has shared his opinion about the existing shortcomings and prospects of Ripple as a cryptocurrency and the project as a whole.
In his opinion, firstly, the company Ripple too reliant on transactions with banks and financial institutions. But with all the progressive approach and using blockchain technology to reduce the time and costs of the transaction, in fact it is just a way of converting Fiat currency into tokens and Vice versa. The banks do not have to use coins for transactions.
In fact, every Fiat currency binds the new token, which it fully complies. This is called “tokenization currency”, which, in turn, eliminates the need to use tokens Ripple in remittances. By and large, well-known payment system WebMoney uses a similar principle of operation.
For investors who actively invest in the coin means it’s a red flag.
Second. Ripple is not a public company and the coins are not shares. In other words, the owners of digital coins are not eligible for the profit potential of the company. You can say that Ripple is just a “sample” coin for banks.
And third, the main problem of this company lies in its centralization. Unlike bitcoin, Ripple has a feature of emission control and centralized management of the entire system. This means that it is less resistant to regulatory restrictions imposed by government agencies.
“Ripple is on the way traditional financial institutions, deeply integrated into the world habitual to us, which is controlled by governments and supranational institutions,” said Villaverde.
Thus, close to Ripple for the government is not a big problem. Needless to say, what will happen to the rate of token in this case?
Global network such as SWIFTcan be technologically worse RippleNet, but banks ultimately unable to abandon the use of the token XRP, if you see a threat to their business models. In addition, supranational institutions and governments, of course, will (and some already on this journey) to produce their own tokens to maintain full control over their monetary systems.
Villaverde said that the ban decentralized cryptocurrencies is almost impossible. However, Ripple has nothing to do with decentralization.
The conclusion is this. In the short term Ripple can be considered “неплохоq investment”, but if we consider this coin as an asset for long-term investments, it is necessary to consider the above risk factors.