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The Ripple XRP Rise – What’s Behind It?

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At present Ripple, has the potential to move up a notch 2018. The more banks use it as their transaction platform, the higher the value of XRP.

Generally considered the world’s third-largest cryptocurrency, Ripple (XRP) recently experienced an astounding 14 percent rise, temporarily replacing Ethereum as the number two ranked cryptocurrency for what is now the fourth time over the last year.

This 14 percent rally occurred over a period which saw no other large-cap cryptocurrencies muster a rise of more than four percent.

While much of the discussion has been centered on XRP surpassing the circulation of ETH briefly, and whether a time will come where it can bypass it for a sustained period, it’s worth looking at some of the reasons why this rise happened.

 

Expansion Into the Middle East

At the 2018 Global Islamic Economic Summit in Dubai, Ripple announced plans to set up an office in the United Arab Emirates largest city.

This news comes on the heels of September’s announcement of a partnership with the National Commercial Bank, a Saudi institution that boasts more than five million customers worldwide.

Ripple’s global head of infrastructure, Dilip Rao, has confirmed that along with Saudi Arabia, financial institutions in Kuwait, Bahrain, and Oman have already begun the process of utilizing XRP to facilitate cross-border payments, or have begun to run pilot tests on the Ripple blockchain.

 

The Banco Santander Factor

Although first announced in March of this year, the strategic partnership between Ripple and $80 billion banking titan Santander wasn’t all that clear until the announcement in October of the integration of RippleNet into Santander’s OnePay FC mobile banking app aimed at cross-border payments.

The Ripple-based app was initially released in the UK, Spain, Poland, and Brazil, but expansion to other parts of South America, Asia, and Europe was also announced.

The success of this venture will likely play a huge role in determining how other financial institutions approach a possible relationship with Ripple.

 

The “X” Factor

Anyone who’s been involved in crypto for any length of time knows that we can see increases and dips for more obscure reasons. Not every spike can be attributed to something as easily identifiable as a partnership with a billion dollar bank or branching out into new territory.

Something as minor as a mention in a respected trade journal like the American Banker website, or an extremely tenuous suggestion that we could see XRP payments integrated with ApplePay by way of a Tweet by crypto-wallet provider Wirex can be enough to send the cryptosphere into overdrive, with proclamations of Ripple’s XRP rallying on “news of ApplePay option.”

 

Is the Momentum Sustainable?

When all is said and done the most critical question is can this momentum be maintained? On a number of occasions XRP has risen above ETH in becoming a distant 2nd to bitcoin, but each time it has run out of steam and slipped back.

Both crypto assets remain close in the race to establish the most prominent alternative to the industry mainstay, but with a $700 million edge on Ripple’s $21.2 billion valuation, Ethereum is still out in front. Barely.

One thing for sure is that it’s going to be interesting to see how both perform over the coming months.

 

Guest Post by Aubrey Hansen

#Ripple

Ripple Donating $1 million to Tipping Point

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Ripple is planning to donate $1 million to Tipping Point. According to its website, Tipping Point is an organization that fights poverty in the Bay Area.

Ripple is planning to donate $1 million to Tipping Point. According to its website, Tipping Point is an organization that fights poverty in the San Francisco Bay Area by identifying and investing in promising interventions. According to Ripple’s blog, around 75% of people in the world are poverty driven and are unbanked.

Tipping Point:

Tipping Point is an organization that helps the poor and needy people around the San Francisco Bay Area. The organization has already raised more then $250 million and the amount is being sued on things like employment, education and housing for the poor.

 

Ripple keeps itself involved in charity events. Earlier, Ripple started an initiative called ‘Ripple for Good’ for supporting educational and financial inclusions of people around the globe. Ripple had donated $100 million dollars back then.

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Ripple: XRP OTC Trading on Houbi Exchange

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Houbi announced its OTC trading for Ripple XRP. Houbi OTC is a peer-to-peer crypto trading platform provided by Houbi Global.

Big news for over the counter trading for Ripple XRP came on March 6, 2019, when Huobi announced its OTC trading for Ripple XRP. Huobi OTC is a peer-to-peer crypto trading platform provided by Huobi Global.

 

As per the CEO of Huobi Global, Livio Weng,  Huobi OTC is an effective solution for trading in this crypto trading ecosystem. The addition of Ripple XRP would surely a major step for the extension of this over the counter service.

 

Huobi OTC is one subsidiary of the Huobi Global. It completely aims at over-the-counter trades of cryptocurrencies. It provides a platform where you can post an advertisement for buying/selling cryptocurrencies on it. Thus, you can buy as well as sell these digital assets and complete your transaction with some third party by exchanging cryptocurrencies with fiat currencies.

 

Huobi is one of the leading cryptocurrencies exchange in the crypto market and occupies the 8th position as per market volume and has a total market volume of $715 million today. Apart from the introduction of Ripple XRP in its list of OTC trading, Huobi OTC also supports many other cryptocurrencies for its OTC trading. Bitcoin, Ethereum, EOS, USDT etc are some of the other cryptocurrencies who already are being traded OTC using Huobi OTC. It would be interesting to see what impact does this OTC trading offer to the current bear run of Ripple XRP.

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Analysis: Is XRP a security? What if XRP is deemed a security?

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If XRP is proved as security it will have a major impact on the entire crypto community. Investors should be prepared for a price shock.

XRP coins are pre-extracted and their decentralized nature is a matter of open discussion. Brad Garlinghouse, CEO of Ripple Labs, thinks that XRP is not a security coin and says: “I think it’s very clear that XRP isn’t a security. Garlinghouse defended the decentralized nature of XRP, stating that the existence of XRP does not depend on Ripple Labs. Ripple has never claimed that the price of XRP will rise, so there should be no expectations of the profit that XRP buys. Garlinghouse went on to say that if Ripple does not work, XRP will continue to function ( something that the CEO of Ripple has said over and over again ) Garlinghouse finished saying that the XRP is not a security and that XRP is different from Ripple.

 

Is XRP a security?

Many market players see the Ripple ( XRP ) as a centralized business front towards the cryptocurrency revolution.
Ripple, a private company, only uses XRP in its xrapid product and owns a considerable number of XRP coins.
Yes, users are payment processors, and banks focused on the xrapid Ripple’s product, which actively uses XRP.

The creators of the XRP Ripple Labs have been stifling the charge for a while, tearing it apart like an annoying bug. In 2018, Ripple Labs began to try to co-opt the story around the creation of XRP and the relationship between “Ripple” and “XRP” to dispel the idea that XRP is a security token.

In the past, Ripple, the company behind the XRP coin, has focused on persuading everyone that it is not a security.
While XRP can be purchased in transactions that have nothing to do with Ripple, it is important to note that about 80 percent of the XRP is in the hands of the Ripple company.

 

What if XRP is deemed as security?

If XRP is proved as security it will have a major impact not only on itself but on the entire crypto community. If XRP is legally recognized as a security in the United States, the company will be included in its ‘shareholders’ and the ownership of XRP will represent ownership of the company.

For investors in XRP, be prepared for a price shock if the SEC gives a ruling on the enforcement authorities against Ripple. Nevertheless, there has been much speculation about whether XRP becomes security; its value will be at the bottom. In Future, if XRP is classified as a security, Ripple should provide the owner of each coin a share of the company.

Ripple does not guarantee investors that the value of XRP will rise after the acquisition of the coin. However, XRP is a cryptocurrency designed for value exchange, and it is likely that other authorities will not classify it as a security.

Currently, purchasing XRP does not give you shares in the company. Ripple does not determine the price of XRP.

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