Connect with us

Altcoins

Who owns Ripple?

Published

on

What is interesting to note here is that Ripple or XRP is supposed to be a decentralized digital currency platform however Ripple itself is privately owned.

Who owns Ripple?

Ripple Labs has made quite a mark for itself in the digital market and has quite been the talk of the fintech town. People have been getting quite excited about this platform, which is a digital currency exchange, real time gross settlement system, and payment protocol. Ripple was created by the Ripple Company. They claim to offer a medium to send money globally and ensuring that it is done so by giving its customers a frictionless experience. Ripple is majorly a distributed open source protocol with a shared distributed ledger and it also offers the decentralized digital asset or digital currency called XRP. It is this which is being popularised under the name of Ripple and is owned by Ripple Labs.

The company Ripple was founded in 2012 with its headquarters in San Francisco, California, United States. It majorly falls under the computer software industry and was renamed in 2015 to Ripple Labs. It serves a worldwide user base and is quite popular amongst several traders, investors, digital currency enthusiasts and many more people.

 

Key people in Ripple

The key people that have been involved with Ripple Labs are Alan Safahi, Advisory Board, Ryan Fugger, and Concept Originator. Joining these people are also, David Schwartz, Chief Cryptographer, Ken Kurson, Advisory Board, and Brad Garlinghouse, Chief Executive Officer. The major products that the Ripple Labs provide to its users and clients is Ripple payment and an exchange network.

As of 3 July, 2018, the exchange rate for the Ripple currency is $0.05 and the market cap for the same is $39.134 billion. Moreover, it boasts of a great circulation supply of 39,009,215,838 XRP. However, this is a limited quantity digital currency just like Bitcoin and has a circulation supply limit of 100,000,000,000 XRP.

It can handle about 1500 transactions per second which is quite a remarkable job in itself. This is one of the reasons why it has become so popular amongst the world population interested in this kind of a product or service.

If the company researches and makes further developments to scale the entire Ripple network, it could offer to its users and clients the same throughput as of the one provided by Visa. Visa has been handling about 50000 transactions per second. (Throughput is defined as the amount of transactions passing through a process or a system in a stipulated amount of time).

 

Ripple Labs

The founders of Ripple Labs, who own Ripple, are Chris Larsen and Jed McCaleb. On paper, Chris Larsen is now worth almost $59.9 billion which is way more than what the founders of Google are worth, on paper. This major event has come up resulting to the recent digital currency market price surge in the digital market and has brought about quite a stunning change of events.

 

Ripple is not Decentralized

What is interesting to note here is that Ripple or XRP is supposed to be a decentralized digital currency platform however Ripple itself is privately owned by Ripple Labs. By standard definitions of a digital currency, Ripple does not even exactly qualify to be a decentralized virtual currency because it is privately owned. Ripple is a big major player in the entire digital currency market and is a strong contender. The current valuation of Ripple, when compared to other privately owned companies like Airbnb and Uber.

So after all, when other digital currency platforms like Bitcoin, Bitcoin Cash, Ethereum, etc are not owned privately by anyone and is a completely decentralized platform. So like we say that the creator of Bitcoin is Satoshi Nakamoto, but he does not own it, moreover people do not even know who he exactly is. Contrary to this, going against the norms of a standard digital currency, Ripple is actually privately owned by Ripple Labs. It is not of the people or for the people and is not managed by these developers or volunteers like in Bitcoin and other virtual currencies, Ripple is managed and operated by Ripple Labs.

Although many say that the XRP protocol can run without the Ripple company supporting it, it is still managed by them and they continue to make herculean profits off this digital currency. So much so that they currently stand at the second position in the digital market capitalisation and thus puts it in a very major and dominating position in this fintech world.

#Daily Price Analysis

Ripple Price Analysis: Can XRP recover?

Published

on

Ripple price is at present exchanging a range. XRP/USD must break the $0.5200-0.5250 resistance to move into a bullish zone.

MACD – The MACD for XRP is presently in the bearish zone.

Strength Index– The RSI for XRP is floating close to the 50 level.

Support Level – $0.5000

Key Points:

  • XRP price moved up a little, however, it confronted a good selling close to $0.5250 against the US dollar.
  • There is a fleeting bullish pattern line framed with support at $0.5050 on the hourly outline of the XRP/USD pair.
  • The pair may keep on solidifying over the $0.5000 support in the following couple of sessions.

Ripple price is at present exchanging a range against the US Dollar and Bitcoin. XRP/USD must break the $0.5200-0.5250 resistance to move into a bullish zone.

 

Ripple Price Analysis

Recently, we talked about that ripple price could recoup towards the $0.5200 level against the US Dollar. The XRP/USD pair moved higher and cleared the $0.5100 and $0.5180 resistance levels. The upward move was certain as the price even outperformed the $0.5200 level and settled over the 100 hourly straightforward moving normal. In any case, the price bombed close $0.5250 and the half Lie retracement level of the last drop from the $0.5610 swing high to $0.4860 swing low.

The price topped at $0.5253 and later began a drawback amendment. It moved beneath $0.5150 and the 23.6% Lie retracement level of the ongoing wave from the $0.4872 low to $0.5253 high. The current price activity is sure over the $0.5000 support region. There is a transient bullish pattern line framed with support at $0.5050 on the hourly diagram of the XRP/USD pair. Moreover, the half Lie retracement level of the ongoing wave from the $0.4872 low to $0.5253 high is going about as a support. For whatever length of time that the price is over the pattern line, $0.5000 and the 100 hourly SMA, it could recoup by and by.

 

 

XRPUSD 5 Day Chart 13 Nov

XRPUSD 5 Day Chart

 

Taking a gander at the graph, ripple price is right now uniting over the $0.5000 support. Purchasers will in all probability make another endeavor to push the price above $0.5200 and $0.5250 in the close term.

Continue Reading

#Daily Price Analysis

XEM Price Analysis: NEM on a rise after Coincheck relisting

Published

on

XEM Price showed a bullish trend earlier today as Coincheck exchange announced the relisting of the XEM coin. The XEM coin was delisted from the exchange earlier due to the hacking of the exchange that led to stealing of XEM tokens worth half a million dollars.

 

XEMUSD 1 Day Chart

XEMUSD 1 Day Chart

XEM Price Analysis

Support Level: $0.1177
Resistance Level: $0.1209

 

The price of the coin was trading around $0.092 just before the announcement of the relisting of the coin on Coincheck. Just a minute before the announcement the price started to rise tremendously and hit a high of $0.1223 showing more than a 28% rise in the last 24 hours.

The coin is currently trading around $0.1188 with the major support at $0.1177 and the resistance at $0.1209.

The XEM Token is ranked 15 according to market capitalization and showed the yearly high in January 2018 of $1.86.

The coin is expected to experience some bearish hurdles while settling down to a notable price.

Continue Reading

#Ripple

Ripple Updates: New office, XRP tip bot, Nasdaq, Trezor and more.

Published

on

Ripple has been steady in collaboration and advancements throughout the globe. Here are some of the recent advancements with respect to Ripple and XRP:

Ripple has been quite steady in collaboration and advancements throughout the globe. Here are some of the recent advancements with respect to Ripple and XRP:

XRP Tip Bot in Amazon Alexa

The XRP Tip Bot is ready to be a part of the Amazon’s Alexa. This will allow Alexa Users to easily transact their XRP by using voice command on the Alexa Device. The Alexa application developer posted on Twitter on November 6 about Alexa’s implementation of XRP

 

XRP likely to be listed on Nasdaq in 2019

A source from the National Association of Securities Dealers Automated Quotation Exchange (NASDAQ) said that the exchange’s crypto initiative in 2019 is surely interested in scalability and they cannot put apart XRP which is a top-level security cryptocurrency by market cap. The Nasdaq team also said that they believe that XRP is surely going to be the 2nd largest crypto in the future after bitcoin but there hasn’t been any official announcement for the same.

 

Trezor Model T

Trezor will likely list a list of more altcoins in the upcoming model T update of the Trezor Device which will include XRP as well.

 

Cred to provide XRP backed loans

Cred, which is a leading provider of cryptocurrency backed lending. This will help the XRP owners to get loans using their XRP as a collateral security without actually having to sell their tokens.

 

Ripple Opening office in Dubai

Ripple Labs has planned to open their new office in Dubai in order to get themselves a strong position in the middle east markets.

 

Banks adopting Ripple’s Technology

Japan’s MUFG Bank and Brazilian Bank Banko Bradesco have signed an MOU to start using Ripple Software to send cross-border payments between Japan and Brazil. The Banks will use just Ripple’s software XCurrent and not the XRapid which uses the XRP coin. Ripple also tweeted about the collaboration:

 


 

The level of collaboration that Ripple has globally has been rising day by day. However, the XRP investors are still waiting for the real adoption of XRapid which will use the XRP tokens for the transfers rather than just the XCurrent Software of Ripple Labs.

Continue Reading
Advertisement blockonix.com

Live Crypto Prices

  • BTC
  • USD
  • AUD
  • CAD
  • EUR
  • BTC
    Bitcoin(BTC) 5638.85559385
  • ETH
    Ethereum(ETH) 178.457965616
  • BCH
    Bitcoin Cash(BCH) 437.319255269
  • EOS
    EOS(EOS) 4.5827626399
  • LTC
    Litecoin(LTC) 43.2597682986
  • ADA
    Cardano(ADA) 0.0613514576
  • TRX
    TRON(TRX) 0.018763162
  • DASH
    Dash(DASH) 139.81454573
  • XEM
    NEM(XEM) 0.0938614751

Trending