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Ripple News | Ripple Confirms xRapid Launch for Public

xRapid, Ripple’s XRP-powered platform, is almost ready to be launched to the public.

xRapid Ready for Liftoff

Cory Johnson, Ripple’s Chief Marketing Strategist, commented on Ripple’s latest announcement stating that the company’s xRapid pilots have gone as planned.

Johnson said:

“We’ve seen several successful xRapid pilots already, and as we move the product from beta to production later this year, these exchange partners will allow us to provide financial institutions with the comfort and assurance that their payments will move seamlessly between different currencies.”

Last week, Ripple announced that it signed partnerships with three major crypto exchanges for xRapid. Ripple is working with Bittrex, a major crypto exchange in the US, and it has become the preferred for xRapid transactions that move through the US Dollar.

Bittrex is one of the biggest names in digital asset trading in the U.S,” said Cory Johnson, Chief Market Strategist at Ripple.

Ripple also signed partnerships with Bitso, for the Mexican Pesos, and Coins.ph, for the Philippine Pesos.

>> Ripple Signs Three Partnerships

xRapid

xRapid is geared towards financial institutions and other financial institutions.  The platform seeks to minimize liquidity costs while improving customer experience.

What draws the financial institutions to this products is that payments made into emerging markets often require pre-funded local currency accounts and xRapid removes that. Often, liquidity costs are high, but xRapid reduces the capital requirements for liquidity with its XRP token.

Ripple’s website describes xRapid as:

“xRapid uniquely uses a digital asset, XRP, to offer on-demand liquidity, which dramatically lowers costs while enabling real-time payments in emerging markets. Built for enterprise use, XRP offers banks and payment providers a highly efficient, scalable, reliable liquidity option to service cross-border payments.”

In one test between the US and Mexico using xRapid, Ripple said that financial institutions saved 40-70% on what they would have paid foreign exchange brokers.

MoneyGram and Western Union are currently in pilot testings on xRapid.

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Ripple xRapid Partnerships | Bittrex to be the Preferred Exchange

Ripple (XRP) has just announced that it has signed three major partnerships for xRapid, its product geared towards financial institutions. These Ripple xRapid partnerships will allow the XRP token to be exchanged to and from another currency efficiently.

Bittrex & Ripple xRapid Partnerships

The popular US-based cryptocurrency exchange Bittrex has just become the ‘preferred’ crypto exchange for xRapid transactions that move through the US Dollar.

Bittrex is one of the biggest names in digital asset trading in the U.S,said Cory Johnson, Chief Market Strategist at Ripple.

Ripple has also signed partnerships with Bitso, for the Mexican Pesos, and Coins.ph, for the Philippine Pesos. In order for Ripple’s xRapid product to be successful, it must have a ‘healthy’ ecosystem of digital exchange partners; this is exactly what Ripple has established with these three partnerships.

We are excited to be partnering with Ripple to bring the benefits of blockchain technology to cross-border payments, making sending money home more affordable for 10M+ overseas filipino workers,” says Ron Hose, CEO of Southeast Asia’s e-wallet and financial services company Coins.ph.

Bittrex Making Moves

Last week Bittrex announced that it would be launching USD (fiat) markets for XRP, a key indicator that the exchange was making moves behind the scenes.

Bittrex is competing in the newly competitive US crypto exchange market. Coinbase has started expanding the coins on its platform and added Ethereum Classic just yesterday. Many of the other major cryptocurrency exchanges have all begun making plans to launch US versions of their platform in the near future.

>> EOS, Tron (TRX), & VeChain (VET) Get a Boost

This move by Bittrex keeps the platform in contention for top US-based crypto exchange.

XRP Price Movement

At press time, XRP is currently trading at $0.313 a coin, up 8.09% in 24 hours.

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Ripple Targets China | Large Financial Market to be Discovered

Ripple, the third largest cryptocurrency project by its total market cap, confirmed that it is targeting the large Chinese market with its cross-border blockchain payment technology, CNBC reported this morning. Ripple targets China despite China’s anti-cryptocurrency reputation? Here’s why.

Ripple Targets China

Jeremy Light, VP of European Union Strategic accounts at Ripple, had a phone interview with CNBC and said, “China is definitely of interest, it is definitely a target.

Earlier this year, Ripple signed a deal with the Hangzhou-based financial institution LianLian International. This partnership is aimed at improving the cross-border transactions between China, Europe, and the US. The partnership was announced initially but it remains unknown if the financial institution is currently using Ripple technology yet.

China is widely known as anti-cryptocurrency but Ripple’s distributed ledger technology is aimed at aiding larger financial institutions. If Ripple were to enter this tight market, it would most likely focus on its blockchain technology rather than advancing the adoption of its cryptocurrency, XRP.

xCurrent Product Interest

Most banks and financial firms are currently uninterested in the cryptocurrency side of Ripple’s offering. Most large banks are testing to see if Ripple’s tech can save them both time and money. More specifically, lenders have signed deals with Ripple to use its xCurrent product, which is aimed at settling payments instantly around the world.

Ripple’s xRapid platform – where XRP is used – has seen interest from money transfer firms, such as Western Union and Money Gram. Not many large banks or financial institutions are interested in xRapid.

>> Ripple Price Sees Bullish Movement after Judge Denies Lawsuit – Connected?

Ripple currently has more than 100 financial institutions signed up to its network, and only one Chinese client. It has a long way to go in the Chinese market and it remains unknown which of its products the company plans on pushing.

XRP Price Movement

According to CoinMarketCap, XRP is currently trading at $0.292 a coin, up 12.09% in 24 hours.

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Ripple Price Correcting | Linked to the Ripple Lawsuit Win?

Yesterday, Ripple Labs scored a small victory, winning one of its many ongoing legal suits. Fast forward twenty-four hours, and the Ripple price has corrected. But why? Is XRP’s activity Wednesday linked to the Ripple lawsuit? Or is there another catalyst that’s helping the price?

Suit Denied, Ripple Price Correcting: August 15, 2018

Ripple Labs has been slapped over and over again with lawsuits this year. In fact, the last one came on August 9. For these reasons, the Tuesday win is likely a breath of fresh air for Ripple Labs and the XRP community. 

On Tuesday, August 14, the Northern District of California denied Ryan Coffey’s effort to move a Ripple lawsuit to a lower court. At the start of 2018, Coffey stated XRP’s a security, but Judge Phyllis Hamilton stated that the rules the investor cited do not apply. 

While this may have been a blow to some, it was the opposite for others. Looking at the market, it appears the latter mentality is the more dominant one, but there’s an alternative explanation for that. 

Ripple Price Today

After days of selling off, XRP is sporting a green look today, indicating bullish movement. 

At press time, XRP is selling for $0.287931, which puts the coin up 9.50% in the past twenty-four hours. 

Ripple price
Source: CoinMarketCap

Is It Connected?

Even though it may look like it, it’s more likely that XRP’s market sentiment has nothing to do with Ripple Labs’ win yesterday. And why? Well, as Cory Johnson has said (on multiple occasions), Ripple Labs and XRP are not the same. 

As a result, it appears the XRP price movement has more to do with the market’s overall improvement Wednesday. XRP is not the only coin doing well today, all of the top-ten coins are. Bitcoin is up 4.69%, while Ethereum is up 9.40%. 

The Takeaway

What do you think about all of this recent Ripple news? Are you glad the judge denied the latest request in the Ripple suit? Do you think the Ripple price activity can continue like this, or will it go back to selling off? 

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Ripple Price Correcting | Linked to the Ripple Lawsuit Win?

Yesterday, Ripple Labs scored a small victory, winning one of its many ongoing legal suits. Fast forward twenty-four hours, and the Ripple price has corrected. But why? Is XRP’s activity Wednesday linked to the Ripple lawsuit? Or is there another catalyst that’s helping the price?

Suit Denied, Ripple Price Correcting: August 15, 2018

Ripple Labs has been slapped over and over again with lawsuits this year. In fact, the last one came on August 9. For these reasons, the Tuesday win is likely a breath of fresh air for Ripple Labs and the XRP community. 

On Tuesday, August 14, the Northern District of California denied Ryan Coffey’s effort to move a Ripple lawsuit to a lower court. At the start of 2018, Coffey stated XRP’s a security, but Judge Phyllis Hamilton stated that the rules the investor cited do not apply. 

While this may have been a blow to some, it was the opposite for others. Looking at the market, it appears the latter mentality is the more dominant one, but there’s an alternative explanation for that. 

Ripple Price Today

After days of selling off, XRP is sporting a green look today, indicating bullish movement. 

At press time, XRP is selling for $0.287931, which puts the coin up 9.50% in the past twenty-four hours. 

Ripple price
Source: CoinMarketCap

Is It Connected?

Even though it may look like it, it’s more likely that XRP’s market sentiment has nothing to do with Ripple Labs’ win yesterday. And why? Well, as Cory Johnson has said (on multiple occasions), Ripple Labs and XRP are not the same. 

As a result, it appears the XRP price movement has more to do with the market’s overall improvement Wednesday. XRP is not the only coin doing well today, all of the top-ten coins are. Bitcoin is up 4.69%, while Ethereum is up 9.40%. 

The Takeaway

What do you think about all of this recent Ripple news? Are you glad the judge denied the latest request in the Ripple suit? Do you think the Ripple price activity can continue like this, or will it go back to selling off? 

Featured Image: Depositphotos/© mdkhalil1

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