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Ripple (XRP)

Ripple (XRP) and Litecoin (LTC)

The cryptocurrency market is currently sitting just above $210 billion this morning. While mainstream media is heavily focused on cannabis at the moment, blockchain companies are still making moves in the background. Today, we’ll take a closer look at Ripple (XRP) and Litecoin (LTC) and the latest advancements with the two projects.

Ripple (XRP)

Ripple and XRP are often confused as the same and are often grouped together because what Ripple the company does ultimately affects/influences the price of XRP.

Less than a month ago, Ripple revamped its website to solely focus on RippleNet. RippleNet has just expanded its xRapid platform that uses XRP as liquidity for financial institutions. While its xCurrent platform currently has over 100 banks and financial institutions signed up and testing its XRP-less platform, Ripple’s goal is to eventually transition these institutions to RippleNet.

Ripple’s press release explained why using XRP is crucial for cross-border transactions:

“Pilots in the crucial U.S. to Mexico remittance corridor using XRP as a digital asset demonstrated savings of 40-70% compared to traditional costs. At the same time, it helped lower settlement times from two to three days to just over two minutes.”

At press time, XRP is currently trading at $0.465 a coin, up 0.34%, in 24 hours.

>> Small Bitcoin Fee: Only 10 Cents for $194 Million on the Bitcoin Network

Litecoin (LTC)

On Tuesday, LTC began trading on Gemini.

Gemini is the cryptocurrency exchange owned by the US Olympian Winklevoss Twins. Gemini is currently the 42nd largest cryptocurrency exchange by its total trading volume on CoinMarketCap.

BTC/USD pairs still equate for over 80% of the exchange’s volume in the last 24 hours. So far, LTC/USD only makes up 0.73%, with a volume of $214,836. On the 15th when the announcement was made about LTC being launched on Gemini, LTC surged 10% in an hour but quickly corrected.

The Litecoin Foundation also just celebrated its 7th birthday on the 12th.

According to CoinMarketCap, LTC is currently trading at $53.00 a coin, down -0.40%.

Check back in for more Ripple and Litecoin news!

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Ripple Swell | Day Two Concludes but XRP Drops Nearly 15%

The 2018 Ripple Swell conference concluded its final day yesterday. The two-day annual event put on by Ripple was held in San Francisco, California this year.

Day one of the Swell conference kicked off with a Q&A with none other than the 42nd President of the United States, Bill Clinton. Ripple’s CEO, Brad Garlinghouse, then spoke and delivered the opening remarks of the conference.

“It’s about the opportunity to be a builder—to partner with industry and enable something that hasn’t yet been seen: the dawn of another era in globalization,” Garlinghouse said in his opening speech about Ripple and the Internet of Value.

Global regulatory policies were the main discussion of the rest of day one, and it concluded with a short concert by the Counting Crows.

Ripple Swell Day Two

Swell day two kicked off with Ripple’s Chief Market Strategist Corey Johnson, who discussed proprietary research into payment trends and the adoption of blockchain and digital assets.

Global regulation seemed to bleed into day two, as the next discussion was about cryptocurrency regulations led by a group of executives from companies around the world. The former Chief Product Officer at eBay, R.J Pittman, led the third discussion about the ‘Future of Commerce.’

Daumantas Dvilinskas, CEO of TransferGo, held a flash talk after lunch about his company and how they are solving the cross-network settlement problem across the globe. The CEO states that his product has “transformed people’s lives” by providing free real-time cross-border transactions.

Dvilinskas explained, “We just launched our first xCurrent transactions from everywhere in Europe to India through a partnership with Access Bank. Ripple helped us build and manage this relationship.”

The conference sessions concluded with a session held by five industry experts on the big questions around digital assets adoption within the financial services industry. Ripple concluded the Swell conference with an award reception.

>> xRapid Expands into Commercial Production with RippleNet

XRP Price Movement

Despite the positive two days at the Swell conference and promoting RippleNet, XRP hasn’t been positively affected in the slightest. Quite the opposite actually.

According to CoinMarketCap, XRP is currently trading at $0.526 a coin, down -6.01% in 24 hours. In the last 48 hours, XRP has dropped nearly -15%.

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Cryptos in Red | Ethereum (ETH), Ripple (XRP), and Stellar (XLM)

Well is anyone truly surprised that last week’s crypto bull-run is over? There are cryptos in red today across the board. About 95% of the coinmarketcap.com’s top 100 list to be more precise, but we’re interested in the real losers. The top dog’s who are also today’s top losers, including Ethereum (ETH), Stellar (XLM), and Ripple (XRP).

Let’s check in with these cryptos in red.

Cryptos in Red: Ethereum (ETH)

Saturday saw Ethereum reach a high of $251.20. But it has been downhill from there. In the past 24-hours, ETH has made a further 10.32% drop. It is now practically at the same level it was before it began climbing last week. No exact catalyst is driving ETH price today, more than likely this fall is the “must come down” part of the phrase that starts with “What goes up…

Cryptos in Red: Ripple (XRP)

It was inevitable that Ripple would not be able to maintain such highs.

Let’s recap last week: last week, Ripple doubled its value in a 48-hour period. It hit a height it had never hit before—$0.69, which meant the coin had grown over 100%. The reason for the XRP price explosion could be attributed to Ripple Lab’s unveiling that its xRapid project could debut within a month. This seemed to spur on a rally. Importantly it had a knock-on effect on the market; cryptos were green across the board.

But alas, our biggest gainer then is our biggest loser now. XRP has lost 14.43% in the last 24-hours. However, if it can level off sooner rather than later, the coin will still have gained overall this month. Let’s hope investors keep hodling.

Cryptos in Red: Stellar (XLM)

Stellar tends to follow closely behind Ripple trends. Today is no different. The coin is currently down 10.71% and appears to be losing more. It did grow exponentially last week keeping closely by Ripple’s side so can it pare any of these losses?

>> Cryptocurrency in India: Supreme Court to Hear Final Petitions Against the RBI Bitcoin Ban

Back in March, Stellar announced it would be implementing the Lightning protocol this December. According to the team, it is still on track for that deadline, and this news should excite investors. The Lightning protocol is deemed to be the best long-term solution for scalability on its network. Stellar wants to improve the user’s experience in terms of speed, throughput, and privacy/security.

It seems like crypto is playing a cruel trick sometimes. It seems inevitable that when cryptos go green, there will soon be cryptos in red.

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Ripple (XRP) Temporary Passes Ethereum (ETH)

Ripple (XRP) just passed Ethereum (ETH) this morning to take the second-largest cryptocurrency spot. Except, a few hours later Ethereum enthusiasts shot back and Ethereum re-gained its #2 spot.

Ripple (XRP) Comeback

XRP is among the group of worst performing cryptocurrencies this year, but it seems to be making a comeback. In the summer, it was down more than 90 percent from its high in January.

XRP and Ripple are often confused, and people intertwine them. Ripple Labs is a fintech company that focuses specifically on global payments and hold the majority of XRP. XRP is a cryptocurrency, independent of the company, that is used on Ripple’s platforms.

Recently, Ripple has made some big announcements regarding its products, and that has caused XRP to spike. On Monday, Sagar Sarbhai, head of regulatory relations for Asia-Pacific at Ripple, told CNBC that his company’s xRapid product should go live in the next month or so.

xRapid uses XRP as a bridge between currencies, which allows payment providers to process faster cross-border transactions.

“People are definitely buying the news,” Joe DiPasquale, CEO of BitBull, told CNBC. “This is another case of Ripple showing its dominance in real world relationships with financial companies, and yet another spike in XRP’s price because of it.”

>> Ripple Up 20% After xRapid News

It seems the xRapid news has continued to push XRP upwards, and Ripple passes Ethereum (but only temporarily).

Ethereum (ETH) Stagnant

Ethereum has held the second-largest cryptocurrency position for nearly ten months. Lately, ETH’s price has dropped, and there haven’t been any major developments on its on-going scalability issue.

Since there is no news on Ethereum today, it must mean that Ethereum enthusiasts wanted to push ETH up to its previous position. Ripple passes Ethereum, you say—not for long, they say!

XRP & ETH Movement

At press time, ETH is trading at $246.84 a coin, up 17.29%. XRP is trading at $0.575 a coin, up 50.23% in 24 hours.

Most cryptocurrencies in the top 20 are now seeing double-digital percentage gains on the market—closing out the work week on a high note.

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Ripple (XRP) | Up Nearly 20% After xRapid News Releases

Ripple (XRP) received a serious boost this morning after news broke that Ripple Labs’ xRapid project could debut in the next month, or so.

Ripple (XRP) and xRapid

Sagar Sarbhai, head of regulatory affairs at Ripple, spoke to CNBC yesterday and confirmed positive movement on its xRapid platform.

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production,” Sarbhai told CNBC.

Ripple is currently working with a few financial institutions to test its xRapid project, and it seems those pilots are going well. Western Union and MoneyGram are among some companies currently testing xRapid.

Ripple’s xRapid uses its XRP cryptocurrency as a bridge between currencies, allowing these payment providers a way to process faster cross-border transactions. Ripple’s website explains xRapid as this:

“xRapid is for payment providers and other financial institutions who want to minimize liquidity costs while improving their customer experience. Because payments into emerging markets often require pre-funded local currency accounts around the world, liquidity costs are high. xRapid dramatically lowers the capital requirements for liquidity.”

Ripple also offers its xCurrent platform, which does not use XRP, and many major banks and financial institutions have begun testing this platform. American Express and Santander are among the 120 banks and financial institutions currently testing xCurrent.

“A couple of years ago the narrative was: blockchain good, crypto bad,” Sarbhai told CNBC. “What we’re now seeing is more and more regulators, policymakers taking the whole space in one conjunction,” he said.

>> Is the Narrative of the Crypto Industry Changing? Ripple Exec. Says Yes

XRP Gets a Boost

XRP, the third-largest cryptocurrency by its total market cap, received a serious boost from the xRapid news. According to CoinMarketCap, XRP is currently trading at $0.328 a coin, up 19.15% in 24 hours.

Most of the cryptocurrency market is trading towards the green, as it seems XRP’s boost may be pulling the rest of the market up. XRP is currently leading the top 100 cryptocurrencies for most percentage gains today.

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