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Ripple’s XRP Payments Product Set for Imminent Launch in Brazil

Ripple’s global head of banking says the company will soon launch XRP-powered cross-border payments in Brazil. Marjan Delatinne joined a Future of Finance panel on Wednesday to discuss Ripple’s suite of digital payment products, including On-Demand Liquidity (ODL), which utilizes XRP. Delatinne says ODL is actively expanding. “We extend these services now to more and […]

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Ripple’s global head of banking says the company will soon launch XRP-powered cross-border payments in Brazil.

Marjan Delatinne joined a Future of Finance panel on Wednesday to discuss Ripple’s suite of digital payment products, including On-Demand Liquidity (ODL), which utilizes XRP.

Delatinne says ODL is actively expanding.

“We extend these services now to more and more corridors, typically exotic corridors with lots of challenges, like [the] Philippines [and] very soon within Brazil.” 

The Ripple official says the company thinks the Covid-19 pandemic “is pushing the agenda” of digitization.

Earlier this week, Asheesh Birla, Ripple’s senior vice president of product management and corporate development, also touched on Ripple’s 2020 expansion plans.

“Ripple is on track to open new ODL corridors this year and we’re onboarding new customers and working with existing customers to ramp up ODL volume in important corridors including USD-MXN, USD-PHP, AUD-USD and PHP, and from EUR-USD.”

ODL has already made some splashes in certain avenues of the institutional remittance industry, particularly along the US-Mexico corridor.

Besides Brazil, it remains unclear exactly which countries or corridors Ripple plans to target in the short term. But the payments firm noted in February that it is working on adding new corridors in Europe, the Middle East, Africa, Asia-Pacific and Latin America.

Ripple has warned, however, that ODL volume could look different in a world struggling with the pandemic.

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The post Ripple’s XRP Payments Product Set for Imminent Launch in Brazil appeared first on The Daily Hodl.

Source: https://dailyhodl.com/2020/06/12/ripples-xrp-payments-product-set-for-imminent-launch-in-brazil/

Blockchain

Charted: Ripple (XRP) is About to See “Liftoff” if it Clears $0.255

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Ripple is showing positive signs above the $0.2500 support against the US Dollar. XRP price could start a strong rally if it clears the $0.2550 resistance zone.

  • Ripple recovered nicely and climbed above the $0.2505 pivot level against the US dollar.
  • The price is now trading well above $0.2500 and the 100 simple moving average (4-hours).
  • There is a crucial declining channel forming with resistance near $0.2540 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could rally 8%-10% if it clears the key $0.2550 resistance in the near term.

Ripple Price Approaching Next Key Breakout

After a strong upward move in bitcoin, there was a fresh increase ripple from the $0.2440 support. XRP broke the $0.2480 and $0.2500 resistance levels to move into a positive zone.

The price even broke the 23.6% Fib retracement level of the recent decline from the $0.2639 high to $0.2439 low. XRP is now trading well above $0.2500 and the 100 simple moving average (4-hours). On the upside, it is facing a major hurdle near the $0.2540 and $0.2550 levels.

There is also a crucial declining channel forming with resistance near $0.2540 on the 4-hours chart of the XRP/USD pair. The channel resistance is close to the 50% Fib retracement level of the recent decline from the $0.2639 high to $0.2439 low.

Ripple (XRP)

Source: XRPUSD on TradingView.com

The pair could start if it clears the $0.2540 and $0.2550 resistance levels. The next major resistance is near the $0.2580 level. A clear break above $0.2580 could open the doors for a sharp increase above $0.2600.

The next major resistance for the bulls might be near the $0.2620, above which ripple could accelerate higher towards the $0.2700 level in the near term.

Key Breakdown Support for XRP

If ripple fails to clear the $0.2540 and $0.2550 resistance levels, there is a risk of a bearish breakdown. The first key support is near the $0.2500 level and the 100 simple moving average (4-hours).

The next major support is near a connecting bullish trend line on the same chart at $0.2460. A successful break below the trend line support could lead the price towards the $0.2400 level.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is likely to move into the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now struggling to settle above the 50 level.

Major Support Levels – $0.2500, $0.2460 and $0.2440.

Major Resistance Levels – $0.2540, $0.2550 and $0.2600.

Source: https://www.newsbtc.com/analysis/xrp/ripple-xrp-is-about-to-see-liftoff-0255/

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Blockchain

Only These Few Altcoins Have Managed to Keep up With Bitcoin

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Bitcoin prices have surged to equal the 2019 high of $13,850 as it leaves its crypto brethren in the digital dust. Only a few altcoins have managed to keep up, and they seem to be related to the PayPal announcement according to one analyst.

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There is one clear driver of crypto market momentum at the moment and that is the big daddy of all digital assets, Bitcoin. Adding 5% on the day, BTC prices surged to match their June 2019 high of $13,850 a few hours ago during Asian trading.

Once this psychological level has been broken, there is very little resistance all the way up to $17k, a price not seen since January 2018. One trader and analyst has been looking at other crypto assets to see if they have also been moving in tandem with their big brother.

Are Altcoins Keeping Up?

According to investor Luke Martin, the only three altcoins that have kept pace with Bitcoin have been Ethereum, Bitcoin Cash, and Litecoin. He also suggests that this is related to the PayPal announcement since these were the only three crypto assets listed aside from Bitcoin.

In truth, Bitcoin has eaten into the market share of all of the altcoins with its dominance increasing by 2.5% since the beginning of this week. BTC market share has reached its highest level for almost four months according to Tradingview.com as it tops 63% today.

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Ethereum has made a marginal gain to top $400 again but has failed to remain there but Bitcoin siblings BCH and LTC have performed well recently.

Since the PayPal news broke on October 21, Bitcoin Cash has gained 10% and Litecoin has made almost 20% which does lend itself to the theory that it has had some influence on these altcoins. Ethereum has only made 5% over the same period which negates the premise for that particular asset, however.

A few other altcoins have made progress over the past seven days and they include Compound, Chainlink, Polkadot, Celcius, and Monero, but many of them are recovering from heavy losses whereas Bitcoin has just kept climbing.

Market Cap Update

The big move today has pushed total crypto market capitalization over $400 billion for the first time since April 2018 according to Tradingview.com.

crypto market cap
Chart – tradingview.com

This area is also proving to be a strong resistance zone for the entire market as it was where they bounced to after the big fall in 2018, and where they peaked in 2019.


To keep track of DeFi updates in real time, check out our DeFi news feed Here.

Author: Martin Young




Martin has been writing on cyber security and infotech for two decades. He has previous forex trading experience and has been covering the blockchain and crypto industry since 2017.

Source: https://coingape.com/only-these-few-altcoins-have-managed-to-keep-up-with-bitcoin/

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Blockchain

ConsenSys: DeFi high yields might affect Ethereum 2.0 staking

ConsenSys suggests in a publication that DeFi high yield opportunities might affect Ethereum 2.0 staking. Eth2 Phase 0 is expected to launch later this year. Many people believe that decentralized finance (DeFi) is actually a good development on the Ethereum, as the boom in the market increased adoption and activities in the network. The Ethereum […]

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  • ConsenSys suggests in a publication that DeFi high yield opportunities might affect Ethereum 2.0 staking.
  • Eth2 Phase 0 is expected to launch later this year.

Many people believe that decentralized finance (DeFi) is actually a good development on the Ethereum, as the boom in the market increased adoption and activities in the network. The Ethereum cryptocurrency, ETH, also gained huge points as a result. However, ConsenSys, a New York-based blockchain company, explained in a recent publication that decentralized finance might be a threat to the upcoming Ethereum 2.0 staking.

ConsenSys sees high yielding protocols as a threat to Eth2 staking

Notably, the development of a high yielding platform in the decentralized finance market provided Ethereum users with another viable option to earn high rewards from their ETH holdings. These protocols flaunted substantial returns, which attracted the attention of most crypto investors and traders. Following the promise of massive returns, the blockchain company says Ethereum investors might prefer to stake their cryptos in DeFi than for the upcoming Ethereum 2.0 staking event.

According to the ConsenSys Q3 DeFi Report, the staking is slated to begin after the Ethereum 2.0 Phase 0 is released. Hopefully, this particular Phase in Eth2 development is expected to be launched later this year. Although it won’t introduce any scaling improvements to the Ethereum network at the time, the blockchain company rather noted that it enabled the staking functionality for the network.

Ethereum 2.0 staking

So, Ether holders will be able to stake their cryptocurrencies (a minimum of 32 ETH) once the Phase 0 is released. Although the staking of ETH comes with a reward, the investors won’t be able to withdraw the staked cryptocurrencies, at least until the next Phase with the transfer function is launched. This Phase is scheduled for launch by next year.

Judging by this, decentralized finance participants might rather prefer to lock their ETH holdings in the high yielding protocols rather than in Eth2. The number one reason can be related to the profitability of both platforms. As DeFi offers high returns, many people would probably flock to it. Besides, the DeFi participants still maintain their ownership of cryptos and can withdraw them anytime. However, staked ETHs on Ethereum 2.0 are locked away for months and can’t be withdrawn until the next Phase (s) is launched.

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