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The curious case of unchanging Ripple [XRP] prices despite several partnerships!

Neil Kumar



Ripple emerging faster than ever in global markets
Source: Pixabay

Ripple [XRP], ranked 3rd according to the coinmarketcap is currently trading at $0.90 to a token seeing a -4.34% drop against the dollar much like every other token in the market.

Ripple has been making news with its new alliances, projects, and partnerships but the recent interview AMBCrypto conducted with certain amateur investors reveal mixed views.

Ripple in South Korean Banks:

South Korean Woori Bank made an announcement earlier that their objective is to introduce ‘commercialized international remittance’ using Ripple’s blockchain technology.

The decision was made after the announcement of Japanese Banks’ implementation of Ripple’s technology. Out of the 47 Japanese banks, 27 were a part of a ‘remittance test’.

The results of the ‘remittance test’ was positive and this gave a heads up to the South Korean banks to apply the same to their systems.

Woori made an official comment:

“Several banks, such as two or three megabanks and Internet professional banks, are pushing to introduce the practice”

Woori also announced that the system will be put to place in 2019. Shinhan, South Korea’s second-largest bank is also on board with this implementation.

Ripple in Zip Remit:

Zip Remit is an online money transfer solution facilitator, originally from Canada. With Ripple’s initiation of xRapid, which is a highly commended liquidity solution using XRP digital assets, Zep Remit infused the system into their own.

They made an announcement on Twitter:

“Using  #xrp from @Ripple is revolutionizing the way our entire business operates. For years our team parked huge amounts of capital globally to deliver the services our clients expected. Now we can move money like information, that’s game changing.”

The community seemed equally thrilled about the same. Twitter user Alton Smith comments:

“Looks like another satisfied XRP user. We are seeing the banking industry transforming right before our eyes!”

Fleetcor, another commercial payment solution platform have also begun their pilot for implementing xRapid using XRP technology.

Ripple, in the past month, has tied up with many international financial institutions including Itaú Unibanco from Brazil, IndusInd from India, InstaReM from Singapore and Beetech from Brazil.

The robust platform that Ripple has built, focusing to bring global solutions to financial institutions faster and cheaper has made Ripple’s progress unstoppable.

Twitter user hodor7777 says:

“It’s time. #XRP going to take over #1 in 2018. Hyperbole?”

Ravi Patel, a Banking Advisor at SBI spoke to AMBCrypto and says,

“The bank only cares about faster, easier, cheap transactions and right now Ripple’s technology works. XRP token Ripple followers all around Twitter promise the moon but everytime a ‘partnership’ story comes out, XRP falls by 3-4%.”

Jose Martinez, a crypto speaker and Technology fanatic says,

“Ripple, in terms of partnerships outperforms everyone by 1:10, the real answer to why XRP is dropping is because of the current market scenario. We are still a Bitcoin dependant market, once we break key resistance at 12K, 14K and 17K we should see all altcoins that has had serious developments in the past few months to historic new highs. XRP definitely a candidate”

Ryan Adabadze, Head of Operations at GR Block Consultants says,

“In a decentralized world, there is no place for Ripple. Bitcoin’s DNA has no room for tokens like XRP.”

Paul Edwards, a cryptocurrency investor from Wales says,

“Lowest XRP levels are here. Invest and HODL. Don’t understand the technology, who cares, here to make 50 quid to a meaty 1000”

Pete Torodes, a blockchain developer from Capetown says,

“This is no rocket science, everything depends on Bitcoin. Analysts close to me believe that April and May are going to be exciting times for the crypto market. If that’s true, Ripple, Tron and Stellar are the three coins that have potential to go 5-6x, they have hardworking teams”

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Neil Kumar has been working as a full-time reporter for AMBCrypto from January 2018. He has eight years of experience in day trading markets and a three year experience working for a blockchain company. Neil writes about blockchain and technology is a strong advocate of privacy. He had a few Litecoins and Ripple tokens months before joining AMBCrypto; he currently does not have any value in cryptocurrencies or projects.

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XRP TipBot comes back online after a tiny downtime; Nothing to be worried about, says Wietse Wind




XRP TipBot goes online after a tiny downtime
Source: Unsplash

XRP TipBot’s website and the corresponding application suffered a downtime on June 23, 2019 for a few hours, during which the application wasn’t showing the balance of users. The website and the API for TipBot instead, displayed a “500 Internal Error.”

A Twitter user, @BlueNETGaming, tweeted Wietse Wind, inquiring the same. Wind confirmed that it was just an “infrastructure blip,” and that there was nothing to be worried about.

Wind tweeted,

XRP TipBot is probably the first and most widely accepted use-case of XRP. It leverages the transaction settling time of XRP Ledger to make tipping easy among peers on Twitter, Reddit, and other platforms, and this was the brainchild of developer Wietse Wind.

After TipBot, a lot of other cryptocurrencies have tried to mimic this idea of facilitating tipping; an example being Bitcoin’s, Tippin.Me which leveraged Lightning Network for tipping users. Although successful, it isn’t as popular as Wind’s TipBot.

The reason behind the same is that XRP Ledger allows transaction settlement in under 5 seconds, which makes tipping fast and efficient, unlike Bitcoin’s transactions which take a few minutes for transactions to be confirmed.

This is same reason why XRP is being used as a liquidity provider for cross-border payments in Ripple’s proprietary product, xRapid.

XRP community is a tightly-knit community with people who are very bullish about XRP’s success. There are equally talented developers in the community who are developing apps that help create more use-cases for XRP.

SchlaubiDev is one such developer known for developing plugins for Gmail and Microsoft Office, plugins that allow a user to send XRP over e-mails.

Ripple has identified Wind and his team’s talent and inducted them into Xpring, which finances them to help develop more community-based apps for increasing XRP use-cases.

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