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Ripple: Bahrain and Abu Dhabi are front runners in developing crypto-regulations, claims Dilip Rao

Biraajmaan Tamuly

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Ripple: Bahrain and Abu Dhabi are front runners in developing crypto-regulations, claims Dilip Rao
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Ripple continued its strong performance in 2019 after the organization recently conducted its final Ripple Regionals event in Dubai. The event was attended by over 100 ripple users from across the world, with the community coming together to share their ideas and experiences based around RippleNet.

On a recent episode of the Ripple Drop, Reindhard Cate interviewed one of Ripple’s senior employees, Amy Hirth.

Amy Hirth, Senior Associate for Global Events, Ripple, explained that the current Ripple Regionals event was inspired by a previous event organized by Ripple. The idea of bringing together localized people from the Ripple community gained a lot of traction and made the sharing of significant practices in organizations very exciting, she stated.

She added,

“The regionals have been just an incredible opportunity to build momentum for what I like to call the big dog which is swell.  We are gonna see corners of the entire globe coming together in one place.”

Reinhard Cate also spoke to Dilip Rao, Global Head of Infrastructure Innovation, to discuss Ripple’s current scenario with centralized institutions like banks.

Dilip explained that Ripple was communicating with central banks around the world because centrals banks were regulators of their own financial ecosystems and operated their separate payment systems in their respective countries. In order to develop new technologies such as RippleNet within the system, it was essential to interact and act as an catalyst to bring out innovation.



Dilip Rao added,

“I am more interested in getting central banks to interact with DLT [Distributed Ledger Technology] and with crypto assets and that makes a big difference in adoption of these technologies here.”

Finally, he concluded by saying that Bahrain and Abu Dhabi global markets were leading the world in the development of regulatory frameworks for the adoption of virtual currencies, each essential to the future of the crypto ecosystem.





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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.

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XRP closes bullish week breaking 200-day MA; on the doorsteps of the Golden Cross

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XRP closes bullish week breaking 200-day MA; on the doorsteps of the Golden Cross
Source: Pixabay

On the back of the most successful week for XRP, the second largest altcoin in the market has broken, what could be equated to the first inkling of the Bitcoin [BTC] bull run. Following Coinbase’s greenlight to its New York customer to engage in XRP trading, the altcoin shattered its 200-day moving average.

Bitcoin, prior to the April 2 ascendance, which was trading at just over $4,000 and on the back of a slew of reasons, broke the $4,623 200-day moving average (at the time) creating an impetus for a prolonged pump. XRP, following the mammoth 41 percent price rise on 14-15 May, has mirrored the king coin’s rise.

The 200-day MA of XRP, which, at press time, stood at $0.352 was shattered at around 0300 UTC on 14 May, where the cryptocurrency saw a massive 25.59 percent daily gain. Continuing to ride the Coinbase bulls, the cryptocurrency added another 12.27 percent daily price rise the following day, ending its slumping streak which persisted for much of 2019.

Interestingly, the XRP price rise could not have come at a more opportunistic time. During the early days of May, when Bitcoin was breaking resistance after resistance, and anchoring an XRP-less altcoin rise, Ripple’s cryptocurrency was in a slump. In fact, the other digital asset that aims to attract an XRP-esque market, Stellar Lumens [XLM] was also in a slump prior to last week’s rise.

On a year-to-date analysis, the two cryptocurrencies jointly referred to as the “Bank Coins,” contrastingly declined by over 12 percent each, as other coins like Litecoin [LTC], Binance Coin [BNB] and even Bitcoin [BTC] saw triple-digit gains. To answer back to their crypto-contemporaries, XRP and XLM were, by far, the highest gainers during the aforementioned period, wiping clear their slumping trends.



Another key indicator for the Bitcoin price rally lasting almost two months now was the realization of the “Golden Cross.” On April 23, the king coin saw its 50-day MA cross-over its 200-day MA as the price rose above $5,350, confirming the coming of the BTC bears, which have since pushed Bitcoin’s price over $8,000.

XRP is on the verge of realizing its very own Golden Cross. Following its May 14 rise and the current green candle-stick, albeit with a major anchoring role played by Bitcoin’s ascendance, the 50-day MA for the altcoin has been broken. If the current trajectory continues, like BTC, XRP could see the 50-day surge above the 200-day and begin a major bullish swing, if Bitcoin’s prices are to go by.





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