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Ripple [XRP] passes rival Swift’s gpi as ‘marginal improvement’

Priyamvada Singh



Ripple [XRP] passes rival Swift's gpi as 'marginal improvement'
Source: Pixabay

Ripple, the leader in blockchain-backed remittance services showed no interest in its rival Swift’s improved global payments innovation [gpi] service and passed it as a mere marginal improvement based on an outdated architecture.

Swift is a non-blockchain remittance service and is used as a standard in the industry. Recently, Swift has managed to upgrade its transaction speed making it less than 30 minutes for 50% of the transactions and under 24 hours for almost all the transactions. The finance firm will also roll out its gpi to 10,000 banks listed on its global network, for cross-border remittance.

Emi Yoshikawa, Ripple’s Director of joint venture partnership, on June 27th claimed to have superior features in her FinTech firm and that Swift cannot reach up to Ripple’s near-real-time transaction settlements. Emi, at EmTech Hong Kong, also said:

“Swift was built 40 or 50 years ago before the internet was created. So their architecture is very old. They realize that this is a big problem and they consider us a big competitor. They’re also trying to make a big improvement based on the existing architecture, called Swift gpi. We consider it just a marginal improvement of their existing architecture.”

She further explained that the issue of transaction efficiency and speed can only be solved by changing the entire layer of the existing infrastructure. Through this, she implied the essentiality of the blockchain technology in the industry.

Currently, Ripple is just a marginal player in this industry but has boarded on partnerships with some of the top-tier banks for its fast-paced progress.

On the other hand, though not blockchain-based, Swift is well-aware of its functioning and capabilities. It conducted its own experiments with the technology during April 2017. However, the company was not convinced and confident of backing its services by blockchain, as it is still in its budding phase.

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.


Has XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?




Hash XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?
Source: Unsplash

Opinion: Bitcoin, the first cryptocurrency, has had over ten years to grow. However, other altcoins did not have the liberty, due to which Bitcoin exerts its dominance over almost all altcoins in the ecosystem, be it Ethereum, XRP, or Cardano. The price of altcoins generally tends to rise if Bitcoin’s price surges rapidly. The same can be said about the downtrend as well, which is why altcoins are said to be coupled with Bitcoin.

However, the recent buzz on crypto-twitter is that XRP is on the verge of decoupling from Bitcoin. A Twitter user @XRPMOONSHINE tweeted:


In a very general sense, the comparison of the price change of XRP and BTC gives a crude understanding of whether the prices have actually decoupled or not. Hence, the daily chart attached below shows the price of BTC and XRP against the US Dollar and extends from August 2018 to April 2019. The price of XRP seems to be following a lag from the price of BTC and do not necessarily mean that it has decoupled.

However, there are timeframes where the price of XRP has moved completely unrelated to that of Bitcoin. For example, the meteoric rise of XRP from September 18 to 22 was far higher than the price pump of BTC over the similar timeframe; but the drop of XRP from November 18 to December 16 was exactly the same as that of BTC’s.

Furthermore, XRPMOONSHINE suggested that XRP price was being manipulated. He tweeted:

“It is being manipulated to keep it from rising. For example look at XRP/BTC pair. Keeping it under the down sloping resistance from .80 in September. Thats what I mean by Suppressed, Although im expecting a fairly large move to the upside before 4/24/19.”

The “idea” of the price of XRP being manipulated is not unpopular within the XRP ecosystem as Peter Brandt, a famed trader, suggested the same in one of his tweets.

Brandt tweeted:


XRP may have started to decouple from Bitcoin, but it surely hasn’t decoupled completely. The notion that XRP is being manipulated to keep its price below certain levels can also not be confirmed without proof.

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