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Ripple/XRP: R3 and ING get into a partnership for large scale Corda Enterprise adoption

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Ripple/XRP: R3 and ING get into a partnership for large scale Corda Enterprise adoption
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R3 has finalized a partnership with ING bank which will open ING to an unlimited number of licenses for R3’s commercial blockchain platform, Corda Enterprise.

The partnership deal between R3 and ING is for a span of five years which encourages adoption of CorDapps across a wide range of business functions.

Annerie Vreugdenhil, Head of Innovation for wholesale banking at ING, said:

“Our longstanding joint journey with R3 has proven that this is the most mature enterprise DLT solution to serve the needs of the financial service industry… We are one step closer to deploying live DLT solutions for our clients with the supported infrastructure in place.”

The CEO of R3, David E. Rutter said that ING bank has been a valuable and long-term partner of R3’s and that they have been an enthusiastic adopter of the blockchain. He said:

“As ING takes full advantage of access to Corda Enterprise, we look forward to seeing how the diverse CorDapp ecosystem can deliver gains in productivity, efficiency and profitability across the bank’s diverse business areas.”

R3 is an enterprise blockchain software firm with over 300 partnerships in both private and public sectors which are spread all across the world in multiple sectors like the finance, identity, insurance, and capital markets.

Moreover, R3 recently launched the “Corda Network” on January 16, 2019, which would be managed by a not-for-profit foundation, “Corda Network Foundation”. The foundation will operate independently of R3 and its decision making will be transparent and available to all networks.



Corda Network allows settlement of funds and transfer of data between communities of nodes which could be a collection of business networks and/or private networks which can be done via the CorDapps.

Furthermore, Corda Settler can settle payment obligations arising on Corda with XRP, which is integrated with the Corda settler. Moreover, Corda Enterprise offers additional features targeted at the needs of large and complex organizations, such as the world’s only Blockchain Application Firewall, 24/7 support, dedicated product management and support for industry-standard enterprise databases.





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

XRP

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

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

“DO ME A FAVOR OPEN UP A BTC/USD CHART AND AN XRP/USD CHART. THEY HAVE DECOUPLED AND ARE MOVING DIFFERENTLY.”

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:



Conclusion

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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