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Ripple’s xCurrent, xVia and XRP-powered xRapid come into focus as TAS Group and ECB gear up for TIPS launch

Anirudh VK

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Ripple's xCurrent, xVia and XRP-powered xRapid come into focus as TAS Group and ECB gear up for TIPS launch
Source: Unsplash

Opinion: The European Central Bank [ECB] recently announced that they would be launching a system for faster payments in the Eurozone. This system is known as Target Instant Payments System, and aims to offer a settlement of instant payments in Euro, with users being able to access it any time of day and any day of the year. At first glance, this might be the beginning of the end for the actual use-case of crypto-assets. However, one digital asset may as well benefit more from this move than many may think.

The system requires payment service providers to set aside a portion of liquidity in their respective central bank, which will then act as a way to settle instant payments. The system also promises no minimum wait during the process, and transaction settlement across the clock. This is all done with an end-to-end processing time of 10 seconds or less, with measures put in place to ensure that the system can be scaled effectively to meet the needs of the users. It also gives businesses another product to sell their consumers on, as instant payments are slowly becoming the new norm.

Benoît Cœuré, a member of the Executive Board of the ECB, said in a speech earlier this year:

“Indeed, in the euro area, where different legal frameworks and customer habits prevail, there is always a risk of new fragmentation arising from the development of national or closed-loop solutions which are not interoperable. To counter this risk, the European payments industry is now launching a truly pan-European instant payments scheme.”

The launch of this platform looks like the dragon has finally defended its stash of gold from the decentralized knight in shining armor, that is cryptocurrencies. With central banks effectively dismissing them as a way to conduct cross-border transactions, the technology seems to be dead in the dirt as vultures pick at its remains to adopt blockchain into their various ventures.

However, this is not necessarily true as Ripple, the FinTech company aspiring to solve the cross-border payments ecosystem, seems to have ensured its place in the future of evolving payments. They have achieved this through two main moves, with the primary being their partnership with TAS Group.

TAS Group is a company which focuses on business innovation in the financial sector, and have released a bevy of software for use with banks. They aim to deliver “electronic money, payment systems, capital markets and extended enterprise” solutions to payment providers, with one of their products being the latest version of the Bank Liquidity Management platform. This reportedly allows for the forecasting of the liquidity situations for the banks that have implemented the system.

Source: TAS Group

Source: TAS Group

 

Most interestingly, it offers maximum interoperability with the newly announced TIPS payment standard, and is aimed at allowing for a seamless transition between existing systems. TAS Group has been in a partnership with Ripple for about 3 years at this point, with a document released in 2015 detailing the benefits of Ripple over existing Real-time Gross Settlement [RTGS] systems.

The launch of TIPS is scheduled to be around the end of this month, with TAS Group poised to take control of the emerging market. Those who are up-to-date with Ripple’s developments may also know that the company promises added interoperability between their widely adopted xCurrent product and their XRP-powered xRapid product.

There was also a document released by Fidelity National Information Services [FIS] that reveals the second method used by Ripple in order to continue being a market leader in frictionless payments. This is through the implementation of an open API for integration onto Ripple’s networks, a technology that is touted as being the future by FIS in their report.



Source: FIS

Source: FIS

 

As seen by their infographic, Ripple’s third product, xVia, ticks many of the boxes required to be a disruptive force in the API space as well. This was also touched upon by Benoît Cœuré in his speech, where he stated:

“Cross-border interoperability is just one area where progress can be made. Extending access to our RTGS system to regulated non-bank payment service providers is another avenue that promises to make our current systems fit for the future.”

This proves to make a strong case for systems like Ripple’s to take over the market for cross-border payments. The short-term flow of capital through Ripple’s networks might also result in liquidity being sourced from xRapid partners operating in the Eurozone. The effect of the launch is now awaited with bated breath.





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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

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?
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:

“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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