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XRP accepted at 4,500 worldwide online stores as CoinGate enables XRP payment option

Namrata Shukla

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XRP accepted at 4,500 worldwide online stores as CoinGate enables XRP payment option
Source: Pixabay

CoinGate, a cryptocurrency payment processor just launched support for XRP to customers, which will enable the users to pay in XRP to various vendors across the net. CoinGate took to Twitter to announce about the big news and tweeted:

“Big news for #XRPcommunity and our merchants alike! We launched native $XRP support to our customers, meaning #XRP is now accepted as payment at thousands of vendors across the Net. Proceed to our blog for more detailed information!”

This move will bring the digital asset to more than 4,500 online stores. The payment processor uses an open-source, e-commerce platform PrestaShop to get in touch with thousands of digital stores in the EU, as per DailyHodl. The payment processor also supports other cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], Stellar Lumens [XLM], Litecoin [LTC] and Tron [TRX].

The CoinGate team said that while they did study the technology behind the coin, the decision to add support for XRP was made acknowledging the high demand for the toke in the XRP community.



“We are thrilled to let you know that we are adding yet another payment option for our merchants, and this time it’s a big one! Due to very popular demand by the community, our next cryptocurrency on the list – XRP! As a result, XRP coin owners can now use it as a means of payment at more than 4,500 shops online! Whether you want to purchase a VPN, video game or anything else, you are more than welcome to do that!”

The team also said that they have faith in Ripple and the advanced blockchain technology they develop. The payment processor also noted that despite the claims of being highly centralized, Ripple is carrying out a decentralization strategy in which they stimulate the admission of third-party validators, removing one proprietary node for every two new decentralized nodes.

In the meantime, the publication said that Ripple is aiming to hire developers who can help its customer base integrate the company’s suite of payment solutions such as xCurrent and the XRP powered xRapid.





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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

XRP

XRP shorts overtake XRP longs as USD shorts increase 85 percent on April 17

Akash Anand

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XRP shorts overtake XRP longs as USD shorts increase 85 percent on April 17
Source: Pixabay

The cryptocurrency market’s volatile behavior was reflected in the ‘buy-in and sell’ sentiments. Despite the bear market taking over again, analysis of the market shows that there are some silver linings. XRP, the third largest cryptocurrency in the market, has not had a fantastic start to 2019 and this was even shown during the recent bullish spike.

XRP was one of the worst performers among the top 10 club at a time when some of the other currencies saw double-digit gains and Bitcoin [BTC] broke the $5000 barrier. New analysis, though, points to the fact that there has been a significant rise in XRPUSD longs on Bitfinex, some even registering record gains. Reports from BehindtheLedger stated that:



“Some are discussing record high XRPUSD longs on Bitfinex. It’s good to look at the ratio of shorts to longs (or vice versa if you prefer) rather than just the longs though. Doing so reveals that shorts have increased more than longs in the past few days.”

At a time when the XRP shorts are on a high, the USD shorts were up by a massive 85 percent on April 17. The analysis from behindtheledger also admitted:

“This isn’t a price prediction and frankly, this indicator probably isn’t reliable

But it’s always good to look at both sides of the equation.”

XRP’s trade has been majorly influenced by developments in its realm with the last major claim coming from Coincheck as the organization provided over-the-counter trading support for Ethereum and XRP on its platform. The exchange had announced:

“ETH XRP has been added to the target currency for large OTC transactions! We are pleased to announce that ETH and XRP have been newly added as target currencies at the Large OTC Trading Service, which has started on April 1, 2019.”





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