Tag Archives: ripple

Rippled Versions 150 amp 160-b1 Live as XRP Ledger Executes 20k Ledgers a Day

Rippled Versions 1.5.0 & 1.6.0-b1 Live as XRP Ledger Executes 20k Ledgers a Day

Rippled Versions 1.5.0 and 1.6.0-b1 Goes Live

Aside from the graduating graph of XRP price in the market,

the use case the technology offers is disrupting the fintech industry as multiple of national and international transactions are being executed on the network of Ripple blockchain technology. Ripple’s ODL is clinching new highs every day despite the dreadful situation of the world, signaling its adoption around the globe. Similarly, XRP Ledger continues to settle huge transactions on a daily basis, with two new upgrades released. As reported by Ripple’s head of Global Operations and Partnership, Emi Yoshikawa, XRP Ledger continues to work efficiently every day. The Ripple official, while reporting the latest network upgrades, said XRP Ledger settles about 20 thousand ledgers (transactions) in a day. “Even in this kind of environment, XRP Ledger continues to work hard every day, settling about 20k ledgers a day, and keeps evolving through a version upgrade,” Emi said.

Rippled Versions 1.5.0 and 1.6.0-b1 Go Live

Ripple-based XRP Ledger has opted for an upgraded version to better the services it offers to users. Thanks to developers of the network, XRP Ledger today announced the launched a new upgraded version of its protocol. As reported by the commercial arm of Ripple, Xpring, rippled versions 1.5.0 and 1.6.0-b1 are now available with new features and improvements. The Rippled version 1.5.0 was launched last week and it comes with new features like support for gRPC API, API versioning. Also, the new version 1.5.0 helps fix some minor bugs as well as improving package building and protocol-level handshaking protocol.

“UNL propagation via the peer network, new RPC methods (validator_info and manifest), augmented submit method, improved tx method, improved CLI parsing,” Xpring listed other new features of version 1.5.0. Version 1.6.0-b1, went live this week in its beta version. The XRP Ledger Devnet has also been upgraded to let developers access the new version. Xpring added that the rippled version 1.5.0 would be deployed on the XRP Ledger Testnet on Wednesday, April 15. This will let developers test run their application with faux XRP. Afterward, the Xpring team’s XRP Ledger Mainnet would be updated to the rippled version 1.5.0.

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Khalid Lawal

https://newslogical.com/rippled-versions-1-5-0-1-6-0-b1-goes-live-as-xrp-ledger-executes-20k-ledgers-a-day/

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Class-Action Lawsuit Threatens Ripple’s Established Market

Class-Action Lawsuit Threatens Ripple’s Established Market

Ripple will have to defend itself in a long-running class-action lawsuit over claims it violated securities laws

in selling unregistered securities. In the lawsuit, XRP buyers allege that they lost a substantial amount of money on relying on fraudulent promotional statements issued by Ripple that encouraged them to sell their XRP Tokens.

Court Ruling

The class-action lawsuit takes Ripple into a task for selling unregistered securities in total disregard of security laws in the US. A US District Court has since ruled that the class-action lawsuit can proceed, be it with some caveats. The class-action lawsuit will now cover claims filed under the federal law while sidelining all claims filed under the California state law. While the ruling relieves Ripple of some pressure, affected XRP investors can still file new claims under California laws within the next 28 days. The court, in its verdict, dismissed Ripple’s argument that the lawsuit was not timely and thus should be thrown out.

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The class-action lawsuit was filed five years after XRP hit the markets. Ripple, in its arguments, insists that if the lawsuit is allowed to proceed, it could destroy the XRP market share in the global cryptocurrency space.

Ripple Concerns

The lawsuit threatens Ripple’s continued operations in the multi-billion industry. For instance, there are concerns that regulators could end up concluding that the cryptocurrency is an unregistered security and so should not trade on the capital markets.

Polkadot Targets Onboarding Ethereum Ecosystem with Chainlink Oracles

To date, the US Securities and Exchange Commission has yet to take a stand on what cryptocurrencies are, let alone XRP. The Ripple class-action lawsuit is in its second year, a number of complaints having been consolidated and moved from state courts into the federal court. Ripple’s price has already taken a hit on the market, tanking by more than 8.2% as the class-action lawsuit continues to threaten its future in the market. Growing concerns that the lawsuit could threaten XRP’s share in the $500 billion markets is the latest tailwind taking a toll on altcoin market sentiments.

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Ankit Singhania

Based in India, Ankit is a financial content writer and stock market analyst. He has worked for almost a decade on several financial projects related to the stock market news, fundamental research and technical analysis for several websites. He obtained his Masters Degree In finance (MS – finance) from ICFAI. Currently, he serves as a financial consultant and technical analyst at Tradersinsights.

https://cryptocurrencynews.com/class-action-lawsuit-ripple-market/

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Ripple Expands South American Presence With Brazillian Partnership

Ripple Expands South American Presence With Brazillian Partnership

Ripple, the company behind the third-largest cryptocurrency XRP, will be reportedly expanding its presence in Brazil. Just months after it launched new operations in the country, Ripple is expected to announce new partnerships with other major institutions, such as digital banks.

Ripple Expands Brazilian Influence

Ripple is planning to expand its presence in Brazil with new significant partnerships next year, according to a recent report. It states that after signing previous deals with large banks in the country such as Santander, Bradesco, and Rendimento, Ripple wants to start utilizing XRP for remittance payments. Luiz Antonio Sacco, the company’s managing director in Brazil, spoke about the country’s potential for substantial growth in the next few years:“With successive advances in Brazilian banking regulation to facilitate financial transactions, including international, opportunities here will grow greatly in the coming years.”

Earlier this year, Ripple launched operations in Brazil intending to expand further not only in the country but in the whole South American region. At that point, Sacco noted that Brazil is among the leads in fin-tech innovations, and RippleNet’s introduction would allow for “excellent, efficient cross-border payment experiences for their customers.”

Ripple’s Recent Evolvement

The South American expansion is just a part of Ripple’s improvements and news from this year. Back in June, the company made a major announcement for a strategic partnership with money transfer giant – MoneyGram. When it comes down to foreign exchange settlement using digital assets and cross-border payments, Ripple will be a key partner for MoneyGram according to the initial two-year agreement. Furthermore, the blockchain-based company will provide a $50 million capital commitment in exchange for equity within this period.

More recently, Ripple managed to secure a $200 million Serious C funding investment in a round led by large investment companies, such as Tetragon, SBI Holdings, and Route 66 Ventures. The company said that the money will be used to broaden further the utility of its cryptocurrency, XRP, and for improving the blockchain technology – the XRP ledger. Speaking of XRP, despite the positive news from the company behind it, its price appears to be on a declining trend. After reaching the yearly high of over $0.50 back in June, XRP is mostly on the downturn and is currently trading at $0.193, which is a 65% drop in several months.

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Jordan Lyanchev

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain.

https://cryptopotato.com/ripple-expands-south-american-presence-with-brazillian-partnership/

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Ripple Raises 200 Million in Funding Round Valuing It at 10 Billion

Ripple Raises $200 Million in Funding Round Valuing It at $10 Billion

Ripple, the company that helped created the XRP token,

has revealed it raised $200 million in a Series C funding round that valued the firm at $10 billion. According to Ripple’s announcement, the funding round was led by New York investment company Tetragon, and saw Japan’s SBI Holdings and Virginia-based venture capital firm Route 66 Venture participate in the round. The company, which was founded in 2012, added that the investors “not only underscore Ripple’s long-term potential,” but will also offer “invaluable industry insight and expertise” as its partners to help Ripple’s business grow.

Its CEO Brad Garlinghouse was quoted as saying:

We are in a strong financial position to execute against our vision. As others in the blockchain space have slowed their growth or even shut down, we have accelerated our momentum and industry leadership throughout 2019.

Ripple uses the XRP token to facilitate cross-border transactions for financial institutions, and has created a blockchain-based interbank messaging system. A significant portion of its income comes from selling its XRP holdings, which some of the cryptocurrency’s investors have criticized, to the point Garglinhouse had to defend the practice.

The firm’s revenue also comes from deals with banks and other financial institutions that use its technology, and says it has over 300 financial services customers throughout the world. One of them, SendFriend, has revealed it’s seeing massive savings in remittance fees through the use of XRP thanks to Ripple’s product powered by the token called “On-Demand Liquidity” (ODL). Ripple also has partnership deals with industry giants, which include Santander and American Express. It has invested millions into MoneyGram, one of the world’s largest money transfer companies, to help it continue increasing the volume and use of ODL.

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Francisco Memoria

Francisco is a cryptocurrency writer who's in love with technology and focuses on helping people see the value digital currencies have. His work has been published in numerous reputable industry publications. Francisco holds various cryptocurrencies

https://www.cryptoglobe.com/latest/2019/12/ripple-raises-200-million-in-funding-round-valuing-it-at-10-billion/

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MoneyGram CEO Says 100 Million in Total Volume Pushed Through Ripple and XRP

MoneyGram CEO Says $100 Million in Total Volume Pushed Through Ripple and XRP

                                

MoneyGram CEO Alexander Holmes says the payments giant has now sent $100 million in total volume through Ripple’s XRP-based payment solution, ODL.

Holmes revealed the million-dollar milestone in part two of an interview with CNN. “We went live with Ripple at the end of July. Since then, on a cumulative basis, we just the other day surpassed $100 million in total volume that we’ve pushed through the platform.” According to Holmes, MoneyGram plans to expand its use of the liquidity solution. But there’s a catch. In order to expand the platform and introduce new corridors, Holmes says Ripple will have to bring new clients on board and boost the volume to ensure that there’s actually enough liquidity.

“What’s interesting about what Ripple is trying to do is they really are trying to take on some of the older processes, traditional bank transfers and traditional Swift transfers in terms of how companies move dollars through banks or however that may be. So what’s happening right now is these markets have to be built… But like any efficient market, you need a buyer and a seller. So if we’re buying and selling, we need others out there as well buying and selling on the back end.

Holmes says MoneyGram is still experimenting with the technology, which uses XRP as a bridge between fiat currencies. “We’re doing things with Mexican peso, Filipino peso, Australian dollar. But it’s still very small. And so the impact today isn’t where I think it will be in five to ten years from now. But where it is today is actually enabling us to think about how we can do this more innovatively, how we can actually drive improvement and what it should and could look like in the coming days and months.

It’s very, very new. So this is nascent technology. We’re learning a lot as we roll this out and really in some respects, it’s changing and innovating as we move along. It’s new. It’s very different. But it’s certainly providing a lot of the tangible results that we want to see as we drive it forward.” Ripple and MoneyGram partnered back in June, and Ripple recently completed its commitment to buy a $50-million stake in the company.

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Daily Hodl Staff

https://dailyhodl.com/2019/12/19/moneygram-ceo-says-100-million-in-total-volume-pushed-through-ripple-and-xrp/

Thomas ClaimCo.in

Top Vietnamese Bank in Partnership With RippleNet

Top Vietnamese Bank in Partnership With RippleNet

Vietnamese bank TPBank has confirmed its partnership with RippleNet.

Lately, Ripple has been making major steps to improve the global financial infrastructure, as evidenced by its collaboration with Asia-based SBI Holdings, which resulted in SBI Ripple Asia—a branch of SBI Holdings.RippleNet focuses on faster transactions using DLT and the technology could be finding its way into Vietnam if the recent reports are anything to go by. As earlier reported by MSN News, RippleNet is already in association with the Vietnam-based TP Bank, which is currently utilizing its blockchain technology.

Enhancing Cross-border Transactions

TP Bank had previously stated its collaboration with SBI Holdings in order to use blockchain technology to enhance cross-border payments. In an interview with Vietnam Insider, TP Bank CEO Nguyen Hung said: “TP Bank is also working with SBI on applying blockchain to international transactions. With its flexible, transparent, and decentralized nature, blockchain has the potential to greatly improve transaction networks and ensure instant transactions despite geographical distance.”

SBI Ripple Asia serves a conglomeration of Asian banks using the technology to facilitate improved financial infrastructure. RippleNet comes handy as it provides a globally accepted payment network that utilizes XRP. In Vietnam, TP Bank was the first bank to successfully apply for national money transfers. With the Ripple partnership, TP Bank could become the first bank in Vietnam to conduct faster payments through RippleNet.

Vietnamese Bank Targeting Japanese Customers

Cross-border transactions in Vietnam are mainly aimed at Japanese clients. However, based on the reports, the service will be extended to South Korea after Japan. If the country chooses to use ODL, that would mean another milestone for XRP adoption. According to the latest performance and strategy report delivered by SBI Holdings, the institution showed a keen interest in using XRP to facilitate remittances from Japan to South-East Asia. In the new partnership, SBI Remit will utilize Ripple’s On-Demand Liquidity service, a step that will make XRP inch closer to its adoption and utilization. In its effort to eliminate pre-funding in the current correspondent banking network, Ripple believes that XRP provides the best solution for faster cross-border payments.

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Tony P.

Tony is a writer and a crypto enthusiast. A graduate of creative writing, he synthesizes blockchain and cryptocurrency topics in a way he only can.

https://theccpress.com/top-vietnamese-bank-in-partnership-with-ripplenet/

Thomas ClaimCo.in

Ripple Explains FUDs Decrease in XRP Sales in Q3 Report

Ripple Explains FUDs, Decrease in XRP Sales in Q3 Report

                                   

Ripple Inc. has released its Q3 report, a move geared towards increasing the transparency of XRP ecosystem.

When the digital currency was launched in 2012, nothing more than 100 billion units of XRP was created, but “Ripple was gifted a portion of this XRP,” out of which it sells out to enlarge the XRP ecosystem by investing in ideas capable of reshaping the Ripple ecosystem. In the released report, Ripple stated that it decreased the sales of XRP by 74.5% compared to Q2 sales. This quarter, Ripple sold $66.24 million worth of XRP compared to $251.51 million it sold in Q2. During the last quarter, 3 billion XRP were released out of escrow and 2.30 billion XRP returned back. For now, Ripple is now available on over 140 exchanges worldwide, the report indicated.

During the quarter, Ripple’s investment arm Xpring launched developer platform to strengthen the relationship between developers and entrepreneurs and give them the advantage to build on the XRP Ledger while making use of XRP token. The developer platform is open-sourced and can accommodate the 23 million developers across the globe by giving them the chance to enable payments in any of their innovation. As well, Ripple invested in Logos, Coinme, BRD, and XRP-centric Coil partnered Mozilla and Creative Commons to launch Grant for the Web. Also in Q3, Bitpay and Xpring deals were sealed, and the formal is now supporting XRP, bringing the digital currency to its thousands of customers worldwide.

FUDs Everywhere.

Ripple tagged those making FUDs about XRP are only spreading misinformation purposely to undermine the nascent and innovative idea. It said bot accounts on Twitter are now more active at condemning Ripple’s XRP, and more unique bots are being created every time to do the same. Conversation about Ripple “dumping XRP” and “flooding the market” from bot accounts, increased by 179% quarter over quarter. While Ripple claimed it cannot manipulate the price of XRP, the company pointed that there is no difference between what is obtained in BTC, Ethereum community and XRP community. The same way large holders exist in many crypto community is the same way it

exist in XRP ecosystem.

“We do not see evidence that large holders of XRP are behaving materially differently than BTC or ETH ‘whales’.”

The company pointed that around 49% of conversation alleging Ripple of being involved in XRP price manipulations came from bot accounts.

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Olayode Yusuff

Olayode has made meaningful contributions to Huffington Post, Thrive Global, Oracle Times, The Independent Republic, Forbes, Washinghton Post and a host of other news magazine. He’s a blockchain enthusiast covering news on notable cryptocurrencies and seminars from far and within.

https://newslogical.com/ripple-explains-fuds-decrease-in-xrp-sales-in-q3-report/

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Ripple CEO Brad Garlinghouse: Transparency Is Ripple’s Uniqueness Makes the Firm Appealing to Governments and Banks

Ripple CEO Brad Garlinghouse: Transparency Is Ripple’s Uniqueness; Makes the Firm Appealing to Governments and Banks

                                 Ripple CEO Brad Garlinghouse_ Transparency Is Ripple's Uniqueness; Makes the Firm Appealing to Governments and Banks

From its birth in 2012 to the multiple lawsuits, Ripple (and XRP) has experienced its fair share of ups and downs.

XRP has constantly been plagued by spectacular price crashes and questions about its possible manipulation by Ripple. Thankfully, the crypto industry is no longer defined by stunning high price and speculation, but rather by genuine projects with substance. Ripple, the San Francisco-based startup best-known for strongly promoting its native cryptocurrency, XRP, and funding its bank-friendly technology with billions of dollars is driven by its vision of finding real-life use cases for XRP. Garlinghouse attributes the success achieved so far to the company’s transparent framework in his recent podcast interview with bitcoin maximalist Anthony Pompliano. 

Ripple: A Paragon Of Transparency

Ripple CEO, Brad Garlinghouse, was a guest in a recent episode of Anthony Pompliano’s Off the Chain. According to Garlinghouse, the cryptocurrency ecosystem is riddled with deviousness and Ripple is here to serve as an epitome of transparency and clarity. He also asserted that Ripple’s defense against the hardline stance towards cryptocurrencies taken by the United States government and other countries is transparency.

What makes Ripple stand out from other companies like SWIFT – as Garlinghouse noted-  is the fact that RippleNet passes information in a much more reliable way compared to SWIFT, and this appeals a lot to governments and banking institutions. Garlinghouse then spoke about the possibility of expanding Ripple operations to US-sanctioned countries like Cuba and Iran. Between enforced sanctions under Trump administration and decreased funding from allies, these two countries are in trouble. However, Garlinghouse stated that they are still part and parcel of the global banking infrastructure and as such, Ripple would not mind extending its foothold there.

The Contentious Issue

The question of whether Ripple is responsible for XRP’s laggard performance refuses to go away. Yet, Garlinghouse and other Ripple executives have addressed this nagging issue more times than I can count. Speaking with Pomp, Garlinghouse asserted that the welfare of XRP is important because Ripple owns at least 55 percent of the XRP in circulation, therefore impeding the growth of XRP would mean impeding the overall growth of Ripple. He assured the XRP community that Ripple would not contemplate dumping XRP tokens because it does not work for the benefit of the firm and also because it will be considered as the depreciation of value. Meanwhile, Ripple is continuing with its expansion plans. After scoring a huge partnership deal with one of the largest global money transfers provider MoneyGram, Ripple has continued to join hands with more banks to foster cross-border payments. It currently has more than 200 banks and payments institutions using their RippleNet solution.

Speaking of which…

Ripple recently announced a collaboration with London-based financial software firm, Finastra. Through this collaboration, Ripple’s blockchain-based cross-border solutions will be available for Finastra customers. This means that Finastra users will be able to access over 200 RippleNet users worldwide.  RippleNet users will then be able to connect with Finastra’s vast number of banking partners. XRP fans anticipate that these partnership deals that keep coming will lead to increased use cases of XRP in the future, which could improve the value of the cryptocurrency.

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Brenda Ngari

Brenda is a crypto and Blockchain enthusiast and has been crafting articles for at least a year. She has a solid background in Economics and Finance. When she is not writing crypto stories, she’s spending quality time with her family and friends or trying out different cuisines in the kitchen.

https://zycrypto.com/ripple-ceo-brad-garlinghouse-transparency-is-ripples-uniqueness-makes-the-firm-appealing-to-governments-and-banks/

Thomas ClaimCo.in

This is Why Ripple Removed xRapid xVia and xCurrent from their Site

This is Why Ripple Removed xRapid, xVia and xCurrent from their Site

                             

The Cryptoverse was abuzz recently when it was discovered that Ripple

made some noticeable changes to their website. We asked the company what happened. Recently, the company has removed mentions of their products xRapid, a source of on demand liquidity, xVia, used by businesses to plug into RippleNet to send payments, and xCurrent, a banking payment solution, from their website, which prompted debates in crypto forums.

Now, “instead of buying xCurrent or xVia, customers will connect to RippleNet — on-premises or through the cloud — and instead of buying xRapid, clients will use On-Demand Liquidity,” explained a spokesperson for Ripple. So these are not new products, bur the existing ones rebranded. However, aside from the cosmetics, that is, renaming of their xProducts, “very few things have changed and will not affect our customers.” Ripple moves towards building a network instead of a software suite, the spokesperson said. The company believes that combining all the different products into a unified network is a natural evolution of the company and its offerings, given the growth of their customer base, as well as the development of their standard and technology. "RippleNet is more than just a suite of software," the spokesperson said.

Meanwhile, Ripple's CEO Brad Garlinghouse said in August that the company is in talks over "multiple" potential investments and acquisitions, and the company followed that up with two new recent acquisitions. Also, as previously reported, Ripple made several announcements in the last week alone: Ripple’s developer initiative, Xpring, partnered up with a major global blockchain payments provider BitPay, with cryptocurrency wallet BRD Wallet, blockchain analysis company Chainalysis, and digital asset custody Anchorage; there is a new Xpring SDK (software development kit) available; and other new features to the core XRP Ledger and Interledger projects were introduced.

And while XRP price jumped on the acquisition news, the other announcements at the time did not seem to help it, as it continued trading sideways. This week, however, brought good news for XRP, as the price appreciated 11%, as well as 5.6% in the past month, though it fell 2% in the past 24 hours (05:06 UTC). Also, Ripple joined hands with U.S.-based major money transfer company MoneyGram a few months ago, after the acquisition rumors had been flying in the Cryptoverse since June. The company already started using xRapid product, now On-demand Liquidity, “to buy a portion of our currency needs in major receive markets.”

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Sead Fadilpaši?

Sead is a staff journalist at Cryptonews.com who covers cryptocurrency and blockchain news daily, writes analysis pieces, tests blockchain and cryptocurrency products. He's based in Sarajevo, Bosnia and Herzegovina. Prior to joining Cryptonews.com he was a freelance, also was a journalist for Al Jazeera web. He spends his free time in music studios, recording songs for movies and cinema. Loves to break gadgets so he could fix them, enjoys exploring new music and loves tasty and equally unhealthy food.

https://cryptonews.com/news/this-is-why-ripple-removed-xrapid-xvia-and-xcurrent-from-the-4817.htm

Thomas ClaimCo.in