Showing posts with label Ripple. Show all posts
Showing posts with label Ripple. Show all posts

December 20, 2017

How Ripple (XRP) stacks up against other digital assets

By Team Ripple - December 11, 2017 (ripple.com)


Everyone is talking about the digital asset space. Wild price fluctuations, new XRP capital funds and Bitcoin (BTC) forks have made it virtually impossible for consumers or the financial industry to ignore the popularity and proliferation of these assets.

In fact, the digital asset landscape has grown so much that there are more than 1,300 types of assets on the market with a collective market cap of $450 billion as of this posting.

We examined the top digital assets for payments while comparing their speed, cost and scalability. Here’s what we found.


Which digital asset is the best for payments?

XRP is the only digital asset with a clear institutional use case designed to solve a multi-trillion dollar problem – the global payment and liquidity challenges that banks, payment providers and corporates face. In order to effectively solve this problem, speed, cost and scalability are of extreme importance. When you line up the top digital assets for these attributes, it’s clear that XRP is the winner.

XRP is part of a bigger vision


XRP is a key enabler of the Internet of Value — Ripple’s vision for making money move at the speed of digital information. XRP’s speed, transparency, and scalability help financial institutions move money like information moves today — in real time.

It’s no wonder that real institutional customers are using and finding value in XRP and governments, regulators and central banks are increasingly recognizing the role it could play in the global system.

For more information about XRP, visit our XRP Charts or learn how to buy XRP.

December 16, 2017

What are the best desktop and hardware wallets for Ripple (XRP)?

Rippex Desktop Wallet


When it comes to the desktop wallets for Ripple, Rippex is the most trusted and easiest way to store your Ripple (XRP) coins.

Many cryptocurrency enthusiasts prefer to store their coins on desktop wallets rather than on exchanges as this gives them complete control over them. Since Rippex is an open source wallet, it has a better trust score due to the fact that if there had been some security issues, it would have been noted by other advanced users.

Rippex wallet comes for Windows, Linux and Mac systems.

Following link gives a detailed information on installing and the use of Rippex wallet. Topics explained include, 
  • Create New Rippex Account
  • Deposit XRP to your Rippex Wallet
  • Sending XRP from Rippex Wallet
  • Viewing your Rippex Wallet
  • Questions/answers on some key points like "Regular Keys". (Ripple accounts can use Regular Keys. Regular keys can be created and revoked, and they allow Ripple users to use their accounts without exposing their master keys).
How to Guide for Using Rippex Wallet for Storing Ripple (XRP):-


Ledger Nano S Hardware Wallet


Desktop wallets are generally safe as long as your computer is not infected with malware like key loggers. However, if you are holding a large amount of Ripple (or any other cryptocurrency) it is advisable to go for a hardware wallet. Hardware wallets are one of the best ways to store your cryptocurrency safely, as they offer great security with ease of use.

Ledger Nano S, a leading hardware wallet, has earned top marks for its extreme reliability and competitive pricing and comes on top for safely storing your crypto currency and even tokens. It supports many popular cryptocurrencies including Bitcoin, Ethereum, Ripple, Dash, Zcash. It connects to any computer (USB) and embeds a secure OLED display to double-check and confirm each transaction with a single tap on its side buttons.

Ledger Nano S hardware wallet features:

LATEST GENERATION HARDWARE
When you own cryptocurrencies, you need to protect your confidential data and the access to your funds. With Ledger Nano S, secrets like private keys are never exposed: sensitive operations are isolated inside your hardware wallet within a state-of-the-art Secure Element, locked by a PIN code. Transactions can’t get tampered with, they are physically verified on the embedded screen with a simple press of a button.

PAY AND AUTHENTICATE
Ledger Nano S includes Bitcoin, Litecoin, Ethereum and Ethereum Classic companion apps, and other blockchain-based cryptocurrencies. You can send and receive payments, check your accounts and manage multiple addresses for each currency from the same device.

MULTI-CURRENCY
Ledger Nano S supports Bitcoin, Litecoin, Ethereum and altcoins: hold different assets in the same hardware wallet.

BUILT-IN DISPLAY
Check and confirm transactions on the display and confirm with using the physical buttons (anti-malware second factor).

SECURITY
Your confidential data is never exposed: it is secured inside a strongly isolated environment locked by a PIN code.

MULTI-APPS
Use companion apps such as cryptocurrencies wallets, and also FIDO® U2F, GPG, SSH or build your own applications.

FIDO® CERTIFIED U2F
Ledger Nano S supports the FIDO® Universal Second Factor authentication standard on Google, Dropbox, GitHub or Dashlane.

BACKUP & RESTORATION
Your accounts are backed up on a recovery sheet.


For more info, please click the image below:-

Ledger Nano S - The secure hardware wallet


December 14, 2017

Why some claim Ripple isn’t a 'Real' Cryptocurrency

By Joe Liebkind - December 14, 2017 (www.investopedia.com)

  • founders of Ripple recommend not using their creation as a currency for speculation

  • ReRipple has no mining and transactions are powered through a “centralized” blockchain to make it more reliable and fast

  • Ripple may be the dividing line that separates two distinct products of cryptocurrencies : assets and solutions



There are many cryptocurrencies out there, each of which gained inspiration from bitcoin, the ancestor to them all. Bitcoin was humanity’s first definition of what it means to be a cryptocurrency, but it is a complicated creature that relies on many special functions and components. For instance, bitcoin has a decentralized blockchain ledger, on which its millions of participants organize and save a record of their transactions. It also has cryptographic hashing, so that traders can use a system of public and private keys to safeguard their identities.

Bitcoin’s transactions are processed by miners, a supportive and incentivized community that keep everything running smoothly. Relevantly, it also has a finite supply. These characteristics have made it easy to transact safely, store value, and even speculate.

Should a cryptocurrency exhibit each of bitcoin’s traits or can any kind of digital money be labeled as such? These are logical questions, but ones that haven’t often been asked, largely because most of bitcoin’s peers have generally stuck to their collective predecessor’s model.

Ripple is a currency gaining popularity after years of living in bitcoin’s shadow, bereft of interest from traders due to its traditional infrastructure that makes a greater compromise between crypto and fiat money. Some in the community have refused to consider Ripple a real cryptocurrency because it’s so different. Are they correct? (See more: Ripple Is Back: Here's Why.)

Ripple: The Strange Hybrid


Ripple wasn’t designed to be a coin, or a normal cryptocurrency by the standard definition. While bitcoin and comparable cryptocurrencies give the value of the coin equal priority with network security, speed, and applicability, Ripple does away with the idea of XRP as any kind of investment asset and instead focuses on making the blockchain as strong as possible. This is primarily for the good of the institutional entities that Ripple serves, like American Express or Santander Bank. To achieve this goal, the Ripple Foundation created XRP but tweaked each traditional component of cryptocurrency into an almost unrecognizable state.

Miners Be Gone


Ripple has no mining or miners whatsoever. Instead, transactions are powered through a “centralized” blockchain to make it more reliable and fast. Mining is a core tenet of most other cryptocurrencies, and each uses their own system to determine how much power the miners have. Some, like bitcoin, use Proof-of-Work, but there is also Proof-of-Stake and Proof-of-Importance.

In cryptocurrency, miners are incentivized to process network transactions with the currency itself, but this has created some issues that Ripple deems untenable. In a solution built for big banks, there should be no separate group with its own special motivations for running the network.


While this idea has helped other cryptocurrencies to remain decentralized, it has also slowed them down: a problem Ripple cannot afford. This lack of mining affects other aspects of Ripple as well, taking it further from the standard.

Plug in the Printing Press


Besides processing transactions, miners are also rewarded with cryptocurrency. This is essentially how it’s created. Ripple’s exclusion of miners naturally throws a wrench into the machinery in this regard. Ripple is not finite, and can be “printed” on-demand, which makes it much more reliable for payment processing, money exchange, and other institutional activities. When it’s used, it’s simply destroyed.

The Ripple Foundation already created the 100 billion XRP currently in circulation, giving it a stable, non-volatile character perfect for its biggest clients. However, this also removes one of the biggest factors in any true cryptocurrency: the ability to accumulate and store value as only a deflationary asset can.

A Centralized Blockchain?


Ripple does have a wallet, but getting access to the blockchain is tough. Retail participants aren’t supposed to have access because it introduces risky, strange elements into an otherwise sterile environment. The Ripple blockchain isn’t open like those of other cryptocurrencies. XRP can be safely stored and kept, and uses cryptography to protect participants, but the nodes it’s protecting aren’t individuals but “trusted” operators registered in the Ripple network. This allows the currency to use the advantages of the blockchain ledger, but in a closed ecosystem that makes it more efficient.

While bitcoin claims to be “trustless,” it’s just created a precarious house of cards whereby everyone has some incentive not to let it topple. Miners can still shut off their computers and freeze the network if they wanted to, but not with Ripple.

Putting a Title on Ripple


Much like the many questions surrounding bitcoin cash, even the founders of Ripple recommend not using their creation as a currency for speculation because it isn’t one. Ripple resembles a fintech platform more than anything else and has simply combined the best elements of fiat money and blockchain cryptocurrency.

Not a “true” cryptocurrency by the standard definition, Ripple may be the dividing line that separates two distinct products to emerge from the cryptocurrency revolution: assets and solutions. While assets can serve as investments placing faith in a decentralized community and the deflationary properties of mining, solutions will dispense with the speculation and instead create platforms that are “technically” cryptocurrency, but not traditionally viewed as such.

What is Ripple and why is it beating both Bitcoin and Litecoin?

By Chris Morris - December 14, 2017 (www.bitcointalkradio.com)


Forget Bitcoin. So long Litecoin. There’s a new cryptocurrency on the rise.

Ripple, which was designed for banks and global money transfers, has seen the value of its XRP digital currency skyrocket in the past three days. On Dec. 10, the company had a market capitalization of just over $9 billion. As of Wednesday morning, that market cap had more than doubled to $18.1 billion.

Prices for an individual Ripple XRP are considerably more affordable than its alternatives, making it even more attractive to cryptocurrency speculators. As of late Wednesday morning, a single XRP cost just 47 cents, a 66% jump from yesterday’s close, according to CoinMarketCap.

This surge has pushed Litecoin down to the fifth most valuable cryptocurrency. Both Ripple and Litecoin are still far below Bitcoin and Ethereum, however.

What is Ripple?


While it wasn’t released until 2012, Ripple is actually older than Bitcoin. The original version of the company was created in 2004, according to Bitcoin Magazine. It never really went anywhere, though, until it put a professional management team in place, which included E-Loan co-founder Chris Larsen and Jed McCaleb, founder of MtGox.

Ripple’s cryptocurrency has been adopted by banks and other financial institutions. Those companies believe Ripple’s system offers both better prices and is more secure than other digital currencies, including Bitcoin. It allows users to send, receive, and hold any currency in a decentralized way via the Ripple network. The company is cash-flow positive and holds a vast store of XRP, which it periodically releases into the market.

But the real appeal of Ripple’s XRP for banks is its liquidity.

“The liquidity needs of banks today is managed with literally ten trillion of float that sits in these nostro and vostro accounts. We believe very strong this is an inefficient model. You can use digital assets to fund liquidity, and Ripple is uniquely positioned to capitalize on that. Bitcoin takes four hours to settle a transaction. XRP takes 3.6 seconds,” Ripple CEO Brad Garlinghouse told Fortune earlier this year.

Why is Ripple surging?


Ripple’s rise seems to be a (pardon the pun) ripple effect from the surge of interest in Bitcoin. Investors who believe cryptocurrency may be reaching a peak are looking for others that could provide a greater return in the long term. The company has hit some notable milestones in recent months, though.

As of October, Ripple had licensed its blockchain technology to over 100 banks. Last month, American Express came on board. And Michael Arrington’s $100 million cryptocurrency hedge fund will be valued in Ripple’s XRP.

How much has Ripple grown in 2017?


Year to date, Ripple’s XRP has seen its value jump more than 7,000% and its market cap increase by nearly 7,700%.

December 13, 2017

How to buy Ripple (XRP)?

Ripple - Overview


Ripple provides one frictionless experience to send money globally using the power of blockchain. By joining Ripple’s growing, global network, financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets.

With offices in San Francisco, New York, London, Sydney, India, Singapore and Luxembourg, Ripple has more than 100 customers around the world. 


How to buy Ripple (XRP)?


For institutional purchases and for individual purchases of Ripple, please visit following link. For individual purchases of Ripple, the link gives a comprehensive list of exchanges that accept cryptocurrencies (BTC, ETH) and fiat currencies (USD, EUR, JPY, CNY, INR, KRW, AUD, THB, MXN) for Ripple purchases.

Exchanges listed are: Bitstamp, Kraken, Gatehub, BtcxIndia, Coinone, Bitso, Coincheck, Korbit, Qryptos, Bitbank, Bitsane, Btcmarkets, Litebit.eu, Bx.en.th, Bitcoin.co.id, etc.

How to buy Ripple? : https://ripple.com/xrp/buy-xrp/


Best place to keep your coins is a hardware wallet.
 Ledger Nano S is the majority choice:
Ledger Nano S - The secure hardware wallet

Ripple price leaps 13% after company escrows 55 billion XRP

By Josiah Wilmoth - December 08, 2017 (www.cryptocoinsnews.com)

The ripple price received a 13 percent bump after the fintech startup revealed that it had put its 55 billion XRP tokens into escrow.

Ripple Price Rallies 13 Percent


The ripple price had spent the majority of the week in decline, falling from $0.254 on December 1 to $0.222 this morning. However, shortly before 1:00 UTC, the ripple price shot up as high as $0.272 before leveling off to a present value of $0.250 — a 12-hour gain of nearly 13 percent.

XRP Price Chart | Source: CoinMarketCap

Ripple’s daily trading volume swelled to nearly $700 million, with nearly half of that concentrated on the South Korean exchanges of Bithumb, Coinone, and Korbit.

Source: CoinMarketCap

Ripple Escrows 55 Billion XRP


The apparent justification for the upswing is the announcement that Ripple — the fintech startup behind XRP — had officially placed 55 billion of its estimated 61.8 billion XRP into escrow. Each month, 1 billion tokens will be unlocked for Ripple’s use, and any unused tokens will be placed back into escrow.

This development eliminated the threat that Ripple could flood the market with XRP, effectively crashing the price. Though highly unlikely, this scenario was possible since Ripple holds almost twice as many XRP than are currently in circulation. Now, XRP investors know with certainty the rate at which new tokens will enter the market, enabling them to better establish a fair value price for the token.

    “By securing the lion’s share of XRP in escrow, people can now mathematically verify the maximum supply that can enter the market. While Ripple has proved to be a responsible steward of XRP supply for almost five years – and has clearly demonstrated a tremendous track record of investing in and supporting the XRP ecosystem – this lockup eliminates any concern that Ripple could flood the market, which we’ve pointed out before is a scenario that would be bad for Ripple!,” the company wrote on its blog.

Ripple had announced its intention to escrow these tokens months ago, so the news had already been somewhat priced in. Nevertheless, the escrow’s execution provided the ripple price with another bump, enabling the fourth-largest cryptocurrency’s market cap to rise to $9.7 billion.


Posted by Josiah Wilmoth
Josiah is a former ancient and medieval literature teacher. He has been writing about cryptocurrency since 2014, and his work has been cited in Business Insider, NPR, and Yahoo! Finance. He lives in rural North Carolina with his wife and son. Email him directly at josiah.wilmoth(at)cryptocoinsnews.com.

November 29, 2017

Ripple Splash - TechCrunch Founder launches $100 Million XRP Hedge Fund

By Josiah Wilmoth - November, 29, 2017 (www.cryptocoinsnews.com)


TechCrunch founder Michael Arrington has announced the creation of a $100 million hedge fund that will be denominated in XRP, the native token of Ripple.

Arrington made the announcement at the Consensus: Invest conference in New York, revealing that the fund will be called Arrington XRP Capital. Significantly, investors will buy shares of the fund and receive distributions in XRP, the native currency of the Ripple Consensus Ledger (RCL) and the fourth largest cryptocurrency by total market cap.

“A year ago I was just a crypto enthusiast,” Arrington wrote in a blog post that accompanied the announcement. “Now I’ve altered my career path to focus entirely on cryptocurrencies and related technologies. And this isn’t just a short term focus. With this new fund I’m signaling my intent to spend the rest of my career on cryptocurrencies. There will be dramatic ups and downs along the way, but we’re in this for the long haul.”

The CrunchFund founder wrote that he and the other founding partners of Arrington XRP Capital chose to denominate the fund in cryptocurrency rather than fiat to make it easier for cryptocurrency holders and foreign investors to participate in the fund. They chose XRP due to its “super-fast and secure settlement infrastructure,” which has also been adopted by financial services heavyweights such as American Express.

Arrington said that this feature is not a mere gimmick but will be an integral component of the fund’s operations:

“We’ll pay our own fees and salaries out in XRP as well. We want to “eat our own dog food” and be active users of crypto currencies in as many parts of our fund operations as possible, not just investors. This will make us better investors,” he wrote.

According to Fortune, the fund — which has raised approximately half of its $100 million target — will invest primarily in cryptocurrencies and initial coin offerings (ICOs), although it may obtain small equity stakes in blockchain startups.

XRP traded up on the news, briefly cracking the $0.30 barrier for the first time since June. At present, XRP is trading at $0.286, which represents a 24-hour increase of six percent and gives the cryptocurrency a market cap of $11.1 billion.

Featured image from Shutterstock.

November 16, 2017

American Express launches Blockchain-based Business Payments using Ripple technology

BY Polina Chernykh - November 16, 2017 (www.coinspeaker.com)


The partnership will allow businesses in the United States send instant transactions to Santander customers in Britain via the blokchain technology.


American Express has partnered with Santander UK and fintech firm Ripple to enable blockchain-powered international B2B payments. The solution is anticipated to speed up cross-border transactions between the UK and the US using the blockchain technology.

American Express’ customers will now be able to conduct payments on the FX International Payments (FXIP) platform that will route transfers via the Ripple’s enterprise blockchain network, RippleNet. According to companies, the service, which is already used by customers, will be expanded globally in the future.

”American Express has a long history of integrating new technologies into innovative products and services that differentiate and enhance the customer experience,” said Marc Gordon, chief information officer at American Express. “This collaboration with Ripple and Santander represents the next step forward on our blockchain journey, evolving the way we move money around the world.”

Unlike traditional payment systems, blockchain-based platform will reduce the cost of international transfers and simplify settlement process, while maintaining advanced security of payments.

“We’ve already seen evidence that blockchain technology is playing a transformational role in the way customers are served,” said Greg Keeley, Executive Vice President of Global Corporate Payments at American Express. “Not only does this partnership with Ripple help decrease the time it takes for international transactions to be processed, it can make our transactions more effective for our customers.”

Initially, the project will connect American Express’ customers in the US to UK Santander bank accounts, enabling instant, traceable cross-border non-card transactions.

“We’re taking a huge step forward with American Express and Santander in solving the problems corporate customers experience with global payments,” said Brad Garlinghouse, CEO of Ripple. “Transfers that used to take days will be completed in real-time, allowing money to move as fast as business today. It is just the beginning, and we look forward to growing this partnership to help other American Express FXIP customers.”

Santander was among the six major banks that partnered with Ripple last year to establish the first interbank group for the development of the blockchain network for global transfers.

Ripple leverages the power of the blockchain technology to enable frictionless payments all over the world. By using Ripple’s network, financial organizations can process their customers’ payments instantly and cost-effectively.

American Express is committed to transform business processes by using the blockchain technology. Earlier this year, the bank joined Hyperledger, the Linux Foundation-led cross-industry initiative aimed at creating an enterprise-grade, open-source distributed ledger technology. In 2014, the bank’s CEO, Kenneth I. Chenault, shared his view on the blockchain, saying it would play an important role in the industry.

October 29, 2017

Price Analysis, October 28 - Bitcoin, Ethereum, Bitcoin Cash, Ripple and Litecoin

By Rakesh Upadhyay - October 29, 2017 (cointelegraph.com)


The number of hedge funds which exclusively trade digital currencies has grown to 120, with about $2.3 bln in total assets under management, according to the financial research firm Autonomous Next.

While it sounds like a large number, it pales in comparison to the $3.15 tln managed by the hedge fund industry in the third quarter.

Cryptocurrencies have attracted only a small number of institutional investors because most still remain skeptical. The latest criticism comes from legendary investor Warren Buffet, who has said that Bitcoin is in bubble territory.

Well, a correction after such a stupendous rally is certainly possible. Therefore, we always recommend a stop loss to our readers. Even if the digital currencies correct sharply, our losses will be limited and our capital will be preserved. We can again reinvest at lower levels.

BTC/USD


We had recommended long positions in Bitcoin in our previous analysis, with our target objective being $6000. On Oct. 27, the digital currency hit a high of $5986, where hopefully traders would have booked partial profits as suggested. Where is Bitcoin headed next?  


Bitcoin is currently correcting towards the trendline support at $5600. Just below this support is the 20-day exponential moving average (EMA) at $5513. We expect buying to emerge at these levels, however, we are not certain that this level will hold this time.

Our stops at $5650 have been hit. We would like to sit back and wait, because if the support zone of $5513 to $5600 breaks, the digital currency will slide to $4975 levels.

On the other hand, if the support zone holds then Bitcoin is likely to remain range-bound between $5600 to $6000. However, the next buy on the virtual currency will only be triggered if it breaks out to new highs and crosses the resistance line of the ascending channel.

Presently, we don’t find any buy setups, therefore, we don’t not recommend any fresh trade on Bitcoin.

ETH/USD


We don’t have any existing positions or recommendations on Ethereum. The bulls and the bears are taking a break after the hugely volatile day on Oct. 22.


Ethereum has a slew of resistances from $300 to $315 levels. Therefore we recommend a long position only on a breakout, and close above $315 with a close stop loss. The first target is $353.

On the downside, it has support from the trendline at $280, below which it is likely to fall to $272 and thereafter to $252 levels.

At current levels we don’t find any buy setups on Ethereum, hence we do not suggest to trade on it.

BCH/USD

We had observed some buying in Bitcoin Cash but we did not recommend any trade because the risk to reward ratio was not favorable. Do we see a trade on it now?


The cryptocurrency is currently returning from the upper end of the range at $400. The 50-day simple moving average is also at $398. Therefore, we expect a stiff resistance at $400 levels.

However, if the digital currency breaks out of this overhead resistance, it has a pattern target of $518.

Hence, we can buy on a breakout and close above $400. We shall limit our risk by keeping a stop loss of $350. We don’t want to hang on to the trade if it falls back into the range.

However, if Bitcoin Cash fails to breakout and close above $400, it is likely to remain range bound for a few more days.

XRP/USD


Both the buyers and the sellers seem to have deserted the digital currency in the past three days, as a result of which, the volatility has shrunk. However, this period of low volatility is unlikely to sustain for a long time. We should soon see an expansion in volatility.


If Ripple breaks out of the moving averages, it should attempt a pullback to at least $0.23955 levels, which is the 50 percent Fibonacci retracement of the fall from $0.29699 to $0.18211. If the virtual currency breaks out of this level, then a rally to $0.25311 and $0.27241 is also possible.

Therefore, we recommend a long position at $0.22 with a stop loss of $0.19650. As this is a risky trade, we suggest using only about 30 percent of the usual allocation.

However, if the cryptocurrency fails to breakout on the upside, it can drift down to $1.8211 levels.

LTC/USD


Litecoin has not been able to breakout of the range of $44 to $57.7. Therefore, our buy levels were not triggered.  


The 50-day SMA is situated at $55.59, while the 20-day EMA is at $56.57. Just above the moving averages is the upper end of the range at $57.729. If the digital currency breaks out of all these resistances, chances are that it will start a new uptrend.

Therefore, we retain our buy recommendation provided in our previous analysis. Please buy on a breakout and close above $57.7. The stop loss is $51, whereas the target objective is $71.

If Litecoin fails to breakout of the overhead resistance, it will fall back towards the $52 levels.

October 21, 2017

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin - Price Analysis, October 21

By Rakesh Upadhyay - October 21, 2017 (cointelegraph.com)






Only a few months back, the market capitalization of the whole cryptocurrency universe crossed the $100 bln mark. Now Bitcoin alone has crossed the $100 bln mark.

In doing so, it has increased its dominance to 58.5 percent, a level last seen in May this year. This shows that money is pouring into Bitcoin, whereas altcoins are getting hammered.

At some point in the near future, once the leader tires out, other popular coins are likely to offer an excellent buying opportunity.

Is Bitcoin nearing a top? Are altcoins ready to follow the leader? Let’s find out.

BTC/USD


Bitcoin is on fire. It has been consistently rising for the past two days. Can this rally continue? We don’t have any existing positions in Bitcoin, should we establish one at the current levels?


Bitcoin has reached a critical resistance level from the channel line. It has not been able to breakout of this channel since June of this year. A breakout of the ascending channel gives it a target of $8000, equal to the depth of the channel. However, this level is unlikely to be reached in the short-term. Therefore, we have to work with intermediate targets.

The breakout from the range of $5391.4 to $5875 gives the cryptocurrency a minimum target objective of $6359. If this level is crossed, then the next possible level is $6845.

Our higher targets will be invalidated if the virtual currency turns down from the current levels.

As the risk to reward ratio is not attractive, we don’t recommend any fresh trade. However, investors carrying positions from lower levels should keep a stop loss of $5600.

Once Bitcoin breaks out and sustains above the channel, the stops can be raised to about $5800 levels and then trailed higher.

On the downside, $5875, the earlier resistance, will act as a strong support.

ETH/USD


Ethereum has been falling for the past six days. However, we expect it to hold the $275 to $286 zone, which has served as a strong support for the past month and a half.


We don’t recommend buying on the way down. We should wait for the next day or two to confirm that the support zone is holding, because a break of this support can sink Ethereum to $252 levels.

If, however, the support holds, the digital currency is likely to trade in a range for a few days, then attempt to start a new uptrend.

Presently, we don’t find any buy setup, therefore we don’t suggest any trade on Ethereum at the moment.

BCH/USD


While Bitcoin is roaring ahead to new highs, Bitcoin Cash has not found any buying support from the bulls. However, selling has subsided, which has resulted in small range days.


Presently, the digital currency is attempting to hold the $282 to $300 support zone. If Bitcoin Cash breaks this level, it will sink towards lows of $190.

On the other hand, a breakout of $400 will signal a change in trend. Therefore, we recommend a long position only at $410, with a stop loss of $350. The target objective is $530.  

XRP/USD


We don’t hold any positions in Ripple. The digital currency is currently attempting to hold the $0.20 levels. However, buying interest has declined following the sharp reversal from $0.3 levels.


If Ripple breaks below $0.2, it’s likely to fall towards $0.15 levels, where we recommend to initiate long positions because it has not broken down of $0.145 on a closing basis since June this year. However, this trade should be taken on the way up, after Ripple confirms a bottom. Please don’t try to catch a falling knife and enter when the cryptocurrency is falling. The stop loss can be kept $0.126.

On the other hand, if the virtual currency holds the $0.2 levels, it will again attempt to rally towards $0.3. But, we don’t find a reliable set up to trade this. Hence we don’t recommend a long position until Ripple falls to $0.15 levels and holds it.

LTC/USD


On Oct. 18, though Litecoin fell to $53 levels, it quickly climbed back higher and closed above $57.7. It has since then managed to stay above this support level. However, presently the cryptocurrency is threatening to fall into the range once again.


If Litecoin breaks below $57 and is unable to climb back quickly, it will invalidate the current bullish setup.

However, if the cryptocurrency finds support at the current levels and turns up, a long position can be initiated at $63. The stop loss for the trade can be kept at $55 and the profit objective is $71.


The views and opinions expressed here are solely those of authors/contributors and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

* BTC/USD, ETH/USD and LTC/USD market data is provided by the HitBTC exchange.

October 19, 2017

Gates Foundation launches Blockchain-based mobile payments solution

By Joshua Althauser - October 20, 2017 (cointelegraph.com)

The Bill and Melinda Gates Foundation has launched the Mojaloop open-source payments software to provide an interoperability layer between financial institutions, payment providers, and other companies offering payment services to the poor and unbanked people around the world.


The mobile payments system employs the Interledger technology that was developed by distributed ledger technology (DLT) startup Ripple.

According to the foundation’s deputy director of financial services for the poor, Kosta Peric, the new software is aimed at resolving the issues with respect to the interoperability of digital payments. He also issued an invitation to players in the banking and payments industries to test the system.

"Interoperability of digital payments has been the toughest hurdle for the financial services industry to overcome. With Mojaloop, our technology partners have finally achieved a solution that can apply to any service, and we invite banks and the payments industry to explore and test this tool.”

Other partners

Aside from Ripple, the foundation was also supported by several financial technology companies in developing the software. The application was developed under the group’s Level One Project, which is an umbrella program for the foundation’s work with the unbanked, poor people that allowed it to explore disruptive technologies such as Blockchain.

Under the project, several mobile phone technology providers, namely, Huawei, Ericsson, Mahindra Comviva, and Telepin, have contributed to the development of an open application programming interface (API) to speed the pace of integrations of digital payments services providers.

The Gates Foundation’s works on Blockchain


The Bill and Melinda Gates Foundation has been exploring ways to use the Blockchain technology under the Level One Project since 2015. Among the initiatives is the possible use of the technology to bridge or link the disconnected financial systems.