XRP Ledger's Network Activity Metrics Show Significant Growth in Q1 2023: Messari Report
According to a report by cryptocurrency analytics firm Messari, the XRP Ledger (XRPL) saw significant growth in both the number of unique daily active addresses and daily transactions in Q1 2023 compared to the previous quarter. The number of daily active addresses on XRPL increased by 13.9%, while the average daily transaction count rose by 10.7%. However, the number of new addresses slumped in Q1 2023 compared to the previous quarter. XRP's price surged by 56% QoQ, and it currently has a valuation of $24.15 billion, ranking as the sixth-largest cryptocurrency by market cap.
Ripple Launches CBDC Payment Platform with Fubon Bank in Hong Kong Pilot Program
Ripple Labs has partnered with Fubon Bank to launch a new payment platform for a central bank digital currency (CBDC) in Hong Kong. The platform will be part of Hong Kong's new e-HKD pilot program, which aims to explore the use cases and implementation issues of e-HKD. The Ripple-Fubon Bank tie-up will offer solutions for real estate asset tokenization and equity releases using the CBDC. The CBDC platform can facilitate central banks, governments, and financial institutions to issue their own CBDCs and manage the digital currency's full life cycle.
Bitcoin and Ether prices fall, Ripple XRP gains following launch of CBDC platform
Bitcoin and Ether experienced a drop in prices on Friday morning in Asia, with Litecoin also recording losses. However, XRP was the only cryptocurrency in the top 10 non-stablecoin category to see gains, following the launch of its new central bank digital currency platform by Ripple. U.S. equity futures rose after a strong rally in regular trading on Thursday, with positive earnings reports and debt ceiling talks playing a role. Despite the dip in Bitcoin's price, financial analyst Tone Vays believes that the halving cycle will cause Bitcoin to rise again.
Ripple Selected for HKMA's Real Estate Asset Tokenization Pilot Program and Acquires Metaco for Enterprise Offerings
Ripple has been chosen by the Hong Kong Monetary Authority (HKMA) to showcase its real estate asset tokenization solution as part of the e-HKD Pilot Programme. The programme includes various payment and settlement solutions, such as tokenized deposits, settlement of Web3 transactions, and settlement of tokenized assets. Real estate asset tokenization is predicted to become a multi-trillion-dollar industry by 2030. Ripple's solution combines e-HKD, tokenized real estate, and lending protocols, all running on a private and secure ledger built with the same technology as the XRP Ledger. Additionally, Ripple has acquired Swiss-based digital asset custody and tokenization technology provider, Metaco, to expand its enterprise offerings.
Tradecurve Surpasses XRP and Uniswap in Presale Momentum with Unique Features and Borderless Trading Experience
Tradecurve (TCRV) is gaining interest from the community for its unique offerings, despite being only in phase one of its presale. The platform plans to offer a borderless trading experience with deep liquidity across thousands of assets, algorithmic trading, VIP account services, negative balance protection, and more. Tradecurve also intends to offer token holders benefits like staking, exclusive rewards and bonuses, and discounts on trading fees. With its current momentum, Tradecurve is on track to be the next big thing in the crypto market.
Ripple's Price Finds Support at 200-Day Moving Average, Eyes Resistance at $0.56
Ripple's price has seen a strong uptrend after finding support at the 200-day moving average of $0.41. The recent rejection phase can be seen as a mid-term consolidation correction stage, which is important for a healthy bullish rally. If the price manages to surpass the significant resistance region at $0.4675, its next target will be the channel's upper boundary at approximately $0.6. However, if the bears take control, the price may face a downward trend.
Ripple Launches CBDC Platform for Central Banks and Financial Institutions
Ripple has launched its Ripple CBDC Platform, which is designed to provide a seamless solution for issuing, managing, and distributing central bank digital currencies (CBDCs) and stablecoins. The platform is expected to revolutionize the financial services industry, as more than 90% of countries are exploring the development and implementation of CBDCs to increase financial inclusion, lower costs, and reduce risks associated with domestic and cross-border payment processes. Leveraging blockchain technology used on the XRP Ledger, the Ripple CBDC Platform enables central banks and governments to bring the next level of digitization to their financial services while promoting access to millions of people around the world who are unbanked. The platform offers a range of features, including ledger technology built on a new private ledger underpinned by the XRPL’s core energy-efficient technology, and enables issuers to manage the full life cycle of their fiat-based digital currency in a highly secure manner.
Ripple Is Currently Demonstrating the Use Case for Its Platform Under the E-HKD Pilot Program
Ripple has launched a platform for central banks, governments, and financial institutions to issue their own digital currency. The platform allows for the management and customization of the entire life cycle of the CBDC, including minting, distribution, redemption, and token burning. Both wholesale and retail CBDCs can be issued, and offline transactions are possible.
Ripple CEO Criticizes US for Confusing Crypto Regulations, Highlights Europe's Potential
Ripple CEO Brad Garlinghouse has criticized the United States for its confusing crypto regulations, which are causing many cryptocurrency companies to leave the country. Garlinghouse blames the U.S. Securities and Exchange Commission (SEC) for the lack of clear guidance on cryptocurrency regulation, making it difficult for companies to conduct business in the United States.
Ripple Price Analysis & Prediction (May 18th) – XRP Nears an Exhaustion Point, Trades Calmly Above Key Support Level
After a significant rise in March, Ripple's price has dropped to a six-week low of $0.41 and has since consolidated above that level with no signs of a bullish reversal. Despite this week's market downturn, XRP has remained relatively stable, finding support at $0.41 and retesting $0.44 before falling sharply.
Ripple CTO Reacts as BitBoy Allegedly Dumps BEN Tokens
David Schwartz, the CTO of Ripple, has expressed his dislike for BitBoy, a prominent crypto influencer and YouTuber, accusing him of dumping his BEN tokens despite promising to hold onto them.
Ripple's CTO David Schwartz Explains Why the Company Chose Metaco Over PolySign as a Partner
David Schwartz, the CTO of Ripple, has addressed questions from the XRP community about why Ripple chose to partner with Metaco instead of PolySign, despite their close ties. Schwartz explained that PolySign's roadmap leads in a different direction from Ripple's, making a partnership less suitable. Although Ripple and PolySign share executives, they do not have an official partnership. Some speculate that the decision to partner with Metaco could be related to Ripple's recent campaign toward European expansion, as PolySign is based in the US while Metaco is in Switzerland. There have been talks of a potential synergistic relationship between Ripple and PolySign, but nothing official has been announced.
Expect Infamous Hinman Speech Documents to be Released by June 6, Says Defense Lawyer and Former Federal Prosecutor
James K. Filan, a defense lawyer and former federal prosecutor, predicts that the Hinman Speech documents will be made public by June 6, based on a previous court order. These documents relate to a 2018 speech by former Securities and Exchange Commission (SEC) corporation finance division director Bill Hinman, in which he stated that Ether (ETH) was not a security. Filan provided an update on the timeline for the release of the documents in a Twitter thread on May 17. However, some believe that the timeline could be affected if the SEC files an appeal or if the case is settled. Ripple Labs, which already has access to the documents, sees them as an important piece of evidence in its defense against the SEC's assertion that XRP is a security.
Ripple Price Loses Crucial Support Level: Can XRP Price Recover After Breaking Critical Support?
The XRP price has broken a critical support line of a previous pattern, putting the long-term bullish structure at risk. The price action and RSI readings in multiple time frames suggest a continuing decrease, with the acceleration of the downward movement being the most likely future price scenario. The Ripple vs SEC case has seen a small victory for Ripple as the judge denied a motion filed by the securities regulator, but the postponement of the case has drawbacks for Ripple's ability to access its reserves and raise funds. Technical analysis suggests that despite a bounce, the decrease is expected to continue in the near future, with a fall below the wave 5 low at $0.41 meaning the trend is still bearish.
XRP Lawsuit Update: Parties Have 21 Days to File Redacted Summary Judgment Documents, Says Attorney Filan
According to attorney James K. Filan, parties involved in the SEC vs. Ripple lawsuit have until June 6, 2023, to publicly file redacted versions of summary judgment documents. This follows a court order mandating the filing of these documents in the public docket 21 days after the court decides their sealing requests. Filan's update prompted reactions from the XRP community, with some expressing gratitude for the clarification. The decision by Judge Analisa Torres to deny the SEC's request to seal internal deliberations related to William Hinman's controversial speech has also been noted.
XRP (Ripple) sees significant gains in cryptocurrency markets following small victory in SEC lawsuit
XRP (Ripple) is the only major cryptocurrency that has seen significant gains in the crypto markets, while Dogecoin and Litecoin have only experienced minor increases. The rise in XRP's value is attributed to positive news from the SEC's lawsuit against Ripple, which resulted in a small victory for the company. However, the outcome of the lawsuit, which has been ongoing for almost two and a half years, may still have a significant impact on XRP's price in the medium term. Despite the victory, XRP's current price is still less than half of its all-time high in early 2018, and the uncertainty surrounding the lawsuit may be contributing to its relatively low volatility compared to ETH.
Ripple's XRP Price Surges 8% After Court Ruling in Favor of Ripple in SEC Lawsuit
Ripple's XRP saw an 8% increase in price after a court ruling that denied a motion filed by the Securities and Exchange Commission (SEC) in the ongoing Ripple vs SEC case. The ruling was seen as favorable for Ripple by investors.
Ripple Acquires Swiss Custody Firm Metaco in $250M Deal To Expand Into Institutional Crypto Custody Services
Ripple, a San Francisco-based enterprise blockchain and payments specialist, has acquired Swiss custody firm Metaco in a deal worth $250 million. This move marks Ripple's expansion into providing crypto custody services for institutional investors. The company plans to offer customers tools to custody, issue, and settle tokenized assets.
Bitcoin Drops Below $27K While Altcoins Remain Slightly Red, XRP Sees Notable Price Jump
Bitcoin has fallen below $27,000 after failing to continue upwards and hitting resistance at $27,500. Other altcoins such as ETH and BNB are also slightly down, while XRP has seen a notable price jump. Bitcoin had briefly spiked to over $27,600 before retracing and experiencing another minor drop below $27,000.
Judge Denies SEC's Attempt to Seal Records Related to William Hinman's Speech on Ethereum and XRP Lawsuit
The U.S. Securities and Exchange Commission's (SEC) attempt to keep internal documents related to William Hinman's speech sealed has been denied by Judge Analisa Torres. The SEC argued that the documents should be sealed due to their lack of relevance to summary judgment motions and the potential for prejudice against the financial regulator.
