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  1. Technical Overview of BTC/USD, LTC/USD and ETH/USD by XtreamForex BTC USD BTC traded a bit lower against USD and closed at 3874.99. According to the Analysis, The BTC/USD pair is expected to find support at 3841.74, and a fall through could take it to the next support level of 3808.49. The pair is expected to find its first resistance at 3910.49, and a rise through could take it to the next resistance level of 3945.99. Previous Day range was 68.75 and Current Day Range is 21.46. LTC USD LTC traded lower against USD and closed at 57.61 According to the Analysis, The LTC/USD pair is expected to find support at 56.45, and a fall through could take it to the next support level of 55.30. The pair is expected to find its first resistance at 58.74, and a rise through could take it to the next resistance level of 59.88. Previous Day range was 22900 and Current Day Range is 10600. ETH USD ETH traded lower against USD and closed at 135.6. According to the Analysis, The ETH/USD pair is expected to find support at 133.95, and a fall through could take it to the next support level of 132.29. The pair is expected to find its first resistance at 137.85, and a rise through could take it to the next resistance level of 140.09. Previous day range was 39000 and current day range is 11000.
  2. ...is xrp's potential for being used as "reserves." I came across this article that discusses the concept of "forex reserves:" http://www.nbdpress.com/articles/2017-06-08/2632.html Before reading this article, I've heard the concept of xrp "reserves" being purchased by individual companies or market makers as a tool for managing risk and being able to profit from volatility. (source: _https://www.xrpchat.com/topic/5280-valuation-models-xrp-the-digital-currency-vs-ripple-the-company/?do=findComment&comment=50182_) The concept was always part of a larger topic, and I guess I made a mental note and just kind of said to myself "Well, yeah, that would be cool. I wonder if that would happen with a large retailer like Amazon that does international commerce." I left it there in my thinking, like a shiny bauble that might get my attention again at some point in the future. After all, I'm focused on the big fish - the possibility of RCL taking over for SWIFT. And then I read a simple group of words from this article, and realized I'd been missing the power of a concept all these years. Here's the snippet: Did you catch that amount of USD that China uses for the sole purpose of ForEx? 3.05 trillion. The Concept Nation-state federal reserves will usually carry the main unit of currency used to make ForEx transfers. And currently, US Dollars are the de-facto currency used to do those transfers. What is SAFE? (source: https://en.wikipedia.org/wiki/State_Administration_of_Foreign_Exchange) USD is Currently King of Reserves So how do we arrive at how much USD some other countries might just "store?" To do this, we need to compare the relative size of China's economy with other nations, and do the multiplication. Let's do this with a few different countries where Ripple has already established trade pairings: GDP of China: 11,218,281 ---> 3 trillion in reserves Japan: 4,938,644 ---> 1.3 trillion in reserves? UK: 2,629,188 ---> .7 trillion in reserves? India: 2,256,397 ---> .6 trillion in reserves? South Korea: 1,411,246 ---> .37 trillion in reserves? Basically, we can roughly estimate that these combined countries store approximately 6 trillion USD in reserves. Also, consider the fact that I'm not even considering businesses within these countries. Large companies tend to want to keep their own reserves of USD for exchange as well. And these companies can store very large quantities of USD in their corporate treasuries as well. I don't *think* nations would ever store a digital asset issued by a private company as a reserve, or if they did, it would be for boutique purposes most likely. A more likely scenario under the current system would be central reserves creating their own IOU on RCL. However, we can use the concept of "reserve" to understand how very large companies might want to snap up XRP at large quantities. So now, go back to the articles here on XRPChat where JoelKatz was talking about the concept of "reserves," and now three of his points should make more sense: (source: _https://www.xrpchat.com/topic/5280-valuation-models-xrp-the-digital-currency-vs-ripple-the-company/?do=findComment&comment=50182_) This is the way currency "reserves" work now for nations - and for large companies - and it is a very exciting prospect for XRP! What About the Future For World Reserve Currencies? There is a possibility that XRP could play a role in national reserves: In an exciting development, a report by the UN Conference on Trade and Development calls for abandoning the US Dollar s the single reserve currency. It says that the new reserve system should (Source: http://www.reuters.com/article/us-dollar-reserves-un-idUSTRE65S40620100629 ) The report goes even further: IMF Connection to Ripple So now we see the connection to the IMF, and now we can understand much better what Chris Larsen (and Ripple's) role *might* involve with the IMF Advisory Committee. If the SDR's are going to operate using a "basket of currencies", what technology do you think is best for representing that basket using an IMF-backed, redeemable IOU? Seriously? This type of usage couldn't be a better fit for RCL and XRP. Is your crypto portfolio on the right side of history? ###### DISCLAIMERS ###### THIS IS NOT INVESTMENT ADVICE PLEASE DO NOT TRADE CRYPTO WITH LEVERAGE I DO NOT HAVE ANY INSIDE INFORMATION I STILL OWN MTG CARDS
  3. Lots to discuss in today's blog covering the latest XRP News - along with some intriguing possibilities. For ??????, Money Tap goes live, iRemit signs on to RippleNet, and Blockchain Week in San Francisco gets started. For ????, version 2 of ILP is released, and Coil publishes their new official 'partner list' for those that are curious. For ???, ForEx platforms are all rushing to be the first to add XRP derivatives, and a new wallet application adds support for XRP as one of its first endeavors. I hope you enjoy the read & please leave any feedback below. Free free to share my blog with a friend - or on any other platform - and thank you for doing so. Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
  4. For those not aware Cobalt DL is a blockchain initiative making big ground in the fx field. Their dl technology as stated: Sound familiar? Yeah just like xrp. The difference here is does it have a digital token like xrp or us it just a ledger? Now at first it may not seem like this is an issue for ripple as they handle remittance through the banks. BUT cobalt just signed with To sum it up Ripples lowdown (competition?) Just got access to almost every bank and fi in the U.S and possibly abroad. Should we be worried or are they just a drop in the pan? Source: http://www.btplc.com/News/#/pressreleases/cobalt-joins-bt-radianz-cloud-2135771
  5. Jambo from Kenya. I'm looking to invest into XRP and hold for about 2-3yrs. Was first looking to buy through a cryptocurrency exchange, but am seeing it's better to go through a forex broker as it gives me better protection. However, I see that forex trading is mostly day trading and I'd have to pay overnight fees. Any suggestions on how I can trade XRP at a reliable forex broker for a long term?
  6. Today I was just lurking around looking at old Ripple news when two links in particular caught my eye. One was the Shopify demo testing a payment using Interledger. And another was an interview at Money 20/20 Europe with Stefan Thomas explaining the relationship between Ripple, Interledgers and XRP. https://11fs.com/blog/stefan-thomas-ripple-interledgers-xrp-relationship/ Since the Interledger protocol is designed for interoperability and reach, what if Ripple was able to connect the FX market, eCommerce, and cross border payments to create one massive network of international liquidity? This might sound like a long shot but I think it is possible given that Ripple's technology is the best solution for all of these markets. Ecommerce has trillions of dollars in sales and whatnot per year, while the FX market handles over 5 trillion per day! There was also an interesting except from a document by Earthport (which may be partnered with Ripple) on cross border payments. It reads from page 12: https://www.earthport.com/wp-content/uploads/2014/02/Cross-Border-Payments-Perspectives-A-Glenbrook-Earthport-Research-Brief.pdf What was said there is huge! There is obviously a cross border eCommerce market judging by those stats, and with the current system this is costly and sluggish. I don't want to go on and on about my thoughts and opinions, so I want to hear what you guys think of this! I am strongly convinced that Ripple is going to be a household name by 2020, just like Google, Amazon, and Apple. Made a post on Twitter about it as well to try to spread the word!
  7. This is a *really* impressive response to the ESMA discussion paper by Lykke, who act as an exchange, app and crypto-asset. Worth reading in full but my personal highlights are below. https://www.lykke.com/city/blog/dtl_securities_markets #awesomesauce
  8. "Nostro Accounts." It's one of those words I heard thrown around by ForEx traders on the forum when they were talking about Ripple. I remember my eyes kind of glazing over and thinking "Okay, blah blah, Ripple will save them some money there..." That was good enough for my thinking at the time, but since then I've done some further reading, and with recent banking adoption taking center stage, I thought I'd review it again. In addition, Ripple has specifically indicated that they are targeting nostro accounts (source: https://ripple.com/files/xrp_cost_model_paper.pdf) I was surprised by how simple the concept is, really, and it makes perfect and logical sense. Not all banks will want to do business in France, for example. Some just do business in ... lets say, the United States. An Example You Can Understand Bank "US" is a U.S. Bank based only in the US Bank "FR" is a French Bank based in only France A "nostro" account means that the US Bank opens an account with FR like they are a customer. Banks can do this. Then the US Bank buys up a bunch of Euros and puts them into that account (in their account with the French bank). They're doing this in anticipation of having to make payments in Euros out of their account at the French bank. (source: http://www.investopedia.com/terms/n/nostroaccount.asp?lgl=myfinance-layout-no-ads) Are you with me so far? That's it.... that's a nostro account. How It Works: A Simple ForEx Transaction So here's how a transaction works at it's most basic level: Let's say you are planning on working in France for six months. You go to your bank here in the US, and tell them, "Hi, I'd like to transfer $25,000 worth of Euros to an account I just opened at a French bank. But I don't have any Euros - I just have dollars here in the U.S." Your bank will then take your money, deduct it from their account having USD here in the US, and then do another entry in their account at the French bank, crediting it with the spot rate equivalent of Euros for $25,000. The number of Euros you get is known at the time of transfer. But they've got to charge you some fees associated with that transfer. Sure it's convenient for you, but remember, they had to open an account, and then buy a bunch of Euros. They have to hold Euros in this "nostro" account. Basically the lesson is this: for each country that a bank or institution wants to do a lot of business with, they should "hold" a lot of that country's currency on the other side of the border, so that they can do transactions most quickly and efficiently. Now you can see why financial institutions didn't like the idea of a "Brexit". Now the Euro will not cover the largest European country (by GDP), and they will have to buy up British Pounds at some point. That's the good thing about a Euro - it acts like XRP does, standardizing the transaction to many different countries. (source: https://en.wikipedia.org/wiki/Nostro_and_vostro_accounts) What Does This Have To Do With XRP? XRP takes the place of nostro account holdings. If banks in fifteen different countries use XRP as the "bridge" asset, then those banks no longer have to hold the fiat money of those other countries. They just have to hold XRP. Are you starting to see the magic? XRP could save banks up to 42%, even with XRP at HIGH volatility. (source: page 9 of https://ripple.com/files/xrp_cost_model_paper.pdf) There is nothing stopping XRP, and that's why banks are signing up at an increasing rate!
  9. For newbies, "Forex" stands for "foreign exchange." It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world. Pair Up Since currencies are always traded in pairs, the foreign exchange market does not set a currency's absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: 1 USD is worth X CAD, or CHF, or JPY, etc.. Liquidity is Important On a global basis, to support a massive amount of foreign exchange trading of curreny, the exchanges can process very large volumes against set rates within a range. Liquidity in the exchanges helps support these large volume transfers of currency back and forth. The RCL is no different: it needs liquidity in specific currency pairs to support forex trading of those currencies. Large volumes is the goal. Do We Contribute to Forex and XRP Liquidity? Absolutely. Traders of currency pairs form the core of Forex liquidity. The Triennial Central Bank Survey includes the trading activity for currency pairs by dealers and institutions - institutions that would be considered equivalent to today's Gatehub or Poloniex. How Big is Forex? According to the Bank for International Settlements, the preliminary global results from the 2016 Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Markets Activity show that trading in foreign exchange markets averaged $5.1 trillion per day in April 2016. Did you catch that? 5.1 TRILLION PER DAY. Leading from the Front The RCL enables Forex traders to use XRP as a bridge currency with no counter-party risk, and it also will work with ILP, enabling other bank ledgers to connect directly. This ability for the RCL to use ILP to connect with any other ledger using ILP was a huge sea change in the use cases for RCL. Ripple is at the threshold of establishing the RCL as one of the most valuable Forex back-end network tools for connecting foreign currency trades, and if even a small piece of that gargantuan pie is traded on RCL, it will start to create a ripple effect as more and more trading is completed in under 5 seconds across borders. Using a crypto-currency digital asset for this purpose promises new opportunities for Forex trading, it's derivatives, and opens potentially new markets within Forex. Do you own XRP? You really should, because Ripple is just getting started. https://en.wikipedia.org/wiki/Foreign_exchange_market http://www.bis.org/publ/rpfx13fx.pdf http://www.babypips.com/school/preschool/what-is-forex/market-size-and-liquidity.html
  10. "But XRP works with Banks, not against them!" I lost track of how many times I heard this siren cry from the bitcoinist hoards on bitcointalk back in 2013. Of course, all it did was convince me to be more sure of my XRP investment rather than doubtful. But you'd have to know something about my personal investing history in crypto up to that point. I was not a newbie by then; I'd been burned twice. And both times I learned very key, very painful, investment lessons when it came to crypto-currencies: 1) Never sell on a downturn. 2) A crypto investment with solid use cases always comes back stronger than it was before My Personal Experience I had learned this lesson from initially investing in Peercoin, then losing faith in it before it broke 15 cents. It soon went to $3 and is now listed for $1.60. That would have been roughly a 2,000% return for me if I would have just shown a little fortitude. Remember this was 2013 - the wild west of crypto was just being born at that point. I then said "no more alt coins" and invested back in bitcoin. It was approaching ~ $120 at this time. I remember thinking, "I don't think it can go much higher than this, but I guess I can trade it on a day-trade or swing-trade basis and see if I can make some money." My success was limited. I made some money, I lost some money. And then came XRP The bitcoin purests on bitcointalk were vicious to the new company, "Ripple Labs." They saw XRP as a complete replacement for Bitcoin, and a competitor that could beat Bitcoin in every way. In addition - probably this is was the worst point for some of them - it could work with the existing banking and ForEx infrastructure, not against it. They saw a threat to their profitable BTC holdings, and they attacked Ripple Labs and XRP mercilessly, spreading lies and FUD at a scale that was truly remarkable. So Why Were Bitcoinists So Afraid? Because math. That's the short version, but I know you're here to dig a bit. Basically, banks can use XRP to lower their ForEx transfer and settlement costs. How much those costs can be lessened depends on several factors. (source: https://ripple.com/insights/ripple-can-help-banks-evaluate-their-cross-border-payment-costs/) One of the services that Ripple provides is to work with a bank to analyze their costs and show them how using XRP can lower their transaction costs: In addition to lowering the transaction costs, enabling and integrating with the RCL allows banks and financial institutions to move into new markets if they so choose, as well: (Source: https://ripple.com/files/xrp_cost_model_paper.pdf ) So How Big is Banking and Forex? Yeah, super-big. If you're a newbie, here are those numbers: Current volume with SWIFT: According to this document (source: https://www.fincen.gov/sites/default/files/shared/Appendix_D.pdf ) from the US Treasury, SWIFT handles about $5 trillion per day, or given about 250 business days per year, about $1.25 quadrillion dollars a year. Conservatively, let's say Ripple manages to convince only 1 percent of those banks to use RCL. Remember, this is ONLY ONE use case for XRP, and we're estimating that they only get 1 percent of SWIFT's share. Here's the result: .01 X 1,250,000,000,000,000 X .01 = $12.5 trillion dollars worth of transactions per year! So Banks Would Only Use XRP For ForEx? As big as ForEx will be for XRP, that's not even close to all of it's use cases. For example, it can support confidential, anonymous transactions. source: Ripple has pointed out other high-frequency areas where integrations with RCL and XRP can benefit Financial Institutions: (source: https://ripple.com/files/xrp_cost_model_paper.pdf ) When somebody asks you which crypto-currency is the right choice for Banks and Investment Bankers ... well, you know the answer now! XRP
  11. I'm voluntary provocative but, look all the charts... I mean, all the other altcoin's charts. Since the end of April / start of May 2017, they all pumped hard. They all made +100%... +500%... etc. I do believe cryptos are in their early stage, and investments will flow more than that. I do believe this market is like the forex 3.0 and will far exceed all our projections, even if it's largest part could be speculation. I have no doubt that ripple is an amazing technology with great future, but... Look all the charts ! We are just another crypto. Your opinion ?
  12. One of the areas where Bitcoin has been shining over Ripple and other cryptocurrencies is in trade between digital assets. With SBI now partnered with Ripple and Kraken, this could be about to change. If Ripple continues to build and take advantage of its banking partnerships in Asia and around the world, XRP will no doubt become the major bridge currency for trade between fiat. If the new bank-backed exchanges really do have XRP as the bridge between all assets, both digital and fiat, then XRP's dominance within both spaces will be assured. At the moment, Bitcoin is really the only link people have to the other cryptocurrencies. Much of bitcoins recent growth could be attributed to growth of the space in general and its role as bridge currency. With Bitcoins current issues and the unique position held by Ripple's XRP, that could be about to shift.
  13. I currently use Ripple exactly how it was intended - as a unique tool for the transfer of value. At the moment, Ripple can be used as a low volatility, safe haven currency that facilitates reinvestment into other cryptocurrencies. For example, if I feel Bitcoin and Ethereum are in an overbought bubble and about to undergo price correction, I convert my ETH and BTC to XRP (instantly and it feels so good), hold my XRP position through the price correction, then reinvest into ETH and BTC at a lower price. For guys like me, who are trying to get a DAPP development team together and push crypto into mainstream utilization, investment tools such as XRP only serve to help bolster funding that can and will be reinvested into cryptocurrency. Right now I own a Ledger Nano S (not a shill, but I highly recommend it for $70) and would love to see support for an XRP wallet on the Ledger - it would enhance XRP's position as a safe haven currency. I believe in the instantaneous nature and capacity of Ripple - not every cryptocurrency has to be an earth shattering anarchist's dream. Enough about me - if you have a hardware wallet that you want to support XRP, I'll happily support the cause and send the dev team an email. And if you're interested, you can vote here to make Ledger support happen -- XRP support for Ledger. Good luck in the cryptosphere!
  14. All, I posted a similar query in the zerpbox and received the response "its too difficult" - but I can't get the idea out of my head/ (I.e don't understand it enough to appreciate its complexity!) so can I ask again for some technical help as to why the following won't work? OK -caveat: firstly I am NOT a techie - but I do believe in Cryptocurrencies and have always felt that there needed to be a more regulated approach for them to be accepted by the mainstream society. Consequently I bought XRP around 4 years ago and hold over a million zerps. Right my query is : if we are all lamenting the lack of day to day adoption or use of the ripple network by the guy in the street, why cant we build an app to do this? Why is there not an international currency transfer app using the Ripple network? From a layman's view point I do recognise some challenges such as 1) getting access to the network quickly for a first time user. i.e I download the app and want to send $100 to a friend in Thaliand (who will receive baht) but I don't have a gatehub account and have never heard or Bitstamp or poloniex etc. Could the app create a sender and receiver XRP address to enable this? 2) getting fiat "uploaded" or "paid in" such that you can send it to a recipient instantly: Again if I have downloaded the app but do not have $100 sitting in gatehub (because I have ever heard of it!) but have it in my bank account, how can you enable this transaction without waiting for verification etc of a new gatehub account? How could you accept the sellers visa card without risking a chargeback? 3) having adequate market liquidity such that someone can send/exchange say Gabonese francs to New Zealand dollars (for example): Could you start with the currencies for which there is a market and build from there? Perhaps having a basic "buy" or "sell" foreign currency functionality in the app to help create the liquidity. 4) funding of the app: could this be crowdfunded?? Am I pipedreaming? I for one would be keen to contribute for a share in this. S
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