Ripple drops and doesn’t seem to recover

Despite its recent positive development, Ripple fell by 28,35% during last week
23 October 2017   2524

Ripple, being the cryptocurrency with the third largest market capitalisation in the world after Bitcoin and Ethereum, seems to sweepingly lower in price.

Ripple coin development charts
Ripple Charts

Ripple was developing optimistically for a long period of time, continuously rising in price, expanding Ledger ecosystem to 55 validator nodes, doubling the size of its network. The cryptocurrency successfully entered China market and saw a 40% climb in August 2017, having its daily volume top $2.3 billion. 

It continued its adaptation to Asian market by opening office in Singapore and achieving the market cap of $7.8 billion. 

Despite the above mentioned optimistic development, Ripple’s price started moving down recently, for instance it lost more than 13% in the beginning of last week and it remains unstable and continues to decrease. 

On October 19th it lost about 6% in 24h after Yuki Takenaka, the operator of Ripple Trade Japan, was arrested on suspicion of fraud.

At a conference Swell: The Future Is Here, hosted by Ripple from October 16-18 in Toronto investors were waiting for any serious announcements from the company about its partnerships or innovations, but there were no significant XRP-related news and even the announcement about Ripple’s partnership with Gates Foundation did not help the price of XRP climb up.

Thus, the coin price is facing obstacles on the way to rise, currently remaining at the point of $0.1957, which is way too far from the highest price it had in May 2017 costing $0.4292, and it’s hard to predict if it will recover its positions in the nearest future.

R3’s New App to Support XRP Payments

Corda Settler is a opensource application in the CorDapp pack and makes it possible to make payments for payment obligations in the Corda networ
06 December 2018   117

Banking blockchain consortium R3 has announced the launch of the Corda Settler application for international cryptocurrency payments in corporate distributed networks. The first supported digital asset in the application is the XRP token, CoinDesk reports.

The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the of the world’s most influential crypto and blockchain communities can work together. While the Settler will be open to all forms of crypto and traditional assets, this demonstration with XRP is the next logical step in showing how widespread acceptance and use of digital assets to transfer value and make payments can be achieved.
 

Richard Gendal Brown

CTO, R3

Corda Settler is a opensource application in the CorDapp pack and makes it possible to make payments for payment obligations in the Corda network through any parallel means supporting cryptocurrency, crypto assets or traditional payment mechanisms that can provide cryptographic confirmation of the fact of settlement of transactions.

In particular, the application verifies the transfer of the expected amount to the recipient’s account, automatically updating the Corda registry. Also in the developers' plans is the addition of support for deferred netting of transactions and settlements on pre-established amounts in real time.

When a payment obligation arises in the Corda system, one of the parties may request payment in XRP tokens. The other party will receive a notification of such a request and that it must configure the payment to be sent to the specified address before a certain date. As soon as the oracle service confirms the payment, the parties may consider the obligation fulfilled.

Application support for the XRP token may seem somewhat unexpected if we recall the recent court proceedings between R3 and Ripple, but a source close to the situation claims that the disagreements did not have anything to do with it. The very launch of a new payment mechanism, he said, should give greater legitimacy to cryptocurrencies.