SWIFT not joining hands with RippleNet

Neutral SWIFT not joining hands with RippleNet

Generally considered the world's third-largest cryptocurrency, Ripple (XRP) recently experienced an astounding 14 percent rise, temporarily replacing Ethereum as the number two ranked cryptocurrency for what is now the fourth time over the last year.

This 14 percent rally occurred over a period which saw no other large-cap cryptocurrencies muster a rise of more than four percent.

While much of the discussion has been centered on XRP surpassing the circulation of ETH briefly, and whether a time will come where it can bypass it for a sustained period, it's worth looking at some of the reasons why this rise happened.

Expansion Into the Middle East

At the 2018 Global Islamic Economic Summit in Dubai, Ripple announced plans to set up an office in the United Arab Emirates largest city.

This news comes on the heels of September's announcement of a partnership with the National Commercial Bank, a Saudi institution that boasts more than five million customers worldwide.

Ripple's global head of infrastructure, Dilip Rao, has confirmed that along with Saudi Arabia, financial institutions in Kuwait, Bahrain, and Oman have already begun the process of utilizing XRP to facilitate cross-border payments, or have begun to run pilot tests on the Ripple blockchain.

The Banco Santander Factor

Although first announced in March of this year, the strategic partnership between Ripple and $80 billion banking titan Santander wasn't all that clear until the announcement in October of the integration of RippleNet into Santander's OnePay FC mobile banking app aimed at cross-border payments.

The Ripple-based app was initially released in the UK, Spain, Poland, and Brazil, but expansion to other parts of South America, Asia, and Europe was also announced.

The success of this venture will likely play a huge role in determining how other financial institutions approach a possible relationship with Ripple.

The "X" Factor

Anyone who's been involved in crypto for any length of time knows that we can see increases and dips for more obscure reasons. Not every spike can be attributed to something as easily identifiable as a partnership with a billion dollar bank or branching out into new territory.

Something as minor as a mention in a respected trade journal like the American Banker website, or an extremely tenuous suggestion that we could see XRP payments integrated with ApplePay by way of a by crypto-wallet provider Wirex can be enough to send the cryptosphere into overdrive, with proclamations of Ripple's XRP rallying on "news of ApplePay option."

Is the Momentum Sustainable?

When all is said and done the most critical question is can this momentum be maintained? On a number of occasions XRP has risen above ETH in becoming a distant 2nd to bitcoin, but each time it has run out of steam and slipped back.

Both crypto assets remain close in the race to establish the most prominent alternative to the industry mainstay, but with a $700 million edge on Ripple's $21.2 billion valuation, Ethereum is still out in front. Barely.

One thing for sure is that it's going to be interesting to see how both perform over the coming months.

Guest Post by Aubrey Hansen

11/09/2018 / 04:35:25 Source: coinnounce

BTC
1 BTC=$4,569.00
XRP
1 XRP=$0.4432
ETH
1 ETH=$136.44
XUC
1 XUC=$3.19
BCH
1 BCH=$265.13
EOS
1 EOS=$3.85

News Feed 50

Cryptoinsider Neutral - Airdrops reconsidered: free XLM on Blockchain’s Wallet read more.
11/21/2018 / 15:41:49
Livebitcoinnews Neutral - IBM and Columbia University Launch Blockchain Accelerator Programs read more.
11/21/2018 / 15:30:49
Ccn Neutral - Bitcoin Price Crash Not Caused By SEC Actions, Says Blockchain Lawyer read more.
11/21/2018 / 15:30:17
Cryptoglobe Negative - #Ethereum (ETH) Price Analysis – November 21 read more.
11/21/2018 / 15:30:00
Blokt Neutral - Coinbase Reopens Bitcoin Cash [BCH] Trading With Prices Sharply Lower read more.
11/21/2018 / 15:19:48
Coindesk Neutral - In First Since 2015, Bitcoin’s Price Is Testing a 200-Week Average read more.
11/21/2018 / 15:15:16
Financemagnates Neutral - Manhattan Rich Kid Steals Cryptocurrency from Silicon Valley Executive read more.
11/21/2018 / 15:14:32
Cointelegraph Neutral - Crypto Mining Firm Giga Watt Files for Bankruptcy, Faces Eviction in Washington County read more.
11/21/2018 / 15:05:00
Blokt Neutral - Brief Respite from Bitcoins Bearish Price Movements read more.
11/21/2018 / 15:04:26
Themerkle Negative - Coinbase Officially Declares BCHABC to be the Only Bitcoin Cash read more.
11/21/2018 / 15:00:01
Cryptoglobe Neutral - BitPay's Merchants Can Now Settle Transactions With Paxos Standard Token (PAX) read more.
11/21/2018 / 15:00:00
Themerkle Neutral - Dogecoin Price Rally Postponed as all Markets Face Another Slump read more.
11/21/2018 / 14:50:28
Cryptopotato Neutral - Crypto Technical Analysis: Head and Shoulders Pattern, Triangles and Wedges read more.
11/21/2018 / 14:46:54
Trustnodes Neutral - There’s No “Let’s Be Evil” Button on the Blockchain Says Edward Snowden read more.
11/21/2018 / 14:42:48
Ccn Neutral - ‘Crypto Bubble Went Bust for Good’: Bitcoin-Bashing NYU Prof. Nouriel Roubini read more.
11/21/2018 / 14:38:04
Bitcoin.Com Negative - Bitcoin Isn’t Volatile – the World Is read more.
11/21/2018 / 14:30:29
Cryptoglobe Negative - #XRP Price Analysis – November 21 read more.
11/21/2018 / 14:30:00
Blokt Neutral - Paxos and BitPay Partner to Add PAX Support for Global Bitcoin Payment Service read more.
11/21/2018 / 14:29:10
Cointelegraph Neutral - Blockchain Capital Exec: Bear Markets ‘Do Bear Things,’ but BTC Has ‘Gigantic’ Potential read more.
11/21/2018 / 14:15:00
Cointelegraph Neutral - 21-Year Old American Purported SIM Swapper Arrested for Alleged Theft of $1 Mln in Crypto read more.
11/21/2018 / 14:05:00
Coindesk Neutral - Four More ICOs Hit with Cease-and-Desists by Colorado Securities Regulator read more.
11/21/2018 / 14:00:57
Cryptoglobe Neutral - XRP Struggles to Keep up With Big Gainers as Crypto Market Adds $6 Billion read more.
11/21/2018 / 14:00:39
Bitcoinist Neutral - Bitcoin Price Bounces as Cryptocurrency Market Sees Relief Rally read more.
11/21/2018 / 14:00:39
Newsbtc Neutral - What Could Have Caused The Year’s Biggest Crypto Crash? read more.
11/21/2018 / 14:00:14
Blokt Neutral - TransferWise Currently Not Interested in Blockchain Technology Until More Banks Use Ripple read more.
11/21/2018 / 13:59:08
Ccn Neutral - Bitcoin Price Rises From $4,050 to $4,560 Amid Extreme Volatility Following Bakkt Delay read more.
11/21/2018 / 13:42:22
Cryptoglobe Neutral - #Bitcoin (BTC) Price Analysis – November 21 read more.
11/21/2018 / 13:30:00
Livebitcoinnews Neutral - VanEck Subsidiary Launches Bitcoin US OTC Spot Index read more.
11/21/2018 / 13:30:00
Blokt Neutral - Regulators Investigate Last Year’s Record Highs for Bitcoin, Did Tether Prop up the Market? read more.
11/21/2018 / 13:29:52
Cointelegraph Neutral - Japanese Banking Giant, Others Donate $800K for Blockchain Course at University of Tokyo read more.
11/21/2018 / 13:20:00
Financemagnates Neutral - Singapore Sees First Bitcoin Trial: Were Bitcoin Trades Reversed? read more.
11/21/2018 / 13:16:26
Newsbtc Neutral - “Crypto King”: Bear Market Aside, Bitcoin (BTC) Still Has Inherent Value read more.
11/21/2018 / 13:00:56
Coindesk Neutral - Bitcoin Mining Firm Giga Watt Declares Bankruptcy Owing Millions read more.
11/21/2018 / 13:00:30
Ccn Neutral - Singapore’s First Legal Trial Over Bitcoin Trading Disputes Began Today read more.
11/21/2018 / 13:00:18
Blokt Neutral - Coinbase Announces It’s Attending the AWS re:Invent Conference in Las Vegas Next Week read more.
11/21/2018 / 12:59:46
Cointelegraph Neutral - South Korea Science, Food Ministries to Use Blockchain for Tracing Beef Supply Chain read more.
11/21/2018 / 12:56:00
Bitcoin.Com Neutral - SEC Investigates Salt Lending’s ICO, Huobi Advises Russian Bank on DLT read more.
11/21/2018 / 12:30:38
Cryptoglobe Neutral - Head of Digital Asset at Susquehanna on Bitcoin: 'Every Great Idea Is Volatile' read more.
11/21/2018 / 12:30:00
Blokt Neutral - Bitcoin Inches Back up After Falling 23.8% in 2 Days; Sets New Record Low for 2018 read more.
11/21/2018 / 12:29:43
Coinspeaker Neutral - Paxos Standard Stablecoin Wins a Spot at BitPay on Its Way Towards Broader Usage read more.
11/21/2018 / 12:25:36
Cryptonewsreview Neutral - CoinGeek boss proposes truce in Bitcoin Cash war that would see the end of BCH read more.
11/21/2018 / 12:08:54
Coinspeaker Neutral - Amid Crypto Market Sharp Downturn, Traditional Stock Markets Seem to Collapse as Well read more.
11/21/2018 / 12:05:23
Cointelegraph Neutral - Ex-SEC Commissioner and Investment Banking Veteran Join Bitfury Team read more.
11/21/2018 / 12:02:00
Coindesk Negative - The Crypto Insurance Market May Total $6 Billion. That’s Nowhere Near Enough read more.
11/21/2018 / 12:00:35
Newsbtc Neutral - ICOs Yet to Liquidate All of Their Ethereum, Could Another Drop be Imminent? read more.
11/21/2018 / 12:00:19
Livebitcoinnews Neutral - VeChain Based eSports Start-up Plair Raises $22 Million in ICO read more.
11/21/2018 / 12:00:13
Cryptoglobe Neutral - Spain's Authorities Aim to Collect Taxes from 15,000 Cryptocurrency-related Businesses read more.
11/21/2018 / 12:00:00
Financemagnates Neutral - Cryptology Launches Margin Trading & P2P Lending Services read more.
11/21/2018 / 11:44:03
Ccn Neutral - Singapore Exchange Reveals Expectations For Listed Companies Conducting ICOs read more.
11/21/2018 / 11:42:57
Cointelegraph Neutral - South Korea: Messaging Giant Kakao to Attract Crypto Investments in Singapore read more.
11/21/2018 / 11:31:00
Negative
3.9%
Neutral
94.8%
Positive
1.2%
Mixed
0.1%

Latest comments:

4 min
Hey Sam, how is it going? But I must explain to you how all this mistaken idea of denouncing of a pleasure and praising pain was born
3 min
Pretty good. Doing my homework.. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because
2 min
Any chance to go out? To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage
2 min
.. Maybe 40-50 mins. I don't know exactly. On the other hand, we denounce with righteous indignation and dislike men who are so beguiled
1 min
Anyway sounds great! These cases are perfectly simple and easy to distinguish.