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Ripple CEO Says Collaboration with Swift Still Possible, While Swift Chooses R3 Instead

  • Yuri Molchan
    📰 News

    Ripple CEO Brad Garlinghouse says that working with Swift is back on the agenda, sending the XRP rate up, along with Bitcoin and Ethereum


Ripple CEO Says Collaboration with Swift Still Possible, While Swift Chooses R3 Instead
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Contents

Over the last day, XRP’s rate has jumped around 10 percent, though showing a rise by 7.23 at press time. The upside movement started after Ripple’s CEO, Brad Garlinghouse, publicly said that Ripple may come back to considering a collaboration with its major rival from the traditional financial system, Swift.

Experts believe this was what ensured the rise of not only XRP but of Bitcoin and Ethereum too.


Ripple

Garlinghouse: Swift system is well out of date

Over the last 24 hours, the Bitcoin rate has increased by 0.17 percent as per Coinmarketcap at the time of writing this. Ethereum is up 1.63 percent. Bitcoin’s market cap has risen by more than $2 bln.

All of this is assumed to have happened after Ripple’s CEO mentioned the possible cooperation with Ripple and Swift during the Fintech Forum in Paris.

Meanwhile, at the same event, the outgoing CEO of Swift said that the financial giant was about to partner with Ripple’s competitor, the R3 blockchain platform, in order to join its Global Payments Innovation network.

Back then, Garlinghouse also expressed his opinion that decentralized financial systems will most likely win in the long run, basically hinting that Swift will soon go the way of the dodo, adding that one-way messaging frameworks like Swift do not provide enough liquidity in the Internet of Value.

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Where XRP stands on Coinmarketcap

At press time, XRP is trading at $0.3119 with the trading volume amounting to $980 062 886 – that is way behind Ethereum. However, XRP is still ahead of ETH in position #2 due to the higher market cap.

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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

'Bitcoin symbol and graph.Vector illustration.' image by 123rf https://ru.123rf.com/photo_69329295_bitcoin-symbol-and-graph-vector-illustration-.html?term=bitcoin&vti=njv6v7w01tymanucm1-1-82
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