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Ripple Works Indirectly with Paypal, Gets German HSBC and Xoom as Strategic Customers

  • Yuri Molchan
    📰 News

    An important rep of the Ripple community sends word on Twitter that the German HSBC bank now gets on board the ship with Ripple customers


Ripple Works Indirectly with Paypal, Gets German HSBC and Xoom as Strategic Customers
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Just recently, an important member of the XRP community, XRPDarren, posted on his Twitter account an official PDF document from the site of HSBC (whose assets value totals 2.5 trillion) which proves that the Deutsche bank HSBC and Xoom are now both cooperating with Ripple.

It’s no secret that the Xoom payment service is owned by PayPal. Therefore, a curious conclusion is that Ripple and its conventional competitor, a monster of online payments, are now working together – unofficially and indirectly.


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Ripple gets new strategic partners

The aforementioned tweet can provoke the thought that Ripple has now obtained #1 global banks as customers for using its blockchain products and perhaps XRP in the future. HSBC and Bank of America hold a major stake in controlling the global banking system.

The third bank of this large scale is JP Morgan. However, there have been no direct reports that JP Morgan even has an intention to work with Ripple. Nonetheless, there are rumours about it, based on the fact that in 2018 over a dozen of the bank’s top executives went for a meeting held at the headquarters of Ripple.

Are Ripple products being integrated?

Besides, recently HSBC reps publicly spoke of the bank’s plans regarding blockchain and invested around $250 bln into the open ledger technology. That was announced back in late August 2018.

One of the advisory board members of HSBC is Chris Larsen (a Ripple co-founder). From the video that was posted in Twitter back then, the community concluded that the blockchain payment technology described by official bank reps sounded very much like Ripple’s xRapid.

Ripple’s aggressive advance

Currently, Ripple keeps expanding its ecosystem, as long as XRP integration is moving on at a great pace. Binance as well as Bitrue have launched XRP as their base crypto and have already added new trading pairs with it. The Canadian CCXCanada exchange has also hinted at doing likewise, as U.Today reported earlier.

The only crypto startup that can be compared with Ripple here is the Tron Foundation, which has also been extremely active recently.

Current XRP market stance

At press time, Coinmarketcap shows XRP trading at $0.3278. The asset seems to be firmly holding spot #2 on the top-ten list, with its market cap totalling $13 456 345 814. Ethereum is right behind it, and for a short while recently, Ethereum had managed to regain position #2, next to Bitcoin.

Ethereum’s market cap at the moment is $12 770 373 816.

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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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