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Breaking: UK bans sale of Bitcoin Ethereum and XRP derivatives to retail consumers

Breaking: UK bans sale of Bitcoin, Ethereum and XRP derivatives to

retail consumers

Breaking: UK bans sale of Bitcoin, Ethereum and XRP derivatives to retail consumers

The market for crypto-derivatives, e.g. BitcoinEthereumXRP and other cryptocurrencies has taken a severe hit. The UK Financial Conduct Authority (FCA) has banned its trading for retail customers.

In the official announcement, the regulator declared that the above products are “harmful” to consumers for 5 main reasons.

Firstly, the regulator stated that the underlying assets do not have a reliable basis to protect their value.

(Editor Comment: How about letting the Free Market determine the Value instead of Manipulative Regulators as in the Fiat currency market.)

Second, the FAC believes that abuse, illegal activities and financial crime are widespread in the secondary crypto market.

(Editor Comment: Abuse, illegal activitties and financial crime have been widespread in Fiat Currencies forever. How about banning them? (Coming soon) )

In addition, the FAC argues that cryptocurrencies are extremely volatile and that end-users “do not have a sufficient understanding” of the underlying assets.

(Editor Comment: The Stock Market can be extremely volittile and many end-users have little understanding of the underlying assets.)

Finally, the FCA claims that investing in derivatives of cryptocurrencies is “harmful” investment.

(Editor Comment: Harmful to who? The Regulators because they don't have manipulative conttrol?)

The regulatory authority states:

These features mean retail consumers might suffer harm from sudden and unexpected losses if they invest in these products (…) which includes well-known tokens such as Bitcoin, Ether or Ripple (XRP). Specified investments are types of investment which are specified in legislation. Firms that carry out particular types of regulated activity in relation to those investments must be authorised by the FCA.

UK’s FCA targets Bitcoin, Ethereum and XRP derivatives

The UK regulator claims that the ban on crypto derivatives will save UK consumers around £53 million a year.

(Editor Comment: It will also keep the UK consumers that have made profits from receiving them.)

In addition to the ban, the FCA has determined to prohibit the distribution and marketing of any derivatives to UK consumers. Specifically, the FCA mentions the following derivatives: options, futures, contracts for difference (CFDs), and exchange-traded notes (ETNs).

The measures apply to companies and firms “operating within or outside the United Kingdom”. The Executive Director of Strategy and Competition for the FCA, Sheldon Mills, stated:

This ban reflects how seriously we view the potential harm to retail consumers in these products. Consumer protection is paramount here.

(Editor Comment: This ban reflects how seriously they view manipulative Control over consumers. Regulator's Manipulative Control is paramount here.)

Significant price volatility, combined with the inherent difficulties of valuing cryptoassets reliably, places retail consumers at a high risk of suffering losses from trading crypto-derivatives. We have evidence of this happening on a significant scale. The ban provides an appropriate level of protection.

(Editor Comment: This ban provides nothing except Regulator Control over the UK cittizens.)

According to the FCA’s announcement, the prohibitive measures will take effect from 6 January 2021. The regulator has asked companies and firms that trade in crypto derivatives to stop their operations before this date. In the meantime, the regulator advises investors to “stay alert” for crypto-scams. From now on, they qualify all companies offering crypto derivatives products to retail consumers as “possible scams”.

(Editor Comment: It takes one to know one.)

In a separate document, the FCA also clarified that its measures will affect firms that issue or create crypto derivatives, firms that distribute them (brokers, financial advisors, and investment platforms), marketing firms that reference the referred derivatives, traders, consumers, and retail consumer organizations. With regard to consumers, the FCA states:

Retail consumers with existing holdings can remain invested following the prohibition, until they choose to disinvest. There is no time limit on this, and we do not require or expect firms to close out retail consumers’ positions unless consumers ask for this.

(Editor Comment: Fascism Marches On in the UK.)


(Editor Note: this Post is based on information collected by Reynaldo of Crypto News Flash)

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XRP Price Prediction 2020 XRP Will Test 02800 if it Crosses the Accumulation Zone Bull Rally Might be Cut Short Today September 26th 2020 XRP Ripple XRP Has Been Trading in the Green for the Last Few Days as Market Recovery Kicks In XRP Cam

XRP Price Prediction 2020 – XRP Will Test $0.2800 if it Crosses the Accumulation Zone, Bull Rally Might be Cut Short Today – September 26th, 2020 


 Ripple XRP Has Been Trading in the Green for the Last Few Days as Market Recovery Kicks In

  • XRP Came Close to the Accumulation Zone Before it Moved Lower Against the USD

  • The Next Time the XRP Token Tests the Accumulation Zone, it Will Set Sights at $0.2800

XRP Price Prediction 2020 – XRP had been moving higher like Bitcoin BTC, Ethereum ETH, and all the other tokens in the market over the last two days. For the first time in weeks, XRP managed to gather enough bullish momentum to attempt a break into the accumulation zone. The token has been struggling to hold the line above the $0.2000 level and the bulls took control of the market eight after it tested the $0.2190 low. Since then, XRP has moved higher against the USD breaking several resistances along the way.


XRP Price Prediction 2020 – XRP Might Reach the Accumulation Zone Soon 

At the time of writing, the XRP token was trading at $0.239804. It was up by 0.42% against the USD and up by 1.60% against Bitcoin BTC. The trading volume over a 24 hour period was $1,738,462,725 and the market capitalization was $10,814,509,407. The token moved near the resistance at $0.2600 but the bears quickly moved in dragging the XRP token away from the accumulation zone where the bulls would have taken full control of the market. The current consolidation of the XRP token is part of the market-wide rally. Bitcoin BTC is rising and the other tokens are rising at the same time. Bitcoin is currently trading at $10,723.14. It is up by 0.98% against the USD and up by 2.16% against Bitcoin BTC. The trading volume over a 24 hour period was $54,272,760,048 and the market capitalization was $198,382,623,662.

If the price of Bitcoin BTC rises above the $11k level, it will make higher highs near-term. If the XRP token doesn’t get to the accumulation level soon, it might move back to the $0.2200 level before it sees another major uptrend. One analyst has said that the XRP token will rally by 20% to the $0.28 level near-term. The rise above the $0.28 level will allow XRP to retest the $0.30 level for the first time in weeks. As reported

by NewsBtc;

“XRP: The market is overly bearish, but the markets are actually on some impressive support zones to accumulate some positions. Similar to XRP. Patience pays. Looking at some longs here, which could be towards $0.28 first in the next month.”

XRP isn’t out of the woods yet despite the price action of the token in the last two days. In the next few days of trading, we will know what direction the XRP token will take in the next few days.

Article Produced By
Max Mayer


Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.


Heiko Closhen, Entrepreneur

XRP Price Analysis for May 15th XRP Switches to Correction

On Friday, May 15th, the XRP rate is correcting after the recent growth. The cryptocurrency is generally trading at 0.2023 USD.

On D1, XRP/USD keeps forming an uptrend after a correction. Upon correcting from 50.0% Fibo, the quotations are trading near 38.2%. At the current stage, this may signify the end of the pullback and further growth. If the pair breaks away 50.0% Fibo, it has all chance to reach the next step at 61.8% inside the ascending channel. The MACD histogram is in the positive zone, and the signal lines have formed a Golden Cross, which additionally signals the continuation of the uptrend. The goal of the growth is near 0.2584 USD.

On H4, the pair keeps growing inside the ascending channel. It is currently testing 38.2% Fibo. A breakaway of this level will let the price proceed to the next checkpoint of 50.0% Fibo. The Stochastic has formed a Golden Cross, which signals the continuation of the growth. The goal is at 50.0% Fibo.According to the cooperative investigation by the watchers from the UCL Blockchain and Imperial College London, Ripple uses its capabilities to carry out voluminous transactions inefficiently. The results of watching money transfers from October 1st until December 31st show that only 2% of the transactions in the Ripple network are meant for payment. By the way, productive transactions are mostly connected with the Huobi exchange.

Among fundamental news, note the information that Ripple must be starting the work n a new credit product based on the blockchain. Such a conclusion may be made from this vacancy. The main object of work must be a product meant for business interests and covering for the demands of the companies that have troubles with current capital. We may deduct a rough scheme of the product: it might be quick credit for current capital; it is formed fast, calculated easily, and repaid soon. Such a product may yield high demand, keeping in mind the number of companies that Ripple is already working with.

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Dmitriy Gurkovskiy


Heiko Closhen, Entrepreneur

Why Traders Shift From Ethereum And Bitcoin Networks In Droves To XRP

Why Traders Shift From Ethereum And Bitcoin Networks In Droves To XRP

According to recent research conducted by Ripple, traders swap bitcoin (BTC) and ethereum (ETH) for XRP for their exchange balance transfers.

Xpring’s data scientist Shae Wang noted that the recent financial market instability has put cryptocurrencies networks to the test. The increased trading volumes witnessed, sparked network congestion on both ethereum and bitcoin. This subsequently made it very difficult to move these two currencies in and out of exchanges. As a result, most traders opted for XRP for convenient exchange balance transfers.

Traders Use XRP For Interexchange Transfers To Escape High Fees And Delays On ETH And BTC Networks

When there are increased trading activities, network congestion on both BTC and ETH networks reaches exceptionally high levels as transaction fees for both assets skyrocket. This causes the traders to shift to XRP as an alternative rebalancing asset. Transaction fees and gas prices are metrics that show the overall health of the ethereum network. When the fees are high, it means that users are paying a premium to have their transactions confirmed. Wang observed that when ETH fees surge, XRP cross-exchange transfers also increase in tandem. In other words, there is a clear correlation between skyrocketing ethereum fees and XRP interexchange transfers. For instance, Wang cites that during the March 12 bloodbath, ETH transaction fees increased by as much as 400% while XRP cross-exchange transactions soared 226%.

XRP Fees Remain Stable Despite Market Conditions

Wang also argued that XRP indeed works as a bridge currency.

“It’s possible that traders do not hold enough XRP for rebalancing or liquidation, leading to converting their ethereum into XRP, to use as a bridge currency.”

This suggests that there is an increase in XRP/ETH trading activities on days when there is a notable increase in ETH fees. When both BTC and ETH experience a hike in transaction fees, XRP fees remain the same. And even though traders flocked to XRP for interexchange rebalancing, transaction fees did not increase, the researcher added.


The head of Developer Relations at Xpring, Warren Paul Anderson, noted that this trend was also witnessed in 2017. Notably, it led to the creation of xRapid -now known as On-Demand Liquidity (ODL). Back in 2018, the launch of xRapid brought out the XRP bulls as the asset’s value grew. The bottom line is, creating an efficient and resilient network that makes it easy for users to move money everywhere is Ripple’s core agenda. According to Xpring’s Wang, “strong evidence that these features are value-add for users gives our everyday work fulfillment. It’s also an incentive to continue focusing on them.”

Article Produced By
Brenda Ngari

Brenda is a crypto and Blockchain enthusiast and has been crafting articles for at least a year. She has a solid background in Economics and Finance. When she is not writing crypto stories, she’s spending quality time with her family and friends or trying out different cuisines in the kitchen.


Heiko Closhen, Entrepreneur

Cryptocurrency Startup Ripple Facing New Lawsuit on Its Handling of XRP

Cryptocurrency Startup Ripple Facing New Lawsuit on Its Handling of XRP

Financial technology company Ripple and its CEO Brad Garlinghouse are again facing a new lawsuit over the sale and marketing of the cryptocurrency XRP.

Stephen Palley, a blockchain and digital currency lawyer at Anderson Kill, revealed the allegations of the new class-action suit filed on Friday at the Northern California District Court. “In what is getting to be old hat, yet another lawsuit against Ripple and Mr. Garlinghouse saying that XRP is an unregistered security, created out of thin air, and serves no real purpose except to make a couple of people really rich.”

The suit claims Ripple, the largest holder of XRP, has marketed the token to the public to raise more than $1 billion. It further alleges that the crypto startup made false and misleading statements about the cryptocurrency to increase demand. The case was filed by lawyer Pavel Pogodin of Puerto Rico-based Consensus Law on behalf of plaintiff Bitcoin Manipulation Abatement LLC, which previously filed a $150-million lawsuit against cryptocurrency derivatives exchange FTX.

“You do have to chuckle at the irony of a plaintiff that looks like it was created as a litigation vehicle making this charge.” The lawsuit is the latest in a series of cases the San Francisco-based company faces. A complaint filed in 2018 by former XRP investor Bradley Sostack alleges the company sold XRP as an unregistered security and engaged in false advertising. Ripple denies the allegations and says the XRP Ledger is beyond the company’s control and would continue to operate without Ripple’s involvement.

Article Produced By
Daily Hodl Staff


Heiko Closhen, Entrepreneur

XRP Friendly Giant SBI in Deal to Use World’s Largest Bitcon Mine’

XRP Friendly Giant SBI in Deal to Use ‘World’s Largest Bitcon Mine’

Crypto-keen Japanese financial giant SBI has confirmed plans to collaborate with Whinstone,

an American company that is currently building what will become the United States’ largest data center – and what its operators claim will be the world’s largest Bitcoin (BTC) mining facility. The deal, per a joint press release, will see SBI team up with the American company, which is owned by Frankfurt-headquartered mining operator Northern Data. SBI’s mining arm SBI Crypto will set up shop in the new data center in Texas.

The companies revealed that they had been in talks regarding possible cooperation since the start of 2019. The new deal will see the American and German companies work with SBI Crypto on developing more “projects related to blockchain technology,” as well as “joint software development and deployment.” SBI appears to have alluded to the new Texas project in its most recent presentation to shareholders, where it stated that it was closing down one international mining facility and looking to move into the American market. The news comes hot on the heels of an SBI investment in crypto risk management platform Elliptic. And SBI’s blockchain spending spree will likely not end there.

The press release’s author wrote,

“SBI Crypto is also positioned for potential equity participation in Northern Data.”

Northern Data unveiled its plans for the facility last year. The facility is set to mine Bitcoin, and will have a 1-gigawatt capacity. Its constructors say the arm will be ready by the end of Q4 2020, and are building it in a patch of land purportedly over 400,000sqm in size.Meanwhile, SBI is know for praising Ripple (XRP), also stating that XRP is the most “practical and usable” token around. SBI and Ripple have a deep business partnership, and Yoshitaka Kitao, CEO of SBI, is a member of the latter company’s board. Also, SBI is among the investors that injected USD 200 million into Ripple in December 2019. Moreover, the holding aims to issue XRP tokens as company-wide shareholder rewards.

Article Produced By
Tim Alper

Tim Alper is a British, South Korea-based journalist, a regular contributor to Cryptonews.com, who covers cryptocurrency and blockchain related news daily, writes in depth analysis pieces about the latest trends in the cryptocurrency and blockchain space. Tim has over 12 years of media experience. He has written for the BBC, the Guardian, the Jewish Chronicle, Chosun Ilbo and many other media outlets, covered cryptocurrency and blockchain related news. He has also collaborated on media projects with the likes of Samsung, Sony, LG, Hyundai, Korean Air, TÜV SÜD and Shell.


Heiko Closhen, Entrepreneur

XRP Is Beating Bitcoin in 2020 But This Crypto Whale Is Still Betting on BTC

XRP Is Beating Bitcoin in 2020 – But This Crypto Whale Is Still Betting on BTC

‏‏‎ ‏‏‎ ‏‏‎The CEO of crypto investment bank Galaxy Digital is clarifying his recent comments on XRP and Bitcoin.

At last week’s LINC 2020 conference in Orlando, Florida, Mike Novogratz said he believes Bitcoin will outperform XRP by a wide margin in 2020. Now, Novogratz has unleashed a tweetstorm to explain his bearish call on the third-largest cryptocurrency. He admits that XRP’s performance so far this year – along with the altcoin market at large – has taken him by surprise. At time of publishing, XRP is up 43% in 2020, while Bitcoin is up 36%. However, Novogratz says the institutional investors he’s talking to remain focused on BTC.

“This year the broader alt market, including XRP has outperformed BTC. This has surprised me. That said, I see more and more large accounts getting educated and set up to be accumulators of BTC and believe on a risk adjusted basis it’s the best place to bet on crypto.” Novogratz says Bitcoin has cemented its status in macro portfolios as a digital store of value, but investments in other cryptocurrencies are speculative in nature or “venture bets.” Some might be able to offer lasting value if they prove to be useful. “BTC has found a place as a weapon in macro portfolios as digital gold – a hard asset. All other cryptos are venture bets and will only have lasting value if they become a product that is useful. Ethereum might be the trust level people build on. If it does, it’s a great bet.”

However, the Galaxy Digital CEO points out that both Ethereum and XRP are still in the “proving phase.” Novogratz ends his tweetstorm with a reminder that Ripple still owns more than half of the total supply of XRP. He says Ripple will have to distribute the XRP it owns sensibly while building a real-world use case. “The price of XRP will be determined like all prices. If there are more buyers than sellers (and the company has a lot of control here) the price will rise. The company needs to distribute in a rational way at the same time building a real and scalable use case. I hope they do.” Novogratz certainly has a track record as an investor in the world of crypto. The former hedge fund manager told Bloomberg he sold $250 million in Bitcoin and Ethereum before the 2017 bubble burst.

Article Produced By
Daily Hodl Staff


Heiko Closhen, Entrepreneur

Bulls Ignition: Ripple’s XRP On The Verge Of Topping Back 02

Bulls Ignition: Ripple’s XRP On The Verge Of Topping Back $0.2

XRP has been weaker than the rest of the major cryptocurrencies,

however, the digital asset might be looking for an explosive move upwards. According to Coinmetrics, the correlation between XRP and BTC has been increasing significantly lately. Bitcoin has been able to break from its recent daily downtrend and has formed a bull flag that was confirmed a few days ago. If the correlation between both assets keeps increasing, XRP could very easily just follow Bitcoin’s steps and break above $0.2 which would mean a break out of the current downtrend. XRP is really facing no major resistance levels until $0.233 aside from the 12 and 26-period EMAs. The RSI continues to be overheated for XRP but it’s not in the oversold area right now, trading volume has been dropping significantly again.

XRP Long Term Still Bearish

It’s important to remember that even if XRP can turn bullish in the short-term, its long-term outlook is still quite bad. The digital currency has crashed over 60% in the last 6 months and has continued its monthly downtrend since December 2017. The weekly chart has also been in a downtrend for the majority of the time. XRP attempted a trend change back in September 2018 with a huge pumping week of +103% that unfortunately led nowhere. The digital asset lost most of the gains in the next 2 months and created another weekly downtrend. The next attempt at a trend change happened in May 2019 with a good amount of followthrough but was still not enough and XRP crashed back down again within 2 months.


XRP’s total market dominance has been decreasing significantly from a high of 11% back in January 2019 to its current low of 4.3%. Although XRP’s future looks quite dull, the digital asset can still see decent gains in the short term. If the correlation with Bitcoin increases further, XRP bulls could look for a weekly trend change as long as Bitcoin continues to post gains.

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Lorenzo Stroe

Skilled Journalist and Financial Technology Writer successful at Creating Unique pieces that tell Intriguing stories. Contact: Lorenzo.Stroe [at] zycrypto.com


Heiko Closhen, Entrepreneur

Jed McCaleb has sold half the XRP he received left with 45 billion

Jed McCaleb has sold half the XRP he received; left with ~4.5 billion


The culmination of 2017 bull-run gave rise to scores of crypto millionaires and a few billionaires.

Jed McCaleb, co-founder of Ripple was one of the very few who made the list. On his exit from Ripple in 2013, McCaleb held 9 billion XRP and had signed a contract with Ripple to ensure that no huge XRP dumps would take place. However, there have been allegations of McCaleb selling hoards of XRP, but an active XRP member put these allegations to rest. Twitter user @LeoHadjiloizou identified accounts used by Ripple to send XRP to McCaleb’s XRP selling wallet and charted out the sales of XRP over-time by the co-founder. Leonidas tweeted, According to their deal, Ripple has control over McCaleb’s XRP and it holds it in 3 distinct accounts and 1 account through which it sold XRP via Bitstamp.

Thus, the wallet addresses mentioned by Leonidas, are associated with Ripple and indicate a moving of XRP from their wallets to the address that sells McCaleb’s XRP.  The chart provided by the Twitter user called attention to the sale of XRP and compared it to the daily CoinMarketCap volume. Even though the chart reflected similarities between McCaleb’s XRP sales and XRP volume on CMC, the Twitter user pointed out that a “huge” percent of the total volume was fake. The sale of XRP took place according to the deal with Ripple and saw a no-sell period between January 2019 and June 2019, indicating that McCaleb’s XRP sale has not amounted to a large figure that could cause market instability.

Leonidas added:

“… a huge % of the total volume is fake. I wanted to check if the sales are being calculated based on a different metric, like the volume from crypto compare. The graph doesn’t seem to suggest that anything changed.”

After revising a few details from the contract in February 2016, the new deal asked McCaleb to donate 2 billion XRP and noted that even though he retained ownership of the 5.3 billion XRP, Ripple will control its release. According to the data, the co-founder has managed to sell half the XRP he received and was left with approximately 4.5+ billion more.
Namrata Shukla

Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.


Heiko Closhen, Entrepreneur

Crypto Exchange CoinField Bringing Stock and Fiat-backed Stablecoins on the XRP Ledger

Crypto Exchange CoinField Bringing Stock and Fiat-backed Stablecoins on the XRP Ledger

CoinField’s sologenic is a sophisticated ecosystem aiming to facilitate investing and trading of on-demand tokenized assets, including Stocks and ETFs from 25+ global exchanges on top of XRPL.


Last Tuesday, Canadian cryptocurrency exchange CoinField revealed in a press release details

on its new project Sologenic. The innovative idea is to make stocks such as Tesla and Apple tradable on

the popular XRP ledger.

“We’re making it easy for people around the world to have access to different global stock exchanges via the blockchain.” said Bob Ras, CoinField CEO, and added “Imagine living in Tokyo and being able to trade assets from NASDAQ, HKEX, LSE, Deutsche Boerse, and major exchanges on one secure platform. This platform tokenizes stocks on the XRPL as demanded, allowing you to trade it against any cryptocurrency and spend in real-time anywhere.”

For market-making and liquidity, Sologenic deploys SOLO Coins (?), which are issued on the XRP ledger to ensure that liquidity transactions take place in a matter of seconds. They work as a dynamic bridge between crypto-assets and traditional assets by being paired directly with fiat as collateral to settle with third-party brokerage firms.

On Sologenic, users can invest, trade, and tokenize assets such as stocks, ETFs, and fiat on-demand with ultra-fast and efficient transactions in real-time. For example, a tokenized stablecoin of TSLA or USD is presented as TSLA? or USD?. These stablecoins are tradable and redeemable against XRP and SOLO on both CoinField exchange and XRPL DEX. The new tool merges the most tried and true aspects of traditional financial markets with all the efficiency benefits of cryptocurrency technology, especially the transaction

speeds of XRP.

“Ultimately, Sologenic helps the mass adoption of cryptocurrency by allowing people to invest in stocks. It’s a WIN-WIN for everyone!” – Bob Ras, CoinField CEO

SOLO will be available for trading on CoinField’s existing exchange and major global crypto exchanges. Moreover, the company announced an upcoming Decentralized XRPL Exchange. The exchange built on top of the XRP ledger enables users to trade issued tokenized assets for SOLO or XRP.

SOLO Community

Sologenic is a community-based ecosystem where users can participate in different decision making events and benefit from the SOLO Community Fund (SCF) and the SOLO Expansion Fund (SEF). Developers are encouraged to contribute to the Open Source SDKs and other decentralization initiatives. Users can voluntarily participate in multiple time-based reward programs and receive up to 20% rewards annually. SOLO holders are eligible to obtain a free Crypto Card which enables them to spend their SOLO coins instantly anywhere in the world. Cardholders will receive a monthly rebate up to 2% on the total amount spent via these cards.

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Bitcoin Garden

This content is brought to you by the Bitcoin Garden staff.

Heiko Closhen, Entrepreneur