In an official announcement, San Francisc0-based blockchain startup Ripple is now joining hands with software solution provider TAS. The official TAS website its engagement with Ripple saying “Ripple is coming.. and TAS is ready!” As we all know, “Ripple is a ‘Global, Neutral Settlement System’ for bilateral settlement and exchange.”
On the other hand, software solution provider TAS works with several commercial and central banks across Europe and other parts of the world. Moreover, TAS is also the main broker-dealer of the Global Fortune 500. The company has also got its Financial Services centers in Italy and Europe.
Apart from being the biggest payments carrier in Europe, TAS also has a global presence across 7 countries. TAS serves 150 clients worldwide and also manages over 100 million cards globally. Dieter Schoene, managing director of TAS Germany said:
“We have been actively monitoring the blockchain market developments from the beginning, years ago, being the first Italian vendor to implement in 2014 a Ripple driver in our interbank payments hub allowing Banks to pilot and evaluate the Ripple value proposition for cross-border real-time payment transactions”
In one-page , the TAS Group also shares how the existing payment systems are ailing with inefficiency. Some of the common problems include high transactions fees, over 2 days settlement times, lack of visibility, multiple failure points, and much more.
XRP Liquidity Getting a Huge Boost
Just as Ripple is making important partnerships, the native XRP token is gaining more grounds. This week itself, the liquidity is getting a huge boost as the crypto token makes it way to a payment platform, exchanges, wallets, and lending provider. XRP enthusiast Leonidas shares information regarding the same on his Twitter.
Since Monday
1 payment platform
9 exchanges
4 wallets
1 lending provider
and its still Thursday
— Leonidas (@LeoHadjiloizou)
XRP is currently the third-largest cryptocurrency with a market cap of over $20 billion. At the press time, XRP is trading at $0.51.
XRP 1000x Faster and Cheaper to bitcoin
In a recent on Bloomberg TV, Ripple CEO Brad Garlinghouse spoke at length about and XRP. Garlinghouse talked about Ripple’s association with other companies in the crypto space and global financial institutions. Moreover, he also spoke on how XRP can be a useful commodity. He also said that XRP’s long-term growth will depend on the problems it solves.
Note that both Ripple and XRP are independent of each other. However, Garlinghouse said that just like Ripple XRP aims to solve real-world problems. The Ripple CEO further added:
“Yes, there is a lot of speculation and hype about Ripple and the crypto community as a whole. What we need to do now is to separate the two from each other and focus on expanding the real world use cases.”
Pitching XRP in a straight comparison with bitcoin, Garlinghouse said: XRP’s services are a “1,000 times faster than bitcoin [BTC] and a 1,000 times cheaper than bitcoin”.
There are less than two days left until the bitcoin Cash (BCH) network faces a contentious hard fork and BCH markets are showing some unusual activity. They are being driven by heavy trading volumes that have doubled in the last two days, while BCH/USD short positions on Bitfinex have touched an all-time high. At the moment, bitcoin cash is trading for $529 per coin with more than $900 million worth of global swaps in the last 24 hours.
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Cryptocurrency Rally Stalls
As news.bitcoin.com stated during our last markets update, all eyes are on cash prices before the pending fork and this is still the case. On Tuesday, Nov. 13, the overall is valued around $214 billion with over $13.3 billion in global trade volume over the last day. Currently, core (BTC) prices are hovering around $6,359 with a market valuation of about $110.4 billion. BTC prices are down 0.64% over the last 24 hours and down 0.95% for the last seven days. The second highest valued market held by is valued at $21.5 billion today and one ETH is swapping for $209. has dipped in value as well and the token is down 0.12% over the last 24 hours. Spot markets show one XRP is trading for $0.52 and ripple trade volume is around $579 million. Lastly, markets are down quite a bit as markets have lost over 3% today and one XLM is trading for $0.26.
Top 10 digital asset markets on Nov. 13, 2018, 12:00 p.m. EST.
bitcoin Cash (BCH) Market Action
Even though it looks as though some of last week’s spurred digital asset rally has stalled, a lot is going on behind the scenes. One BCH is trading for $527 per coin and the total market valuation is around $9.9 billion this Tuesday. According to statistics, bitcoin cash has the fourth largest trade volume just below tether (USDT) and ETH. This is because BCH trade volume has spiked considerably over the last day as the 24-hour volume is steadily approaching $1 billion. The trading platforms swapping the most BCH today include Lbank, Okex, Binance, Hitbtc, and Bitfinex. BTC is the largest pair trading with BCH and captures 39.5% of the market. This is followed by USDT (30.9%), USD (12.4%), ETH (7.1%), and QC (3.8%).
bitcoin cash daily chart on Nov. 13, 2018, at 12:00 p.m. EST.
BCH/USD Technical Indicators
Looking at the 4-hour chart and the daily on Bitfinex and Bitstamp shows BCH bears have managed to push the bitcoin cash price down and suppress the value over the last few hours. Similar to our last markets update, the short term 100 Simple Moving Average (SMA) is still well above the long-term 200 SMA trendline. This confirms the path toward the least resistance is still the upside at the time of writing. On the 4-hour chart, the Relative Strength Index oscillator is meandering in the middle (44-56) and not giving much indication toward the next move.
BCH/USD Bitfinex 4-hour. Nov. 13, 2018.
Order books show bulls need to surpass the current suppression and prices above the $560 range to gain some more leeway. On the backside, order books show some solid foundations between the current vantage point and $485. Again, there is a massive buy wall at $445 which could hold for a decent period of time. However, the moving averages and current MACd show things may not be so dismal in the short term and the massive trade volume injected in the BCH ecosystem in the last 24 hours suggests a quick and unexpected trend change could definitely be in the cards.
BCH/USD 30-min. on Bitstamp. Nov. 13, 2018.
Chain Split Token Markets and Short Positions
As mentioned above, the clock is ticking towards the pending bitcoin Cash network fork slated for Thursday, Nov. 15. Additionally, BCH/USD short positions on Bitfinex are still riding at the moment with people betting the currency’s value will plummet. Yet some traders believe the massive BCH daily trade volume coupled with short positions at an all-time high is a recipe for danger for margin traders without equity and many short positions could get “rekt.”
BCH/USD short positions on Bitfinex. Nov. 13, 2018.
Many traders have also been watching the BCH futures markets on Poloniex with and being swapped against USDC and BTC pairs. At the moment, BCH-ABC is trading for $385, USDC and BCH-SV is around $139 per token. Moreover, Bitfinex has introducing new “chain split tokens” (CSTs) on Nov. 13 allowing traders to swap futures with the CSTs that have the dedicated ABC and SV symbols “BAB” (ABC implementation) and “BSV” (SV implementation). It’s safe to say that lots of eyes will continue to remain focused on the BCH market activity and possible reaction before the fork.
Where do you see the price of bitcoin cash and other coins headed from here? Let us know in the comments section below.
Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither .com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
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