Ripple On-Demand Liquidity – Ethereum Istanbul Early Arrival

Steven Anderson By Steven Anderson October 2, 2019 Off
ripple

The payment messaging system of Ripple has been branded as xCurrent and considering the On-Demand Liquidity Ripple seems to have renamed the technology.

A message about using On-Demand Liquidity read thus: “International payments, particularly in emerging markets, require that businesses hold pre-funded accounts in their destination currencies. It is a costly endeavour which ties up resources. RippleNet has come up with an alternative.

While any financial institution on the network enjoys reliable, instant and lower-cost transactions, those who use the digital asset XRP to source liquidity can do so in seconds—freeing up capital and guaranteeing most competitive rates available today.”

The API solution of the company is made in a way to move money in and out of the emerging markets. However, Ripple has not commented on these changes.

XRP had an active recovery on Monday, and the token has moved into a new momentum.  The strong resistance for the symbol is seen at $0.02600.  There have been 6% gains since the beginning of the day. Ripple further advanced its recovery, it is expected for a new resistance at 0.273 USD.

The price of the ETH is looking to break the $185 resistance, and this is important if the token should trend higher in the forthcoming sessions.

There was a corrective increase seen in the price of the ETH above the $170 level versus the USD. The MACD for ETH/USD is losing momentum in the bullish zone.  The RSI is above 50 degrees.  Major support level is seen at $175, and a significant resistance level is seen at $185.

The Istanbul upgrade of Ethereum has arrived early. 

Hudson Jameson, Ethereum Foundation community manager, tweeted:  “This is what testnets are for! Be aware that Ropsten will be unstable until this all plays out.”

This was initially expected to happen on October 02, 2019, but this happened a couple of days earlier on Sept. 30 at roughly 3:40 a.m. UTC.  The unusually fast block confirmation rates are the cause of this early activation.

The hard fork caught several miners off guard due to early arrival, and several miners are continuing to use the outdated chain.  Others are using the upgraded chain.

The recovery of the price of ETH towards $200 is a possibility for as long as the price sustains beyond the $170 mark. Initial resistance by the Bollinger band is seen at $184.70 once it is out of the way, then the next bullish stop will be at $200. 

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