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XRP Price to Go Down, Says Analyst, As Ripple Buys Crypto Trading Firm Algrim in Iceland

  • Yuri Molchan
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    An analyst says that the XRP price is likely to keep descending, even though Ripple has just expanded its influence by acquiring a crypto trading firm in Iceland

XRP Price to Go Down, Says Analyst, As Ripple Buys Crypto Trading Firm Algrim in Iceland
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An analyst from tradingview.com has recently posted a chart, saying that the XRP price has made a breakout from the triangle and is most likely to keep going down.

The price is made a breakout from the triangle and it's huge probability that it can continue to move down! Potential profit will be in 3 times bigger than risk.

At press time, XRP is trading at $0.25, showing a 5.97-percent rise.

XRP Price 09/30/19
Image by Coinstats

Still, the good news is that Ripple has acquired a crypto trading company Algrim based in Iceland.

Ripple busy building a new product – On-Demand Liquidity (ODL)

The team of the new company will help Ripple in creating its new product that will use XRP for transnational payments – On-Demand Liquidity (ODL). The crypto giant is going to cooperate with its new partner in Iceland for hiring more talented engineers.

Ripple’s Christopher Kanaan, in charge of the engineering division, commented:

With built-in expertise in trading and exchanges, the addition of Algrim’s engineering talent to our team will be instrumental in continuing the momentum we’re already experiencing with On-Demand Liquidity.

We’ve been committed to sourcing expert crypto and trading talent in key global markets since day one, and the acquisition of the Algrim engineering team is a successful example of doing just that.

Over the past few years, Algrim’s crypto trading platform has been working with over 25 markets. The team also has a lot of experience in creating regular trading platforms and algorithms for trading foreign exchanges.

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Other recent Ripple’s acquisitions

As reported by U.Today earlier, Ripple acquired a payment platform Logos. Teaming up with it, Ripple intends to build an Internet of Things and use XRP in new decentralized finance solutions that Logos is working on at the moment.

Previously, Ripple signed up the second largest bank in South Korea to RippleNet, expanding the network of its partners.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
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Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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