Ripple seems to be getting a step closer to achieving its vision of developing the new Internet of Value. As stated on 2 October Ripple declared the evolution of Xpring – “now the open development platform for money,” to make Xpring a global network for developers. The platform is said to operate in the area of money transfers via Xpring.
Ethan Beard, Senior Vice President of Xpring, elaborated on the same in an interview and said,
“It’s designed to remove the pain and the messiness of integrating money into apps”
Users of the platform will be able to avail services, and programs for developers to send and accept payments in any currency and across any network, using XRPL and Interledger protocol, described Ripple via a blog. Currency, here entails the use of fiat currencies and cryptos, Beard detailed in the interview.
With the intention of bringing money to the Internet like images, texts and videos do today, Xpring’s new platform seeks to remove the strain and messiness of integrating money into apps. However, Xpring’s new developers’ platform stands out as it is permitted for all developers and not limited to just developers in the blockchain and crypto space. Beard further detailed,
“More specifically, what we’re aiming to do with the platform is provide developers with various tools, services and programs to make it easier for them to build on [the] XRP Ledger and to leverage Interledger Protocol.”
While several companies and crypto platforms focus on boosting the mass adoption of cryptocurrencies , Ripple too has been trying to implement similar offerings including value transfer solutions, similar to AWS for money.
Litecoin’s ailing price prepares for breach of descending channel
Litecoin noted a sharp fall on 15 November, a fall that caused its price to fall from $59.97 to $55.63. This 7.24% fall was followed by the price of the coin climbing up. However, it fell soon after the rise. The price of Litecoin at the time of writing hovered at around $58.07 with a market cap of 3.75 billion, while noting a trading volume of $2.90 billion.
Despite the falling price, however, Litecoin noted the formation of a bullish pattern that might provide a boost to its price.
The hourly chart for Litecoin [LTC] saw a descending channel extending along with the falling price. The pattern, characterized by two sloping trend lines, marked the lower highs of LTC at $60.26, $59.16, and $59.03 and lower lows at $59.38, $58.94, and $58.53. As the price remained constricted within the downward trend, a breach in the pattern might lead to the price of LTC surging.
The 50-day moving average underwent a crossover with the 100-day moving average, indicating a bullish move. The 100-day moving average dominated the LTC market for over five days and the coin lost 4.08% of its value. However, with the 50-day MA leading the charge, an upward surge might be coming soon.
The MACD indicator noted strong bearish momentum in the market, as the MACD line remained dormant under the signal line. On the other hand, the Relative Strength Index highlighted a change in tides as the signal line bounced back from the oversold zone and was pointing up.
Litecoin’s falling price might find respite with a breach of the descending channel. However, the coin might undergo further devaluation before it could note a spike.