Ripple (XRP) CTO: Existing Security Laws Vague, Hinders Development
Ripple prices stable below 34 cents
Security laws relating to blockchain still fuzzy says, David Schwartz
Transaction volumes shrinking as prices consolidate
Bitcoin (BTC) Price Facing Uphill Task: Another Dip Before Higher?
Friday May 24, 2019
Bitcoin price declined recently and tested the key $7,500 support area against the US Dollar. The price rebounded and traded above the $7,780 and $7,850 resistance levels. Yesterday’s highlighted key declining channel is acting...
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David Schwartz, the CTO of Ripple Inc, believes that existing security laws are vague and are therefore a hindrance. Even so, he is confident and comfortable that Ripple (XRP) is a utility and security laws don’t apply. Perhaps this would help support prices and eventually firm the ground in readiness for higher highs.
Ripple Price Analysis
In an unregulated space of which blockchain applications are supposed to flourish in, the entry of regulators or third parties do slow down innovation but for good reasons.
By design and according to the original blueprints as laid out by Satoshi Nakamoto, the network should be completely decentralized with no point of weakness and high reliability. It is these properties that define blockchain. Unfortunately, this is where Ripple Inc critics have their reservations with XRP, the native currency of the XRP Ledger, questioning whether the coin has all the hallmarks of a utility token.
However, it is the never-changing position of Ripple Inc officials that is remarkable. Maintaining the same stance, David Schwartz strongly believes that XRP is not a security. While speaking at the SXSW Conference, the renowned coder said:
“Security law has not changed concerning blockchain technology… the SEC recently has talked about how they are going to think about how these tokens meet security laws. However, they haven’t given a black and white test. They’ve given a test, but it’s filled with vague terms.”
Bitcoin (BTC) Price Trading Sideways: Bulls Eyeing Fresh Increase
Wednesday May 22, 2019
Bitcoin price failed to gain momentum above $8,150 and $8,200 against the US Dollar. The price is slowly moving lower in a range and it could test the $7,700 or $7,660 support. This week’s...
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Perched at third, XRP prices are stable and consolidating inside a 4 cents channel. As emphasized in previous XRP/USD price analysis, we maintain a neutral position on the third most valuable coin.
Although we are bullish, it is after prices close above 34 cents—which is our buy trigger line—at the back of above average volumes, that risk-off, aggressive type of traders can begin fine-tuning and ramping up in lower time frames with first targets at 40 cents.
On the other hand, if XRP prices collapse below 30 cents then we shall cancel our trade plan. In that undesired case, it is likely that prices will tank towards 25 cents further fueling asset sell-off.
Trade averages stand at 15 million—after yesterday’s close. Because we are bullish, gains above 34 cents must be complete with high volumes exceeding 15 million averages or 61 million of Feb 24.
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A Bitcoin trader from India has taken his own life after being threatened by senior police in relation to losses he incurred whilst trading crypto assets on their behalf. Bharat Patel hanged himself on...
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