Ripple has now released ripple 1.1.0. This now makes it possible to authorize a particular address to send you money, whiile denying the same right to other addresses. According to the explanation on the XRP ledger developer portal, the whole idea behind this is to comply with future financial regulations. That’s because as decentralized systems become more entrenched in finance, regulators may come up with new anti-money laundering laws that require the recipient of a digital asset to know the source of the money recieved.
Ripple 1.1.0 goes to show the forward thinking nature of XRP, and its strong intent to take over the global banking industry, while remaining compliant to financial regulations. Compliance to regulations will be the key factor that will make or break most cryptos. That’s because the world today is full of complex problems including terrorism, drug trafficking and many others that most cryptos today haven’t figured a way around. As such, ripple 1.1.0 is a huge positive addition to the intrisic value of XRP (XRP).
The release of ripple 1.1.0 comes just a few weeks to SWELL 2018, a ripple event that will be attended by key policy makers, and financial industry players from all over the world. Some of the key speakers at this event include Bill Clinton, Gene Sperling and central banks heads including Marcelo Yared, the CIO of the Brazilian Central Bank. From its speaker’s list, it is clear that ripple’s reach is now truly global, and could be poised to replace SWIFT as a global cross-border payments method. Global bankers and policymakers would not be talking at this event if ripple didn’t have a strategic value to the future of banking.
Investors are expectant that during this event, ripple could make an announcement about some more banks that are going live with XRP. Not that they can’t announce it at any other time, but the fact that this is a huge event and highly anticipated by the community could as the perfect time to make this announcement. Ripple has consistently maintained that several banks will go live with XRapid in 2018, and any announcement about this at the beginning of Q4 would have a huge positive impact on XRP going into 2019.
From the charts, it is visible that XRP is building up momentum ahead of the October 1st event in SWELL San Francisco. That’s because on the weekly chart, there is slow build up of buying volumes. The XRP weekly chart is also starting to range at around $0.25 – $0.30, after a series of hard drops earlier. That’s an indicator that at this price level, buyers are outpacing sellers, and that the market, and could be primed for a breakout. An upside breakout at this price level could see XRP (XRP) easily test $0.62, which is the first resistance level in the weekly chart.
If whatever transpires out of SWELL 2018 beats investor expections, then XRP (XRP) could retest $1, which is the next key resistance level on the weekly charts. Essentially, SWELL could be the event that triggers an XRP rally that lasts all through 2018. As the good news continue to build up around XRP, it won’t be long before it explodes in value. At this point, ripple taking over the banking sector is pretty much clear for all to see. It’s positioning itself to become the standard for interntional transactions, and will solve a multi-trillion dollar problem. With that, even a +$500 valuation as many speculate could be a reality. It’s definitely within the realms of the possible.