X-rapid live at FI since 18th of Jan?

There seems to be some evidence from the xrp ledger that a deployment of x-rapid may have been live since the 14th-18th of January. If not that, then at least some large Financial institution has been testing it since that time and may be ready go live soon. First, the payment ledger that has gone via Bitstamp has increased by a solid 4-5 million a day on average which would indicate some consistent use of either X-rapid or Corda Settler and second the number of ledgers and payments suddenly spiked and stayed high since the 14th-18th and they match up very nicely. I think this is very likely either a live deployment or a big test by a financial institution.

Advertisement

XRP and Numbers that will effect price

So recently there has a lot of good news about XRP but price has not moved any. I think the reason is because people have speculated XRP’s price as high as they are willing to speculate without the actual utilization of XRP. If you look at xrpcharts, the ledger payment volume has remained about the same since xRapid’s launch. This means that xRapid is not really seeing any additional use right now, despite all the partnerships. In the case of actual x-rapid use, we would see the total XRP trade volume increase as well as ledger payment volume increase and it would be a sustained increase, not $1 billion one day and back to $100 million the next day. When you click on the ledger payment volume, you would also see more exchanges, rather than 95% blue XRP, which I think means wallet to wallet transactions and not via an exchange. Until I see consistent volumes over $300 million per day on the payment ledger, I cannot say that there is significant X-rapid use.

Ledger X Launching Ether Options

Ledger X is launching Ether Options as soon as they get approved by the CFTC. They were the first to launch Bitcoin options last October which spurred places like CBOE to launch them as well. I expect perhaps a slight boost in ETH prices when this first comes out but in the long run I am not sure if this is good for Ethereum as I believe the futures market and all the short-sells have dragged Bitcoin down this year.