New York, USA – XRP trades at $1.09, a 24.62% boost at the time of writing. In the previous partnership with GME Remittance, Ripple targets the crypto market in Thailand and South Korea.
XRP recorded big gains in the previous days, and now, the price sits at $1.09. The performance of this crypto leads the market capitalization at $48.45 billion, with a trading volume of $7.21 billion.
The price recorded on August 10 had a big boost, which was $0.803. As the XRP/USD increases, a double bottom technical pattern is seen on the chart. Despite the increase, the price might still signal a weakness.
Over its $1.09 price, the next big resistance might come from the price level of $1.29 before it moves from $1.76 to $1.81. The peak meets the resistance levels of $1.30 and $1.76, but if the price drops below $1, support might be at $0.90.
Along with XRP price’s increase are the partnerships of Ripple with different funding institutions, like GME Remittance. Now, it partnered with a remittance service provider in Korea, which targets to use this digital asset in its country and Thailand through Siam Commercial Bank or SCB. The said remittance provider would utilize RippleNet as per the blog post of Ripple.
As per Ripple, through partnerships with different funding institutions, there’s a solid manifestation in South Korea. Also, it involves money transfer companies, such as Sentbe, Hanpass, and CROSS ENF.
According to the COO of GME Remittance, Subash Chandra Poudel, the company selected Ripple as their partner because they can launch RippleNet in different countries in two weeks or less.
The ongoing case of Ripple filed by the US SEC or Security Exchange Commission is not close to stopping the blockchain company from developing its business outside the US. As per the previous market report of Ripple, it soared with an ADV or Average Daily Trading Volume of $4.49 billion during the second quarter of this year.