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XRP Trades at Past $1 – Targets Thailand and South Korea for Adoption

Gaurav Roy by Gaurav Roy
August 12, 2021
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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.

XRP Trades at past 1 Targets Thailand and South Korea for Adoption
Ripple became partners with a South Korean remittance service provider.

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.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: crypto adoptioncrypto marketcrypto tradingcryptocurrencydigital assetpartnershippriceremittanceservice providerSouth KoreastablecoinsThailandtrading
Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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