United States – Ripple’s XRP and Bitcoin are two of the most trusted cryptocurrencies in the United States. Although XRP has barely increased in the few months, this digital asset has received more hype than Bitcoin.
While Bitcoin remains a digital currency for purchasing goods and services, Ripple improves its service as currency exchange, remittance system, and payment settling. Ripple’s mission is to provide a better and more convenient system for direct transfer of assets, such as money and gold, almost real-time.
According to the recent report, Ripple whale continues to accumulate large XRP supplies while XRP is bleeding out against BTC. It is hard to imagine Bitcoin when it is currently falling, but sometimes, there’s something more behind the scenes that the company plans for a massive move and change.
At the time of writing, Ripple has spent almost three years staying behind Bitcoin. Since mid-2019, XRP has done a lower trade while grinding lower. The silent XRP accumulation of whales matches the same scenario as Bitcoin did before its most recent breakout. Tons of whale-sized BTC wallets continuously increased until the supply was not enough to go around. Now, it could be Ripple’s turn.
According to some reports, one million or more Ripple XRP wallets have increased by at least 20%, while wallets with over ten million grew by 10%. With these percentages, prices rapidly increased, and thousands of investors worldwide tried to catch the breakout. When Ripple’s XRP broke out, the moves became very substantial, and the digital asset outperformed Bitcoin.
In the past few weeks, the public saw a sharp increase in Ripple’s resistance area. XRP price surged above the $0.25 level and settled very well. Indeed, Ripple has carved out a reliable niche in hosting cross-border payment than Bitcoin.
One of the prominent companies that partnered with Ripple is American Express, which moves corporate funds between the United Kingdom and the United States through Ripple’s remittance system. Millions of people will continue to consider XRP since it erases the inconvenience of transferring money across borders.
Currently, Ripple is the most highly adopted cross-border transfer payments. It enables customers to settle, clear, and message fund transactions quickly, unlike PayPal and Swift.
Undoubtedly, Ripple has plenty of potential in expanding easier banking access through efficient cross-border transfers. Since millions of people are still relying on cash to purchase and sell goods and services, Ripple strives to give more banking access to the unbanked population. Since Ripple offers a more accessible platform, it continues to attract more investors and smart investment decisions.
United States – In the past months, the world has seen a sharp decline in Ripple’s $0.2400 support area. The XRP price even broke the $0.2350 rate and traded as low as $0.2310. Fortunately, Ripple recovered nicely above the $0.2350 to $0.2380 and recently started a solid wave. Although XRP’s price action has been incredibly bullish, many traders and investors still set their sights on the benchmark cryptocurrency.
According to one analytics platform, XRP’s whale count continuously climbs higher, indicating that some wealthy investors are beginning to learn about cryptocurrency. At the time of writing, Ripple’s XRP exchanges at around $0.24, which is still an excellent price.
According to some critics, this rate will continue to grow since XRP had a break above a key bearish trend line on the XRP/USD pair chart. The pair will grow higher if XRP’s price exceeds the $0.2420 resistance zone.
Amid a difficult year for the crypt industry, Ripple’s executives, including David Schwartz, have guaranteed that they are trying to lead more global banks to use Ripple (XRP) to settle cross-border transactions. Schwartz wrote that it might take more time to gain an appropriate momentum, but Ripple is striving to build more partnerships.
Although PayPal did not include XRP in its supported cryptocurrency list, it is establishing some agreement with Australia’s PayID branded payment standard.
More people in the United States are now considering Ripple since its remittance system for payment networks, and banks are more convenient and faster. All transactions settle in almost real-time, more transparent, and cheaper.
Since Ripple does not use blockchain like Bitcoin, the company utilizes a distributed consensus ledger using crypto tokens. By converting traditional currencies like USD, the exchange fee and processing time are way lower.
Many reputable banks worldwide, including the Commonwealth Bank of Australia, Santander, and Fidor Bank, utilize Ripple’s payment system. These partnerships help companies to fund business operations and incentivize customers more conveniently.
Rumours have been circulating that Ripple is building better partnerships with some central banks worldwide. Currently, Ripple has met with Brazil’s central bank representative, but the meeting remains private and closed.
Recently, Ripple has caused quite a stir after sharing a tweet from Christine Lagarde, ECB’s executive, which supports Ripple’s state-of-the-art payment system and the complete banking capital market union.
Over the years, Ripple has certainly gained plenty of momentum in the market. The company has helped millions of people in transferring funds quickly and more affordably. Currently, Ripple only runs 100 million XRP in the market while the other 900 are in escrow.
United States – MoneyGram continues to become one of the most reliable US money transfer companies. Last October 30, 2020, the company announced its strategic partnership with the famous Ripple.
According to the report, Ripple will allocate $50 million to MoneyGram in exchange for equity during the two years. MoneyGram will also use Ripple’s xRapid service, a system that promotes instant and inexpensive cross-border payments across the world. MoneyGram will surely reach more customers since this platform is one of the fastest money transfers in today’s market.
Currently, MoneyGram only uses its traditional and old cross-border payment system. It holds foreign currencies in multiple bank accounts, making the money transfer more costly and restricted.
On the other hand, the xRapid service uses Ripple’s cryptocurrency called XRP. When a company initiates a payment or money transfer, the system will convert any initial currency into XRP, say dollars to XRP. Afterwards, the XRP amount will immediately convert into the destination currency, for an instant, XRP to Canadian dollars. Some institutions love this idea since they can save more money and time.
Since 2019, Ripple remains as one of the most reliable enterprise blockchain companies with payment products in commercial use. Ripple is very smart to establish a digital asset that enables users to rapidly and inexpensively source liquidity without compromising its excellent scalability, unlike other digital assets.
According to Ripple’s CTO, XRP continues to make steady progress and establishes difficult-to-match networks. The xRapid system’s design is very secure and uses an anti-robustness principle that prevents the platform from progressing with money transfers unless it is 100% safe. Ripple believes that this system offers a better solution for MoneyGram’s customers, especially those with unintentional forking and double-spending problems.
According to the most recent report, MoneyGram has received 111%growth in transactions and 114% growth in profits since October 2020. Currently, MoneyGram’s earnings stand around $8.9 million, all thanks to Ripple’s market development share. Many reports claim that Ripple paid a so-called “market development fee” to MoneyGram to incentivize the company in using Ripple’s products, especially XRP.
One MoneyGram employee confirmed that the company sells Ripple’s digital asses as fast as possible. The company aims to reduce operating costs and speed up cross-border payments.
With Ripple’s help, MoneyGram can surely process faster than other traditional systems, such as SWIFT and PayPal. Indeed, Alex Holmes, MoneyGram Chairman, and CEO guarantees that Ripple’s xRapid can dramatically streamline MoneyGram’s global liquidity management.
Japan – Since 2016, Japan’s SBI Holdings has established a close partnership with Ripple. The two companies founded a joint venture called SBI Ripple Asia. According to the latest news, Ripple will start investing in SBI’s MoneyTap. This platform uses Ripple’s latest blockchain technology that process cross-border payments cost-effectively and quickly.
According to the executives, this investment aims to drive better adaptation and development. By using MoneyTap, consumers can process and confirm money transfers almost in real-time through a QR code. Although this system has been active since 2018, it continues to attract more investors.
Through this latest Ripple investment, MoneyTap can further strengthen its partnership with Ripple and develop better and unique functions to improve the corporate payment function and small-amount collection service. Since MoneyTap aims to deliver an overseas remittance service, Ripple can help this platform make new improvements.
The MoneyTap application aims to convince people to take advantage of new technologies and use them for their businesses. By forming an ecosystem with reliable financial institutions, MoneyTap aims to deliver a customer experience that promotes peace of mind, affordable rate, and convenience. Thanks to MoneyTap’s superior architecture, many customers in Japan can enjoy a faster and cheaper money transfer experience.
Ripple’s investment in MoneyTap is great news since it sees it as an opportunity to reach more “unbanked” people who are not familiar with the convenient way of moving money in different borders. Like other blockchain networks, Ripple promotes money remittances that do not depend on one central authority to secure and manage their transaction database.
By adopting MoneyTap, more people can save on high interbank fees very usual in Japan. This application creates a more budget-friendly ecosystem that can help the public, especially those who need money during an emergency. With MoneyTap, users can secure their funds for day-to-day needs. It guarantees quick access to money within 24 hours.
This application has gained thousands of customers quickly since it features instant approval and transfer in minutes. According to some critics, MoneyTap has one of the fastest app-based approval processes in the industry. In a few taps, you can immediately transfer as low as ₹ 3,000 to your registered bank account.
Faster and trusted transfers are only the beginning of what MoneyTap can offer the market. With the latest Ripple investment, the application will surely grow and revolutionize the way transfers happen across Japan.
London, United Kingdom – The $10 billion financial technology company, also known as Ripple, is considering a new location for its headquarters due to the United States’ new regulatory environment. Fortunately, many countries have provided support assurances, including countries in Asia and Europe.
According to the company’s CEO, Bard Garlinghouse, he already visited London last month, and he finds it more XRP-friendly than other cities. Besides that, the United Kingdom is a clear taxonomy, which is great news for Ripple. According to Garlinghouse, XRP will not act as a security but as a currency in London. With that clarity, London can be very advantageous for Ripple.
Aside from the United Kingdom, Garlinghouse revealed that they also put other countries, including Japan, Switzerland, Singapore, and the United Arab Emirates, under consideration. These nations give more potential for Ripple than in the United States.
For over five years, many Asian countries, especially Japan and Singapore, have been using cryptocurrencies. Unlike in the US, these countries allow cryptocurrency platforms to operate and don’t conduct strict digital assets regulations.
Currently, Ripple is based in San Francisco and provides various cross-border payment services for many companies and institutions. Since 2018, Ripple’s marketing, sales, and holdings have reached millions. Unfortunately, they have been put under the United States’ regulatory review for “potentially violating” security laws. However, Ripple confirmed that they want to avoid further regulatory disputes, pushing the company to consider relocation.
Among all the countries that Ripple consider, Japan and the United Kingdom are the top priorities. According to the Financial Instruments and Exchange Act, these countries do not consider virtual currencies as securities. This digital asset has been legalized in Japan as a payment form since 2017 under the Payment Services Act.
Furthermore, London works very closely with SBI Holdings. This city is one of Ripple’s fastest-growing markets, and Ripple is looking forward to discussing it with London’s leaders. Another aspect is its popularity in the United Kingdom. According to Garlinghouse, many crypto investors in London prefer XRP to any other digital asset.
Brad Garlinghouse has revealed tons of insights about the company’s relocation. This enterprise is no longer safe in the United States, and moving to London, where XRP is considered a currency, is crucial. Although Ripple is still legally fighting against investors that claim XRP is an illegal and unsafe platform, it is clear that the company will continue operating under a safer and more welcoming nation.
USA – XRP/BTC pair falls at 2600 SAT Level, dropping the price below $0.25. However, an expert foresees that the XRP price can touch a $691-price level. Moreover, another analyst states that if it continues to stay at its level now, the price of XRP might increase to $0.30.
XRP Record Declines by 7% – XRP/BTC Pair Drops at 2600 SAT Level
The price of XRP recently was on a steady rise over the 100-day EMA. However, it had resistance at $0.25, wherein it influenced the price of the altcoin to drop under $0.25. The XRP price endured dropping until it had support at the 0.5 Fib retracement, which is around $0.218.
XRP price went back to a neutral exchanging zone after redoing under the $0.2345 level. The XRP altcoin will have to create a new base over $0.26 to be able to estimate bullish in the succeeding zone. If the price of XRP endures dropping under the $0.20 level, the market might be considered bearish. The main support levels are $0.218, $0.209, and $0.1850. Furthermore, the main resistance points are $0.2283, $0.234, and $0.25.
If XRP bulls can protect the present support level, which is at $0.218 and recoil, initial resistance sits at $0.228 and $0.234, which is on a 100-day EMA. Beyond this, the resistance is forecasted at $0.24 and $0.25 or 1.272 Fib Extension. Defiantly, the traders push the market price under $0.218. Furthermore, it supports the $0.203 or the 1.618 Fib Extension, $0.209 point or the 0.618 Fib Retracement, and $0.19.
The Relative Strength Index dropped under the 50 level, though it’s still trying to break above. We presently indicate indecision with the market, wherein it could steer in many directions. Moreover, the Stochastic RSI is in the overvalued zone, and it’s ready for a reliable cross-over indicator that might send the market more.
XRP/BTC continues to be maintained at the 260 SAT region, wherein it has barred the crypto market from dropping lower during January, aside from the 2540 SAT-short decline. It stays stuck in the range from 2600 SAT to 2710 SAY. Moreover, it’s a must in this range to define the next trend it might take.
The Relative Strength Index or RSI has dropped under the 50 levels, yet it’s struggling to break back over. Presently, the impetus Is plane, and XRP rice should increase moderately over the 50 levels. It will commence any price recovery form. Moreover, over the XRP/BTC pair, the support levels are 2600 SAT, 2350 SAT, and 2455 SAT. Furthermore, the resistance levels are 2710 SAT, 2800 SAT, and 2900 SAT.
When it comes to the price trend of XRP, a notable trader, Credible Crypto, termed the rise of Bitcoin to $8,000 when prices were at $6,000. It was based on a previous tweet that if this cryptocurrency holds the present price level, an increase to $0.30 might be expected in the coming weeks.
Analysts See the Chance for XRP to Hit $692 and Rally Higher
In the previous market performance of XRP, the digital asset is exchanging under the resistance level, which is at $0.32. Also, it trades over the $0.31-support level.
Ripple’s XRP is the leading altcoin that has witnessed a possible indicator to rally higher, disregarding how it looks comparatively uncertain while exchanging in a flag. Furthermore, the digital asset can break up or break down.
It is considering that the majority of the global payments established by banks are shortly to drift through the solutions of Ripple. XRP can earn a price level that’s up to 2000%. This price level can boost its market capitalization to $27 million. Also, it might touch a price level of $692.
In the previous week, the price of XRP was floating between ₵25 and ₵30. On the other hand, several experts stated that XRP has a significant possibility of earning traction.
The XRP price settled in the strong trend zone. The price of the cryptocurrency is observed to be exchanging in the support region, which is an outcome of a range-bound action. There’s also a price rejection, which is at $0.32 resistance level. Hence, the price dropped to $0.31.
If the price breakdown happens at the resistance period, then it will have a support level is at $0.28. Also, the stochastic failed to remain in the overbought area, which is under the 60% range. It suggests that XRP is located in the bearish zone. It also displays a trade signal.
More banks are adding to Ripple’s network. The company is presently working as the code offers for a virtual copy of the physical clearinghouse structure.
Although the blockchain has direct independence from Ripple Labs, it’s still controlling the money supply, which is at 50%. The firm offers the utilization of servers in the banks-validators’ decentralized system. It removes the clearinghouse office since the company doesn’t facilitate PoW and PoS. It also calls for an additional accord algorithm.
Ripple is prepared to provide a two-layer protocol, wherein it’s designed in facilitating payments. The firm targets to decrease the risk of coin holders, and it was probable by delivering the payment layer to funding institutions, such as banks. Furthermore, users can send digital assets or gold by using the settlement layer.
For the second layer, average users can utilize the “freely available token.” The payment is for the legit KYC, and anonymous.
As per the information, if cross-border payments by banks become a share of the network of Ripple, then the level of XRP price will surge higher.
XRP May Increase to $0.30 If It Stays in This Level
In the previous days, digital asset witnesses a quick collapse, dropping by 10% from the highs of the previous week. Bitcoin was changing for $8,200, wherein it dropped 10% from the $9,200 price last week that ended a December low’s rally at 43%.
While prices recovered partly, with the cryptocurrency market earning 3% in the previous 24 hours, experts have marked that digital assets through the board are very significant price levels.
A famous trader, who called the increase of Bitcoin to $8,000s during the $6,000s price, debated in a previous tweet that if XRP continues to hold the present price level, a boost to the $0.30 might happen in the coming weeks.
A famous XRP and market commentator, Credible Crypto, previously stated that after following his price forecast to a T, Ripple’s XRP would have to hold the price from the $0.2142 to $0.2150 area. He stated that if the digital asset does not maintain the level, it may not achieve his prediction about the digital asset’s surge to $0.26 by February.
It’s not only Credible Crypto who’s anticipating the XRP price to drive to $0.30.
The famous market critic referred to as Galaxy mentioned in a previous report that XRP is looking prepared to rally 20% or higher to the price of $0.28. It drew the attention to the presence of an uptrend, and the asset flipped several significant resistances to supports, boding for the strong case.
Another trader stated that XRP has begun to conclusively break out of the dropping wedge pattern that constrained price action for the previous seven months. The digital asset overcame a significant horizontal resistance that’s vital on a macro basis.
The trader recommended that he anticipates for XRP to hit the 0.382 Fib retracement of the whole dropping wedge in the forthcoming weeks. He also suggests a 25% rally to a $0.30-price on the prospect.
According to Josh Olszewicz from Brave New Coin, if Ripple’s XRP achieves to break over $0.30, it might rally 66% to a $0.50-price in the months succeeding the event. It’s where the present historical resistance is as per the Volume Profiles.