Ripple (XRP) at Major Inflection Point And Candles Warn Reversal. Ripple is following a path above the $0.2320
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AWS Partner Profile: Ripple
RippleNet is a decentralized global network of banks and payment providers using Ripple’s distributed financial technology, which provides real-time messaging, clearing,and settlement of financial transactions. Ripple connects banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally.
Key Ripple products that enable RippleNet members include:
xCurrent- Process Real-Time Payments
Ripple’s software, xCurrent, enables banks to differentiate themselves by offering new cross-border payments services while lowering their total cost of settlement. The solution is specifically designed to meet the needs of banks by fitting within their existing risk, compliance,and information security frameworks. Ripple’s software is installed within the bank’s infrastructure and is built to interface with the bank’s systems using an interface or through a translation layer that can consume traditional payment message formats to compress the integration time frame into weeks.
xRapid- Source On-Demand Liquidity
xRapid lets payment providers and other financial institutions minimize liquidity costs while improving their customer experience. Because payments into emerging markets often require pre-funded local currency accounts around the world, liquidity costs are high. xRapid helps to lower the capital requirements for liquidity. xRapid uniquely uses a digital asset, XRP, to offer on-demand liquidity, which lowers costs while enabling real-time payments in emerging markets. Built for enterprise use, XRP offers banks and payment providers an efficient, scalable, reliable liquidity option to service cross-border payments.
xVia –Send Global Payments with a Single Integration
xVia is for corporations, payment providers,and banks that want to send payments across various networks using a standard interface. xVia's simple requires no software installation and enables users to send payments globally with transparency into the payment status and with rich information, like invoices, attached.
RippleNet Use Cases
By joining RippleNet, banks, payment providers, exchanges, and corporates can address many commercial use cases, including:
International supply chain payments
Global currency account
International bill pay
Real-time remittances and international P2P payments
Ripple collaborates with financial institutions worldwide; more than 100 financial institutions have joined RippleNet, including:
Canadian Imperial Bank of Commerce (Canada)
Kotak Mahindra Bank (India)
Itaú Unibanco (Brazil)
Zip Remit (Canada)
Currencies Direct (U.K.)
SBI Remit (Japan)
Siam Commercial Bank (Thailand)
Is XRP bullish?
Ripple (XRP) at Major Inflection Point And Candles Warn Reversal. Ripple is following a path above the $0.2320 against the US Dollar . XRP price is likely to accelerate higher above the $0.2400 and $0.2420 resistance levels.
Marcus Treacher announced in an interview that Ripple will open up new payment corridors in Asia-Pacific, the Middle East and Africa.
Ripple aims to provide the payment solution On-Demand Liquidity to the local population to help them process cross-border transactions quickly and cost-effectively.
Marcus Treacher, Senior Vice President of Customer Success at Ripple, explained in a recent interview that despite the coronavirus, the company is planning to open up new payment corridors in Asia Pacific, the Middle East and Africa. Ripple will use the On-Demand Liquidity ( ODL ) payment service, formerly known as xRapid, to process cross-border payments quickly and cost-effectively.
Under ODL , XRP acts as a bridge currency between two Fiat currencies, eliminating the need for pre-financing through a nostro account. It also eliminates the risk of currency price fluctuations. As Treacher explained, the expansion of ODL is to be further advanced by the end of this year:
We have established On Demand Liquidity corridors into Mexico, the Philippines, Australia and Europe, and we’re hoping to further this expansion by opening corridors to APAC and EMEA this year.
Treacher stressed the need to support companies and individuals who are severely restricted by COVID19 and have no means of sending money home to their families without the inherent high fees and long transfer times. In response, Ripple has partnered with industry leaders to reduce or eliminate transaction fees during the pandemic:
Featured snippet from the web
PayID is a simple service that makes paying money into your account easier. You can create a PayID by choosing something easy to remember, like your phone number, and registering it with your bank. The next time you want someone to pay you, instead of sharing your BSB and account number, simply share your PayID.
In response, we’ve partnered with global financial institutions such as Azimo, TransferGo and Siam Commercial Bank to reduce or waive transaction fees during the pandemic.
Treacher continued to criticize the lack of initiative by major financial institutions to open up to the innovations of the blockchain market. Although not all projects are delivering promising results, Treacher said it was time for banks to move to the “next level of development” and offer customers modern services such as fast and cheap transfers worldwide.
BUY XRPUSD WE GOING TO THE MOON
ENTRY 1 $0.18580 & ENTRY 2 $0.17608 SL $0.16460
TP.1 $0.22468 --TP.2 $0.24580 --TP.3 $0.29468
TP.4 $0.34580--- TRAIL STOP LOSS FROM TP.3)
tp.5 $0.48468 tp.6 $0.68580 TP.7 $1.11
TP.8 $3.30--TP.9--$8.50--TP.10 $12.50
He describes that the average transaction costs of $14 for a global transfer are disproportionately high for a $200 transfer, and that smart systems such as RippleNet bring far-reaching benefits for the banks’ customers:
Innovation could be at the forefront of product development, combining the established reach and influence of traditional banks with the industry-leading tech and new talent at the disposal of fintechs.
Ripple plans further expansion in Asia with SBI
Ripple Partner SBI announced a few days ago that a pilot project is currently underway and SBI is completely satisfied with the results. The XRP-based platform is scheduled to go live by the end of the year. According to the initial results, ODL is far superior to traditional bank transfers, so that the adaptation in Japan will progress rapidly thanks to the company’s large network.
Major distribution territories: $0.22, $0.24, $0.26
• Major accumulation territories: $0.18, $0.16, $0.14
The market point between XRP and the US dollar yet continues trade around the same range trading territory of $0.20 mark as kept quite a while. Neither the base nor the counter has been able to make a significant move away from the range line.
All in all, XRP/USD buyers have been struggling to not to let down the crypto’s valuation goes below the previous low of $0.18 point. Meanwhile, bears have continued to press down the crypto’s price from a line a bit over the range trading area.
At the conference, Wind said that the mobile app is very easy to use and has stated that it delivers a user experience similar to traditional online banking i.e simple.
In this 2 Week chart of Ripple / United States dollar (XRP/ USD), there is a depreciating range from 0.5175 to 0.1105.
We can observe that the market then appreciated to the 0.206 level (identified by the yellow down arrow), just below the 23.6% retracement of the depreciating range at the 0.206552 level.