Ripple XRP / USD has increased from $ 0.74 to $ 1.30 since early August, and the current price is around $ 1.17. The current trend of this cryptocurrency remains positive and at the moment there is no risk of a trend reversal.
Fundamental analysis: Ripple announces partnership with Global Money Express
Ripple offers the most advanced blockchain technology for global payments, enabling financial institutions to expand into new markets around the world. More than a third of the world’s 100 largest banks have tested or are already using this payment technology, and it’s important to mention that the companies and people who serve it have access to an open and inclusive system regardless of their location.
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Ripple’s blockchain technology improves the speed, cost, and reliability of transactions. Brad Garlinghouse, CEO of Ripple, said the transaction volume of this cryptocurrency is expected to continue to grow.
According to the latest news, Ripple has announced a partnership with Global Money Express, one of the largest non-bank remittance service providers in South Korea. Global Money Express has partnered with Siam Commercial Bank (SCB), Thailand’s largest bank in terms of market capital, via Ripple’s global financial network technology RippleNet to expedite and scale payments from South Korea to Thailand.
We chose Ripple as our partner because with RippleNet we can start with new partners in new countries within 1-2 weeks. This has drastically reduced time to market and gives us an edge over our competitors. Since the beginning of our partnership, our team has benefited from the robustness of RippleNet, where transactions are tracked at every step of the process, making it easy to send money across borders with speed and transparency, said Subash Chandra Poudel, director and COO at Global Money Express Co. Ltd . (GME Remittance).
August was a very positive month for the cryptocurrency market; The prices of most cryptocurrencies rose; However, if Bitcoin’s price drops below the $ 45,000 support level, it could put pressure on the entire cryptocurrency market.
Technical analysis: Bulls retain control over price developments
The price of Ripple (XRP) has skyrocketed since early August, and this cryptocurrency continues to be in a bull market. If the price rises above $ 1.40 in the coming days, that would be a signal to buy XRP and the next target could be $ 1.50.
There is no risk of trend reversal for now, but if the price drops below the $ 1 support it would be a clear “sell” signal and the next target could be around $ 0.80.
Ripple’s (XRP) price has risen sharply since early August, and if it climbs above $ 1.40, the next target could be around $ 1.50. Ripple is constantly adding new customers, and according to the latest news, Ripple has announced a partnership with Global Money Express, one of the largest non-bank remittance service providers in South Korea.
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