XRP Has Been Introduced as a Reliable Solution for Inefficient Transactions which Takes Days By The BBCDecember 1, 2019
Commercial Opportunities for Ripple is happening because the BBC recently spread a word about XRP in its telecast.
Nathalie Oestmann, the COO at Curve, stated, “Right now, if you are making a cross-border transaction, it is time-consuming. Clearing and settlement take days.”
XRP has been introduced as a reliable solution for inefficient transactions, which takes days.
Ripple has been triggering declines by breaking below the ascending trend lines. The support at $0.22 is critical for XRP, and the price should be defended for all fair reasons.
Ripple recently recovered from $0.2029 slowly and steadily. There was acute selling pressure at $0.2350. The retracement is underway, and the price has corrected below the 50 SMA and the 50% Fibonacci retracement level.
The Fibonacci retracement has come out of its support area, and in a state of volatility, the price is at $0.2210. The gap between 50 SMA and 100 SMA is narrowing. The Relative Strength Index is suggestive of a probable downtrend that might hit on the coming sessions on Monday. The declines below $0.20 should be avoided, and the bulls should keep the price above $0.22.
Traditional financial systems are progressively getting integrated with the cryptocurrency systems. Ripple recently increased its equity stake with MoneyGram International. Ripple primarily invested $30 million, contributing to its stake in MoneyGram to 9.95%; however, Ripple had obtained warrants, which provided it with the right to increase its stakes to approximately 15% in the future.
The last stock purchase of Ripple was at $4.10 per share. The purchase price is indicative of the fact that Money Gram is undervalued with significant upside potential. However, the bears are stating that Ripple is paying a premium so that Money Gram will be continuing to use the XRP in cross-border payments.
Alex Holmes, MoneyGram CEO and Chairman stated, “Our partnership with Ripple is transformative for both the traditional money transfer and digital asset industry — for the first time, we’re settling currencies in seconds,” Holmes further added, “This initial success encourages us to expedite expanding our use of On-Demand Liquidity.”
However, critics have to state that most of the efficiencies, which were obtained from Ripple’s payment technology are something that one can get without the use of XRP. However, the skeptics might be proved wrong if the financial institutions using the services can get tangible benefits by making use of the On-Demand Liquidity Service.
Partnerships of Ripple with institutions like MoneyGram are fueling its usage. The recent transactions of XRP went as high as 4 million in a day, which is comparatively better when compared to giants like Bitcoin and Ethereum.