Philstar.com

October 25, 2021 | 6:15pm

Ripple, the leading provider of enterprise blockchain and crypto solutions for cross-border payments, announced new milestones in its partnership with Tranglo following Ripple’s intent to acquire a 40% stake in Asia’s leading cross-border payments specialist in March 2021 to scale the footprint of RippleNet, Ripple’s global financial network, in the region and beyond.

The partnership has demonstrated significant momentum within six months, with Tranglo launching its first live On-Demand Liquidity (ODL) service on RippleNet in the Philippines, and with plans to introduce more corridors in the months to come. 

The Philippines is Asia’s third largest remittance-receiving country, where funds sent home from Filipino Overseas Foreign Workers are an economic lifeline. ODL leverages the digital asset XRP for instant and low-cost cross-border payments, eliminating the need for costly pre-funded accounts.

In addition, Tranglo’s cross-border payments expertise has played a critical role in meeting customer demand and supporting…

• XRP price is sitting above a key support level amid a prevailing downtrend.
• If Ripple fails to hold above $1.07, the token may see further decline toward under $1.00.
• The governing chart pattern suggests that XRP price could plunge 9% toward $0.97.

XRP price is trapped within a recent downtrend as the momentum has flipped to the downside. Ripple lagged behind while other cryptocurrencies, including Bitcoin and Ethereum, recently witnessed rallies reaching new all-time highs. If the cross-border remittance token fails to hold one crucial foothold, it could continue to edge lower. 

XRP price at risk of 9% decline

XRP price has formed a descending parallel channel pattern on the daily chart since October 9, printing lower highs and lower lows, unable to escape the governing downtrend. 

Ripple is in danger of further decline as XRP price is edging closer toward the ascending support trend line that started forming on July 20. 

However, XRP price will be able to discover meaningful support at $1.07, where the 50-day Simple Moving Average (SMA), the ascending support trend line, the middle boundary of the prevailing chart pattern, and the 61.8%…

Singapore: Ripple, the leading provider of enterprise blockchain and crypto solutions for cross-border payments, announced new milestones in its partnership with Tranglo — following Ripple’s intent to acquire a 40% stake in Asia’s leading cross-border payments specialist in March 2021 to scale the footprint of RippleNet, Ripple’s global financial network, in the region and beyond.

The partnership has demonstrated significant momentum within 6 months, with Tranglo launching its first live On-Demand Liquidity (ODL) service on RippleNet in the Philippines, and with plans to introduce more corridors in the months to come. The Philippines is Asia’s third-largest remittance-receiving country, where funds sent home from Filipino Overseas Foreign Workers are an economic lifeline. ODL leverages the digital asset XRP for instant and low-cost cross-border payments, eliminating the need for costly pre-funded accounts.

In addition, Tranglo’s cross-border payments expertise has played a critical role in meeting customer demand and supporting existing RippleNet corridors in Asia Pacific — with multiple fiat connections already established with existing…

It’s been over three months since I last wrote on Ripple (CCC: XRP-USD ) in July. At the time, I was wondering how long it would take for the cryptocurrency to hit $ 3.50, a price prediction made by FXStreet based on the assumption that it held a key support level.

Now, there was something in the prediction. Since my article, the price of XRP-USD has appreciated 93% and is trading above $ 1. The momentum is therefore definitely on the coin as we approach 2022.

However, the October 6 announcement by MoneyGram International (NASDAQ: MGI ) that it is partnering with the Foundation for Stellar Development , the folks behind Star Lumens (CCC: XLM-USD ) and the Stellar blockchain network, as well as Circle , the group behind the USD Coin (CCC: USDC-USD ), suggests that investors should be at least a little concerned about the shift in allegiance.

Here’s why.

Ripple has come a long way

In 2021, according to Coindesk.com, XRP-USD is up 392% through October 19. By comparison, Bitcoin (CCC: BTC-USD ) appreciated only 119%. Of course, I’m just saying joking. I’m sure longtime coin holders have been very happy with their returns since the start of the…

Terra Luna has shown strength since late July; it has been making gains continuously, despite the bearish period during September in the crypto market. At the end of July LUNA/USD was trading around $5, while earlier this month it touched $50, and judging by the price action, this crypto will probably make new record highs soon.

The previous high at $23.50 turned into support for Terra LUNA during the deep pullbacks in September, then the 50 SMA (yellow) caught up with the price and it seems like this moving average has turned into support for this crypto now. Terra Luna is about to burn about $10% of its token supply, which removes these coins from circulation thus helping increase the demand and the price for this crypto, so new highs above $50 are the next target now.

Ripple H4 Chart Price Analysis

XRP/USD trading sideways again

Ripple has turned into one of the most boring cryptocurrencies out there, with very slow price action. It was performing well until early September, but since the second crash in the market this year, Ripple hasn’t recovered and it is missing the bullish run of October in the crypto market, while some crypto coins like LUNA keep making new highs.

The…

A widely followed crypto analyst is bullish on five altcoins following Bitcoin’s (BTC) big push to fresh all-time highs.

The pseudonymous trader known as Credible Crypto tells his 251,200 Twitter followers that whales appear to be accumulating Convex Finance, whose CVX token powers the Curve Finance decentralized exchange (DEX).

 

“Another million-dollar purchase of CVX from the pros at a price of $21.53 per CVX. Yeah, you’re still early.”

Credible says that XRP is looking strong, despite Ripple’s legal battle with securities regulators in the US.

He expects XRP to turn a historic level of resistance into support, clearing the way for a major rally.

“Can’t get over how great this chart looks. From a technical perspective, I struggle to see how an analyst can make an objectively bearish case for this chart.

When we break up here soon XRP is going to melt faces.”

The analyst says that Ethereum (ETH) is poised to reach new heights, following in the footsteps of Bitcoin’s recent record-breaking ascent. ETH is currently trading at $4,118, according to CoinGecko.

As for the digital asset of the decentralized public network…

Billionaire investor Mike Novogratz  says a “new phenomenon” of community resilience has led XRP’s price to triple despite an ongoing lawsuit by the U.S. Securities and Exchange Commission (SEC). 

Former hedge fund manager Novogratz is the Founder and CEO of Galaxy Digital, “a diversified financial services and investment management innovator in the digital asset, cryptocurrency, and blockchain technology sector.”

Novogratz, who founded Galaxy Digital in 2018, says XRP’s price has managed to thrive despite increased scrutiny by the SEC.

The regulatory body filed a lawsuit against XRP creator Ripple Labs in December 2020, alleging the company had engaged in the sale of an unregistered security. The price of XRP at the time of the suit’s filing was $0.40, nearly a third of today’s price.