XRP Surges as AMEX Teams up with Ripple

XRP Ripple: XRP had a rollercoaster ride on Thursday on the news that American Express has teamed up with Ripple for cross-border payments.

This partnership with Ripple will enable instant blockchain-based payments for U.S. corporate customers sending funds to U.K.-based businesses that bank with Santander U.K.

XRP surged to the one-month high level of $0.2668 as the Ripple-AMEX partnership news broke out. However, it quickly erased most of the gains and closed Thursday’s trading session at the key pivot level of 0.2233. It then started Friday’s Asian session below the Ichimoku cloud. The future cloud on Ichimoku Kinko Hyo’s daily setup remains flat, although slightly bearish.

xrp surges as amex teams up with ripple - XRP Surges as AMEX Teams up with Ripple
XRP-Ripple-Technical-Analysis

With this, we could expect XRP’s range trade to continue for a bit more longer against the US dollar. The median range price for the pair appears to be between the 23% and 61% Fibonacci retracement levels at 0.1890 and 0.2790 respectively.

The Fibonacci setup retraces the major downtrend XRP saw after its ICO price of 0.3729, all the way down to the all-time-low price of 0.13.

The Ripple-AMEX blockchain project allows payments made by American Express’ business customers on its  FX International Payments (FXIP) platform to be routed through Ripple’s enterprise blockchain network.

With this, Ripple believes that its cryptocurrency, XRP, will “come into play” as a means of speeding up payments later on down the line. This could explain the initial surge as the news broke out.

This marks one of the first major uses of the blockchain industry. Financial firms hope the technology can reduce the cost and complexity of processes such as securities settlement and international payments.

READ  Another Fork? Bitcoin Gold Project Plans to Fork Bitcoin Next Month

In a statement Ripple’s CEO Brad Garlinghouse said that transfers that used to take days “will be completed in real time.”

American Express’s chief information officer Marc Gordon said in a statement that American Express has “a long history of integrating new technologies,”  and that this collaboration with Ripple and Santander “represents the next step forward on our blockchain journey, evolving the way we move money around the world.”

Should this channel prove successful and expand, it could lead a shift in the industry towards further blockchain development.

 

gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw== - XRP Surges as AMEX Teams up with Ripple

Source Link

55 Replies to “XRP Surges as AMEX Teams up with Ripple”

  1. I simply want to mention I am very new to blogs and definitely liked your website. Almost certainly I’m going to bookmark your website . You surely come with incredible well written articles. Thank you for revealing your web page.

  2. obviously like your website however you need to test the spelling on several of your posts. Many of them are rife with spelling issues and I in finding it very troublesome to inform the truth however I will surely come again again.

  3. I merely wish to tell you that I am new to online blogging and pretty much cherished your article. More than likely I am likely to save your blog post . You indeed have fabulous article material. Be Grateful For it for giving out with us your very own internet site webpage

  4. MichaelJemery.com is a site with many hypnosis downloads. Whether you are looking for free hypnosis downloads, self hypnosis download for mp3, video and any audio files, Michael Jemery has the downloads for you. You can download hypnosis from apps, audio, mp3 and even youtube !

  5. Great post. I used to be checking continuously this blog and I’m inspired! Very helpful info specially the residual part I handle this type of information much. I used to be seeking this specific information for some time. Thanks and best in luck. NAME

  6. Its like you read my mind! You appear to know so much about this, like you wrote the book in it or something. I think that you can do with some pics to drive the message home a little bit, but instead of that, this is great blog. A fantastic read. I will definitely be back.

  7. I do consider all of the concepts you’ve introduced on your post. They’re really convincing and can certainly work. Nonetheless, the posts are very brief for newbies. Could you please extend them a bit from subsequent time? Thanks for the post.

  8. Good – I should definitely pronounce, impressed with your site. I had no trouble navigating through all tabs as well as related info ended up being truly easy to do to access. I recently found what I hoped for before you know it in the least. Quite unusual. Is likely to appreciate it for those who add forums or something, website theme . a tones way for your client to communicate. Excellent task.

  9. Whats Happening i am new to this, I stumbled upon this I’ve found It absolutely helpful and it has aided me out loads. I hope to contribute & help different customers like its aided me. Great job.

  10. Just a smiling visitor here to share the love (:, btw outstanding design and style. “Better by far you should forget and smile than that you should remember and be sad.” by Christina Georgina Rossetti.

  11. Attractive section of content. I just stumbled upon your site and in accession capital to assert that I acquire actually enjoyed account your blog posts. Any way I’ll be subscribing to your feeds and even I achievement you access consistently fast.

  12. Magnificent web site. Lots of useful info here. I am sending it to some friends ans also sharing in delicious. And certainly, thanks for your effort!

  13. Hello, you used to write wonderful, but the last several posts have been kinda boring… I miss your super writings. Past few posts are just a little bit out of track! come on!

  14. you are really a excellent webmaster. The web site loading pace is amazing. It kind of feels that you’re doing any distinctive trick. Moreover, The contents are masterwork. you have done a great job on this topic!

  15. I would like to thank you for the efforts you’ve put in writing this site. I’m hoping the same high-grade site post from you in the upcoming also. Actually your creative writing skills has inspired me to get my own website now. Really the blogging is spreading its wings rapidly. Your write up is a good example of it.

  16. My spouse and i got really peaceful Chris managed to round up his web research by way of the precious recommendations he discovered using your web site. It is now and again perplexing just to choose to be making a gift of tips which often some others could have been trying to sell. And now we do understand we need the website owner to give thanks to for that. The main explanations you made, the easy web site navigation, the relationships you make it easier to create – it’s got all excellent, and it’s letting our son and our family reckon that this subject matter is interesting, and that’s very essential. Thanks for all the pieces!

  17. you’re in reality a good webmaster. The site loading speed is incredible. It kind of feels that you are doing any distinctive trick. In addition, The contents are masterwork. you’ve done a fantastic task in this topic!

  18. Hi there very nice website!! Guy .. Beautiful .. Amazing .. I will bookmark your site and take the feeds also¡KI’m satisfied to find a lot of useful info right here within the put up, we’d like work out extra techniques in this regard, thank you for sharing. . . . . .

  19. whoah this weblog is great i love studying your articles. Keep up the great paintings! You already know, a lot of persons are searching around for this info, you can help them greatly.

  20. Its like you read my mind! You seem to know so much about this, like you wrote the book in it or something. I think that you could do with some pics to drive the message home a bit, but instead of that, this is great blog. An excellent read. I will definitely be back.

  21. Thanks for another informative blog. The place else may I get that type of information written in such a perfect manner? I have a undertaking that I am simply now running on, and I have been on the glance out for such info.

  22. Excellent site. Lots of useful information here. I’m sending it to a few buddies ans additionally sharing in delicious. And obviously, thanks in your sweat!

Leave a Reply

Your email address will not be published. Required fields are marked *