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DBS Acknowledges Ripple as the Cheapest Network for Cross-Nation Payments

DBS, the leading bank’s stand for Ripple as the cheapest and fasted transnational payment system was tweeted by community @BankXRP.

South-East Asia’s leading bank, DBS, referred to Ripple network as the cheapest way to send money across borders. One of the biggest Ripple communities on Twitter, @BankXRP, tweeted about the DBS acknowledgment on 21st Aug on its official handle.

 Treasury Prism is the online treasury and cash management simulation platform of DBS. The official website of Treasury prism mentions Ripple as the cheapest route for cross-border payments. As per its Treasury Concepts, Ripple also stands as the cheaper option out of SWIFT and ACH. 

In the same document, DBS mentions Ripple as the right disruption for the fintech to aid low-cost cross-border payments. Currently, Swift registers 6% error rates in transnational transfers. 

The fintech is looking forward to a faster and cheaper mechanism and Ripple seems to fit in perfectly. Ripple is evidently taking over the legacy systems in place. In another recent development, Ripple has partnered with MoneyGram. According to the community Tweet,

Ripple’s Senior Vice president of Business and Corporate development has joined MoneyGram’s board of directors. Kahina Van Dyke, Ripple’s SVP will be acting as an observer in MoneyGram. The news has come out post the Ripple MoneyGram partnership.

MoneyGram recently introduced xRapid technology in its international payment processing system.

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Ripple Price Analysis: XRP/USD falls despite charting golden cross

  • XRP/USD fell from $0.271 to $0.253 this Tuesday.
  • The Elliott Oscillator dropped from 0.058 to -0.002 over the last 11 days.

XRP/USD daily chart

XRP/USD daily chart

XRP/USD stayed in control of the market for the third straight day, despite the SMA 50 crossing over the SMA 200 to chart the supposedly bullish golden cross pattern. This Tuesday, XRP/USD dropped from $0.271 to $0.253, falling below the support provided by the SMA 50 and SMA 200 curves. This Wednesday, the price has fallen further to $0.247 and has found support at the lower curve of the 20-day Bollinger band and the downward trending line. The MACD shows increasing bearish momentum, while the Elliott Oscillator has dropped from 0.058 to -0.002 over the last 11 days.


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Ripple (XRP/USD) forecast and analysis on February 26, 2020

Cryptocurrency Ripple (XRP/USD) is trading at 0.2680. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Ripple. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator stripes.

Ripple (XRP/USD) forecast and analysis on February 26, 2020

As part of the Ripple course forecast, a test level of 0.2750 is expected. Where should we expect an attempt to continue the fall of XRP/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 0.2420. The conservative sales area for Ripple is located near the upper border of the Bollinger Bands indicator strip at 0.2860.

Ripple (XRP/USD) forecast and analysis on February 26, 2020

Cancellation of the option to continue the depreciation of the Ripple will be a breakdown of the area of ​​the upper border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of ​​0.3040. This will indicate a change in the current trend in favor of the bullish for XRP/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Ripple (XRP/USD) forecast and analysis on February 26, 2020 implies a test level of 0.2750. Further, it is expected to continue falling to the area below the level of 0.2420. The conservative sales area is located is near the area of ​​0.2860. The cancellation of the option of falling cryptocurrency will be a breakdown of the level of 0.3040. In this case, we should expect continued growth.

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Ripple (XRP) Could Reach $100 – Will XRP Bulls Acquire the Control

With the crypto market ups and downs, all cryptocurrencies are in the log jam of bearish conditions. Ripple (XRP) is also in the same bucket of apple and facing the low and high tides of the market today. Battling with these fluctuations, the smart analysts estimate that the Ripple (XRP) is going to touch the sky of $100 within the next five years which seems a distant dream.

Ripple is a globalized company whose business runs in San Francisco, London, New York, India, Sydney, Luxembourg, and Singapore. This sole enterprise blockchain solution focuses on addressing global team players like The Federal Reserve, Institute of International Finance, and World Trade Organization.

The latest updates show that BRD, a non-custodial wallet that provides access and control to the digital property, is going to adjoin support for XRP in its wallet. This support will be first launched on Android iOS. This support by XRP is important for BRD as the former has come up with its best effectiveness and scalability for a specific use. 

Last week after reaching the climax by the market players Bitcoin, Ethereum, and Ripple’s XRP, especially XRP was struck very hard, possibly it has faced a strong comeback over the past eight weeks.

Ripple (XRP) Price Analysis

No matter what predictions and analysis have come out for Ripple, but looking at the present scenario, there seems to be a brutal condition for the third-largest cryptocurrency.

According to a news report, Ripple’s price is dropping, and it tripped below $0.2500 against the US dollar. Currently, the Ripple (XRP) trading value of $0.243985, and the value is decreased by 3.45%. The market capitalization of Ripple (XRP) is $10,674,182,128 USD and the 24-hour volume is $2,960,311,872 USD with a circulating supply of 43,749,413,421 XRP. 

Despite the current situation, the optimistic analysts figured out that the XRP price will remain somewhat bullish. The analysts indicated that XRP is in its midst of transiting approx. $0.24-$0.26. This shows a positive signal for the technical analyst. It was also predicted that if XRP holds the price up to $0.24, it will accelerate XRP to take control over the bull.

Ripple XRP Vs. Stellar Lumens XLM

The key competitor of Ripple, i.e., Stellar Lumens XLM, is facing a bearish situation today. It is currently dealing with a market value of $0.062478, with a circulating supply of 20,205,010,687 XLM has a decreased value of $7.32%. 

Fortunately, the experts are in favor of the buy-side of XRP, adding to the potential for the hold to break upward, which is something added by the technical leaders that the market will take XRP to $0.35.

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