Xendpay to expand its services to more countries by using the RippleNet. The company would be using the existing infrastructure of RippleNet.
To expand and support transnational money transfers, Xendpay joins Ripple’s global network. In an official announcement by Ripple, the Xendpay users will be able to transfer money in currencies along with USD too.
According to the press release, Xendpay will have excess to the existing infrastructure of RippleNet. It would include the support of financial institutions like banks and money transfer facilitation partners.
The Xendpay users could not transfer any other form of currency apart from USD in transnational transactions. To make the payments in any other currency, the platform has to create a new business case. Such a set up with local banks added complexities of international money transfers and added to the cost of the transfer. As per Xendpay’s head of product innovation, Bhavin Vaghela, integration with RippleNet will allow faster and efficient transfers. Bhavin also added that with RippleNet XendPay will be able to penetrate the market faster with its built-in trust factor.
Ripple’s Network has grown across 40 countries and has over 200 consumers. With such a vast payment network Ripple has become very cost-effective for smaller currencies.
Bhavin stated that the traditional channels took them 3-4 days to transfer Thai Bhat. But with the use of RippleNet almost 90% of the Bhat payments are getting processed within 10 minutes. With the RippleNet integration, XendPay opens up newer payment processing services to Bangladesh, Malaysia, Philippines, Vietnam, and Indonesia. The same will support real-time payment rails to Thailand. Xendpay is already a popular transnational payment service provider across the globe. It has lots of clients in the U.K., Europe, Canada, South Africa and India where the number of migrants is increasing.
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.
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.
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.
MoneyGram Expanding Use of Ripple and XRP, Corporate and Personal Account Transfers to Be Powered by RippleNet
Global payments giant MoneyGram is expanding its use of Ripple and XRP.
In a new earnings call, CEO Alex Holmes says MoneyGram plans to launch XRP remittances in additional corridors and utilize RippleNet for account-to-account transfers.
“Our progress on the Ripple partnership has been instrumental in helping us lead the evolution of digital P2P payments… Today, our trading volume continues to grow and we’re partnering to expand the service to more corridors.
I’m also excited to announce that we are working to integrate RippleNet for account-to-account transfers in 2020. This new integration will further accelerate our progress in accomplishing our vision of real-time global settlements.”
MoneyGram’s account-to-account feature is designed to let customers easily transfer money between their bank accounts, even if those accounts are located in different countries around the world.
The company has further clarified that the integration will apply to corporate accounts as well.
Although MoneyGram has not specified whether it will utilize XRP for the account-to-account transfers, the company has hinted at the new corridors it plans to explore for the digital asset. Late last year, Holmes said the company is specifically looking at the use of XRP across Asia and in Australia.
“We’re looking now in a lot of the Asian markets. So we’re looking at the Philippines, the interface with Australia, having conversations with Japan, other countries.
One of the most inefficient things about our settlement process in being a US company is that everything is always reverting back to US dollars. It doesn’t make a lot of sense if you need Australian dollars and you need Philippine pesos and you need US dollars. Why can’t you sort of pare those off and just net it through an XRP platform?”
This year, Ripple completed the acquisition of its $50-million stake in MoneyGram after partnering with the company in June of last year. MoneyGram is now the largest and most high-profile user of Ripple’s XRP remittance product. Ten percent of MoneyGram’s transactions between the US dollar and Mexican peso are utilizing XRP.