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Ripple “steals” Mastercard’s executive to oversee expansion in Europe

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Ripple, the company behind the XRP cryptocurrency, announced this Wednesday (30) the hiring of specialist in people management, Sendi Young, an executive who a few days ago worked for the English division of Mastercard. According to the statement, Young now occupies the position of managing director for operations in Europe and will be responsible for overseeing the expansion of RippleNet, a network focused on cross-border payments and Ripple’s flagship.

“The leap to cryptocurrencies was an easy decision to make — this technology is driving the future of finance, and I’m excited to get started,” celebrated Ripple’s new director on Twitter.

In turn, Ripple did not spare praise for the professional performance that has more than fifteen years of experience in fintech, payments and consulting, highlighting even the most recent success achieved by it when leading digital strategy at Mastercard. “Sendi brings with him his deep industrial and regional experience, which will be used to further develop and drive customer success across Europe,” said Ripple.

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“We are excited to bring in someone who understands and shares Ripple’s vision,” commented Asheesh Birla, general manager of RippleNet. For him, Sendi’s arrival represents advances for the network in Europe, given his experience in the payments sector and for knowing how to lead how to scale a network business.

In his commentary, Sendi praised blockchain technology after noting that over the past decade it has been at the forefront of innovation in financial services and witnessed how technology has dramatically changed the way we do banking. However, the director said, underlying payments and banking infrastructure continue to be an obstacle to cross-border frictionless value exchange and inclusion.

“I firmly believe that the blockchain and cryptocurrencies will be a game changer for improving today’s finances by addressing its key inefficiencies. These technologies can make the global financial system fairer, more inclusive and more transparent”, concluded Sendi, adding that “this is just the beginning”.

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Ripple in Europe

According to Ripple, Europe remains a leader in fintech and payment origination and therefore a critical market for Ripple. Countries like the UK, which have provided clear regulatory guidelines on digital assets, the company said, are leading payments innovation and offering new opportunities for regional growth.

“Europe continues to provide a strong boost to RippleNet, for new and existing customers,” said Ripple, citing some of its new customers: Xbaht; Lemonway; in addition to its long-time client, London-based MoneyNetint, which has been building new corridors with RippleNet, most recently Brazil/UK, concluded.

Last month, for example, the National Bank of Egypt (NBE), the largest financial institution in North Africa, stated that it will use Ripple’s services for international transfers. The intermediation will be carried out by LuLu International, an exchange of the conglomerate LuLu Group International, through the RippleNet network.

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Former U.S. Treasurer Praises XRP While Dismissing Other Cryptocurrencies

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Rosie Rios chooses XRP over other cryptocurrencies, but there’s a catch

Former U.S. Treasurer Rosie Rios recently typed out some words of praise for XRP’s utility.

In her tweet, Rios claims that the Ripple-affiliated digital currency is used for cross-border payments, which she believes sets it apart from other coins that are mainly useful for speculation.

The ex-treasurer, whose name was printed on billions of U.S. dollar banknotes, believes that China’s most severe cryptocurrency ban to date is somehow supposed to highlight the difference.

“Rios’s words, of course, have to be taken with a significant pinch of salt given that she’s currently on Ripple’s payroll.

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As reported by U.Today, the San Francisco-based company added her to its Board of Directors in early May.

Kraken CEO Jesse Powell took a veiled swipe at Rios and Ripple in response to the recent effort to promote XRP:  

If you were wondering where some of these politicians get their ideas. We aren’t all on the same team, and we don’t all have the same goals. Don’t forget that.

In March, Powell opined that XRP started posing a “huge asymmetrical risk” to exchanges after Ripple was sued by the U.S. Securities and Exchange Commission last December.

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Ripple Price Analysis: XRP bounces from $0.90, ready for further upside today?

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  • Ripple price analysis is bullish for today.
  • XRP/USD found support above $0.90 again.
  • XRP is set to rally high today.

Ripple price analysis is bullish today as another retest of the further downside was met with rejection, indicating an upcoming reversal. Since XRP/USD saw a bullish momentum return this morning, we expect this to continue later today, with the $1 mark likely to be broken again.

Ripple Price Analysis: XRP bounces from $0.90, ready for further upside today? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded mostly in the green over the last 24 hours. The market leader, Bitcoin is up by 6.59 percent, while Ethereum has spiked by 11.6 percent. The rest of the top altcoin follow, with a gain of around 7-9 percent.

Ripple price movement in the last 24 hours: Ripple rallies from $0.90 support again

XRP/USD traded in a range of $0.8948 – $0.9815, indicating a substantial amount of volatility over the last 24 hours. Trading volume has increased by 7.76 percent and totals $3.342 billion, while the total market capitalization trades around $45.13 billion, ranking the coin in 6th place overall.

XRP/USD 4-hour chart: XRP starts to move higher

On the 4-hour chart, we can see the Ripple price action gaining strength this morning, indicating further upside will follow today.

Ripple Price Analysis: XRP bounces from $0.90, ready for further upside today?
XRP/USD 4-hour chart. Source: TradingView

The overall market price action has traded within a strong bearish momentum over the past weeks. After an initial spike lower on the 7th of September, support was found around the $1.05 mark.

Above the support, XRP/USD consolidated for several days until another spike lower was seen on the 20th of September. This time, support was found above $0.85, with some consolidation above $0.90.

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Later last week, the support was retested several times, with the last one, seen yesterday, quickly rejecting any further downside, indicating exhaustion for bears. Overall, this Ripple price action development should lead towards further upside later this week.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bullish today as a further downside was rejected again yesterday, and bulls have gathered strengths for a small rally this morning. Therefore, we expect to see XRP/USD reach further upside over the next 24 hours.

While waiting for Ripple to move further, read our guides on NFT Games, CoinJar, as well as Bitcoin Memes.

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Ripple’s Use Case Stand Out While Others Remain Speculative

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  • Ripple and SEC legal talks continue.
  • XRP provides great cross border payments.

The Securities and Exchange Commission (SEC) and Ripple (XRP) legal talks in the US continue to heat up. As a result, these issues have become one of the most talked-about topics in the crypto world. Recently, the CEO of Ripple, Brad Garlinghouse, insisted that the SEC has provided no clarity in crypto regulation and has lost sight of its mission to protect investors.

Despite this ongoing heated debate between SEC and Ripple, XRP continues to provide global service to all its users. This made Rosie Rios, the 43rd Treasurer of the United States, react in a tweet she posted:

This tweet posted by Rose Rios on Twitter speaks about the clear use case of XRP. In detail, XRP is one of the digital assets in the crypto world that provides a good use case for cross-border payments. The fast, secured, and low transaction fee is one of the highlights of XRP’s blockchain.

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However, not all digital assets are like Ripple. Other cryptos use cases remain in speculation. As a result, authorities in other countries can’t help but tighten their security against these crypto assets. For instance, China, in the past days, released a statement about its continued crypto ban.

Today, Ripple trades a decent price of $.97 per crypto with a market cap of over $45 billion. In terms of market position, Ripple remains one of the top ten digital assets in the crypto market.

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