Ripple, one of the largest companies in the cryptocurrency market has been expanding all over the world over the last few years and it keeps doing so in recent months. As virtual currencies are starting to gain momentum once again, there are some XRP investors moving large amounts of funds between accounts. In this article, we will share with you which are the main partnerships that Ripple closed in the last few weeks and how traders are handling their funds before a possible bull market.
RippleNet is the main product and service offered by Ripple. Indeed, RippleNet is a global payments network that makes it easy for more than 300 financial institutions to perform fast and low-cost. With it, banks and other firms can easily expand their services and solutions to more places and countries, reaching a larger audience for their products. With these services, financial firms will have more reliable solutions, allowing their clients to increase their trust and eliminating payment failure while handling funds. For example, the funds will arrive on customers’ accounts in a fast and easy way without delays, as it can happen with many other companies that do have some delays while handling customers’ money. In addition to it, RippleNet offers cheap payments and cross border transfers. This is certainly useful to reduce the dependency that companies have on nostro and vostro accounts, which are very expensive.
Tranglo, a recognized Asian financial company has recently announced that they are starting to use Ripple’s products in order to improve their services and solutions. According to some reports, the firm is working with the RippleNet since November 2019. This firm is a key player in the Asian market considering that it is now providing solutions to 18 countries and it has recently signed a new partnership with Alipay, a company with over 1.2 billion users. Some of the countries were Tranglo is currently working include Japan, India, China, Singapore and the Philippines, among others. RippleNet’s implementation by Tranglo will be helping remittance workers in Asia to send and receive funds in a fast and easy way. Asia is the home of millions of workers that send their funds back to their home countries after they earn some money. This is in order to help their families and friends. Estee Lay, Tranglo’s project manager explained about the new partnership they have signed with Ripple in November:
“Tranglo expects the collaboration to especially benefit migrant workers around the world, particularly in Asia, where the cross-border payment hub has a foothold in the remittance market through local partners.”
In addition to it, Ripple is working on a solution called on-demand Liquidity and that it would reduce even further transaction times across borders. Indeed, by using the XRP digital asset, companies will simply have to purchase XRP with local currency, perform the transaction to the destination account and sell the XRP for another fiat currency. This is specifically useful for those payment channels that are yet illiquid for fiat pairs. Indeed, it can be very difficult to send funds between the Mexican peso and the Philippine peso. With XRP and Ripple’s services, this becomes very easy and inexpensive. With just a single connection, clients can start using blockchain technology for global payments and improve their presence in a large number of markets. As mentioned and explained by Ripple, the On-Demand Liquidity works as an alternative to pre-funding and operational consistency through a common rulebook. Some of the firms that are already using Ripple include American Express, Interbank, Ria, BeeTech, Banco Rendimento, Santander, Money Gram and many others. Nonetheless, not all of them are using the On-Demand Liquidity proposition made by Ripple.
Investors realized that the cryptocurrency market started to move upwards in the last few weeks. This was just a signal that 2020 could be a very good year for virtual currencies. Indeed, many consider Bitcoin could surpass its previous all-time high of $20,000 this year, whether this will happen remains to be seen. XRP is clearly going to be following the trend as it has already shown. After being traded below $0.2 at the end of 2019. XRP is now close to $0.235 and it has a market capitalization of over $10.3 billion. In the future, XRP could also increase in price and move even higher, allowing traders to register large profits.
A way to enjoy the current bull market in XRP and future gains is to start using and following the crypto trading signals provided by AltSignals. This service would allow you to enter and exit the market at the correct moment so you will be able to enjoy large profits at the end of the month. AltSignals has been providing crypto trading signals in the last years and it has established itself as a leader in the cryptocurrency market. With its services, crypto traders could easily have their trading strategies improved and increase their profits. If you are an XRP trader and holder, you can start following AltSignals, something that will allow you to be in an advantage compared to other traders that do not use AltSignals. Indeed, the firm was able to be recognized as the most trustworthy crypto trading signals site in the world after it releases monthly reports on their performance in the market. Every single month, AltSignals provides users with detailed information about all the trades processed and which were the most profitable entries and exit during the month. AltSignals is now providing trading signals to several crypto exchanges, including BitMex - where users can trade XRP with leverage - Binance and FX. On the Binance platform, traders can buy and sell XRP, hold it or sell it. If you want to know more about AltSignals and the solutions that they provide, you can always check the official site of the company and learn more about it.
The cryptocurrency market has offered many times to traders the possibility to see large transfers of money being made in a wide range of blockchain networks. For example, a few days ago, 212,000,000 XRP were sent from a South Korean cryptocurrency exchange to an unknown crypto wallet. According to Whale Alert, more than $10.74 million in XRP were transferred from Bithumb on January 22nd to an unknown wallet. This represented 45 million XRP. The wallet that was receiving the funds seems to have been activated by the exchange on behalf of one of the users on the platform and it may not be a wallet that is owned by the exchange itself. In general, crypto exchanges have hot and cold wallets to handle their digital currency funds, which allows them to remain liquid for their users and protect their funds at all times from hackers and other attacks that they could experience. The XRP cryptocurrency can be used to perform cross border transfers due to the fact that it is very simple to handle it. It is cheap compared to other methods and it is also very fast compared to traditional virtual currencies or legacy systems such as SWIFT. At the same time, the account on Bithumb sent other transactions since December 30th. They moved 64 million XRP, 29 million XRP, 27 million XRP, 47 million XRP and 45 million XRP. All of these transactions were sent to unknown wallets. Bithumb didn’t mention anything about these transactions despite the fact they were made from one of their wallets. During this year, XRP was able to grow from under $0.2 to almost $0.25. This shows that the whole market was experiencing some kind of bullish momentum after the new year started. It is worth mentioning that Bitcoin (BTC) it is expected to experience a new halving in May this year that could eventually have a massive effect on the price of the virtual currency. Moreover, this is also going to play a key role in helping altcoins, including XRP, to register new highs in the future. With these recent transactions and all the funds that are moved through the Ripple blockchain on a daily basis, it is possible to see that there are many use cases for XRP and how it could be used in the future by banks and other companies to process transfers. At the time of writing this article, XRP has a price of almost $0.22 and a market cap of over $10 billion.
In this article, we aimed at showing you which were the recent partnerships signed by Ripple and how the XRP digital asset is expanding around the world. At the same time, traders could enjoy a good time trading following AltSignals and their crypto trading signals they give to traders. Ripple and AltSignals are two leading companies in the market that could be complemented in order to send and receive fast transfers and also trade digital assets in a profitable way.
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