Welcome back to Make Money Online, RIPPLE has pen signatures with 15 new clients despite the lawsuit. That’s what we’ll be talking about today. But first, like and subscribe to this channel for more videos. The SEC filed a class-action lawsuit against Replanned in a couple of its executives on December twenty-second and its filing, the regulator alleged that reply’s raised one point three billion dollars in unregistered securities offerings since twenty thirteen at this point is very well known.
That ripple is the most accomplished when it comes to forming partnerships and breaking into the existing business world. After all, it is a project, the target market of which is primarily made up of financial institutions. Even so, the sheer quantity and quality of the partnerships are staggering, considerably outshining anything that other projects have established.
There’s a certain unmatched recognition that RIPPLE possesses, and a certain amount of that must undeniably come from a veritable utility of apples banking solutions. It wouldn’t have attracted these players if it weren’t actually good. Ripple’s executives have also been cosying up to some insiders in the financial industry, like Christine Lagarde, the International Monetary Fund managing director and the chairman of the European Central Bank, Brad Garlinghouse.
Apple CEO has compared the platform to Swift 2.0, a comparison that’s been warmly received. Indeed, the slew of successful pilot programs and the general warming of the sentiment towards distributed ledger technologies bodes well for RIPPLE in XRP, which holds an iron grip on this niche of the market.
The few that utilize other solutions are just that. A few. Even within this small group, the majority of solutions are independently created by the financial institution. JP Morgan Chase is a good example of this. While companies building their own blockchain solutions as something will increasingly see in the years to come, these solutions may not be able to keep up with that of Ripple’s itself simply because RIPPLE has a dedicated business and technical development team that already entrenched itself deeply in the financial system.
Why spend resources on an internal solution, at least if it focused on the same pain points when you can leverage an already existing solution that has a significant number of institutions over two hundred at this point using it? But what kind of partners are we talking about, the financial institutions that make up the net to include a diverse set of entities, including central banks, private banks, remittance firms, brokerages and payments providers.
It’s indeed very much an upgrade over the existing swift messaging system, which are bogged down by lengthy transaction times, expensive processing fees and uncertainty in transaction execution.
Ripples through products rapid current and tzvia have all been merged into being on the net, which, as I mentioned, has demonstrably proven itself to be better than swift and every which way possible. If people didn’t have solutions that worked, no one would be on the net. These partners now have a worldwide network upon which they can rely on to facilitate international transactions.
It’s a win-win for all stakeholders involved. Despite being hit with the US Securities and Exchange commissions, one point three billion dollar lawsuit blockchain payments firm Ripple continues to grow and sign new customers. According to the company’s CEO, Brad Garlinghouse, the company reached 12 million users via the ZAPU ledger and the Internet protocol and works with more than 40 companies committed to the utility of the XRP, including Coile, for its VRD bet, pay and FLER. In his comments, he wrote that Twenty Twenty was a banner year for repeal.
Despite a disappointing ending related to the US regulation, the company processed millions of net transactions, grew on-demand liquidity 12 times per year over year and signed 15 new customers after the SEC complained. Even after the SEC’s lawsuit was officially filed, the company continued to close new customer deals at the rate of two per week.
With these additions, Ripple is now seeing more customers than ever before in the same report. As for Ripple Labs, 20 20 saw the addition of over one hundred new faces to the team, including several leadership members with strong backgrounds from Apple, PayPal, Amazon, Tesla and Twitter.
It also welcomed the new board member, Sandy O’Connor, former chief regulatory affairs officer at JPMorgan Chase. She will provide Rupal with advice on key government regulations and regulatory initiatives as it pushes for regulatory clarity.
In the US, there’s been an increasing demand for digital financial services and payments operations in the Asia Pacific. This has propelled the adoption of net amongst the region’s many SMEs fintech and further, the number of deals signed in 2020 were up 80 percent year over year, and there was a one thousand seven hundred percent growth in transactions.
The initial effect of the lawsuit had been that XRP market capitalization reduced drastically by sixty-three percent, and it still keeps shrinking. In total, the token’s market cap dropped from around twenty-seven billion dollars prior to the lawsuit to roughly 12 billion today. And their turn most major exchanges have either delisted or halted the trading of XRP. Will repeal, replace Swift. An important question, but an easy one to answer, in my opinion, yes, the ball is already rolling.
The pace at which the banks are joining, testing and praising RIPPLE and its solutions is so evident that the contrary argument cannot be taken seriously. Rypple is one of the earlier projects on the blockchain and cryptocurrency space and its continued survival, growth and acceptance is a testament to the fact that it’s a legitimate solution to modern banking solutions.
In addition to the obvious benefits of time and cost savings that are generally spoken about a lot in crypto discussions also provides partner institution’s on-demand liquidity. So instead of having to refund destination accounts with the local currency, XRP can be used.
This means quicker settlements, lower costs and better exchange rates. If you ask me, it’s not a question of whether RIPPLE replaces SWIFT. It’s happening already. XRP analysis. XRP formed a bullish reversal pattern and was set to test at the 30 cents level of resistance over the next few days after the sharp rally of the past few days has entered a minor correction.
If things improve, the bulls will make one more attempt to thrust the exposed pair above the 40 cents resistance and resume the uptrend. If they manage to do that, the next stop could be the psychological resistance. At 50 cents on Friday, January twenty-ninth, the XRP price is growing actively trading at twenty-seven and a half cents. XRP keeps trading near twenty-three point six percent. Fibonacci.
We can currently suppose that after the sideways movement is over, the quotations will go on upwards. The aim of the growth is thirty-eight points two percent and then sixty-one point eight percent. Fibonacci. The MACD histogram keeps growing while its signal lines are heading for zero, which is another signal for the end of the pullback. Upon winding it up, the quotations can leave for the previous goal of fifty-two cents.
With the sharp spike today, we’re waiting to see if the trend will attain a bullish appearance. If it can sustain the price above twenty-eight cents, the XRP USD pair could rise to thirty-eight cents and then fifty cents. This is an important support to watch out for because a break below it could signal the bulls are fully back in the game.
RIPPLE finally bought a share in the subsidiary of a Japanese financial giant money tab by the plan of the bludging company. From now on, the development of services and applications will become even faster. After the merger with Money Tab, two representatives of RIPPLE will join the board of directors of the Japanese counterpart.
Apart from Ripple money, TAP has thirty-eight more shareholders. The Money Tap app is based on the Net and is being introduced into the Japanese banking system actively in money tap their now busy introducing a strict identification system with a biometric-based login procedure. The launch is scheduled for spring with time. All the members of the Japan Bank Consortium are expected to join the system by money.
Tap Ripple is very keen on the Japanese market, mostly because of its capacity. Moreover, Japan is special in terms of its immaculate clearness of regulative rules, which is among the key developmental issues for the ripple. This move is expected to reinforce the move of XRP as it aims to bounce off the support at twenty-five cents and hit as high as 40 cents.
The quotations are forming another correction near the support level of twenty-three point six Fibonacci. The price might soon bounce off and had for thirty-eight point two percent then to sixty-one point eight percent.
The chart has formed a golden cross near twenty and keeps going horizontally, giving it another signal for the end of the correction. In the near future, the pair can be back with an ascending dynamic, aiming at the same point as on the larger time frame.
That is fifty-two cents. When XRP USD reaches the higher targets, it has to consolidate how it will move from there. And if there comes a possible stabilisation that cannot be passed away or XRP, USD sets up to form further bearish movements.
For now, we should consider the new formation coming up next time and when this happens, the targets to be reached. This chart shows three conditions for investors to buy into XRP. The first condition is that Sesi provides a clear direction on the lawsuit with RIPPLE. Secondly, it predicts that XRP must break above the uncertainty triangle before will rise.
And finally, XRP must consolidate after a breakout to create new support at a high of about eighty-two cents. You might have to hold on a bit longer for this to happen. Remember this. The greater the resistance, the greater the rewards. Regardless, of regulatory uncertainty and the sexy lawsuit in the USA.
Garlinghouse is positive about twenty twenty-one, acknowledging the continued strong support from customers and expressing optimism that twenty twenty-one will be even more successful than the previous year. We hope you enjoyed this video. If you did, please give it a thumbs up. Subscribe and click on that notification bill. What is your opinion on holding XRP? Let us know in the comments below while you here.
Go ahead and click on one of the videos on your screen. See you next time. Hollywood.
Read More: Tron (TRX) Truth REVEALED!