Author Topic: Ripple price in an upward trend as Ripple network signs with a China-based payme  (Read 188 times)

Offline perper350

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Ripple price up by 6.5%
Ripple network signs a China-based payment provider for the customers in Europe, US and China
Ripple is trading in an upward trend at $0.76. XRP/USD opened trading on Thursday morning at $0.71 and has since posted gains of about 6.5%. The currency dropped its price significantly on Wednesday evening from $0.75 traded at 21:45 GMT to $0.70 traded at 23:30 GMT.

The upward trend is happening in the wake of news that LianLian International, one of the largest Chinese payment providers will be joining RippleNet. The payment provider has been contracted to ensure that there are faster and cheaper cross-border transactions. The network aims at providing these very much sought for services to its customers from the United States, Europe, and China.

RippleNet is a decentralized global network. The network provides financial technology to banks and payment providers as well as to financial institutions. A tweet by the CEO of Ripple, Brad Garlinghouse read, “Just opened the door to the largest e-commerce market in the world”. LianLian International will put to use Ripple’s centralized software for its payment solution, xCurrent.

Arthur Zhu, the CEO of LianLian said, “With RippleNet, we will further enhance that experience and increase our market share by offering customers instant, blockchain-powered payments across the 19 currencies that we currently support. We look forward to working with Ripple to power payment flows between China and RippleNet members in new markets.”

XRP/USD immediate support is at $0.6 and the resistance level at $1. The cryptocurrency market has been on an upward trend since Monday. Positive news continues to increase the stability in the market. Ripple price could be on its track to improve. The currency posted all-time high on January 7th, 2018 trading at $2.7.