XRP Price Set For Colossal 63,000% Breakout As Ripple Secures Crucial Partnership In Europe
06 June 2024 - 11:00AM
NEWSBTC
In a market witnessing a strong bullish momentum with several
cryptos reaching new all-time highs and experiencing price
recoveries, the XRP price has remained in a consolidation phase for
the past two months after a brief surge in March that took it to
its yearly high of $0.7430. However, recent positive
developments and announcements surrounding Ripple, the blockchain
payment company associated with XRP, coupled with an intriguing
bullish pattern, have sparked speculation of a potential massive
uptrend for the XRP price. Ripple Expands With Clear Junction
Partnership Ripple recently revealed its partnership with Clear
Junction, a global provider of cross-border payment solutions for
regulated institutions. According to the announcement, the
new collaboration aims to enable Clear Junction to facilitate
“instant and secure” GBP and EUR-denominated payout coverage for
Ripple’s payments customers. Moreover, Ripple plans to introduce
support for additional currencies later this year, further
expanding its network of offerings. Related Reading: Shiba Inu Burn
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Craddock, Managing Director, Europe at Ripple, expressed
satisfaction with the partnership, stating the following:
Clear Junction is a great fit for Ripple. Right from the beginning,
it has been able to support all of our use cases, including
providing GBP and EUR payout coverage for our clients sending
payments into the UK and European Union. Clear Junction, an
FCA-authorized e-money institution in the UK, offers operational
support and reports to provide a secure environment for partners.
The goal is to ensure the safety and protection of funds through
necessary payment industry and data security safeguards. The
company has earned ISO 27001 certification, the highest global data
security standard. Dima Kats, Founder and CEO at Clear Junction,
emphasized the significance of the partnership, stating that
blockchain technology and cryptocurrencies will be at the core of
the evolution of correspondent banking. Kats further states: We are
happy to partner with Ripple to be a part of this process. This
collaboration exemplifies two institutions coming together to
enhance their respective products and services. We look forward to
working closely with the Ripple team and exploring more avenues for
future growth. XRP Price To $300? Presently trading at $0.5269, XRP
is experiencing a prolonged consolidation phase between the price
range of $0.4780 and $0.5441. Despite lacking significant
catalysts to propel the token to previous highs, the possibility of
retesting its all-time high of $3.40 in January 2018 is on the
horizon. A crypto analyst known as “Jack The Rippler” has
identified a bullish triangle pattern emerging in the daily XRP
price chart, as seen in the image below. Related Reading:
Crypto Expert Reveals Top 3 Trades To Take Now Should the pattern
fully break out above the $0.600 mark and the anticipated bullish
uptrend materialize, as indicated by the analyst, the projected
63,000% surge would skyrocket the XRP price to approximately $331.
Nevertheless, the realization of this scenario remains uncertain,
and the timeframe required for XRP to overcome its upper resistance
levels is yet to be determined. The upper resistance levels
currently stand at $0.5414 and $0.5574 in the near term. Featured
image from DALL-E, chart from TradingView.com
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