Ripple has actually announced that it is partnering with Novatti Group, a worldwide payments company, to help it use XRP-based services.
Ripple and Novatti Work on Remittances
According to Ripple, this collaboration will initially focus on remittances in between Australia and the Philippines. It will specifically be performed through the financial services business iRemit.
Ripple states that Novatti expects to process “& ldquo; numerous thousand transactions each month” & rdquo; through RippleNet and its On-Demand Liquidity (ODL) service. Novatti also plans to extend the service to other clients and nations in the future.
The news is noteworthy due to Ripple’s regulative troubles; the company is presently dealing with charges of securities violations put forward by the U.S. Securities and Exchange Commission (SEC). Its choice to add Novatti as a partner is a sign that the firm is continuing to look for collaborations in Asia, a reasonably crypto-friendly market.
Though Ripple at first signed the handle December 2020, it did not expose the complete information of the partnership up until this week.
XRP Prices are Trending Upward
XRP rates are carrying out fairly well. The cryptocurrency broke out of an inverted head-and-shoulders development on Apr. 4, recently rising by nearly 240% to reach a three-year high of $1.98.
XRP/USD on TradingView Though XRP be might past due for a correction by some metrics, other technical information indicate further gains
. Based upon the inverse head-and-shoulders pattern, XRP could surge by another 65% and reach its previous all-time high of $3.30. On the other hand, an up impulse past the January 2018 all-time high of $3.30 could send XRP into a parabolic arc towards the 127.2% Fibonacci retracement level at $8.30.
Though the current Novatti collaboration is unlikely to have caused these patterns, positive news concerning the claim between Ripple and the U.S. SEC might be accountable. Recently, Ripple was approved access to SEC files, while the SEC itself has been blocked from seeing the bank records of Ripple executives.
Both of those choices cold assistance Ripple win its case. Nevertheless, if Ripple fails to win the legal battle versus the SEC or deals with further problem, a high crash to $0.60 or lower can be anticipated.
Disclosure: At the time of writing, this author owned Bitcoin and Ethereum.