Connect with us


Ripple partners with Ria Financial Services to “pump up” cross border trading

Arijit Sarkar



Ripple partners with Ria Financial Services to "pump up" cross border trading
Credits: Pixabay

Ripple has dominated the cryptospace owing to its numerous collaborations, with the latest announcement being its participation in the Saudi British Bank’s (SABB) initiative for Instant Cross-Border Payment Service. At the recent Euronet conference call, Michael J. Brown, Chairman, CEO and President, announced to the world, yet another partnership that will excite the Ripple ecosystem. The partnership is between Ria Financial Services and Ripple.

The collaboration between the two companies is aimed at increasing the physical and digital footprint of Ripple, while allowing Ria’s customers to “connect and transact with Ripple’s network of more than 200 financial institutions worldwide.”

The information was first brought to light by Twitter user, @ANT159694954, who quoted a statement made by Brown,

“We signed an agreement with Ripple that gives a Ripple access to Ria’s global physical and digital footprint, also allowing Ria’s customers to connect and transact with Ripple’s network which includes more than 200 financial institutions worldwide”

Several users on Twitter  received this news with great enthusiasm. @EasycareLndscpe replied to the post, saying,

“THIS IS HUGE!!!!!!!!!!!!!! HERE WE GO!”

While the Euronet C-suite disclosed no further information regarding the tie-up, Brown openly invited similar players in the market to join them in order to “gain mutual benefit and improve margins.”

Subscribe to AMBCrypto’s Newsletter


XRP closes bullish week breaking 200-day MA; on the doorsteps of the Golden Cross




XRP closes bullish week breaking 200-day MA; on the doorsteps of the Golden Cross
Source: Pixabay

On the back of the most successful week for XRP, the second largest altcoin in the market has broken, what could be equated to the first inkling of the Bitcoin [BTC] bull run. Following Coinbase’s greenlight to its New York customer to engage in XRP trading, the altcoin shattered its 200-day moving average.

Bitcoin, prior to the April 2 ascendance, which was trading at just over $4,000 and on the back of a slew of reasons, broke the $4,623 200-day moving average (at the time) creating an impetus for a prolonged pump. XRP, following the mammoth 41 percent price rise on 14-15 May, has mirrored the king coin’s rise.

The 200-day MA of XRP, which, at press time, stood at $0.352 was shattered at around 0300 UTC on 14 May, where the cryptocurrency saw a massive 25.59 percent daily gain. Continuing to ride the Coinbase bulls, the cryptocurrency added another 12.27 percent daily price rise the following day, ending its slumping streak which persisted for much of 2019.

Interestingly, the XRP price rise could not have come at a more opportunistic time. During the early days of May, when Bitcoin was breaking resistance after resistance, and anchoring an XRP-less altcoin rise, Ripple’s cryptocurrency was in a slump. In fact, the other digital asset that aims to attract an XRP-esque market, Stellar Lumens [XLM] was also in a slump prior to last week’s rise.

On a year-to-date analysis, the two cryptocurrencies jointly referred to as the “Bank Coins,” contrastingly declined by over 12 percent each, as other coins like Litecoin [LTC], Binance Coin [BNB] and even Bitcoin [BTC] saw triple-digit gains. To answer back to their crypto-contemporaries, XRP and XLM were, by far, the highest gainers during the aforementioned period, wiping clear their slumping trends.

Another key indicator for the Bitcoin price rally lasting almost two months now was the realization of the “Golden Cross.” On April 23, the king coin saw its 50-day MA cross-over its 200-day MA as the price rose above $5,350, confirming the coming of the BTC bears, which have since pushed Bitcoin’s price over $8,000.

XRP is on the verge of realizing its very own Golden Cross. Following its May 14 rise and the current green candle-stick, albeit with a major anchoring role played by Bitcoin’s ascendance, the 50-day MA for the altcoin has been broken. If the current trajectory continues, like BTC, XRP could see the 50-day surge above the 200-day and begin a major bullish swing, if Bitcoin’s prices are to go by.

Subscribe to AMBCrypto’s Newsletter

Continue Reading