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XRP [XRP] added on Philippines exchange platform – Coins.ph

Gautham Kadri

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XRP [XRP] added on Philippines exchange platform - Coins.ph
Source: Pixabay

On 10th August, a Filipino based financial services platform, Coins.ph, announced that XRP has been added to its platform to be used as a means of payment for utilities. The Platform has already reported an average of 5 million userbases already in the platform meaning that they can use XRP for payments instead of the traditional fiat currencies.

Coins.ph enables peer-to-peer wallet transfers, payment services, mobile top-ups, internet shopping and remittance services. Running on the blockchain technology, it uses digital currency as a low-cost path to banking and extending its reach to the unbanked regions in the Philippines. By 2020, the company plans to have 20 million customers on board, mostly through the influence of XRP.

Initially, the platform was only restricted to Bitcoin [BTC] but soon started integrating various other services on its platform.

In a recent interview, the head of cryptocurrencies at Coins.ph, Colin Goltra said that currently the XRP integration has been limited to a select number of participants on the Android app.

He further added:

“We’re still gathering data and deciding on our support level for XRP

A Twitterati replied in response to the announcement:

“Great news! Sending money will be so much faster and hopefully way less expensive for you and your family!”

Another Twitter comment said:



“I have family on the Philippines. With that, i do not need @WesternUnion anymore!”

Also, the partnership with Wirex enabled many XRP holders to purchase everyday items with the Visa card where users transferred millions of XRP into it.

Another partnership between Ripple and TranferGo, a London based remittance payment company added XRP along with other cryptocurrencies for trading.





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Gautham Kadri is a full time content writer at AMB Crypto. His passion is for writing and interest towards the future of cryptocurrencies and blockchain technology. He does not hold any form of crypto currencies presently.

Analysis

XRP vs Stellar Lumens [XLM] Price Analysis: Bulls suppress bears to push market forward

Yash Rajan

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XRP vs Stellar Lumens [XLM] Price Analysis: Bulls suppress bears to move forward
Source: Pixabay

XRP, the third largest cryptocurrency, was priced at $0.383 agfter falling 1.87% over the 24 hours, according to CoinMarketCap. XRP held a market cap of $16.121 billion and registered $1.29 billion in 24-hour trading volume for XRP.

At press time, Stellar Lumens [XLM] was priced at $0.125, after falling 1.56% over the past 24 hours. It stood ninth on the top 10 list with a market cap of $19.302 billion and $844.41 million in 24-hour trading volume.

1-Day XRP

XRP saw an uptrend from $0.331 to $0.461 and a downtrend from $0.461 to $0.388. Resistances were at $0.458 and $0.420. Support lines were located at $0.371 and $0.285.

Source: TradingView

Source: TradingView

Parabolic SAR presented a bearish trend as the markers were above the candles.

Moving Average Convergence/Divergence [MACD] indicator was undergoing a bearish crossover.

Relative Strength Index showed a relatively overbought status for the coin.

1-Day XLM

On the one-day XLM chart, the resistance line stood at $0.143 and the support lines stood at $0.115 and $0.091. It saw an uptrend from $0.133 to $0.141. XLM also saw a downtrend from $0.142 to $0.125.

Source: TradingView

Source: TradingView

Bollinger Bands displayed an increase in volatility in the market as the bands were diverging.

Awesome Oscillator presented a bullish buying opportunity.

Chaikin Money Flow indicator was above the zero-line, indicating that money was flowing into the market.



Conclusion

XRP saw a fusion of bullish and bearish trends while XLM sides with the bulls after being stalled by bears for the past one month.





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