Ali Martinez, a cryptocurrency analyst, claims that TD Sequential is showing a sell signal for XRP.
With payment processor LemonWay in France and money transfer processor Xbaht in Sweden, the payment settlement protocol company Ripple has teamed up.
The XRP price increased by about 25% in October as a result of Ripple's most recent agreements and solid defence of its legal position against the SEC. Will the XRP cost increase once more?
First Partners for Ripple are Found in France and Sweden
Ripple announced its first ODL partners in France and Sweden in a press release on October 11. LemonWay, a payment service for online marketplaces situated in Paris, France, will use RippleNet's ODL to improve its payment process by utilising XRP. Additionally, the Swedish money transfer company Xbaht will use ODL to enable quick and affordable retail remittances.
In recent months, France has seen a growth in the usage of cryptocurrencies, and crypto exchanges are now present there. LemonWay will expand its company and enhance operations thanks to the new cooperation by doing away with the need to pre-fund accounts for international transactions.
LemonWay's COO, Jeremy Ricordeau, believes that the use of Ripple ODL will aid the company's treasury processes and increase the flexibility of partner payments. Additionally, the agreement with LemonWay will help free up funds for corporate investment and improving consumer services.
The collaboration with Ripple will be advantageous for Xbaht as well. With the assistance of Singapore-based cross-border payment hub Tranglo, it makes it possible for instant and affordable retail remittances through ODL.
The agreement, in the opinion of Xbaht CEO Michael Andersen, will facilitate remittances between Sweden and Thailand. Additionally, the procedure will now be quicker, more dependable, and more economical.
The XRP Price Declines
As Ripple continues to expand and investors anticipate success in the litigation against the SEC, the price of XRP experienced significant price movement over the past two months. Over 65% of the XRP price increased in the previous two months. However, over the past 24 hours, the price has dropped by around 6.5%.
Ali Martinez, a cryptocurrency analyst, claims that TD Sequential is showing a sell signal for XRP. It might drop to $0.42 or $0.39. The price of XRP is $0.477 at the time of writing.
