Ripple And Litecoin Are On The Move Now

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Ripple And Litecoin Are On The Move Now

Thirteen new financial companies joined RippleNet, which means that now Ripple has over 200 partners worldwide. The better news is that five of the 13 new additions will use XRP for liquidity. The five institutions are JNFX, Euro Exim Bank, FTCS, SendFriend, and Transpaygo. The other 8 will only use RippleNet for cross-border settlements.

Despite good news constantly pouring in, XRP’s price remained somewhat stable, without significant advances to either side and so far it hasn’t matched the bullish action seen on most other digital assets.

Chart Analysis – XRP/USD

Currently trading at 0.368 against the US Dollar (aggregate price, CoinMarketCap), Ripple added just 1.67% in the last 24 hours and 1.20% for the last 7 days. The pair has been stuck in a range between 0.40 and 0.35, which will have to be broken before we can see stronger movement.

The support around 0.35 rejected price higher several times and it seems to be stronger than the resistance at 0.40 in the sense that each time it was touched (or briefly breached), the pair rallied faster than it fell when 0.40 was touched. However, that’s overanalyzing things a bit and the bottom line is that XRP is currently in a tight, choppy range, with a flat 200 period EMA, which supports this idea. Until a breakout occurs, price action will remain irregular.

Support zone: 0.35

Resistance zone: 0.40

Most likely scenario: move into the upper part of the channel created by 0.35 – 0.40; breakout uncertain

Alternate scenario: choppy movement inside the channel

Litecoin Tests Key Resistance And Psychological Level

Alongside TRON, Litecoin (LTC) is one of the best performers of the year to date, adding more than 22% during the last 7 days. Most top 20 cryptocurrencies are in the green, posting gains in 2020 but there’s no particular catalyst behind their rally except perhaps an exhaustion of the 2020 downtrend.

Litecoin on the other hand, just had an appearance in the UFC Octagon at UFC 232 – Jones VS Gustaffson 2 on December 29, 2020, becoming the first official cryptocurrency partner of the UFC. We could argue that the exposure it gained helped push its price higher but technical reasons contributed as well.

Chart Analysis – LTC/USD

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Litecoin is presently testing the key resistance at $40 after briefly reaching a high at $42. The current rally started on December 28 of last year, which is very close to the time when the Litecoin logo appeared on the UFC canvas, so call it coincidence if you want, but what’s clear is that LTC is trading in a solid uptrend, albeit only from a short to medium term perspective.

The resistance at 42.00 rejected price lower, sending the pair into 40.00 and the way price behaves here will offer clues for the next direction. A drop below 40.00 will make 37.70 – 38.00 the next target and a bounce higher will probably take price above 42.00, making 45.00 the next destination.

The Relative Strength Index is showing regular bearish divergence (price is making higher highs and the oscillator is making lower highs), which is a hint that a pullback will soon follow.

Support zone: 38.00 – 37.70 and the Moving Averages (20, 50 and 200)

Resistance zone: 42.00

Most likely scenario: retracement lower followed by a break of 42.00

Alternate scenario: break below 38.00 followed by choppy price action without clear directional bias

Move Over Ripple and XRP, Litecoin (LTC) Is Getting Into Banking

When you mention banking and blockchain technology, the first crypto any crypto-enthusiast thinks is the digital asset of XRP and the Ripple company. (We have actually come to conclude that XRP and Ripple are entirely two different entities.) Another project and digital asset that might come to mind when you mention banking and blockchain technology is Stellar (XLM). The Stellar foundation is geared towards connecting banks, payment systems, and people.

But there is a new cowboy in town by the name of Litecoin (LTC). The Litecoin foundation, through a strategic partnership with TokenPay, has acquired a 9.9% stake in Germany’s WEG Bank. This means we can now put aside the disappointment of Litepay for LTC has found its way into banking.

Through an official announcement, the Litecoin foundation agreed to provide its world-class technology and marketing expertise to TokenPay and several blockchain initiatives that include:

  • TPAY Cryptocurrency
  • eFin Decentralized Exchange (DEX)
  • TokenSuisse Asset Management
  • WEG Bank FinTech Platform
  • Multisignature Transaction Engine

Initially, TokenPay had acquired the 9.9% stake in the Bank. But now, it has been further transacted to the Litecoin Foundation to further expand the outreach of TokenPay through the above-mentioned initiatives.

Charlie Lee, the founder of Litecoin is quoted as saying:

“This partnership is a huge win-win for both Litecoin and TokenPay. I’m looking forward to integrating Litecoin with the WEG Bank AG and all the various services it has to offer, to make it simple for anyone to buy and use Litecoin. I’m also excited about Litecoin’s support in TokenPay’s eFin decentralized exchange.”

This ‘transfer’ of TokenPay’s 9.9% stake in the bank to the Litecoin Foundation is a progressive move in a sense that WEG Bank is part of the institutional investors the crypto-markets are trying to attract. The Litecoin Foundation has shown business acumen by going after an institutional firm and acquiring a stake rather than the other way round.

Prof. Dr. Jorg E. Wilhelm, Head of Supervisory Board of TokenPay Swiss AG added that:

“We are elated to be in the process of acquiring a large stake in a successful business bank based in Germany such as WEG. Our ecosystem consisting of the TPAY blockchain, WEG Bank, TokenSuisse and Litecoin Foundation provides us with a tremendous opportunity regarding merchant solutions, along with a strong and diverse customer base for our crypto debit card business. The tangible reality of bridging the gap between the old and new world is electrifying.”

It is with these two plans of merchant solutions and debit cards that both TokenPay and Litecoin (LTC) will prosper in the coming months. We also need not forget that Verge (XVG) and TokenPay are bosom buddies. Therefore, this new Litecoin and WEB Bank announcement also benefits the Verge Community!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

XRP Now Available to 2 Million New Users Via This Ripple Partnership

Ripple’s XRP is the newest addition to BRD wallet, formerly Bread wallet. BRD wallet is extremely popular among crypto users, and could potentially be a huge partnership for the asset.

The XRP token meets BRD’s worldwide audience of 2 million users

BRD is one of the oldest and most user friendly cryptocurrency wallets on both Android and iOS. Ripple and BRD have both announced their joint partnership with BRD wallet which is potentially huge for XRP because BRD has had over 2 million downloads by users in over 170 countries.

BRD allows users to buy XRP directly from within the wallet and offers cheaper rates than alternative avenues to acquire XRP. BRD wallet gave a nod to Ripple’s Xspring software Development Kit (SDK). The SDK will allow developers from a variety of projects to easily incorporate XRP.

As icing on the cake to the partnership announcement, XRP token holders will love the fact that XRP has been chosen to be one of the initial cryptocurrencies offered for BRD’s enterprise-class blockchain solution, Blockset.

Blockset provides its own wallet SDK, and it also offers API for companies looking to leverage blockchain with a blockchain agnostic toolset. It seems that Ripple and its XRP token may have quite the role to play with BRD’s future plans. They plan for full integration with Ripple’s Xspring API.

Is Ripple about to bounce back?

Ripple has been in a two year decline for the whole duration of the crypto winter. Since then, Brad Garlinghouse, Ripple CEO made headlines when he called out Billionaire crypto investor Mike Novogratz for discounting XRP as a serious contender among other cryptos.

Ahem… IS THIS THING ON… can I get a fact check on aisle CoinDesk?

XRP has outperformed BTC and the broader crypto market in 2020. XRP is up 44% (19.1 to 27.5) vs BTC’s 33% (7,100 to 9,500) so far this year.#factsmatter https://t.co/KAdFqD93t1

Ripple has also recently secured deals in the Vietnamese, Thai, and Japanese remittance markets, with SBI Asia’s largest international remittance service.

Learn how SBI Remit and Siam Commercial Bank partnered on RippleNet to deliver better remittance services and lower fees for Thai workers living in Japan. https://t.co/S2y43ZOKZ0

These remittance payments don’t actually use the XRP token itself, however, they leverage Xrapid and traditional banking infrastructure albeit in a much different and more streamlined way.

In another partnership, this time with the US remittance giant Moneygram, Ripple has also planned to expand to India’s remittance market now that they are no longer banned.

Perhaps Ripple is ready to make a major move with its SDK integrations with Blockset and BRD and its strategic moves to make progress in cross-border payments and remittances.

Ripple may be ready to make a major move to the upside, in vindication of his fateful CNBC

Crypto Class segment, when he instructed his audience to buy the top in 2020.

Do you think XRP will rise from this new wallet support? Add your thoughts below!

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