Although he is fighting for the supposed sale of unregistered securities in the USA, Ripple is making progress. The price of XRP even indicates that it continues to develop.
Novatti goes live with RippleNet
The leading digital banking and payments company Novatti Group Limited has previously announced that its partnership with Ripple has been live.
Collaboration between Australia and the Southeastern Asia, specifically the Philippines, in December 2020 was designed to enable cross-border transactions.
The message reads,
This focus is delivering new customers, with Novatti now partnering with the Australian subsidiary of the Philippines’s largest non-bank, Filipino-owned, remittance service provider, iRemit, through RippleNet.2 This alone is expected to result in several thousand transactions a month being processed by Novatti through RippleNet.
There are also discussions in Southeast Asia to broaden the reach of new financial service customers.
The news follows Ripple’s news with Tranglo, a cross-border payment hub based in Malaysia. In the context of this partnership, Ripple’s On-Demand Liquidity Corridors will be used and expanded.
Although the US Securities & Exchange Commission’s (SEC) securities fraud suit initially caused panic among holders and service provided companies, in other parts of the world, Ripple seems to be flourishing.
XRP price shows signs of continuing the bull rally
Ripple forms a smooth pennant pattern, a flag pole and a pennant. The 85% increase that pushed XRP to 1 $ constitutes the flagpole, whereas the ensuing consolidation in the form of lower and lower heights has led to a sharp decline.
This setup predicts a bullish swing of 45 per cent, which comes in $ 1,02 by adding the height of the flagpole to the breakout point.
After an explosive upturn, a slight correction to the lower trend line seems likely. However, a decisive close above $1,02 will signal an upswing of 45% from installation and kick-off.
If the purchasers manage to move the Ripple to $1,07 after the recent shift, the confirmation for the bull run is secondary.
The Fibonacci expansion levels of 127.2 percent and 161.8 percent will be crucial. The $1.5 XRP price target from the bullish pennant model is however interesting, because it coincides with the daily chart of the Momentum Reversal Index (MRI).
If the purchasers manage to move the Ripple to $1,07 after the recent shift, the confirmation for the bull run is secondary.
The Fibonacci expansion levels of 127.2 percent and 161.8 percent will be crucial. The $1.5 XRP price target from the bullish pennant model is however interesting, because it coincides with the daily chart of the Momentum Reversal Index (MRI).