XRP is on the agenda with Ripple’s new partnership news in Europe and the United States. New collaborations participating in Ripple’s global payment network aim to increase the real usage area of XRP. The new payment corridor, especially developed between Portugal and Brazil, opens the door to the more adoption of XRP in international transactions. So, how will these developments affect the XRP price? Here are the details!
Ripple entered the Portuguese market
Ripple established an important partnership with Unicâmbio, the leading foreign exchange service provider of Portugal. This cooperation enables companies to make cross -border payments faster and more costly. Ripple Payments (formerly known as On-Demand Liquity) technology effectively uses XRP in this process.
Moreover, Ripple’s expanding the Brazil-ported payment corridor. In addition to the existing partners in Brazil, Travelex Bank and Mercado Bitcoin, Unicâmbio’s participation increases the importance of this corridor. Thanks to the economic and cultural ties between Brazil and Portugal, this way of payment offers great potential.
Expectations are also high in the US market
Things for Ripple in the United States may change rapidly. Rumors about the resolution of the Ripple and SEC case in March create excitement in the market. In addition, Ripple’s public offering plans attract investors. These developments in the United States can enable XRP to be adopted by a wider audience.
Further adoption of XRP can have positive effects on the price in the long run. However, XRP needs more powerful price movements to recover investor confidence. In this process, Bitcoin’s price movements can also determine the direction of XRP.
Can the XRP price see $ 3?
The XRP is currently trading at 2.49 and the 2.27 support level is quite critical. According to analysts, if it is permanent above this level, the price may gain acceleration towards $ 3. However, if this support is broken, the price has a risk of decreasing below $ 2.
Ripple’s growing network and new partnerships give hope for the future of the XRP. In particular, more companies’ adopting Ripple’s payment solutions may increase the request for XRP. This can allow the XRP price to reach stronger levels in the long run.
