- South Korean Telecommunications company SK to launch Ripple-powered Charity platform
- Ripple Price Analysis – XRP fluctuating price trend
South Korean telecommunications company SK is ready to launch a new blockchain-powered donations platform it was created using Ripple technology. According to SK, they have been working on this project since summer last year. Currently, the project is opened for SK Group employees.
The platform is termed ChainZ, it utilizes the Ripple blockchain network, and Korean won-pinned stablecoin termed the Social Value Coin (SVC) for donations. In exchange, donors will be rewarded with a Social Value Power (SVP) utility token. Previously, the company declared that donors will be given 1 SVP token for every 1,000 SVC tokens they donate on the platform.
SK Group staff can now have access to the platform through a smartphone app. The company plans to launch ChainZ in a public campaign for charity Korea Food for the Hungry International. According to their projections, by the end of January, the charity should have raised about $27,500.
XRP (XRP) Price Today – XRP / USD
The company states that it plans to partner with NGOs to aid massive donations, targeting hunger, education, and support for single mothers. They declared that the fraction of people donating to charity in South Korea is the lowest in the Organization for Economic Co-operation and Development (OECD). To resolve this, SK states that its new blockchain-powered platform will tackle this imbalance due to its transparency feature.
Ripple Price Analysis – XRP Fluctuating Price Trend
XRP downward trend persists as the current trading range span between $0.20 and $0.18 this week. The coin must break one of these levels for the market to set the next price trend. If the XRP bulls manage to pull above $0.20, the next resistance level is likely at $0.212 and $0.228. Above this, resistance lies at $0.240 (100-days EMA) and $0.25. Also, if the traders pull the market lower, the next support is at $0.1850 and $0.1815. Below the lower level of the range, further support is found at $0.175, $0.17, and $0.167. The XRP/BTC pair continued to gradually move higher from the support at 2600 SAT. But it has only managed to surge as high as the resistance at 2710 SAT before reclining back to 2600 SAT.
XRP Price Prediction – Ripple XRP Price Prediction
It is quite difficult to predict the next action of the coin as it has to be stacked within this range for the past weeks. However, if traders pull XRP below 2600 SAT, the next support is positioned at 2530 SAT. Below this, support can be found at 2455 SAT, 2400 SAT and 2345 SAT. Also, if traders revamp and pull the market higher, the next major resistance is at 2710 SAT. Above this, resistance lies at 2752 SAT, 2800 SAT, 2900 SAT, and 3000 SAT (100-days EMA).
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.