Ripple News Today – Top Headline for Ripple XRP, February 16th, 2020

  • Ripple invites banks and companies in the Asia-Pacific region to utilize On-Demand Liquidity (ODL)
  • Ripple Price Prediction 2020 – XRP bears seems to be at arm’s length with the $0.28 level back in sight.

Ripple News Update – Currently, the Asia Pacific region is going through a surge in terms of remittance. Though, according to a recent article by the senior product marketing manager at Ripple, Pegah Soltani, there are some challenges with transferring funds between different native currencies. Soltani declares that the APAC market makes about 2 billion remittance transactions yearly.

Ripple News Today – Ripple implores native remittance services and banks to get n touch with them if they want to upgrade their systems by utilizing Ripple’s On-Demand Liquidity (ODL) product that runs on Ripple’s native token XRP. Going further in Soltani’s article, he stated that the APAC region in the Philippines, Australia, and Thailand specifically, cash is still the major mode of a transaction when it comes to remittance. He added that 90% of transactions in Thailand are carried out in Cash. He went thus: “Cash transactions still represent a staggering 90% of Thailand’s domestic payments value.”

XRP Price Prediction 2020 – Ripple XRP Price Forecast 2020

Ripple Latest Update – the same fate goes for the Philippines, service providers have to be linked with major outlets handling cash payouts, the article explains. As gathered from Soltani’s article, the current remittance solutions are difficult to fly universally. Also, Soltani noted that transaction fees are high due to the need to pre-fund bank accounts in destination currencies before a transaction could be carried out.

Finally, Soltani promotes Ripple’s On-Demand Liquidity (ODL) in his article stating that Ripple’s ODL can enhance the remittance challenges in the APAC region and makes transactions swift and affordable. Soltani offers banks and remittance service issuers the chance to link Ripple to see how ODL can be used to improve remittance services for their customers.

Ripple Price Prediction 2020 – XRP bears seems to be at arm’s length with the $0.28 level back in sight.

XRP Price Prediction 2020 – After encountering an instant correction from the seven-month high of 0.3466 on Saturday, Ripple’s XRP/USD pair is currently going through price recovery in an attempt to regain the 0.32 level this Sunday. Ripple’s XRP price declined as low as 0.2942 after sellers took control beneath a break of the 0.33 level. Regardless of the improved uptick, XRP price is down over 6% in the last 24 hours while having a market cap of about $13.76 billion.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.176
1.61%

XRP News Now – Moreover, the XRP bulls need to clear out the instant resistance sited between 0.3185-0.3200 which is the intersection of 21,100 – HMAs and growing channel resistance to reclaim the bearish 50-HMA at 0.3254 to validate a bullish reversal. Generally, the trail of least resistance seems to be the downside amidst a bearish pattern construction and a bunch of strong upside barriers amassed for the XRP bulls to clear out. The XRP/USD pair is trading around the 0.3125 level with a 1.65% surge.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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