xRapid Expanded by Ripple, Boosts Payment Platform Backed By MasterCard and MIT

Ripple is integrating xRapid backed by MIT Media Lab and MasterCard to lower cost and increase the efficiency of cross-border payments

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.474324
9.76%

This year, SendFriend will be launched and is targeting the Philippines. It plans to give expatriates an easy and cost-effective way to send money home. This project won the MIT Media  Lab Translational Innovation Alliance Award. It was built at MIT by the CEO and founder named David Lighton.

A new level of efficiency

xRapid offers users a new level of efficiency. Lighton says:

That allows us on the back end to be more efficient with our capital. These are real-time settlements, so we don’t have to do pre-funding, we don’t have to park money in the receiving corridor and then manage the foreign exchange risk. We can just do it one by one as the transactions go through.”

This platform is built for millions of migrant workers who have to pay excessive fund for international money transfers.

SendFriend says the firm’s complete list of supporters include TechStars, Barclays, Ripple, Mahindra Finance, MIT Media Lab, and the MasterCard Foundation.

SendFriend says the company’s complete list of backers includes Barclays, TechStars, Ripple, MIT Media Lab, Mahindra Finance and the MasterCard Foundation.

XRapid from Ripple is built to power instant cross-border using XRP.

XRP price analysis

At the time of this writing, XRP is being traded at $0.46959. The digital currency has failed to break through the resistance zone after the first attempt. Quotes have gone to the support zone. This was followed by a sharp upward movement as well as attempt to break through the resistance as well as upper limit of the channel.

Sadly, this time, the bulls could not achieve this, and the breakdown of the upper boundary is false. If no positive news comes, the price will go down again.

The forecast for today shows that we can expect a downward corrective movement. Volumes do not confirm pulse growth and breakdown of the upper boundary of the channel.

Maybe we will see a further upward trend this weekend. However, until the price of XRP finally consolidates around $0.47500 and the buyers do not form levels above the downstream channel, a decline to the support area, a bounce from the resistance area and continued flat price movements is to be expected. It should remain within the limits of $0.47000 – $0.44000. The price can still test the $0.47800 again just before going down. Then it will be much easier for it to fall.

Another scenario is a support from users as well as the news background of more growth to consolidate above of $0.47500 level and go to $0.49000. The option is very possible since the bulls may need some time to form their interest zones, leaving the support zone might not be necessary.

 

SEE ALSO:   Many SWIFT-enabled Banks Are Using Ripple’s Tech According To Brad Garlinghouse

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