Ripple Sets Sights On China’s Market While Stellar Lumens (XLM) Records Significant Price Gains 

stellar xlm

Ripple has made another bold move in a bid to make payment systems more efficient. The crypto-based company has just entered a partnership with AmEx’s JV LianLian group to make card payments more efficient. This partnership is strategic since Ripple xCurrent offers many solutions that can be applied in the payment system of national and international regions. Already, 150 registered users of JV LianLian Group have successfully used blockchain technology to make payments online. xCurrent is also being used to deliver cross-border payments.

Financial Policies In China

Firms that offer card payment services outside China have a lot of difficulty running their business because of the strict financial policies that govern the region. To function, they must work with UnionPay. AmEx is the first card payment service provider to work with the state-monopoly consortium.

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.377582
-3.32%

This approval is a bold step in the right direction as it opens the bank card market in China to foreign investors. The central bank of China has said that it will continue to ease market access for institutions that deal with settlement and clearing.

Ripple, Stellar And The Cross-border Payment System

Everyone knows that Ripple and Stellar Lumens have the same target market. Both companies intend to take over the global financial system and enable seamless cross-border payment services to all. The key difference is that Ripple is trying to achieve this goal by working with institutions while Stellar believes in the power of the individual retailer. Both methodologies are effective but there is still a long margin between what the financial system is now and what both ventures hope to achieve. It’s going to take a while before mass adoption is reached.

Stellar (XLM) Price Today – XLM / USD

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Ripple is still the leading venture for cross-border transaction but it is followed by Stellar. This month, XLM cleared the monthly declining trend it has been in since April and started gaining against the USD. Yesterday, it was up by 6.20% even if the entire market was struggling to retain gains against the USD.

Stellar was able to break above the $0.25 and $0.26 level which was the resistance that held the price down for months. Breaking this resistance gave XLM the momentum it needed to move upward against the USD. Later on, it started changing hands around $0.27. This is particularly noteworthy as it hasn’t gotten this high since the end of September.

How Are XLM And XRP Doing Now?

At the time of writing, XLM was trading at $0.270224. This shows that it is up by 0.35% against the USD and up by 0.30% against Bitcoin. The trading volume over a 24 hour period is $114,123,752 and the market capitalization is $5,116,684,315. The next few days of trading will determine if the price action will change.

Main while, it’s competitor, XRP, is currently trading at $0.505063. This shows that it is up by 0.08% against the USD and up by 0.05% against Bitcoin. Over a 24 hour period, the trading volume is $331,054,143 and the market capitalization is $20,306,313,858. It is still doing well considering the fact that Bitcoin is now trading in red.

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