Ripple Partners With CIMB, XRP/USD Recovers From The Crash

XRP/USD is changing hands at $0.4761, up 3.3 % on a daily basis since Thursday, off the recent lows. Currently, Ripple’s coin is ranked the 2nd largest coin with a market value of over $19 Billion.

Recently, the company has been expanding its partnership. According to a press release, which was published on Ripple’s website, CIMB (ASEAN’s 5th largest bank) has joined RippleNet to create a faster cross-border payment transfers system between the countries located in the region. This partnership will allow CIMB to expand its network of global payment as well as join the network of other Ripple customers.

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.294519
4.00%

CEO of CIMB Group, Tengku Dato’ Sri Zafrul Aziz said: “We are delighted to be part of RippleNet and look forward to a fruitful partnership with Ripple by leveraging each other’s strengths and capabilities. This innovative blockchain solution will revolutionize international cross-border remittances, and is a testament to CIMB’s ongoing efforts to enhance its digital banking proposition by providing speedy and cost-efficient solutions to our customers across ASEAN.”

From the short-term view point, XRP/USD is capped by SMA100 (1-hour) at $0.4949. Once cleared, the recovery may be extended towards psychological $0.50. The support lies with $0.4727 (SMA50, 1-hour) and 4700 on the downside.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.