After a notable jump in price from $0.294060 to $0.307363 on April 30, with price volatility reaching a high of $0.315062, prices of Ripple (XRP) have settled around $0.302802. This Ripple report will have some highlights of what’s been happening in the news.
Ripple Q1 Reports
One of the darlings of 2017, Ripple enjoyed a huge bull run when value skyrocketed from approximately $0.005 to $2.30 at year end, only to plummet like most cryptocurrencies did in the beginning of 2018. Here we are with Q1 behind us and has seen some market fluctuations but nothing really noteworthy as January 2019 had another downward turn to a $0.29 low but seems to have settled around a sluggish $0.302 at the time of this report. A Q1 highlight includes three billion XRP have been released out of cryptographic escrow and 2.30 billion returned to escrow. Additionally, Ripple is listed on approximately 120 exchanges worldwide.
During the first quarter, Ripple launched RippleNet, which has been steadily increasing their global customers and financial institutions to include companies like Euro Exim Bank, SendFriend, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND , Rendimento, and more.
Partnerships for Cross-Border Remittances
Federal Bank, an Indian private sector bank, has signed a partnership with Ripple to develop cross-border remittances for international payments. Additionally UAE Exchange and Unimoni, two firms in the Finablr conglomerate, are also developing Ripple-based cross-border remittances for their international customers in Thailand.
Ripple Partners with Ria Money Transfer
“Ria’s integration with Ripple serves to build rails for an innovative payment infrastructure that seeks to provide easier access to potential partners, while delivering faster and cleaner payments to its users. Time is a vital currency for our customers and partners, so we always keep it at the center of our innovation efforts.” – Juan Bianchi, CEO of Euronet’s money transfer segment
Ria is one of the world’s top payment service providers, moving approximately $40 billion in money transfer volume per year.
Is it too late?
There have been reports that Bitbay was trading XRP for $0.53 on their platform, when the actual price has been fluctuating around $0.31. That’s quite a disparity and probably righted by the time you read this piece. I guess that saying is true, “You snooze, you lose.”
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