In the volatile world of cryptocurrency, various digital coins are ascending to unprecedented heights in a robust bullish market. Among these, XRP, the cryptocurrency conceived by the blockchain payment innovator, Ripple, has not largely participated in the recent financial jamboree. Instead, it has endured within a consolidation phase over the last couple of months following a striking rally in March.
However, the static stratum of XRP might be on the brink of disruption. Ripple’s recent strategic collaborations and exciting announcements have invited speculations of a possibly massive uptrend in XRP’s price. Notably, Ripple’s new partnership with Clear Junction, a prominent cross-border payment solution provider for regulated institutions on an international scale, adds fuel to these conjectures.
The alliance between Ripple and Clear Junction intends to equip the latter with the facility to deliver secure and instantaneous payout coverage in both GBP and EUR denominations. This service will cater to the payment needs of Ripple’s customers as part of their broadening network of offerings.
Shouldering the satisfaction bestowed by this new partnership, Cassie Craddock, the Managing Director of Ripple in Europe, appreciated Clear Junction’s compatibility with Ripple. With the infrastructure to back Ripple’s wide range of use cases, Craddock believes Clear Junction will effectively serve their clients who enact payments directed towards the UK and the European Union.
Clear Junction, a UK-based e-money institution authorized by the Financial Conduct Authority, is renowned for providing secure operational support to its partners. It is certified by ISO 27001, the highest globally recognized data security standard, and is known for maintaining the safety of funds through required payment industry safeguards.
Dima Kats, the Founder and CEO of Clear Junction, articulated that the significance of the partnership relates deeply to the anticipated evolution of correspondent banking led by blockchain and cryptocurrencies and looks forward to evolving side by side with Ripple.
As of now, XRP is trading at $0.5269, navigating a prolonged period of consolidation within the price range of $0.4780 and $0.5441.
Despite the pronounced lack of substantial catalysts potent enough to push the token to revisit previous peaks, a return to its all-time high of $3.40 in January 2018 is speculated. A diligent analyst known as “Jack The Rippler” has discerned a bullish triangle pattern emerging in XRP’s daily price chart. If XRP breaks free of this pattern above the $0.600 mark, as predicted by the analyst, there could be a phenomenal 63,000% surge, potentially pushing XRP to an astonishing $331.
However, such a scenario remains ensnared in uncertainty. The exact timeline needed for XRP to surmount its upper resistance levels and make a significant mark is still largely undisclosed and the near-term resistance levels currently sit at $0.5414 and $0.5574. With uncertainty coursing through XRP, the coming days are laden with potential for revealing a defining truth the token’s destiny.
