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XRP back in the green zone but a drop might occur soon; the SBI deal and PNC examined

Bitcoin

XRP is ranked at #3 below Ethereum and Bitcoin in the market. The price bounced up at a rate of 0.75% in the course of the past 24-hours. The trading volume recorded is $1.245 billion, while the supply has 42,932,866,967 XRP coins in play. As of this moment, XRP is priced at $0.255321, and the total market cap of XRP is $10.961 billion.

PNC Finances had teamed up with RippleNet in order to carry out speedy cross-border transfers. Due to the advent of distributed ledger technology [DLT], institutional executives can interact with their customers who purchase their solutions with ease. PNC is amongst the top 10 banks in the United States of America in terms of assets. It was established back in 1845, and now has over 9,000 ATMs scattered throughout the world.

RippleNet offers xRapid as well as xCurrent as the best services in order to accelerate adoption. The involvement of banks is a key factor in Ripple becoming a household name. Ripple aims to have a near-perfect network involving organizations and already has more than 2 dozen banks who use XRP to initiate transactions.

SWIFT was primarily used by banks in order to settle cross-border transactions. Although, this ended up being a drawn-out process, and the fees are astronomically high. This is where RippleNet comes in; even though XRP is centralized, the transfers finish within minutes.

SBI Holdings[which operates under the SBI Group based in Japan] will henceforth ask shareholders to accept XRP dividends. This initiative will kick-off at the end of September 2019. However, XRP is yet to propelled by a reasonable amount of bullish force.

For the purpose of qualifying, shareholders would need to have a VC trade account. SBI and Ripple have been collaborating for a year, and the future bring about heightened success for both companies. XRP will next experience resistance close to the $0.28 mark, and support lies near $0.237.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.