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Ripple Spreads Operation In Europe, Will XRP Price Rally Again?

Manoj Nair




Ripple is spreading its wings in Europe with new services in France and Sweden. On Tuesday, the payment-providing protocol announced two new On-Demand Liquidity (ODL) partners. In France, it partnered with payment provider LemonWay while in Sweden, it entered an agreement with money transfer provider Xbaht.

Its latest partnership with two new entities in Europe and its strong position in its lawsuit with SEC caused XRP values to surge by more than 25% in October. Will it rise again?

Ripple Spreads Wings in France and Sweden

The agreement details were made public by Ripple in a Press Release dated October 11, revealing that it has arranged with a France-based payment provider for online marketplace LemonWay. The latter will use RippleNet’s ODL to enhance its payments process by leveraging XRP.

A similar agreement was reached between Ripple and Swedish money transfer provider Xbaht. Xbaht will use ODL to offer instant and cheap retail remittances.

France has seen increasing adoption of cryptocurrencies, with crypto exchanges proliferating nationwide. The latest partnership with LemonWay will enhance its operational capabilities and expand its business by preempting the need for pre-fund accounts during cross-border transactions.

COO at LemonWay, Jeremy Ricordeau, feels that the partnership makes payment options more flexible and enhances treasury options. It will also help create extra funds to augment business investment and improve customer solutions.

Swedish money transfer provider Xbaht will also benefit immensely from its partnership with Ripple providing instant and economical retail remittances via ODL, supported by Singapore-based cross-border payment hub Tranglo. Michael Andersen, CEO of Xbaht, feels that the arrangement will ease the fund’s transfer between Thailand and Sweden. The process will now be quicker, more dependable, and cost-effective.

XRP Price Loses Steam

The last two months have witnessed XRP values surging by more than 65%. However, in the previous 24 hrs. XRP values have tanked by more than 7%, and when reports last came in were changing hands at $0.48.

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