{"id":380634,"date":"2019-05-02T19:00:23","date_gmt":"2019-05-02T19:00:23","guid":{"rendered":"https:\/\/wncen.com\/?p=380634"},"modified":"2024-06-11T18:29:25","modified_gmt":"2024-06-11T18:29:25","slug":"mega-banks-joining-ripple-despite-xrp-sell-pressure","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/mega-banks-joining-ripple-despite-xrp-sell-pressure\/","title":{"rendered":"Mega-Banks Joining Ripple Despite XRP Sell-Pressure"},"content":{"rendered":"<ul>\n<li><em>Ripple (XRP) prices find support at 30 cents<\/em><\/li>\n<li><em>SABB launches Instant Cross-Border Transfer Service<\/em><\/li>\n<\/ul>\n<p><em>With the facilitation of SAMA, the primary regulator in the Kingdom of Saudi Arabia, SABB, is part of the growing RippleNet family after launching Instant Cross-Border Transfer Service that will use XRP. Meanwhile, Ripple (XRP) prices are ranging with support at 30 cents.<\/em><\/p>\n<h2>Ripple Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>The traditional global finance network is rigid. Despite what it offers\u2014and the acknowledgment that it has been steadying world economy thanks to SWIFT and globalization, it has been 43 years since its launch. SWIFT shaped lives, easing processes but it\u2019s about time an efficient competitor in Ripple Inc replace it.<\/p>\n<p>With Brad Garlinghouse as CEO, Ripple Inc admits that it has a long way before they dominate the world. However, with they have to offer, it won\u2019t be decades but rather years, before banks shift camps as they root for efficiency, speed and cost savings that Ripple Inc\u2019s xCurrent, xRapid and xVia tags along. Saudi British Bank (SABB) is now part of the growing RippleNet family, and the effort of the Saudi Arabia Monetary Authority (SAMA) is paying off.<\/p>\n<p>Here\u2019s what Majed Najm, the Deputy Managing Director Corporate and Institutional Banking at SABB <a href=\"https:\/\/www.sabb.com\/en\/about-sabb\/news-room\/News-Year-2019\/SABB-Launches-New-Ripple-Based-Cross-Border-Instant-Payments\/\" rel=\"nofollow\">said<\/a>:<\/p>\n<blockquote><p><em>\u201cSABB provides its customers with faster, safer and more transparent cross-border payment services by the launch of \u201cBlockchain\u201d technology through \u201cRipple.\u201d The Indian Rupee (INR) is a positive start to a future roadmap being the first currency to be activated in SABB. This plan aims to provide customers with a valuable service and link more countries and currencies in the near future.\u201d<\/em><\/p><\/blockquote>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-380635\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-2.png?resize=1280%2C1024\" alt=\"Ripple XRP\" width=\"1280\" height=\"1024\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-2.png?w=1280 1280w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-2.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-2.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-2.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-2.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-2.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>If anything, it is until there is regulatory clarity on <a href=\"https:\/\/wncen.com\/2019\/05\/01\/ceos-delight-ripple-xrp-has-low-correlation-with-bitcoin-btc\/\" target=\"_blank\" rel=\"noopener noreferrer \">Ripple (XRP)<\/a> status that prices will begin moving. Presently, prices are ranging, oscillating within a 10 cents range from a top-down approach and 4 cents in the short-term.<\/p>\n<p>As aforementioned in previous trade plans, once prices edge past 34 cents with high transactional volumes, traders can begin loading up on dips with modest targets of 40 cents. On the flip side, any slide below 30 cents could invalidate our stand as bears of Q4 2018 flow back driving prices towards 25 cents or Sep 2018 lows.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>Anchoring our analysis are Apr-24-25 bear bars. Even if bulls are steady and reversing losses, an effort versus result analysis point to bears. However, should there be a sharp expansion of prices with volumes exceeding Apr-24-25 average of 36 million, driving prices above 34 cents, and then aggressive traders can initiate longs on pullbacks.<\/p>\n<p><strong><em>Chart courtesy of Trading View<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple (XRP) prices find support at 30 cents SABB launches Instant Cross-Border Transfer Service With the facilitation of SAMA, the primary regulator in the Kingdom of Saudi Arabia, SABB, is part of the growing RippleNet family after launching Instant Cross-Border Transfer Service that will use XRP. Meanwhile, Ripple (XRP) prices are ranging with support at 30 cents. Ripple Price Analysis Fundamentals The traditional global finance network is rigid. Despite what it offers\u2014and the acknowledgment that it has been steadying world economy thanks to SWIFT and globalization, it has been 43 years since its launch. SWIFT shaped lives, easing processes but it\u2019s about time an efficient competitor in Ripple Inc replace it. With Brad Garlinghouse as CEO, Ripple Inc admits that it has a long way before they dominate the world. However, with they have to offer, it won\u2019t be decades but rather years, before banks shift camps as they root for efficiency, speed and cost savings that Ripple Inc\u2019s xCurrent, xRapid and xVia tags along. Saudi British Bank (SABB) is now part of the growing RippleNet family, and the effort of the Saudi Arabia Monetary Authority (SAMA) is paying off. Here\u2019s what Majed Najm, the Deputy Managing Director Corporate and Institutional Banking at SABB said: \u201cSABB provides its customers with faster, safer and more transparent cross-border payment services by the launch of \u201cBlockchain\u201d technology through \u201cRipple.\u201d The Indian Rupee (INR) is a positive start to a future roadmap being the first currency to be activated in SABB. This plan aims to provide customers with a valuable service and link more countries and currencies in the near future.\u201d Candlestick Arrangement If anything, it is until there is regulatory clarity on Ripple (XRP) status that prices will begin moving. Presently, prices are ranging, oscillating within a 10 cents range from a top-down approach and 4 cents in the short-term. As aforementioned in previous trade plans, once prices edge past 34 cents with high transactional volumes, traders can begin loading up on dips with modest targets of 40 cents. On the flip side, any slide below 30 cents could invalidate our stand as bears of Q4 2018 flow back driving prices towards 25 cents or Sep 2018 lows. Technical Indicators Anchoring our analysis are Apr-24-25 bear bars. Even if bulls are steady and reversing losses, an effort versus result analysis point to bears. However, should there be a sharp expansion of prices with volumes exceeding Apr-24-25 average of 36 million, driving prices above 34 cents, and then aggressive traders can initiate longs on pullbacks. Chart courtesy of Trading View<\/p>\n","protected":false},"author":384,"featured_media":380329,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[3680,37817,37816,4531],"class_list":["post-380634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ripple","tag-sabb","tag-sama","tag-xrp"],"acf":[],"yoast_head":"\n<title>Mega-Banks Joining Ripple Despite XRP Sell-Pressure<\/title>\n<meta name=\"description\" content=\"SABB, a multi-billion bank in Saudi Arabia, has launched a new service that will source its liquidity from Ripple (XRP). 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However, prices are tepid.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/mega-banks-joining-ripple-despite-xrp-sell-pressure\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-02T19:00:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T18:29:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/shutterstock_1164590377.jpg?fit=1000%2C667\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dalmas Ngetich\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Dalmas_Ngetich\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dalmas Ngetich\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/mega-banks-joining-ripple-despite-xrp-sell-pressure\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/mega-banks-joining-ripple-despite-xrp-sell-pressure\/\"},\"author\":{\"name\":\"Dalmas Ngetich\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\"},\"headline\":\"Mega-Banks Joining Ripple Despite XRP Sell-Pressure\",\"datePublished\":\"2019-05-02T19:00:23+00:00\",\"dateModified\":\"2024-06-11T18:29:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/mega-banks-joining-ripple-despite-xrp-sell-pressure\/\"},\"wordCount\":426,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/mega-banks-joining-ripple-despite-xrp-sell-pressure\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/shutterstock_1164590377.jpg?fit=1000%2C667\",\"keywords\":[\"Ripple\",\"SABB\",\"SAMA\",\"xrp\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/mega-banks-joining-ripple-despite-xrp-sell-pressure\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/mega-banks-joining-ripple-despite-xrp-sell-pressure\/\",\"url\":\"https:\/\/wncen.com\/news\/mega-banks-joining-ripple-despite-xrp-sell-pressure\/\",\"name\":\"Mega-Banks Joining Ripple Despite XRP Sell-Pressure\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/mega-banks-joining-ripple-despite-xrp-sell-pressure\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/mega-banks-joining-ripple-despite-xrp-sell-pressure\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/shutterstock_1164590377.jpg?fit=1000%2C667\",\"datePublished\":\"2019-05-02T19:00:23+00:00\",\"dateModified\":\"2024-06-11T18:29:25+00:00\",\"description\":\"SABB, a multi-billion bank in Saudi Arabia, has launched a new service that will source its liquidity from Ripple (XRP). 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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