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Home»EXCHANGE NEWS»XRP price is set for a massive 63,000% breakout as Ripple secures a key partnership in Europe.
EXCHANGE NEWS

XRP price is set for a massive 63,000% breakout as Ripple secures a key partnership in Europe.

By Crypto FlexsJune 6, 20243 Mins Read
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XRP price is set for a massive 63,000% breakout as Ripple secures a key partnership in Europe.
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In a market that has witnessed strong bullish momentum with several cryptocurrencies hitting all-time highs and experiencing price recoveries, the price of integration stage Over the past two months, after a brief surge in March to hit a yearly high of $0.7430.

However, recent positive developments and announcements surrounding XRP and related blockchain payments company Ripple, combined with an interesting bullish pattern, have sparked speculation about a potential large investment. uptrend XRP price.

Ripple expands with Clear Junction partnership.

Recent Ripples exposed Through our partnership with Clear Junction, a global provider of cross-border payment solutions for regulators.

According to the announcement, the new collaboration aims to enable Clear Junction to facilitate “instant and secure” guaranteed GBP and EUR denominated payouts for Ripple’s payment customers. Ripple also plans to further expand its product network by introducing support for additional currencies later this year.

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Cassie Craddock, Ripple’s Managing Director for Europe, expressed her satisfaction with the partnership:

Clear Junction is a great fit for Ripple. From day one, we have been able to support all use cases, including providing GBP and EUR payout coverage to customers sending payments to the UK and EU.

Clear Junction, an FCA-approved e-money institution in the UK, provides operational support and reporting to provide a safe environment for its partners.

The goal is We ensure the safety and protection of your funds through the necessary payment industry and data security safeguards. The company has achieved ISO 27001 certification, the highest global data security standard.

Dima Kats, founder and CEO of Clear Junction, emphasized the importance of the partnership, saying blockchain technology and cryptocurrencies will be key to the development of correspondent banking. Kats added:

We are excited to partner with Ripple and participate in this process. This collaboration represents an example of two organizations coming together to enhance their respective products and services. We look forward to working closely with the Ripple team and exploring more avenues for future growth.

XRP price at $300?

Currently trading at $0.5269, XRP is experiencing a prolonged consolidation phase between $0.4780 and $0.5441.

Despite the great shortfall catalyst A retest of the January 2018 all-time high of $3.40 is looming on the horizon to push the token to previous highs.

A cryptocurrency analyst known as “Jack The Rippler” has identified a bullish triangle pattern emerging on the daily XRP price chart, as seen in the image below.

XRP forming a bullish triangle. Source: Jack the Rippler on X

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As pointed out by the analyst, if the pattern fully breaks above $0.600 and the expected bullish uptrend materializes, the expected 63,000% surge will send the XRP price skyrocketing to around $331.

Nonetheless, the realization of this scenario remains uncertain, and the period required for XRP to overcome upper levels is resistance level Not decided yet. The upper resistance level is currently at $0.5414 and the near-term is at $0.5574.

XRP price
The one-dimensional chart shows the sideways price movement of XRP. Source: XRPUSD on TradingView.com

Featured image of DALL-E, chart from TradingView.com

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