XRP is up 5%, currently trading at $2.50. While this isn’t a massive jump, it comes alongside some big moves from Ripple that could change the game. The company has just announced major expansions that strengthen its global payments network – one in Europe and another in Latin America.
But will these developments be enough to push XRP higher? And what does this mean for Ripple’s future, especially with the ongoing SEC battle in the US? Let’s break it down.
Ripple’s President, Monica Long, recently shared exciting updates on X, revealing two key expansions aimed at strengthening Ripple’s global payments network.
The first big announcement is Ripple’s entry into Portugal. The company has partnered with Unicâmbio, Portugal’s leading currency exchange provider, allowing businesses to make fast, low-cost cross-border payments using Ripple Payments (formerly On-Demand Liquidity). This means companies in Portugal can now send and receive money internationally more efficiently, powered by XRP.
Ripple is also expanding its Brazil-Portugal payment corridor. Unicâmbio will now work alongside Ripple’s existing partners in Brazil, including Travelex Bank and Mercado Bitcoin. Since Brazil and Portugal have strong economic and cultural ties, this partnership could help streamline money transfers between the two countries.
These expansions go beyond new partnerships—they show Ripple’s increasing influence in Europe and Latin America. By adding Portugal to its network and strengthening ties with Brazil, Ripple is positioning itself as a key player in global finance. XRP’s role in these transactions is also growing, increasing its real-world use.
While Ripple is expanding internationally, it is also gaining ground in the US. Rumors suggest the Ripple vs. SEC lawsuit could be resolved by March, potentially clearing the way for Ripple’s IPO. Investors are watching closely, as XRP needs a strong push to rebuild confidence in the market.
Despite positive developments, XRP’s price remains stable, trading around $2.49. Analyst Ali Martinez highlights $2.27 as a key support level—staying above it could drive a move toward $3. However, if XRP drops below this level, it risks falling under $2.
XRP has been on an uptrend since December 2024, but it is now testing key support levels amid cautious market sentiment. Bitcoin’s price movements will also play a role, as the broader crypto market often follows BTC’s lead.
While XRP’s price hasn’t reacted strongly yet, these partnerships could have a lasting impact. As more businesses adopt Ripple’s payment solutions, demand for XRP could rise, possibly driving its price higher in the long run.
The Paraguay government asked its citizens, on Monday, June 9, to ignore X posts made…
The Shiba Inu community has something new to cheer about. As the Shiba Inu team…
Starting your investment journey can feel overwhelming, especially in the fast-moving world of cryptocurrency. If…
The XRP price remained consolidated within a tight range for over a couple of years,…
Investors are scouring the crypto market for the best crypto to buy now, seeking tokens…
For most blockchain developers these days, the focus of their efforts is no longer just…
