- UAE Exchange and Unimoni joins the ever-growing list of institutions to leverage Ripple technology.
- XRP/USD broke out and is now retesting a wedge pattern formation.
Recent Price Behavior
XRP/USD has been cooling of late, with the past three sessions having closed in the red. This comes after the bulls failed to sustain the big chunky upside momentum, which was seen on 8th February. The price had jumped around 10%, where it saw a daily close above a descending wedge formation.
The bears are pushing the price once again towards a large area known to attract big buyers. This can be observed around the $0.3000 mark, tracking right down to $0.2500. As seen on several occasions in 2018, big bull momentum has come into play from these levels.
Ripple Payment Network Adds UAE Exchange and Unimoni
Additional payments institutions will be leveraging Ripple’s blockchain technology, as per the latest announcements. This time the news comes from the United Arab Emirates, where Finablr, a global payments platform and foreign exchange organization, has announced it will be partnering with Ripple.
In a press release on Monday, Finablr detailed that its network brands and UAE exchange Unimoni will be joining RippleNet, where they will leverage blockchain technology to power real-time transactions to Thailand.
Furthermore, the UAE based payments company noted that it is looking to expand on its services to other countries in the future. Other than UAE Exchange and Unimoni, Finablr also owns the likes of Travelex, Xpress Money, Remit2India Ditto and Swych. They will be keen to leverage blockchain technology across some of their services too, according to the company’s announcement.
The Finablr CEO Promoth Manghat commented on the newly released details to use Ripple technology.