Ripple's New Partnership to Help Enhance Payments Globally, XRP Price to Target New ATH, SHIB Surpasses 4,490 Other Coins: Crypto News Digest by U.Today
Let's see what crypto news the final weekend of July brought in U.Today's top three news stories.
Ripple's new partnership to help enhance payments globally, white paper published
On Saturday, July 29, Ripple fintech giant posted about its recent partnership with Faster Payments Council, teasing a cooperatively-created white paper, in which they explained how crypto can transform the way money moves around globally. The companies conducted a survey, in which more than 300 leaders of the payments industry took part, and found out that most of them are "dissatisfied with legacy rails for cross-border payments." The results also showed that 97% of the respondents reckon that blockchain and crypto will be able to significantly transform the industry of payments over the next three years. In addition to this, more than a half of survey participants believe that the majority of merchants will start accepting crypto within one or three years. They named cost reduction as the most attractive feature of digital currencies.
XRP price to target new all-time high: Analyst
According to a recent post by technical analyst CoinsKid, XRP could be on its way to a new all-time high. To prove this assertion, he highlighted two bullish patterns formed by the Ripple-affiliated token: "double bottom" and ascending triangle. In the conclusion of his post, CoinsKid wrote, "Compression leads to expansion," implying that the constrained trading range will eventually result in a price breakout. At the moment of writing, XRP is trading at $0.70, down 2.12% over the past 24 hours. The token has seen an impressive rally recently, following a positive ruling in the Ripple v. SEC case. The ruling has increased confidence in the token's future, at the same time adding to the larger narrative of an increasingly active altcoin market.