Ana Sullivan

Ripple (XRP) Token for 2018 – Will Santander Launch Result in Price Spike?

by Ana Sullivan April 24, 2018

The Global banking giant Santander Group has reportedly begun a blockchain-based applications for cross-border payments and foreign exchange. According to reports by Coindesk and The Financial Times, a blockchain-based application for cross-border exchanges has launched via an app, named One Pay FX. The program is to be pushed into Santander’s customers in Spain, the United Kingdom, Brazil and Poland so far. Since the app has been built on the distributed ledger technology which has been provided by the Ripple blockchain startup after two years of work, many investors do believe that Ripple’s recent good performance is likely to further increase soon. But will this increase be for good this time and will it hold value for all the people and organizations who believe in the tech?

 

XRP Token In a Recent Spike, Bullying the Competition


It has been a good month for cryptocurrencies and Ripple is one of the biggest gainers at this point. The fidget spinner sign’s token rose another 5,24% to the price of $0,921304 against the US dollar in a stunning week of good performance. And when we check the candle stick analysis on CryptoCompare, it immediately becomes evident that a bullish trend may be present, based on several mini-hammers resulting in the price beginning to form somewhat a hammer, since April the 24th, 2018.

 


And when we zoom out and see how the XRP token has performed the last 7 days, it becomes obvious that if the volume rises or stays on this level the price is less likely to drop anytime soon. The volume of XRP at the current price is just a bit above 1 billion, which is nothing when we compare it to the insane 8 409 200 000 USD in XRP invested when the price of the token reached $3,56, no matter how you look at it. But being on the rise, Ripple is not spiking which also hints that there is no artificial involvement in this crypto, suggesting that the main reason for that likely is increased investor interests as a result of the recent price increases of the token.

 

Will Ripple’s Project With Santander Result In New All Time High?

 

According to recent reports, the Santander group has announced that it expects to introduce the service, using Ripple’s distributed ledger in several countries for small businesses in the coming months to use. While this is good news, we should not forget that the performance of the company does not have anything to do with XRP. So an immediate effect will likely result in a short-term price gain. But if the project results in a successful implementation of the cross-border foreign exchange platform, the user interest and credibility of Ripple will surely rise a lot, resulting in a higher long-term investor interest. So we need to keep monitoring this project and it’s outcome and also other projects in which Ripple is involved in in order to see if they turn out to be success.

 

Furthermore, when we get back to Santander, the Spain-based banking organization has begun the project the distant 2016 and the partnership with Ripple has continued ever since, resulting in it’s venture arm called InnoVentures to invest millions in Ripple’s funding an year before that.

 

In addition to this Santander Group has also indicated in a presentation that their application has been based on the xCurrent platform, one of Ripple’s three main platforms, which is designed for cross-border payments. And the best part from the project is that according to reports, the app could manage almost half of the volume of the customers, which is a partial success.

 

So, for a brief conclusion, with over 200 financial institutions on the board, developing projects, like the Santander’s foreign exchange platform, using Ripple’s ledger, it is surely a good idea to keep an eye on this developing San Francisco startup which has already went mainstream. But the fact does remain that humans often react in masses, so a good advice would be to refrain from the crowd, clear your mind and follow Ripple’s developments on their social media and other websites you can rely upon, and as an investor, never put in more funds than you can afford to lose.

 

 

 

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