Ripple Partners With 5 New Clients Across 4-Countries – XRP/USD Slips Lower

Ripple has announced that five new clients across four countries have joined its RippleNet platform to facilitate payments.

Two of the clients are banks from Brazil and India, and three are remittance providers from Singapore, Brazil, and Canada.

Ripple said it recently surpassed the 100-member mark, many of which operate in emerging markets.

“When financial institutions adopt blockchain technology for payments, it lowers both costs and transfer times for their customers, which is crucial in developing countries where financial flexibility is limited,” it said.

The prices of major cryptocurrencies continued lower for the second day in a row, with Bitcoin, Ethereum and Ripple all suffering significant declines, as overall market sentiment waned.

Ripple has plunged by 20% since last Saturday and is currently threatening to become worth less than $1. Both Ethereum and LiteCoin also dived by roughly 5% in the same time period.

On the technical charts, XRP/USD is trading in the negative zone. Currently, the market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 42.14 and the MACD is ready to make a negative crossover below the signal line.

Trade suggestion:

Sell limit at 0.906100, Take profit at 0.83500, Stop loss at 0.96600

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