Ripple is going well on with its partnerships with different firms and now it enters Dubai and Japan’s Financial colossal SBI. November has just started showing good signs for XRP as Ripple backs it with new deals recently. Ripple is moving pretty smoothly among its partners and on the other hand XRP is also looking steady in the market with the price mark around $0.43 USD and $0.46 USD.
The bullish start to November is a sign the XRP is well set to perform in the market unless the value of Bitcoin (BTC) drops significantly during the time. In recent past the market has been bullish but still it has not hurt XRP that badly and XRP has been able to move around a particular price mark, which is a sign of bullish momentum coming in future. This stability of coin has been due to the partnerships of Ripple with different firms and expanding its network around the world.
Ripple Entering Middle East
Ripple now looks to enter the Middle East aiming to set its office in heart of Middle East, Dubai. Ripple with the help of Dilip Rao, Head of Global Infrastructure Innovation shared this news. Roa also said that more than 200 firms are using Ripple’s RippleNet in Middle East. Dilip Rao on Ripple’s technology stated:
“If you want to send this money, particularly you’re not clear about what the fees are going to be that the bank is going to charge on the other end. And therefore, what you’ll receive might be substantially less than what you sent out. And if you’re sending money for blue collar workers, this often can be a small amount of money, $200, and the fees for these kinds of small payments can be as high as 5 to 10%. So, this is actually hurting the people who can afford it the least.”
Ripple’s this step is a very good one for long term as increasing its adoption in Middle East region was very important as it is one of the world’s economic hub. One other big reason for Ripple to enter this region is the excessive number of foreign workers working in UAE and other Middle Eastern countries. So, Ripple wants to provide those workers with low-cost and quality cross-border transactions.
Ripple in Japan with SBI
The CEO of SBI, Yoshitaka Kitao during a press conference made it clear that they are in talk with Ripple to design a project for R3, which uses Ripple’s XRP more broadly, Yoshitaka stated:
“We have already begun discussions to create a project to use XRP for R3. By using R3, XRP is used more extensively”
SBI is a well-known and one of Japans top financial institution. It is a million-dollar firm with three main businesses including, asset management, financial services and biotech. Now since involvement with SBI, the SBI network has led the development and deployment of XRP-based products in Asia.
XRP (XRP) in November
The price of XRP has been well balanced it recent past red market despite going down a bit, but new month brings new things for you. November has started with good news of digital assets. XRP has been settling around $0.45 USD. Ripple is always the key to XRP’s price, if Ripple goes on with their partnerships and developments XRP is looking for a big up thrive.
At the time of writing, XRP (XRP) was trading with a price of $0.45 USD with a market cap of $18.3 billion. Currently, XRP was surging up with a decent rate. So, XRP is spreading around different parts of world and looks to reach the top of market soon.