Ripple on Tuesday announced two new On-Demand Liquidity (ODL) partners amid its continued expansion in Europe. The payment settlement protocol firm Ripple partnered with payment provider Lemonway in France and money transfer provider Xbaht in Sweden.
Ripple’s latest partnerships and strong position in the lawsuit against the SEC caused the XRP price to rally almost 25% in October. Will the XRP price rise again?
Ripple Finds First Partners in France and Sweden
In a press release on October 11, Ripple announced its first ODL partners in France and Sweden. Paris, France-based payment provider for online marketplaces Lemonway to use RippleNet’s ODL to enhance its payments process leveraging XRP. Also, Swedish money transfer provider Xbaht will use ODL to offer instant and cheap retail remittances.
France has been witnessing increased crypto adoption in recent months, with crypto exchanges expanding to the country. With new partnership, Lemonway will improve operations and grow its business by eliminating to pre-fund accounts during cross-border transactions.
Jeremy Ricordeau, COO at Lemonway, think Ripple ODL will help firm improve treasury operations and make payments to partners more flexible. Also, Lemonway the partnership will help free up funds for business investment and enhancing customer solutions.
Xbaht will also benefit from partnership with Ripple. It enables instant and cost-effective retail remittances through ODL, supported by Singapore-based cross-border payment hub Tranglo.
Michael Andersen, CEO at Xbaht, believes the partnership will ease remittances between Sweden and Thailand. Moreover, the process will now be faster, reliable, and cost-effective.
XRP Price Loses Momentum
The XRP price saw massive price action in the last two months as Ripple continues expansion and investors expect a win in the lawsuit against the SEC. The XRP price jumped over 65% in the last 2 months. However, the price plunges nearly 7% in the last 24 hours.
According to crypto analyst Ali Martinez, TD Sequential is indicating a sell signal for XRP. The price can fall to $0.42 or $0.39. At the time of writing, the XRP price is trading at $0.48.
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