Ripple appears on the list of the top 100 biggest cross-border payment companies together with the likes of UBS and PayPal

The payment blockchain company based in San Francisco Ripple has been recognized as one of the most prominent players in the cross-border payments industry by financial data company FXC Intelligence

Ripple is the only crypto-related company that made it to the top 100. The list was divided into several sections that feature the world’s biggest banks (Bank of America, Deutsche Bank, City, UBS) as well as large publicly traded companies such as Visa and PayPal.

Many of the names that appeared on the list are actually partners with Ripple. The most salient examples are MoneyGram and TransferGo.

Xpring Plans to Work with Ethereum

Last weekend, Ripple’s investment arm and platform for software devs that allows them to work with crypto payments, acted as a sponsor of the ETH Denver hackathon – one of the largest ETH conferences and hackathons in the US.

According to Xpring, the company believes a rising crypto tide will lift all boats. That scenario makes creating an effective way to swap between two of the largest cryptocurrencies by market cap well worth the effort.

“We believe that developers should be given a choice on how to solve their problems, which is one of the reasons why we think interoperability is so important for crypto and blockchain technology to reach mainstream adoption.

We think the XRP to ETH and ERC-20 tokens bridge is important since XRP is one of the most liquid cryptocurrencies in the world, but doesn’t have a compute layer to support complex smart contracts for the growing Decentralized Finance (DeFi) market on Ethereum.”

Xpring says it plans on working with an increasing number of blockchain and crypto communities in the future.

XRP Plunges Alongside Bitcoin and Most Other Major Altcoins

At the time of writing, XRP is trading down 1% at its current price of $0.272, which marks a notable decline from highs of over $0.33 that was set just prior to the market-wide flash crash.

It is important to keep in mind that the embattled crypto has been able to recover slightly from lows of $0.26 that were set at the bottom of this selloff, and it does appear that its price is largely moving in tandem with that of Bitcoin at the moment.

Some analysts are noting that there is still upside for XRP, although it may see further downside before it is able to climb higher.

AMD Trader spoke about this in a recent tweet, noting that it hasn’t yet hit his buy target.

“I’ll let you guys know when I go heavy long on xrp I still think there is upside, but I’m not trying to catch a falling knife that hasn’t hit my target,” he said.

Peter Brandt, a popular analyst on Twitter, recently explained that XRP could be forming a bearish head and shoulders (H&S) formation, and if this plays out it could send the crypto down to lows of $0.20.

In the near-term, whether or not the technical formation is confirmed will likely depend nearly entirely on whether or not Bitcoin is able to find some support around its current price levels.

If the benchmark crypto does start moving lower in the near-term, it is probable that major altcoins like XRP will see some major short-term downside.

Read more:

Follow us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like