Ripple presents major multi partnership to help billions of people; XRP price sees slight recovery
Over 3.7 billion individuals worldwide are unbanked or underbanked, and Ripple has revealed plans to assist them. The company tweeted on Earth Day that it views the global climate problem as one of the century’s most urgent concerns and that blockchain innovation in carbon markets may help the world achieve its environmental objectives.
The climate crisis is a defining issue of the 21st century.
We know that #blockchain innovations in carbon markets can help achieve global climate goals. On #EarthDay, explore how today’s climate leaders are building a sustainable future on the #XRPLedger. https://t.co/pEi6ZDTKHT pic.twitter.com/12sz8FJm8q— Ripple (@Ripple) April 22, 2023
Since 2018, Ripple has worked on this project with several fintech firms, foundations, academic institutions, social entrepreneurs, and non-governmental organizations (NGOs). The project has already given out $150 million in donations, and the partners are currently working in more than 80 nations.
For the billions of individuals who do not have access to banking services, the adoption of cryptocurrencies and blockchain technology may boost their economic involvement, opportunities, and sustainability. Offering low-cost, always-on money transfers in emerging economies and developing a CBDC platform for governments attempting to increase financial inclusion are two ways that Ripple sees the issue is resolved.
Additionally, Ripple wants to support a cryptocurrency economy that is viable in the future. The foundation of Ripple’s XRPL, which the company claims to be the first carbon-neutral blockchain in the world, has the potential to offer eco-friendly cryptocurrency options and more effective carbon markets. By lowering emissions, utilizing renewable energy, and funding creative carbon removal projects, the corporation has set a target of becoming carbon neutral by 2030, if not sooner.
XRP price sees a slight recovery
After bulls successfully repelled the bears’ onslaught, XRP experienced a big bounce, rising by almost 5%. After three days of losses, XRP hit a low of $0.44 on April 22. This follows a week in which risky assets like cryptocurrencies significantly fell.
Bulls quickly bought the drop at $0.456, a crucial daily MA 50 support as XRP slipped below it. The price of XRP rose again as a result of this. On April 22, the sixth-largest cryptocurrency, XRP, posted a green candlestick for the first time since April 18 as it moved to intraday highs of $0.476, registering gains. At the time of publication, XRP was up 4.23% in the previous 24 hours at $0.47, albeit some gains were beginning to slow.
XRP/USD 4-hour chart | Source: TradingView
Most cryptocurrencies also experienced modest gains after dip buying as the bears momentarily rested. Falling prices and a few encouraging signs highlighted a mixed week for cryptocurrencies.
Many traders have executed short bets due to the bearish performance thus far to profit from the declining prices. Short sellers must cover their positions whenever purchasing pressure picks up again. Therefore, the possibility of a short squeeze still exists.
One significant step favoring cryptocurrencies was the European Parliament’s adoption of full cryptocurrency legislation this past week. This was the first large region to do so. The Coinbase bitcoin exchange obtained a license to operate in Bermuda as part of its efforts to expand internationally.
Read more:
- XRP’s Popularity Continues To Grow; Ranks As The Second Most Traded Token After Bitcoin On KuCoin
- XRP Price Has A Loss Week Following Profit-Booking By Traders; Is It Ready To Bounce Back?
- If Ripple Wins SEC Lawsuit, How Much Could XRP Price Surge?