Ripple says it’s bringing a new product to market that’s centered on working capital lending

It seems that Ripple is planning to introduce a loan product to provide RippleNet members.

Ripple launch a loan product that will be offered to the growing list of RippleNet customers

In a new job listing, Ripple seems to be looking for a director of product management to spearhead the platform. This is the person who will support bring its loans from concept to launch.

The job posting stated:

“This person will bring a new loan product to market from concept to launch for RippleNet customers. This person will bring strong leadership skills as they will need to collaborate heavily with cross-functional internal teams and the financial ecosystem of partners and customers.”

To develop its new project, Ripple needs someone with strong leadership skills. This person will be tasked to collaborate with the company’s expansive list of customers. Furthermore, this person must possess essential skills, such as at least five years of product management experience who is familiar with the ins and outs of lending (scaling, pricing, regulatory requirements, etc.).

Although many cryptocurrency companies have launched platforms that allow users to receive loans by using digital assets as collateral. Such as Binance Lending. However, the task list does not mention whether XRP is part of the new offer.

“[The product manager will] create the relevant structures to properly execute on a functional loan offering, develop customer empathy around problems related to working capital needs and cross border payments, [and] develop risk capabilities to properly understand how to price new loan offerings for customers.”

Moreover, this is also a way to help Ripple allocate resources into areas other than cross-border payments.

In February 2020, CEO of Brad Garlinghouse said that Ripple could expand to other industries:

“We want to make sure that we are winning in cross-border payments before we do another verticle.”

According to the popular Ladder job recruitment website, candidates will be able to receive up to $ 250,000 per year. Although the company has yet to make an official announcement, Ripple is also looking to hire a liquidity staff software engineer that will help the company design a crypto trading platform.

Ripple’s largest ODL corridor takes part in transferring 132 mln XRP

Of all five ODL corridors, Mexico’s Bitso exchange is the largest. Over the past twenty-four hours, a large amount of XRP 132.1 million has been transferred by major cryptocurrency exchanges across the globe with the help of Bitso.

The XRPL Monitor, there were eight XRP transactions totaling 132.1 million XRP, or $ 26,089,929. The largest lump totaled 60 mln XRP ($ 11,842,017) moved by Binance between its wallets.

Bithumb transferred 24 mln, Bitstamp was also detected in this company of XRP-movers. Bitso exchange wired 30.5 mln XRP ($ 6,907,843) in four transactions.

Meanwhile, analysts are expecting the XRP price to start increasing and head for the $0.30 level. A retracement of XRP is also likely, though.

Trader ‘ProjectSyndicate’ is bullish on XRP, and believes that it is headed towards $0.30, and thus may rise seventy percent from the current $ 0.19.


Source: ProjectSyndicate

He said:

“XRPUSD 6daily chart. The setup is still valid. For the bulls, unless recent floor cracks next few days. 70% upside from here, target 30-31 cents.”

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