SBI Holdings plans to integrate Ripple-powered settlements across ATMs, meanwhile XRP may drop during next few weeks

Ripple partner SBI Holdings has announced plans to integrate Ripple-powered settlements across ATMs. This is the latest information released by financial statements from SBI. Moreover, this is the Ripple-powered settlements platform MoneyTap with ATMs run by various banks across Japan.

Why did SBI decide to integrate Ripple-powered settlements across ATMs?

It is known that the integration decision aims to provide consumers with easier access to money at ATMs, regardless of which bank they are using. Moreover, the integration of MoneyTap also helps banks reduce costs incurred through operating ATMs.

SBI states the following:

“Currently, each bank has an ATM with its bank app, but with a common web app, the same ATM may be used as its own jointly operated multi-bank ATM.”

Sygnum Bank added support for XRP

Not so long ago, Sygnum’s digital asset bank decided to support XRP credit, depository, and trading services. The main reason for this decision was that Sygnum co-founder Mathias Imbach claimed he was impressed by Ripple’s global traction.

He said:

“I have been impressed by Ripple’s global traction – emphasizing that more than 300 financial institutions have joined the RippleNet payments network.”

He concluded:

“The company’s XRP-based solutions address the pain points of the fast-growing $ 700 billion global remittance market.”

It seems that the price of XRP is also recovering

Just a few days ago, XRP made a full recovery after Black Thursday in March. In such a scenario, XRP price is likely to see a drop, and as expected, the breakout for XRP that took place a week ago has pushed the price down.

sbi-holdings-plans-to-integrate-ripple-powered-settlements-across-atms-meanwhile-xrp-may-drop-during-next-few-weeks

XRP/USD chart | Source: TradingView

Moreover, there are two important support thresholds tested: $ 0.18 and $ 0.14. As the price breakout progresses next week, XRP will most likely turn to support at $ 0.18. However, in the long run, the price of XRP may even drop to $ 0.14. However, if a reversal were to take place in the coin’s price action, the resistance point at $ 0.24, an emerging target as of now, is likely to become a destination for XRP’s price.

Since the beginning of the year, XRP’s correlation with Bitcoin has continued to grow steadily. In fact, over the past three months, the correlation has increased from 0.66 to nearly 0.81.

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