Ripple announced two new On-Demand Liquidity (ODL) partners on Tuesday as part of its ongoing development in Europe. Ripple, a payment settlement protocol startup, cooperated with Lemonway, a payment provider in France, and Xbaht, a Swedish money transfer service.
Ripple’s recent collaborations and strong position in the SEC litigation caused the XRP price to surge by approximately 25% in October. Will the price of XRP climb again?
Ripple has recruited its first partners in France and Sweden.
Ripple revealed its first ODL partners in France and Sweden in an October 11 press release. Lemonway, a payment service for online marketplaces headquartered in Paris, France, will leverage RippleNet’s ODL to optimize its payments process with XRP. In addition, Swedish money transfer company Xbaht will use ODL to enable speedy and low-cost retail remittances.
In recent months, France has seen increased crypto usage, with crypto exchanges expanding into the country. Lemonway will improve its operations and develop its business by eliminating the need to pre-fund accounts for cross-border transactions.
Lemonway COO Jeremy Ricordeau believes Ripple ODL can help the company reduce treasury processes and make payments to partners more flexible. In addition, Lemonway believes that the acquisition will assist free up capital for company investment and enhance client solutions.
The collaboration with Ripple will also benefit Xbaht. It enables speedy and low-cost retail remittances via ODL, which is supported by Singapore-based cross-border payment hub Tranglo.
According to Michael Andersen, CEO of Xbaht, the partnership will facilitate transfers between Sweden and Thailand. Furthermore, the treatment will be speedier, more dependable, and less expensive.
The XRP price has lost momentum.
The XRP price has climbed considerably in the recent two months as Ripple continues to grow and investors anticipate a victory in the SEC litigation. In the last two months, the price of XRP has increased by more than 65%. However, the price has declined by roughly 7% in the last 24 hours.
According to Ali Martinez, TD Sequential has issued a sell signal on XRP. The price could fall to $0.42 or $0.39. At the time of writing, the price of XRP is $0.48.