• Ripple's partner Airwallex announced the launch of its international payment service in New Zealand. 
  • Businesses in New Zealand can now settle transactions through Airwallex, a user of Ripple's enterprise blockchain network RippleNet. 
  • Analysts believe XRP price could recover from the slump and set a bullish target of $0.42 for the altcoin. 

Airwallex, a leading financial services platform, expanded its payment services to New Zealand. The fintech firm joined RippleNet in 2017 and offers services to businesses as a substitute for conventional banks. 

Airwallex takes RippleNet to New Zealand

A leading international financial platform headquartered in Melbourne, Australia, recently announced the expansion of its payment services: Airwallex now offers its global services to businesses in New Zealand. The firm joined RippleNet, Ripple's enterprise blockchain, in 2017, and since then, it has offered a fast, cost-effective and transparent alternative to traditional banks. 

New Zealand based businesses now have access to Airwallex's service offerings, including multi-currency wallets in over 11 currencies, international collections, and local payouts in over 30 currencies. Airwallex plans to roll out its services progressively in the new market, including employee cards, spend management, and online payment acceptance capabilities. 

Airwallex is a substitute for conventional banking, and Ripple's enterprise blockchain network powers the financial services firm's offerings. 

Ripple developers pass the baton of XRPL codebase to XRP ledger foundation

In another development for the altcoin, Ripple developers, who have been caretakers of and contributors to the C++ reference implementation of the XRPL protocol codebase for a long time have now passed the baton to the XRP Ledger Foundation. 

The foundation is an independent non-profit entity that works to support the development and usage of the XRP Ledger. The authoritative repo for the code now has a new home at the XRP Ledger Foundation. 

XRP price prepares for big move 

Analysts at FXStreet believe the best-case scenario for XRP price is a comeback to $0.37. Ripple is trading at $0.31 at the time of writing, and analysts have predicted a 20% rally in XRP price. A continuation of the XRP uptrend could push the Ripple price to $0.42. 

FXStreet analysts have identified what Ripple needs to do to cover lost ground in the recent slump. For more information, watch this video:

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

COTI price surges on Central Bank of Israel CBDC project participation

COTI price surges on Central Bank of Israel CBDC project participation

COTI (COTI) price retraces by 1.2% at $0.1125 at the time of writing on Wednesday after breaking above a descending wedge pattern last Friday, leading to an 8% rally over the subsequent four days. 

More Cryptocurrencies News

Bitcoin price could react to potential clash between Kamala Harris and Donald Trump at July Bitcoin Conference

Bitcoin price could react to potential clash between Kamala Harris and Donald Trump at July Bitcoin Conference

Bitcoin price struggles around $66,000 on Wednesday. US spot Bitcoin ETFs experienced minor outflows on Tuesday, coinciding with the continued movement of Mt. Gox funds for repayment, which could exert downward pressure on Bitcoin's price.

More Bitcoin News

Solana hovers around $180, resists sell-off despite $22 million SOL transfer

Solana hovers around $180, resists sell-off despite $22 million SOL transfer

Solana whale transferred nearly 124,000 SOL tokens to Binance on Monday. The $22 million transfer could contribute to selling pressure on Solana, raising concerns among traders. 

More Solana News

PEPE price poised for a rally after retesting trendline support

PEPE price poised for a rally after retesting trendline support

Pepe price breaks out of the descending channel pattern, signaling a change in market structure from bearish to bullish. On-chain data shows that PEPE's Long-to-Short ratio is 1.66, suggesting a bullish bias.

More PEPE News

Bitcoin: Will BTC continue its bullish momentum?

Bitcoin: Will BTC continue its bullish momentum?

Bitcoin (BTC) price increased by 5.5% this week until Friday after breaking above a descending trendline. Currently, it is trading slightly higher by 0.23% at $64,166.

Read full analysis

BTC

ETH

XRP