Ripple was recently announced as an official partner of the “cross-border payments interoperability & extension taskforce,” a subgroup within the Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures.This represents a major achievement for Ripple and the XRP cryptocurrency at a pivotal time.
The BIS taskforce aims to improve cross-border payments across multiple currencies. As one of the payment industry’s most important standard-setting bodies, the BIS provides significant validation for Ripple’s technology and solutions.
This partnership comes soon after Ripple scored a major legal victory against the SEC, with a judge confirming XRP is not a security when sold on exchanges or in retail transactions.
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Show more +Bullish Momentum Propels XRP Price
In the wake of these positive developments, XRP has mounted a rally back into bullish territory. The token recently broke out above $0.50, reaching nearly $0.56 in the last 24 hours at the time of this writing.
Trading volume has also picked up substantially, reflecting renewed investor interest in XRP. If bullish momentum continues, Ripple could be poised to retest even more highs. As a leader in enterprise cross-border payments, Ripple seems well positioned to capitalize on the need for faster and cheaper solutions. And XRP may benefit from expanding utility and adoption if Ripple’s On-Demand Liquidity service continues to gain traction.
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