Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

XRP Price Edges Up As Ripple Forms Major Partnership In Japan

Share This Post

Ripple has announced a major partnership with Tokyo-based HashKey DX, a consulting company of the HashKey Group, to deploy XRP Ledger (XRPL)-powered enterprise solutions in Japan’s burgeoning blockchain sector. The announcement led to an immediate 1.9% increase in XRP’s price, although this gain was slightly pared back; as of the latest data, XRP stands 1.1% higher since the news broke.

The Ripple And HashKey Partnership: Details

The collaboration leverages the substantial success HashKey Group has seen in mainland China. HashKey‘s blockchain-powered solutions for supply chain finance have registered over 4,000 companies, including 23 banks and 4,300 suppliers. The total transaction volume through these solutions has exceeded $7 billion, with almost $3 billion in financing transactions.

In Japan, these blockchain solutions will be adapted and deployed through a partnership involving Ripple and SBI Ripple Asia, a joint venture between SBI Holdings and Ripple. The XRPL will be the foundational technology platform. This blockchain specializes in tokenizing and exchanging both crypto-native and real-world assets.

Andy Dan, a representative from HashKey DX, highlighted the efficiency and suitability of XRPL for their needs, stating, “The XRPL was the ideal blockchain infrastructure for us to build our proven supply chain finance solution. With its proven enterprise track record and unmatched performance metrics, including rapid settlement speeds, low costs, and scalability, we are confident in our ability to drive meaningful transformation and introduce innovative, cutting-edge solutions for businesses in Japan.”

Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple, echoed this enthusiasm for the partnership: “We are excited to join forces with HashKey DX and SBI Ripple Asia to introduce XRP Ledger-powered solutions to Japan. This collaboration exemplifies our shared commitment to advancing blockchain technology and delivering tangible value to businesses.”

XRP Price Analysis

The initial spike in XRP’s price post-announcement reflects the market’s optimistic reception of Ripple’s strategic moves. However, the broader price action context reveals more complexity.

Over recent weeks, XRP has experienced volatility, notably breaking down from a symmetrical triangle pattern on the weekly chart that began forming in September 2021. This pattern typically indicates a period of consolidation, with the eventual breakout direction suggesting the prevailing market force.

XRP price

Currently, the breakdown suggests that sellers have gained the upper hand, with the triangle now acting as a resistance zone. XRP faces multiple hurdles ahead as it is currently trading below several critical exponential moving averages (EMAs) – 20, 50, 100, and 200-week EMAs, all nested within the former triangle pattern. This setup presents significant resistance levels that need to be overcome for bullish momentum to resume.

The Relative Strength Index (RSI), currently at 49, hovers near the neutral 50 mark, indicating that neither bulls nor bears have definitive control. This neutral position underlines the market’s current uncertainty, waiting for a catalyst that could drive the next significant price movement.

Should the bulls regain control and push the price above the triangle’s resistance, the 0.236 Fibonacci retracement level at $0.68410 could initiate a shift in sentiment and potentially more robust gains for XRP.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Crypto Markets Face Make-Or-Break Week—Here’s What’s At Stake

The first full crypto trading week of May compresses five heavy-hitting catalysts into four days, each poised to sway liquidity, sentiment and valuations across the digital-asset spectrum #1 Bitcoin

Dogecoin (DOGE) Sees Increased Trading Volumes, But Ruvi AI (RUVI) Is Expected to Reach $1.50 and Deliver 21,000% Returns

The post Dogecoin (DOGE) Sees Increased Trading Volumes, But Ruvi AI (RUVI) Is Expected to Reach $150 and Deliver 21,000% Returns appeared first on Coinpedia Fintech News Dogecoin (DOGE), the beloved

Blackrock Dominates ETF Flows Again as Bitcoin and Ether Inflows Soar

Bitcoin exchange-traded funds (ETFs) ended the week with a thunderous $675 million inflow, entirely powered by Blackrock’s IBIT Ether ETFs also maintained positive momentum, adding $20 million

Dogecoin Price Ready For Next 500% Wave, Here’s The Target

The Dogecoin price, currently trading below $02, appears to be gearing up for an explosive move, with technical analysts eyeing a potential 500% rally in the coming months Following a period of

Cedar Is Coming to Solana, And It Might Change Everything

The post Cedar Is Coming to Solana, And It Might Change Everything appeared first on Coinpedia Fintech News A community-led DeFi powerhouse launches on Solana on May 6th 2025 ath 12 EST with real

Bitcoin and Ethereum lead $2 billion in crypto investment inflows amid market shift

Digital asset investment products recorded $2 billion in inflows last week, bringing year-to-date totals to $56 billion, according to CoinShares’ latest market report According to CoinShares,