Ripple is expanding its operations in Japan and South Korea and buying Standard Custody & Trust Co.
The company is actively expanding; just the other day there was news about a meeting between representatives of Ripple Labs and the Central Bank of Georgia.
According to a new release, the XRPL Japan & Korea Fund has been created to stimulate innovation and adoption of XRPL in the Asia-Pacific region.
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According to the second release, the company bought Standard Custody & Trust Co for global expansion in the United States. After all, Standard Custody has about 40 licenses that allow money transfers throughout the United States.
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Today's releases do not affect the price of#XRPin any way. Also against the backdrop of the current red market. The price on June 7 adjusted to $0.45 and the restoration of the bulls’ positions is still difficult.
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But globally and fundamentally, we are talking about two more news in the treasury of the significance of Ripple’s technologies and the future of their XRP. This asset is waiting in the wings with a rapid revaluation, when some want to buy, but will buy at a price two or even three times higher than the current one. But as long as it cannot break through the EMA of the 50 weekly TF since April 2024, we cannot talk about a reversal.
The most interesting thing in the uptrend for the asset will begin with the breakdown of the global downward trend from September 2021 (indicated by a dotted line, currently in the region of $0.6678). It is important to break through the trend line and gain a foothold above it with the body of the weekly candle.