The U.S. Consumer Financial Protection Bureau (CFPB) has recognized the potential of Ripple technology and XRP cryptocurrency in international payments.
On May 11th, CFPB presented a document that publishes the results of a survey on new trends in the money transfer market. The Bureau noted the continuous growth and expansion of companies working with digital assets, including Ripple. CFPB researchers believe that XRP can be used effectively for cross-border payments, as the Ripple solution allows banks and credit cooperatives to know the exact final amount intended for the recipient before the payment is sent.
Also, the report refers to the platform Global Payments Innovation (GPI) from the interbank payment system SWIFT, designed to make almost instant payments in the existing banking infrastructure. Last year, SWIFT was considering the possibility of introducing distributed ledger technology (DLT) into the GPI, checking the concept with the Corda R3 platform.
Despite the potential of Ripple, CFPB still has doubts that its solution will be used everywhere shortly. Banking networks will not lose influence and will continue to dominate the market, even if a more modern payment solution becomes available. CFPB came to this conclusion based on its estimates and a survey of market players.
This month, it became known that retail bank RAKBank from the UAE joined the RippleNet payment network, and since April the network is used by the Thai company Azimo with the oldest bank in Thailand Siam Commercial Bank for instant payments from Europe to Thailand.
Technical analysis of Bitcoin (BTC):
Over the past day, the price of bitcoin dropped to the support level of $9,500. Then it rose again to the resistance level of $9,900. Now, the price of bitcoin is $9,710. In the future, we predict an uptrend. The nearest resistance levels are $9,950, $10,000, $10,250, $10,500. The nearest support levels are $9,700, $9,400, $9,200, $8,600, $8,150, $7,900, $7,600, $7,500.
Technical analysis of Ethereum (ETH):
Over the past day, the price of ethereum fell to the support level of $208. Then it rose again to the resistance level of $215. Now, the price of ethereum is $212. In the future, we predict an uptrend. The nearest resistance levels are $216, $218, $226, $245. The nearest support levels are $209, $206, $204, $200, $198, $193, $189, $186, $183, $178, $174, $169.
Technical analysis of Ripple (XRP):
Over the past day, the price of ripple dropped to the support level of $0.20. Then it rose again to the resistance level of $0.2060. Now, the price of ripple is $0.2050. In the future, we predict an uptrend. The nearest resistance levels are $0.2060, $0.21, $0.2150, $0.22, $0.23, $0.2350. The nearest support levels are $0.2020, $0.2, $0.19, $0.1820.
