19.10.201807:12 Forex Analysis & Reviews: Ripple analysis for 19/10/2018

Moneynetint, based in London, focusing on payment services for corporate clients, revealed on Tuesday ongoing cooperation with the giant industry leader Ripple based in San Francisco. Moneynetint has integrated and implemented decentralized payments using RippleNet.

The payment platform, which provides cross-border money transfers and currency exchange services, said it completed the integration phase with Ripple, and has now fully implemented the Blockchain solution with payments received from other RippleNet members elsewhere.

RippleNet is a Ripple Blockchain network with over 100 members, including banks, payment providers and money transfer operators around the world. Account Manager Ripple Nadeem Ladki praised the addition of a company based in the United Kingdom to RippleNet due to the possibility of facilitating payments in Israeli claims. The statement says: "This is another big step in expanding the overall network. By leveraging Ripple's Blockchain technology, Moneynetint will now be able to simplify and reduce its clients' currency conversion rates, increase billing speeds and offer services in new markets that would otherwise be too difficult or too expensive to achieve in the past".

The blockchain is undoubtedly the flagship product of Ripple, enabling instant money transfers with liquidity on demand and end-to-end tracking as well as transparency on Blockchain. Being a member of the Blockchain corporate network, a financial institution could - theoretically - settle transactions and send money to any of 100 (or more) members in the international arena.

Let's now take a look at the Ripple technical picture at the H4 time frame. The market is moving in the channel established between the two black trend lines. The nearest support is seen at the level of 0.4307 and the nearest resistance is seen at the level of 0.4689. The nature of this move looks corrective, not impulsive, so it might only be another bullish attempt to resume trend that might soon fail. Please notice the overbought market conditions and rather a neutral momentum.