Ripple has partnered with Portuguese currency exchange provider Unicâmbio to offer instant international payments between Portugal and Brazil. The service uses Ripple’s payments platform, which incorporates digital assets to facilitate cross-border settlements.

Meanwhile, the XRPUSD H1 chart shows a bearish correction in progress. The uptrending trendline support could play a crucial role in determining the next movement on the intraday charts.

Ripple Links Portugal-Brazil for Faster Transfers

Unicâmbio’s corporate customers can transfer funds and settle payments within minutes. Ripple said this is its first entry into the Portuguese market.

“Portugal has developed a thriving crypto ecosystem so we are delighted to open up our payments solution to partners there,” said Cassie Craddock, Managing Director for the UK and Europe at Ripple.

Ripple’s payments system operates on the XRP Ledger. Users can send and receive various currencies, including fiat and crypto assets, through a financial institution network using the XRP token.

“By connecting our payment networks in Portugal and Brazil we are facilitating faster, more cost-effective cross-border payments, while strengthening the economic bridge between these two major markets,” Craddock added.

XRPUSD Nears Support, Awaiting Price Direction

The XRPUSD H1 chart indicates that the price has been undergoing a bearish correction after facing rejection at the 2.53000 level. Currently, the cryptocurrency is trading near the support of an uptrend trendline.

A bearish candle appears to have broken through the support level, followed by a bullish inside bar. If a bearish engulfing candle forms at the broken support area, it may push the price further down. Conversely, a bullish candle could attract buyers, potentially driving the price upwards.

This article was written by Tareq Sikder at www.financemagnates.com.TrendingRead More

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