Ripple Enters Partnership with the National Bank of Egypt
Login

Ripple Enters Partnership with the National Bank of Egypt

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


Ripple (XRP) continues to expand its footprint in the MENA region. The cryptocurrency provider announced today that it signed a new partnership with the National Bank of Egypt.

With the new partnership, Egypt’s largest banking institution in terms of assets can facilitate remittance inflows from the United Arab Emirates through LuLu International Exchange.&.

The North African country currently takes the sixth position in the global remittance recipient rankings, with overseas indigenes sending about $24.4 billion home last year.

Ripple MD for South Asia and MENA Navin Gupta illustrated the economic importance of fast and cheap remittances, noting that:

“The ability to send and receive money quickly, reliably, and inexpensively today plays a larger role than ever before. Ripple is proud to partner with NBE and LuLu Exchange to bolster the MENA region’s financial infrastructure and provide a frictionless cross-border payment experience for the Egyptian community.”

Ripple entered a partnership with Lulu Financial Holdings, an Abu Dhabi-based investment company, in January 2020.

The cryptocurrency provider has maintained a robust presence in the MENA region for some years now. In February 2018, the San-Francisco-based company partnered with Arabia’s central bank to help the banking sector facilitate payments with its superior technology.

Ripple has partnered with banks in Oman, Kuwait, and the UAE.

Key Ripple Levels to Watch — May 19

As the cryptocurrency market struggles to stay afloat, XRP remains under immense bearish pressure. However, the seventh-largest cryptocurrency appears to be trading along a bullish channel, thereby lending ample support against raging bears.

ETHUSD – Hourly Chart

That said, XRP could attempt to close up the gap towards the 50-day SMA at $1.5280 over the coming hours. A further additional decline from the 50 SMA should get adequate support and boost from the $1.4500 support.

Meanwhile, our resistance levels are $1.5000, $1.5500, and $1.6000, and our support levels are $1.4000, $1.3500, and $1.3000.

Total Market Capitalization: $1.86 trillion

Ripple Market Capitalization: $50.6 billion

Ripple Dominance: 2.7%

Market Rank: #7

 

You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News