Ripple to Launch Enterprise-Focused Service as XRP Retakes 10-Week Top

Updated:

Ripple (XRP) has taken a step further into creating more innovative crypto products as the company prepares to launch a new product to provide institutional customers with digital assets services. According to Ripple CEO Brad Garlinghouse, the new enterprise-focused service, dubbed Liquidity Hub, would launch next year.

Once the product goes live, institutions will have the option of sourcing all tokenized assets from Ripple through the Liquidity Hub. The new product allows enterprises to access cryptocurrencies through numerous platforms, including market makers, crypto exchanges, over-the-counter (OTC) desks, and several others.

At press time, the development team is running finishing tests on the Liquidity Hub, according to the report. Immediately after its launch, Liquidity Hub will offer support for top crypto assets, like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), and XRP.

Commenting on the development, RippleNet General Manager Asheesh Birla asserted that his team has successfully used crypto sourcing technology to support the company’s On-Demand Liquidity (ODL) services on several occasions in the past. Birla added that:

“Our customers would want access to the same trusted one-stop-shop for buying, selling, and holding crypto assets that have powered our own extensive work with financial institutions.”

Interestingly, the blockchains company has also indicated (long-term) plans to introduce more features to support crypto staking and yield generation.

Key Ripple Levels to Watch — November 10

Following a two-day consolidation below the critical $1.2700 level, XRP has finally reclaimed the $1.3000 area for the first time in ten weeks. The seventh-largest cryptocurrency touched the $1.3250 top a few minutes ago, indicating an immense bullish presence.

XRPUSD – 4-Hour Chart

That said, bulls need to plant a candle close above the $1.3000 psychological mark to sustain this recovery and aim for the $1.3800 top. Failure to do so could push the price back towards the $1.2700 zone.

Meanwhile, my resistance levels are $1.3500, $1.3800, and 1.4000, and my support levels are $1.3000, $1.2700, and $1.2500.

Total Market Capitalization: $2.94 trillion

Ripple Market Capitalization: $62.7 billion

Ripple Dominance: 2.13%

Market Rank: #7

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.