Notabene, the operator of the world’s largest open network for regulated on-chain transactions, has just received a fresh investment from Ripple Labs, the San Francisco-based tech behemoth. Even though the magnitude of the partnership wasn’t disclosed in the official press release, the operator serves over 2,300 institutions in 100 jurisdictions.
Sponsored
Moreover, Notabene’s annualized transaction volume is roughly $2 trillion – a figure that resembles the global crypto market cap. By entering this deal, Ripple also lets Notabene to use the RLUSD stablecoin in Notabene Flow is Notabene’s B2B stablecoin payments platform. They will also explore options to complement Ripple Payments.
Ripple Flips Multiple Trillions: Will XRP Benefit?
Interestingly, the Ripple Labs x Notabene deal was announced right after the launch of Ripple Mint, an RLUSD-centered institutional custody management platform set to match the most needy investor’s standards. Last year, Ripple Payments processed nearly $16 trillion thanks to the acquisition of GTreasury, but none of it was in crypto.
This year could be different – Ripple’s positive legal headwinds take XRP out of the grey area and back into institutional hands, as seen with the 7 launched standalone XRP-based ETFs. Then, the RLUSD stablecoin garnered Wall Street attention, striking up a $2 billion market capitalization, making a name for itself in the cross-border payment field.
XRP’s Big Test Before a Potential $6 Breakout
As for XRP, the multi-billion dollar transactions every day prove Ripple’s native coin to be a key player in the cross-border market too, but the volatility is obviously higher than RLUSD’s. XRP is still showcasing a high price correlation with Bitcoin (BTC) & Ethereum (ETH). Some seasoned analysts believe that a $6 price tag for XRP is plausible if BTC restores $120K.
With the apex digital asset currently hovering around $64,000, XRP’s $1.06 market value hints at crypto bears still having a grip on the market. Analysts are watching for XRP to withstand a test by short-sellers trying to push the altcoin sub-$1, while long-term holders are marking attractive entry points around the $0.90 liquidity pocket.
Delve into DailyCoin’s popular crypto news today:
Chip Shock Rocks Asia: KOSPI Plunges, Bitcoin Under Pressure
HBAR Sponsored McLaren Driver Takes Hungarian GP Victory