Ripple (XRP) News Today: January 27th

The news surrounding Ripple’s ecosystem has been quite interesting lately. In the following lines, we will touch upon everything most important involving the company and its native token, XRP.

The Latest Partnerships

Reece Merric, Ripple’s Managing Director, Middle East & Africa, revealed that the firm has teamed up with Jeel – the innovation and technology arm of Riyad Bank. According to him, the main goal of the collaboration is to advance Saudi Arabia’s financial future through blockchain innovation.

Prior to that, Ripple shook hands with DXC Technology. The latter is an American multinational IT services and consulting company that has over 125,000 employees. Through this collaboration, DXC will integrate Ripple’s blockchain technology into its Hogan core banking platform, which supports $5 trillion in deposits and 300 accounts worldwide. Speaking on the matter was Joanie Xie (VP and Managing Director, North America, Ripple):

A Big Event Next Month

Earlier today (January 27), Ripple announced on X that XRP Community Day will kick off on February 11 with a “fireside chat” featuring the CEO Brad Garlinghouse and the crypto podcaster Tony Edward.

The main topics of conversation will be XRP’s growing use in capital markets infrastructure, the community’s longevity and stability, and the macro shift in institutional adoption and market acceptance of crypto. The talk will be live on X spaces.

XRP Community Day is a global online event dedicated to Ripple’s ecosystem and its community of investors, proponents, and developers.

How Are the ETFs Doing?

The first spot XRP ETF in the USA, which has a 100% exposure to the asset, saw the light of day in November last year and was launched by Canary Capital. Later on, Bitwise, Franlin Templeton, 21Shares, and Grayscale followed suit, and the interest in these investment vehicles has been quite impressive.

Since day 1, the products have generated a cumulative total net inflow of around $1.24 billion. Canary Capital’s XRPC accounts for roughly $346 million of the figure, followed by Bitwise’s XRP at $324 million.

Spot XRP ETFs, Source: SoSoValue

XRP Price Outlook

Ripple’s cross-border token has been negatively affected by the latest market correction, with its price falling below $1.90. However, the community remains rammed with members who believe the valuation is only going to pump from here on.

X user EGRAG CRYPTO, for instance, argued that XRP has formed a “triple bottom pattern,” which could be a precursor of a major rally to well above $20.

ChartNerd was also optimistic, albeit outlining a more modest forecast. The analyst noted that XRP has consistently defended the $1.80 zone for the past several months.

The post Ripple (XRP) News Today: January 27th appeared first on CryptoPotato.