Ripple Moves Higher on New Credit Facility, XMR, REN, ZEC, Oct. 12 – Bitrates

October 12, 2020 By admin

Ripple launches “line of credit” offering. XMR and ZEC boosted by DOJ report. REN rallies with Chainlink tie-up for chain improvements.

XRP

Ripple’s XRP has found support at the $0.2200 level and is now looking to move back towards the recent highs near $0.3300. 

xrp coin
XRP Price Index

The move higher in XRP comes as RippleLabs announced the release of a loan facility, five months after it announced the plan. “Line of Credit” is currently in beta version and would provide approved customers with working capital loans in XRP for cross-border payments. The project said, “Those using ODL on RippleNet can purchase XRP from Ripple on credit”.

The product is aimed at small and medium-sized enterprises that lack the financial power of larger players to gain access to working capital. The product comes with a fee, which Ripple states will be lower than the standard credit options.

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XMR

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