Ripple Moves Higher on New Credit Facility, XMR, REN, ZEC, Oct. 12 – BitratesOctober 12, 2020
Ripple launches “line of credit” offering. XMR and ZEC boosted by DOJ report. REN rallies with Chainlink tie-up for chain improvements.
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.
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.
The price of Monero was 23% higher on the week with the release of Oxygen Orion, which is the v0.17.0.1 of the Monero GUI software. Some highlights in the release are Socks5 proxy support, improved reliability, windows cross-compilation, and improvements to the build system.
The U.S. Internal Revenue Service (IRS recently offered crypto intelligence firms Chainalysis and Integra Fec a combined $1.25 million contract to provide tools that break the privacy-focused coin Monero. This highlights the fear that tax collectors have over the decentralized