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<p>The post <a href="https://coinpedia.org/news/ripple-expands-to-africa-xrp-soars-to-0-52-after-major-announcement-what-next/" rel="noopener noreferrer nofollow">Ripple Expands to Africa: XRP Soars to $0.52 After Major Announcement, What Next?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Ripple has announced plans to introduce XRP Ledger and crypto-native services, including custody, in Africa. This expansion aligns with Ripple’s vision to leverage blockchain technology for cross-border payments and beyond.&nbsp;</p>
<p>The announcement comes as XRP experiences a surge in value, rising from $0.48 to $0.52, <a href="https://markets.coinpedia.org/xrp/" rel="noopener noreferrer nofollow">reflecting a 4.2% increase</a>.</p>
<h2 class="wp-block-heading" id="h-ripple-s-expansion-into-africa">Ripple’s Expansion into Africa</h2>
<p>Ripple, a leading firm in cross-border payment remittances, is set to expand its services into Africa, partnering with MFS Africa, a leading payments firm operating in 35 countries across the continent.&nbsp;</p>
<p>MFS Africa will leverage <a href="https://coinpedia.org/news/ripple-lawyer-clarifies-odl-sales-not-investment-contracts-defends-against-sec/" rel="noopener noreferrer nofollow">Ripple’s On-Demand Liquidity</a> (ODL) product, which utilizes XRP to facilitate seamless cross-border transactions, including remittances. This partnership aims to enhance the efficiency and speed of payment processes in the region.</p>
<p>Meanwhile, Reece Merrick, Ripple’s Managing Director for the Middle East and Africa highlighted the firm’s ambition to venture into “crypto-native services” like custody, building on their established reputation in the payments sector. This move marks a significant step in Ripple’s efforts to establish a stronger presence in emerging markets.</p>
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   <p lang="en" dir="ltr">Reece Merrick, Managing Director Middle East, Africa for <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Ripple</a>, says they are best known for payments but stepping into " crypto native services" (custody) and supporting the <a href="https://twitter.com/hashtag/XRPL?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRPL</a> program in the region. <br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/MzySaYOw5A" rel="noopener noreferrer nofollow">https://t.co/MzySaYOw5A</a> <br>"Looking to expand quite heavily here" <a href="https://t.co/RfVE7xUjpH" rel="noopener noreferrer nofollow">pic.twitter.com/RfVE7xUjpH</a></p>— <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f338.png" alt="🌸" class="wp-smiley" style="height: 1em; max-height: 1em;">Crypto Eri <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1fa9d.png" alt="🪝" class="wp-smiley" style="height: 1em; max-height: 1em;">Carpe Diem (@sentosumosaba) <a href="https://twitter.com/sentosumosaba/status/1791331629220438046?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 17, 2024</a>
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<h2 class="wp-block-heading" id="h-legal-challenges-in-the-us">Legal Challenges in the US</h2>
<p>Ripple’s expansion comes at a time when the company is embroiled in a significant legal battle with the U.S. Securities and Exchange Commission (SEC). The SEC has accused Ripple of selling XRP as an unregistered security, seeking approximately $2 billion in fines for its institutional sales of XRP.&nbsp;</p>
<p>Ripple, however, disputes this figure, arguing that the appropriate penalty should be around $10 million.</p>
<h2 class="wp-block-heading" id="h-xrp-eye-of-0-60-soon">XRP Eye Of $0.60 Soon</h2>
<p>Amidst these announcements, XRP has experienced a notable increase in value. The cryptocurrency’s price surged from $0.48 to $0.52, marking a 4.2% rise. Currently, XRP is trading at $0.52, with technical indicators suggesting potential for further gains to $0.55.</p>
<p>In a bullish scenario, XRP could climb towards the $0.60 level, encountering intermediate resistance at $0.53.&nbsp;</p>

Ripple Expands to Africa: XRP Soars to $0.52 After Major Announcement, What Next?

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