Ripple XRP Africa has now established a new footprint in South Africa, which could be the perfect catalyst for the third round of altcoin season. Ripple Labs has officially entered Africa. This news was confirmed today in Johannesburg. This new venture by Ripple is in partnership with Absa Bank one of the largest banks in South Africa.
This partnership will primarily focus on crypto custody. Absa Bank will now be able to provide its customers with a secure and modern digital asset trading experience, where everything will be compliant with regulations, using the Ripple XRP Africa Ledger system.
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RLUSD, Enter Top Ripple XRP Africa Bank
The South African Republic is one of several countries where people are now using crypto assets instead of normal money for everyday payments. When Absa Bank integrates Ripple’s custody technology into its system, it will create a strong and secure storage that can easily grow according to market demand all within legal regulations.
Ripple already has more than 60 licenses and approvals in different countries. Ripple offers custody services not only for the XRP coin, but also for the RLUSD stablecoin. Ripple’s new RLUSD stablecoin has already become popular in the big crypto markets of America and Asia, so it seems quite easy for it to grow in Africa as well.
Is Altcoin Still Horizon?
Bears took another big bite out of the crypto market on Wednesday, sending Bitcoin plummeting back to $110,000. Major altcoins like Ripple have recovered slightly after last Friday’s crash, but XRP is still trading at $2.44 below the crucial $2.50 level. Nevertheless, market experts expect altcoin season to return.
According to Rect Fencer, the third round of altcoin season was supposed to begin today, but if these major sell-offs in Bitcoin and Ethereum ETFs continue, the season could be delayed for some time. On October 13th, Ethereum ETFs saw a significant outflow of $428.5 million, while Bitcoin ETFs also saw a loss of $326 million.
Altcoins movement against Bitcoin appears to be similar to the 2018 and 2021 bull rallies, but this ETF data has come as a bit of a cold shower for the market. Furthermore, XRP’s ETF approval is also being delayed. Currently, Ripple XRP Africa is attempting to cross the next resistance level of $2.50, with daily trading volume exceeding $5 billion.
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People Also Ask – Ripple XRP Africa:
What is Ripple doing in Africa with the XRP Ledger?
Ripple is now working with MFS Africa and Absa Bank to bring fast and cheap cross-border payments to Africa through the XRP Ledger
Why could this start an altseason?
This could increase demand for XRP, and if Bitcoin remains at $110,000, altcoins like XRP could also grow as its market cap reaches $4.37 trillion by the end of 2025.
Will this increase the price of XRP?
It could! If Africa starts using this system on a large scale, experts say XRP could rise to $2.50 to $3.10 especially during altcoin season.
Should I buy XRP now?
Start small, keep watching news and XRP Ledger Africa adoption updates on vibeofcrypto, and understand the market don’t jump in without thinking
What should I pay attention to?
Keep an eye on the XRP Ledger’s growth, Africa regulations, and updates on X (Twitter) if the wave starts, ride it smartly.
