Ripple (XRP) News Today: January 27

New partnerships, major announcements and more: Check out the recent and important developments related to Ripple.

The latest partnerships

Reece Merric, CEO of Ripple, Middle East and Africa, revealed that the company has collaborated 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.

“The Kingdom’s visionary leadership has made Saudi Arabia a progressive global hub for digital transformation. Together with Jeel, we will explore use cases for cross-border payments, digital asset custody and tokenization in support of the Vision 2030 agenda,” his announcement reads.

Ripple for that shook hands with DXC technology. The latter is an American multinational IT services and consultancy company with more than 125,000 employees. Through this partnership, DXC will integrate Ripple’s blockchain technology into its core Hogan banking platform, which supports $5 trillion in deposits and 300 accounts worldwide. Joanie Xie (VP and Managing Director, North America, Ripple) spoke about this:

“Banks are under increasing pressure to modernize while continuing to operate on complex infrastructure. Our partnership with DXC brings digital asset custody, RLUSD and payments directly to the core banking environments that institutions already rely on. Together we enable banks to deliver secure, compliant digital asset use cases at enterprise scale, without disruption.”

A big event next month

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

Key topics of discussion will be the increasing use of XRP in capital markets infrastructure, the longevity and stability of the community, and the macro shift in institutional and market adoption of crypto. The lecture will take place live at X-rooms.

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

How are the ETFs doing?

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

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Since Day 1, the products have generated cumulative total net inflows of approximately $1.24 billion. Canary Capital’s XRPC is worth about $346 million, followed by Bitwise’s XRP at $324 million.

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 flooded with members who believe the rating will only increase from here.

X user EGRAG CRYPTO, for example argued that XRP has formed a triple bottom pattern, which could foreshadow a major rally well above $20.

ChartNerd was also optimistic, albeit with a more modest forecast. The analyst noted that XRP has consistently defended the $1.80 zone in recent months.

“If XRP defends $1.80 as it has done over the past 13 months, a bearish resistance awaits above, and if resolved… this would signal the shift back to $2.70,” she added.