XRP Targets Back to $0.40 on Ripple Cross-Border Product News

Investor optimism towards the outcome of the SEC case against Ripple continued to support XRP price. However, the Ripple news was fundamental to the bullish session, reducing negative sentiment towards the FTX crash and the rising risk of contagion.

Optimism about the SEC v Ripple Case and network news muffled the contagion

Investor sentiment against the outcome of the SEC v Ripple case provided a much-needed boost on Thursday. Despite the lack of updates from the issue, the latest batch of Amicus Brief deposits featured XRP as a utility.

Investor optimism allowed the markets to react to the news regarding Ripple’s various payment products.

On Thursday, the Commonwealth Bank of Australia tweeted,

“Welcome. From November 2022, cross-border payments will begin the transition to ISO 20022 with all payments being made and received using ISO 20022 by November 2025. As a result, cross-border payments will be greatly simplified.”

The tweet led investors to link CommBank to XRP, indicating that the move to ISO 20022 includes Ripple, which is already ISO 20022-compliant. Israel’s Leumi Bank, Canada’s CIBC, and National Australia Bank partnered in March to use Ripple’s blockchain technology.

This week, news on Stably release The USD stablecoin on the XRP ledger was also positive.

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