Ripple Makes Major Partnerships With IBM & Turkish Bank: Will XRP Hit $3.00?

On Oct 25, 2024

Ripple partnerships took a major step forward today. The company signed deals with Garanti BBVA Kripto, Turkey’s second-largest private bank, and IBM. XRP currently trades at $0.527. The international expansion deal sparked price movement talks toward $3.00.

New Customer Alert 📣 @garantibbvakrp is leveraging Ripple Custody and @IBM to bring the highest security and performance to its growing crypto trading platform.🇹🇷
Learn how secure custody is key to unlocking value in the digital economy: https://t.co/5g1Qt0HKuB
— Ripple (@Ripple) October 23, 2024

Markets reacted fast to the Ripple partnerships, with trading volumes jumping on major exchanges. Early signs suggest strong institutional support for these new partnerships.

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Exploring Ripple’s Global Expansion and Its Impact on XRP’s Future

Strategic Impact on XRP Price

This partnership sets a new standard in security and performance for crypto trading in Turkey.
— Crypto Professor X (@CryptProfessorX) October 23, 2024

The Turkish bank deal brings together Ripple Custody and IBM’s LinuxONE platform. It serves over 14,000 users. Charts show a bullish pattern forming. The first big hurdle sits at $1.20. Recent deals could push XRP past resistance points, thanks to these Ripple partnerships.

Analysts see $3.00 as possible by early 2025. Past data shows bank partnerships often drove prices higher. Market watchers point to growing institutional adoption as a key factor in the success of Ripple partnerships.

Market Indicators

Trading volume jumped 22% to $1.07 billion after the partnership news. Traders watch key price points at $0.54014 and $0.51946. These levels show buying activity associated with Ripple partnerships. The XRP Ledger saw 66% more liquidity pools this week. Big investors seem interested. The MACD chart points to possible price gains ahead. Daily trading patterns suggest accumulation at current levels.

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Price Catalysts

IBM’s security system attracts big investors, which typically pushes prices up. Similar deals in 2021 drove XRP above $1.80. Today’s market looks even stronger. Charts suggest XRP could break $1.50 soon, setting up a run toward $3.00. Turkey’s growing crypto market adds extra buying pressure. The partnership strengthens XRP’s position in emerging markets.

These Ripple partnerships set XRP up for growth. More people use it in big markets like Turkey, where prices must be clear at $1.20 and $1.50 before reaching $3.00. Success depends on keeping bank partnerships and growing in new markets. Three factors support the $3.00 target: technical signs, big investor interest, and expansion into new countries. Recent market data backs this positive outlook for XRP’s price trajectory.

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