In a market characterized by forceful bullish momentum, where several cryptocurrencies reached novel all-time highs and prices rebounded, the price of XRP remained at consolidation phase for the past two months after a brief rally in March that reached a yearly high of $0.7430.

However, recent positive developments and announcements around Ripple, the blockchain-based payments company tied to XRP, coupled with an intriguing bullish pattern, have sparked speculation about potential massive growth rising trend for the price of XRP.

Ripple is growing thanks to the prominent Junction partnership

Most recently, Ripple revealed partnership with Clear Junction, a global provider of cross-border payment solutions for regulated institutions.

According to the announcement, the novel partnership aims to enable Clear Junction to provide “instant and secure” GBP and EUR withdrawal support to Ripple payment customers. Moreover, Ripple plans to introduce support for additional currencies later this year, further expanding its network of offerings.

Cassie Craddock, Managing Director Europe at Ripple, expressed her delight at the partnership, stating the following:

Clear Junction is a perfect fit for Ripple. From the outset, it was able to support all our operate cases, including providing GBP and EUR payout coverage to our customers sending payments to the UK and European Union.

Clear Junction, an FCA authorized e-money institution in the UK, offers operational support and reporting to ensure a sheltered and secure environment for partners.

The aim is ensuring the safety and security of funds through necessary payment industry and data security safeguards. The company has obtained ISO 27001 certification, the highest global data security standard.

Dima Kats, founder and CEO of Clear Junction, emphasized the importance of the partnership, stating that blockchain technology and cryptocurrencies will be at the core of the evolution of correspondent banking. Kats further states:

We are elated to partner with Ripple and be part of this process. This collaboration is an example of two institutions coming together to improve their products and services. We look forward to working closely with the Ripple team and exploring more opportunities for future growth.

XRP price up to $300?

Currently trading at $0.5269, XRP is in a long-term consolidation phase between the $0.4780 and $0.5441 price range.

Despite the lack of significant catalysts In order to push the token to previous highs, the possibility of retesting its historical high of $3.40 in January 2018 is on the horizon.

Cryptocurrency analyst known as “Jack The Rippler”. identified a bullish triangle pattern appearing on the daily XRP price chart as seen in the image below.

If the pattern completely breaks above the $0.600 level and the predicted bullish uptrend materializes as the analyst indicates, the projected 63,000% augment will cause the XRP price to skyrocket to around $331.

Nevertheless, the implementation of this scenario remains uncertain and the time frame needed for XRP to break the upper limit resistance levels has not been determined yet. The upper resistance levels are currently at $0.5414 and $0.5574 in the near future.

Featured image from DALL-E, chart from TradingView.com