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XRP On Fire After Egyptian Bank Deal

XRP On Fire After Egyptian Bank Deal

XRP On Fire After Egyptian Bank Deal-Techcryption-01

According to CoinMarketCap, XRP is on fire as the price (at the time of writing) is at USD 0.323 with 0.49% gains while Bitcoin slips at -1.35% with USD 10,226 value. Notably, XRP continues to perform well this year despite having been among the worst 2019 in price activity.

Reportedly, Ripple signed a cooperation agreement with several high-ranking executives at the National Bank of Egypt, in a plan to utilize blockchain technology. Among those present at the signing ceremony was Mark Johnson, Vice President of sales at Ripple besides other members of the regional team.

According to data from the World Bank, Egypt is one of the largest recipients of remittances in the world, with overseas Egyptians sending back an estimated USD 29 billion in 2018. Although Ripple nor the National Bank of Egypt has made an announcement relating to the deal signed, an unnamed representative from the firm had confirmed the partnership.

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