XRP News Today: Market Focus Turns to ETFs and SWIFT Rivalry; BTC Dips on Fed Sentiment

• The program will enable pharmacies to pay for products and move funds instantly and cost-effectively, without needing to rely on traditional banking and credit card networks.
• Gives independent pharmacies access to blockchain-based payments.
• Calls it an XRP-based payment solution at scale.
• The company services 6500 independent pharmacies and 200 manufacturers.

For context, Wellgistics Health had previously filed an S-1 form with the SEC. The Company stated its intent to adopt XRP as a treasury reserve asset. The pharma company also expected to implement a payment solution, using the XRP Ledger (XRPL) to facilitate secure, low-cost, and real-time payments between the Company, its pharmacy customers, their manufacturers, and vendor partners.

Wellgistics Health’s announcement underscored real utility and use for XRP and XRPL, potentially crucial for XRP’s price outlook.

Institutions adding XRP to their balance sheet have drawn the attention of investors, likely triggered by the agreement to end the Ripple case. Last week, Bill Morgan commented on increased institutional demand, stating:

“That is four companies I have identified in less than a week just from their SEC filings on top of many others disclosed over the last few months holding XRP.”

The companies include Quantum Biopharma Ltd., Worksport Ltd., Hyperscale Data Inc., and Flora Growth Corp.

XRP Price Outlook: Banking License, Treasury Reserve Asset, and Spot ETFs in Focus

XRP slipped 0.07% on Friday, August 15, after the previous session’s 5.78% slide, closing at $3.0809. The token outperformed the broader market, which fell 0.96% to a total crypto market cap of $3.91 trillion.

In the near-term, XRP’s price outlook hinges on several key catalysts, including:

• XRP-spot ETF news.
• XRP Treasury Reserve Asset adoption
• Ripple’s progress in obtaining a US-chartered bank license.
• SWIFT-related updates.
• Legislative developments.

A breakout above the $3.2 resistance level could allow the bulls to target the August 8 high of $3.3826. A sustained move above $3.3826 may pave the way toward the July 18 all-time high of $3.6606 (Binance Exchange).

However, a drop below $3 may bring the 50-day Exponential Moving Average (EMA) into play. If breached, the August 3 low of $2.7254 would likely come into play.