XRP Hits Market Capitalization of $15.45 Billion (XRP)
- Author: Zachary Reyes Sep 24, 2018,
Sep 24, 2018, 14:56
Despite the possibilities, only a few blockchains have been deployed in the payment sector and Ripple's technology has been at the heart of adoption in this industry. The software firm notes that xCurrent facilitates real-time, or instant, payments and bidirectional messaging.
Ripple has announced a new addition to its growing RippleNet payment facilitation platform. The process will require a pre-funded local currency account for this to take place. Ripple uses the ecosystem of the XRP token for cross-border settlements. Explore will allow the application's users to gain access to "contextual, relevant information on various aspects of the crypto [market]" via an easily digestible section in Circle Invest. Ripple native XRapid, a long-awaited product is soon going to launch. An executive at Ripple told CNBC this week that the start-up was making headway with its xRapid product, aimed at helping banks speed up transactions by using the cryptocurrency XRP.
By joining RippleNet, the bank will leverage Ripple's technology to enable its commercial clients to receive payments from overseas banks in real time.
$1.00 is an optimum price because it will encourage more banks to jump on board. The weight of their legacy model and cost structure may be inhibiting their ability to adapt and innovate in this regard.
The number two and three spots, Ether and Ripple respectively (at the time of writing, at least) have swapped positions twice already today with both showing exceptional strength on a day that is uncharacteristically green considering trends so far in 2018.
Ripple has developed xRapid as a protocol for cross border fiat transfers. Sagar Sarbhai, the head of regulatory relations for Asia-Pacific and the Middle East for Ripple said September 17: "I am very confident that in the next one month or so, you will see some good news coming in where we launch the product live in production".
XRP is still a far cry from its all-time high, now reflecting an 89 percent depreciation from the $3.48 price point set back in January (XPI). The strategic nature of these partnerships is clear as the remittance markets between the US and Mexico/The Philippines are some of the most notable. By being reflective of the value of the dollar, XRP will be easier to use, easier to handle, easier to manage and most importantly, easier to integrate into current mainstream financial systems.
The payment amount in XRP is settled over the XRP Ledger.
Another Ripple-oriented news wave spread all over the web, which is PNC-associated, on September 20. There is a lot of friction in their legacy process which Ripple seeks to exploit.
A range bound early part of the day eased concerns of a sell-off following double digit gains earlier in the week, leading to a 2 major rally of the week, Ripple's XRP breaking through the day's major resistance levels to an intraday high $0.50297 before easing back to $0.45 levels by the day's end.