Ripple To Launch Payment Service, XRP Price Surges By 74% Since Announcement

Ripple To Launch Payment Service, XRP Price Surges By 74% Since Announcement

Ripple To Launch Payment Service, XRP Price Surges By 74% Since Announcement

There are a good number of reasons why XRP is struggling with its value. "We are focused on providing our clients with capabilities that enable making secure digital payments in an instant, whether they are sent across the street or across the world". Only Bitcoin and Ethereum were considered. Ripple has so far avoided being labeled a security Several ongoing lawsuits allege that Ripple is a security. Certainly not as radical as other crypto enthusiasts, the Ripple team doesn't want to overtake and destroy fiat currency, but rather improve on the system that we already have. BTC has gained roughly 4% in the last 24 hours. Though Ether has been recovering gradually in the last few days at solid 2.6% a day, Ripple skyrocketed by 15.3%.

Ripple Labs Inc. could launch a service that will use its native currency "in the next month or so", one of its executives told CNBC on Monday.

The xRapid has been catered mostly to banks.

"PNC Bank will not be using XRP or xRapid to carry out payments for now".

The software allows banks to communicate instantly, and to even confirm payment before and after a transaction has been initiated. How exactly does it work?

The EOS (EOS) price has jumped 12% to US$6.05, increasing the EOS market capitalisation to US$5.5 billion.

It is also important to take into account the FOMO. Granted, we're nowhere near all-time highs for the cryptocurrency that we saw in late 2017/early 2018 (above $3.00), but given the current market conditions in the crypto world, XRP has been doing phenomenally well. Previously, Ripple had already added one of the largest banks in the Middle East. Among which is Santander and American Express. But because XRP claims to facilitate low-cost liquidity, conversion costs are also lower for xRapid transactions. However, Ripple then answered that the sample was quite small to see a difference.

At the moment, xRapid did not sign any partnership with other companies, but in the future, institutions using RippleNet could start using the new services. These partners have been using xCurrent.

Currently, there is no obvious cause for the Ripple price rally, other than the San Francisco-based Blockchain technology startup recent proclamation that Ripple-based commercial Blockchain tech applications will go live "in the coming month or beyond". Ripple's XRP token value moved up more than twenty percent on the news, although it has since retreated slightly.

Regulations in the United Kingdom still remain in limbo, although the lawmakers in the country recently called out to the government to regulate the crypto market "wild west". Sarbhai maintains that attitudes in the industry have changed and the banking community are more open to a solution involving crypto than a few years earlier when xCurrent was launched. Volatility and regulatory uncertainty were among the top ones.

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