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Since its launch, xRapid, Ripple's payment solution has already entered fintech and organizations around the world. Ripple, especially his xRapid has been hailed as one of the blockchain projects with the most real use in the world.
Regardless of his past success stories, Ripple CEO Brad Garlinghouse announced that the payment solution could be incorporated by major banks before the year ended. While no bank has yet to announce the use of xRapid, Garlinghouse's announcement at the start of this year remains hopeful.
While banks have avoided the xRapid payment solution, large companies have not. Viamericas, Cuallix, IDT and MercuryFX are some fintech who have confirmed the use of xRapid. The number of fintechs turning to Ripple has increased over the months, but Garlinghouse believes banks will start to follow suit.
What would happen if xRapid was adopted by the banks?
If xRapid is adopted by the banks, it would change the Ripple course. The xRapid solution is designed to work with XRP. Integrating into the banking sector would mean a huge increase in the liquidity of the XRP tokens. The effects would flow into the encrypted market.
The adoption of xRapid would mean that XRP would function as a liquidity tool. This would increase the number of investors and enthusiasts who use and manage XRP. Finally, the bull run that the Ripple community was waiting for could then start, only then will the $ 589 project become a reality and most likely not this year.
Ripple continues to expand its base in the Asian market
While struggling to dominate, Ripple continues to focus on expanding its services and penetrating new markets. After having established itself in America and in Europe, Asia seems to be the next market of interest for the blockchain project. Asia has proven to be a very influential market for cryptocurrencies.
Asia is a complex market for many companies, even more so if they provide services like those of Ripple that are still viewed with some skepticism by regulators. China, for example, has demonstrated an anti-cryptography policy despite being one of the main OTC Bitcoin trading markets.
Ripple has already left a market in the Asian market. Ripple Inc. has already partnered with LianLian Group and American Express, this company will allow credit card processing to be processed in a proprietary network. According to Dan Morgan, the appetite for Ripple has grown in Asian markets, which could be the blockchain project for an important place in these markets.
Ripple market performance (XRP)
Ripple's performance on the market over the past two days has been more than a mixed deal. After consolidation near the support level of $ 0.4000, the altcoin started to decline. In the last 24 hours, XRP has decreased by 1.7 percent against the dollar. Ripple, the second most valuable digital asset is currently trading at $ 0.361583.
The hourly chart of XRP (Kraken data) suggests that altcoin could break below the support level of $ 0.3610 if it does not receive a boost soon. If this happens, we could see Ripple falling towards the $ 0.3300 support level in the coming days.
