After a pause of several months of sleep for XRP, the currency finally rose by about 7% last week. Although technically the coin was in limited territory for a while, the XRP team and Ripple basically did their best to add any catalyst that could contribute to the next XRP race. A recent update post published by the XRP community summarizes the prowess that the Ripple team has achieved in the past.
Global coverage and the adoption of XRP expand at a good speed
XRP has found its fairly good adoption between financial payments and industry as a currency represents a bridge perfect between the traditional world of centralized finance and the decentralized organizations of the new age fintech. The company, Ripple has been able to provide the right products that fit the traditional financial system, offering them the advantages of blockchain such as speed and affordability. These products include the number of highly used applications on the network, including social media applications, peer-to-peer payment applications, and, most recently, the flexible implementation of Coil's web monetization. Ripple's XRapid has also been shown to be a good find and has already been envisaged as the next generation of cross-border value transfers between banks, remittance companies, large corporations and individuals.
This high rate of adoption, global reach and a plethora of offers has made XRP one of the favorite currencies for investors and traders. In addition to Coinbase, almost all global exchanges have listed and exchange XRPs. According to the blog writer, XRP's liquidity endpoints have grown by 300% over a year – now 105 exchanges trade XRP against only 29 a year ago.
Also read: Lightweight correction by XRP Price, but 3 events speak of a resounding success
Ripple & # 39; s xCurrent takes advantage of Blockchain for SMEs
A couple of days ago Ripple introduced the product xCurrent for the SME sector through a video showing how the use of xCurrent facilitates the sore spots The SME sector has been tackled for over 30 years. The video describes how the Accounts Receivable (A / P) department of small and medium-sized enterprises (SMEs) currently absorbs much of their time and significant costs to pay suppliers and sellers in other countries. The problems currently faced by the small organization that includes No data attached (you can not attach invoices to a payment), Low transparency (unknown payment costs) and no traceability (unknown arrival time for payment) are also discussed. The video then proceeds to show how RippleNet membership solves these problems for companies and provides the ability to solve each of these problems through the implementation of xCurrent as it provides benefits like Rich Data Attached (invoice attached to easy reconciliation), End-to-end Transparency (total cost known in advance) and complete certainty (real-time regulation)
The xCurrent product appears to be a powerful value proposition for SMEs and clearly shows Ripple's vision for cover the full range of payment industry from a large organization and banks to small and medium-sized businesses streamlining their internal operations and reducing payment processing costs at a fraction of their current level.
The speed and depth of expansion and adoption of XRP are far superior to those of any other digital resource, and Ripple is the only one that is now entering real business applications that solve some of the most rooted business problems for the last few decades. It's just a wait and a moment for now, when the currency starts its next rally, something does not seem to fade. If the adoption of Ripple and XRP continues at this rate (and of course if it is not defined as security) we might even see XRP pass in front of Ethereum to become the second largest cryptocurrency .
Does XRP have enough potential to skip ahead Ehtereum to become the second largest cryptocurrency? Tell us your opinions about the same