Sending money through traditional digital methods can be a slow and expensive thing. In a recent announcement published by Ripple, it is possible to see how the current financial system could be interrupted. The announcement can be seen on the official Ripple Twitter account.
The current financial system does not work efficiently to send and receive international payments. Transactions take a long time and the costs are also very high. However, there is a solution in the cryptocurrency market. The announcement shows that payments can be made in a shorter time if funds are sent by air.
Ripple is one of the most precious companies in the cryptocurrency market. It offers various products and services for financial institutions interested in improving their services. Users wishing to send money abroad can do so in just a few steps using XRP.
With XRP Text you can send XRP to personal portfolios and any mobile number. This service works even if the recipient has never used that platform. Users who want to use it do not have to register. Furthermore, they must not provide any important information. The XRP Text platform is currently in a public beta that attempts to solve problems that may arise in the future.
Those interested in knowing how this technology works can see the presentation here:
XRP Flash text massage system pic.twitter.com/z2aLqb44XQ
– XRP VETERAN ✖️ (@XRP_VETERAN) 29 October 2018
The new XRP text was released by the famous XRP WietseWind developers. Since it was created a few weeks ago, the developer says there could be flaws and other bugs.
David Schwartz, Chief Cryptographer at XRP, said that XRP will have to increase its price if it wants to handle larger transactions. On this subject, he commented:
"When bitcoins were being sold for $ 1, you could not really use them to buy or sell a house, you can now." "Larger transactions require more value." The higher the price of XRP, the more ripples the payments will be. "
"The higher the price of XRP, the greater the payment ripple that can be addressed …"@JoelKatz #XRP #Ripple #XRPcommunity #XRPthestandard #crypto #micropayments #payments #blockchain #fintech #crypto #altcoins #finance #banking
* Infographics: Ripple and XRP * https: //t.co/ICQxJNIr8e pic.twitter.com/m9cLOtHo4U
– XRP_Cro (@stedas) 29 October 2018
Ripple will continue to grow. If the market is able to recover, we could see a new race in XRP. The third largest cryptocurrency by market capitalization is currently trading around $ 0.44 and has a market capitalization of $ 17.8 billion.
Carlos is an international relations analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other major cryptocurrency sites; with over 2,000 published articles.