Ripple (XRP) is up nearly 50% in 24 hours with exciting new functionality

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Ripple (XRP), a cryptocurrency & nbsp; developed by & nbsp; Ripple Labs, has increased by almost 50% in the last 24 hours as investors stack in the digital token after a Ripple Labs executive made fun of a new exciting feature.

Sagar Sarbhai, head of regulatory relations for the Asia-Pacific and the Middle East, at the start This week he said CNBC that Ripple Labs & nbsp; is close to launching a new product that could help banks accelerate transactions using XRP.

"I am very confident that in the next month or Soon you will see some good news in arrival where we will launch the live product in production, "said Sarbhai.

xRapid & nbsp; It is designed to function as a bridge between different currencies around the world, allowing payment service providers and banks to process faster cross-border transactions. At the start of this year, Ripple Lab's managing director, Brad Garlinghouse, boasted that "dozens" of banks used xRapid by the end of 2019.

The CNBC interview with Sarbhai, a spokeswoman for Ripple said that at the moment there is no official release history of xRapid.

XRP is down 80% from its peak while most cryptocurrencies are re-adjusted after the huge bull last year. The price of ripple rose to over $ 3 last year, up from just $ 0.006 at the beginning of the year. It is now trading at just over $ 0.40, giving it a market capitalization of $ 11.2 billion, making it the third most valuable digital asset.

Ripple, which was created in 2012 (making it one of the oldest cryptocurrencies), stands out from many other major digital tokens working directly with the established financial services industry.

Ripple & # 39; s xCurrent & nbsp; banks to settle international transactions using blockchain to confirm transactions in real time at each stage of a cross-border payment.

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Ripple (XRP), a cryptocurrency developed by Ripple Labs, has grown by almost 50% in the last 24 hours as investors pile in the digital token The Ripple Labs executive made fun of an exciting new feature.

Sagar Sarbhai, Head of Regulatory Relations for the Asia-Pacific and the Middle East, he told CNBC that Ripple Labs is close to launching a new product that could help banks speed up transactions with XRP.

"I am very confident on the fact that in the next month or so you will see some good news coming up where we will launch the product live in production, "said Sarbhai.

xRapid is designed to function as a bridge between different currencies all over the world, by paying payment service providers and banks to process faster cross-border transactions. At the start of the year, Ripple Lab's managing director, Brad Garlinghouse, boasted that there would be "dozens" of banks with xRapid by the end of 2019.

Following Interview with CNBC in Sarbhai a spokeswoman for Ripple said that at the moment there is no official chronology for xRapid.

The XRP is down 80% from its peak as most of the major cryptocurrencies are readjusted after the last bull rush last year. The price of ripple rose to more than $ 3 last year, compared to only $ 0.006 at the beginning of the year. It is now trading at just over $ 0.40, giving it a market capitalization of $ 11.2 billion, making it the third most valuable digital asset.

Ripple, which was created in 2012 (making it one of the oldest cryptocurrencies), stands out from many other major digital tokens by working directly with the financial services industry.

Ripple & # 39; s xCurrent helps banks regulate international transactions using blockchain to confirm transactions in real time at each stage of a cross-border payment.