XRP (XRP) – Despite being involved in a long bear-year cycle, with the trend extending in deeply negative territory in recent weeks, XRP recorded a double-digit price increase in the day reversing the downward trend otherwise in evaluation.
While most of the cryptomercians struggle to keep the assessments lived even before the summer, in particular the altcoins have beaten throughout the month of September. Bitcoin managed to find some stability trading around $ 6500, but the rest of the market with Ethereum and XRP as two major coins in terms of market capitalization, was not as well fake. On Tuesday, XRP, the third largest cryptocurrency with a capitalization of $ 12.5 billion, posted double digit earnings, reaching an 18% increase at one point to bring the token price above $ 0.30. While the currency was on the losing end of a bearish recession, with the price of XRP continuing to decline against the dollar, today it has signaled a sharp reversal of the downward trend in prices.
From the start of the week, XRP had a 21 percent gain, despite the price of the currency declined by 10 percent from the beginning of the month. However, XRP investors found a little comfort in the price of the asset during the day, with a positive development led by Ripple, the mother behind the cryptocurrency that has since distanced itself in an attempt to promote decentralization. In a report by the CNBC published for the first time on Monday, Ripple announced the possibility of XRapid solutions as early as next month, giving XRP a potential boost both for development interest and for l & # 39; adoption.
Ripple, through the use of XRP, has been at the forefront of driving global cryptocurrency payments and remittances. With XRapid, the company offers a real-time settlement platform to make international payments an uninterrupted experience, as well as reducing the liquidity burden needed to cover fast payments. Ripple argues that their XRpaid program will not only speed up the process of sending money worldwide, through the greater security of cryptocurrency, but will also reduce transaction costs and the required liquidity load. Speaking with CNBC, the head of regulatory relations for the Asia-Pacific and the Middle East at Ripple Sagar Sarbhai made fun of the possibility of the platform, or of a related development, arriving in October,
"I am very confident that in about a month or so you will see some good news coming where we launch the product live in production."
An XRapid pilot program that occurred in the first quarter of this year testing a payment corridor between the United States and Meixco reported that 40-70 percent generated transaction savings, a significant increase for banks and other fintech companies seeking to increase their cost effectiveness. In addition, participants report substantial improvements in transaction speed, falling from typical 2-3 days of processing to just over two minutes, providing additional efficiency for the technology and benefits of cryptocurrency in the global payment space.