Ripple remains a very popular cryptocoin, but something has happened recently in the market which is likely to prompt a XRP rally. The cross-border payment solution of Ripple’s xRapid has just been made live on three new crypto exchanges.
For a while now, the price of Ripple has been suffering, much like the fate of many other cryptocurrencies this year. The bubble of high prices burst back at the end of 2017, but things may now be on the up for Ripple.
Since last week, the price of Ripple has been rising, now sitting at the $0.3378 mark, last week its price never went higher than the upper twenties. So why has Ripple gone through such a boost?
xRapid is a new technology from company that has since been adopted by Bittrex, Bitso and PhilippineCoins.ph and allows its users to send fiat money across the world, no matter what the destination and origin currency is. In the transaction, the origin currency would be transmuted into XRP, followed by the destination country’s currency, making it easier for both businesses and individuals to use of this powerful, global tool.
Seeing this in action on some popular exchanges has given investors confidence in the technology, and because of this, Ripple has held its recent gains. Although these capabilities have been around for a while now, there has always been that problem that those that could make use of them didn’t know how. That is until xRapid came along, and is taking the digital coin in the right direction for global success thanks to its ease of use.
At the moment, things are looking good for Ripple, but it is difficult to tell whether investors enthusiasm for this new technology will continue helping Ripple in its upwards trajectory. It should at least help to secure it slightly in an ever volatile market.