Ripple: demand increases on the network

Ripple: demand increases on the network

By NassiroV | CryptoPress360 | 12 Jun 2020


What is Ripple?

Image Source

Ripple is a company specializing in cross-border exchanges presenting itself as a competitor of the SWIFT network. Its payment network has seen an increase in activity in recent months, with the addition of around fifty partners.

350 global partners for Ripple

In an interview in late May, South Asia branch chief executive Navin Gupta said the Ripple payment network was gaining traction.

In fact, the Ripple company has established 50 new partnerships since November 2019. These new signatures allow Ripple to reach the 350 partners spread across the globe.

"We are one of the largest blockchain companies in the world, which is in production. We have around 350 financial institutions that use our technology every day, ”he said.

In February, Ripple was the only crypto company to appear, alongside the giants PayPal and Stripe, in the top 100 achieved by FXC Intelligence, which compiles companies facilitating cross-border payments.

top_100_crossborder.png?lossy=1&resize=696%2C392&ssl=1

Source : Decrypt

100 million XRPs exit escrow account

Unfortunately for the XRP token, the growing adoption is not yet reflected in the price.

Indeed, despite these new partnerships, the price of the Ripple has not seen any change in its price despite the recent rise in Bitcoin, and has remained at a stable value of around $ 0.2.

This situation may well continue, or worsen in the coming days, following the release of 100 million XRP tokens from the wallet escrow.

5541dc19c029073c77d3e39aa556d2e7b3b8adfb73cda40be69ac5841e735779.jpeg

Indeed, there is a good chance that these tokens will end up on public exchanges, which can potentially cause downward pressure on the price.

Ripple still remains one of the main cryptocurrencies in terms of capitalization. This did not prevent stablecoin Tether from taking third place, passing XRP, following the explosion of its use.


CEX.IO allows for the buying of bitcoin and other cryptocurrencies for low fees via credit card, Debit card. Customers can also purchase for free (no fees) with bank transfers. The best thing about Cex is that it supports fiat currencies like USD and EUR which means you can withdraw your money and deposit it directly to your bank account without the need of a third party. In conclusion, Cex allows you to trade Cryptos, deposit funds from your bank account and also withdraw your funds to your bank account, it is an All-in-one exchange.

Please register through this link to support the blog: https://cex.io/r/0/up131023719/0/

 


NassiroV
NassiroV

Hi, and welcome to my blogs :)! ​I’m Nassir, a thirty-something guy who loves to travel and write, especially about Crypto and Blockchain. I have been blogging and trading cryptocurrencies for a while. I hope that you find my articles beneficial to you.


CryptoPress360
CryptoPress360

Stay updated and connected to the world of the Crypto & Blockchain.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.