- Ripple’s CEO Brad Garlinghouse plans to bring in more legacy institutions
- XRP Price Update and Prediction
Ripple News Today – Ripple has been in the news for a while now competing strongly with SWIFT to appear as a new-age standard in carrying out cross-border payments. Regardless of the emergent of new waves of technological development in the payment channels, SWIFT has so far persisted in maintaining its position as the standard for cross-border payments.
XRP (XRP) Price Today – XRP / USD
Name Price 24H % $0.751 -0.80%
Speaking on the recently concluded SWELL event, Ripple CEO Brad Garlinghouse commented that SWIFT is a “one-way messaging framework, you execute a SWIFT wire transaction and the only way you know I received it is when you send me a note saying ‘hey I sent you a wire.’” Commenting further on the subject, Garlinghouse stated that a minute error from the sender in effecting a traditional payment can cause a lot of “overhead and that does not need to happen in a world where people can use better technology.”
While comparing SWIFT to Ripple, Garlinghouse stated that SWIFT acts more like a postcard which takes some days to deliver and that Ripple is working effortlessly to improve the existing infrastructure. He went thus: “What we have done is take that very rudimentary conversation infrastructure that was built decades ago and said, let’s have a two-way messaging framework.”
Commenting on the company’s projects on the ground – xCurrent and On-Demand Liquidity (ODL) formerly known as xRapid, Garlinghouse explained that the company aims to bring in legacy institutions and bring them the chances that the internet-based technology has to offer in real-time.
He stated: “We wanted to bring banks, financial institutions, into the opportunities represented by these new technologies. And you know frankly, starting with the deep end, I will say that the deep end is going all the way into using digital assets to solve some of these problems as opposed to gradually working them into that.”
XRP Price Update and Prediction
Alongside the whole crypto market, XRP trading price is currently in the red zone, the third-largest cryptocurrency is down at 7.80% at $0.2098 with the market cap losing $790 million from $9.87 billion down to $9.08 billion in the last 24 hours. Although several analysts are trying to track down the major cause of this massive decline, which has seen the coin losing 19% of its value in the last week.
A prominent crypto analyst DonAlt has taken to his Twitter page to inform his followers that XRP might be retesting support as seen in October 2018. He stated: “$0.30 was quite important, let’s hope $0.19 will be as well. The price action on XRPUSD is uncannily technical.”