- Ripple’s ODL Solution is Changing the Game by Eliminating Pre-funding During Remittance
- XRP Bag Holders Get Slammed by Cryptocurrency Veteran Peter Brandt
Ripple News Today – Everyone who has been paying attention knows that Ripple has gotten the attention of several financial institutions across the globe by promising them on-demand liquidity during remittance. With Ripple’s ODL services, these institutions will no longer need pre-funding when they want to make transfers. In their latest official blog post, Ripple talked about how digitalization is now global phenomena and e-transactions have surged by more than 40% in recent times. This digitization has opened a door of limitless possibilities for Ripple and payment service providers that choose to get involved.
Ripple News Today – Ripple is Taking the Lead in Global Digitization
As e-transactions increase across the globe, some countries are moving at a faster pace than others. For example, Italy has experienced an 80% surge in digital payments. Most of these transactions are made by workers that send money to their loved ones in their home country. Asheesh Birla said that Ripple’s ODL services must be adopted to speed up global digitization. It is one of the few technologies that has what it takes to change the game and meet up with market demand.
XRP (XRP) Price Today – XRP / USD
Among other things, Birla said that the biggest benefit of this ODL service is that it eliminates the need for pre-funding. XRP can be sent from one country to another instantly and at an affordable rate. It doesn’t need to pass through several payment corridors or any central intermediary. The cost of sending money through Ripple’s protocol is not just lower for the financial institutions, it is also lower for the senders and receivers. The need for sending money across borders without pre-funding has also increased during the Covid-19 pandemic due to an increase in risk and volatility.
Ripple Latest News – XRP Bag Holders Get Slammed by Cryptocurrency Veteran Peter Brandt
In other news, the famous cryptocurrency analyst and investor Peter Brandt recently slammed XRP Bag holders. On Thursday, the Veteran trader compared Ripple to the Fed. He said that Ripple is going to end up doubling the supply of XRP and he doesn’t understand why people keep investing in the token when it is controlled by a centralized institution just as the USD is controlled by the Federal Reserve. As expected, the XRP army was quick to defend Ripple but we can’t ignore the truth in his statement.
Ripple controls more than 60% of the total XRP in circulation. While the company has claimed that they don’t control the price of the token, they still share blame in the price drop because of their consistent dumping schemes. This is why the token has remained in a declining channel for more than three consecutive years. Even at the time of writing, the price of the token was $0.207043. It was down by over 95% from its all-time high of $3.50.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.