Ripple News Today – XRP-based App XUMM Has One of the Best Use Cases for the XRP Ledger – August 9th, 2020

XRP
  • Xpring Representative Says Xumm has one of the Best Use Cases for the XRP Ledger
  • Xpring Releases Three New Products on the XRP Ledger 
  • PayID Hackathon Completed Successfully 

Ripple News Today – Xumm is an XRP-based payment services app that is faster than regular banks and cheaper as well. It is one of the many platforms based on the XRP token but it is one of the best. According to Warren Paul Anderson, Xumm was created to allow people to trade in different currencies including dollars, euros, and the XRP token without depending on banks. It also simplifies peer to peer payments and trading. Anderson believes that Xumm is the most promising of all the current XRP-based payment apps. Xpring has signed a three-year contract that will give it the funds required to support Xumm and XRPL Labs.

Ripple News Today – Xumm is One of the Best Representations of the XRP Ledger

Ever since Xpring was created to serve as an investment arm for XRPL-based applications, they’ve made a lot of progress and invested in many amazing products. Xumm has also made a lot of progress over the last few months. Even if the app has a few bugs months after it was launched, more than 3,700 users registered on the launch day. The bugs have been fixed since then and the app will soon be primed for mass deployment. Earlier in the month, Xpring injected a significant amount of cash into the Xumm project.

In other news, the PayID Hackathon which took place a while ago has been completed successfully and prizes have been given out. Two days ago, Anderson said that the six-week hackathon attracted more than 360 developers and the prize money would be as high as $25,000. More than 40 products were created during the time and these products exceed expectations according to Anderson. The top ten developers presented their jobs to Ethan Beard, David Schwartz, and many other leaders in the industry.

One of the best products was Brisk ID, an app that allows people to set up PayID accounts through their mobile phones. This way, the technology will be accessible to everyone who has an internet-enabled mobile device. Another product, Ripay, allows people to send contacts from other apps like Telegram, Discord, and Slack via PayID with just one message. Usend allows people to link their bank accounts to PayID. All these products did well according to the judges and they show a lot of promise.

Meanwhile, the XRP token has declined below the $0.3000 level and will most likely test the support at $0.2700 before the price starts recovering against the USD and Bitcoin. Analysts believe that the token will surge by more than 40% if the bulls come back to the market.

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