Ripple will be working with TAS to fix the issues that plague the traditional payment systems leveraging Ripple’s tech. This is according to an announcement made by TAS on its official website. Part of the announcement was as follows:
“Ripple is coming and TAS is fully prepared”.
As we already know, Ripple is a provider of Neutral Settlement for bilateral exchange on a global network. TAS is a provider of software solutions that works with many central and commercial banks within and outside Europe. The company is also a major broker of the global Fortune 500. With service centers in Europe and Italy, TAS is the biggest payment carrier in Europe and seven other countries across the globe. Worldwide, the company manages about one hundred and fifty million cards. The MD of the Germany branch of the company, Dieter Schoene had this to say:
“For a while now, we have been monitoring the blockchain market trend. We were the first Italian vendors to implement a Ripple driver into our interbank payment hub. This move in 2014, allowed banks to evaluate and pilot Ripple’s value proposition for real-time cross-border payment”.
XRP (XRP) Price Today – XRP / USD
On the website, the TAS Group wrote about how the current payment systems are inefficient. They cited some of the common problems of these systems as lack of transparency, high transaction fees, long settlement times, multiple failure points, etc.
How The Partnership With TAS Affects XRP’s Liquidity
The partnership with TAS is going to give XRP a huge liquidity boost. This is because even if the partnerships Ripple is making are not all directly about its native token, they still have a positive impact on it. The token is gaining ground in the industry signified by the liquidity boost it has been enjoying this period as Ripple partners with payment platforms, lenders and wallets to promote the XRP token.
This partnership with TAS will promote the liquidity for XRP on a global scale just like other partnerships are doing. This will bring Ripple and XRP closer to the ultimate goal of making cross-border payments seamless.
Why Is XRP Making Waves In The Industry
When it comes to the rapid progress XRP is making, most of the commendation should go to Ripple. While Ripple is independent of XRP, the company is the forerunner in promoting XRP. However, the efficiency of the XRP ledger is another reason why it is making rapid progress. Keep in mind that XRP transactions are cheaper and faster than Bitcoin transactions.
The CEO of Ripple, Brad Garlinghouse, during an interview, said that XRP transactions are 1000 times faster than Bitcoin transactions. In his words:
“Yes, there are many speculations about Ripple and the cryptocurrency community as a whole. The important thing to do now is separate both from each other and shift our focus to expanding real world use cases. In terms of services, XRP is 1000 times faster and cheaper than Bitcoin”.
The CEO said that the long-term survival of XRP will depend on it use cases. The more applicable it is in solving real life problems, the stronger it will be.
XRP (XRP) Price Analysis
Today, XRP is trading in red against the USD and Bitcoin but it is still above the significant $0.50 support level. As long as it stays above this level, there is hope for a reversal. Falling below this level will make it more difficult for the bulls to resume the upward move. It is trading at $0.509116. Which means it is down by 1.70% against the USD and down by 1.66% against Bitcoin. With a trading volume of $434,453,138, the XRP token has a market capitalization of $20,469,260,296.