Blockchain technology has ensured that we see a range of tech solutions and innovative products that tackle the issues faced by financial institutions in the last few years. Off all the network’s that depend on the Blockchain protocol, Ripple, is a well-known figure. The network has been strongly tipped as the Blockchain-oriented firm that would effectively revolutionize the banking sector. This will be in terms of models for funds transfer. Ripple, the company has popularized its XRP token. It has ensured that XRP is one best options for making fast cross-border payments.
Now, Ripple’s VP of product marketing, Kevin Mole, gave reasons why Ripple is the best when it comes to cross-border payments. He did this when he featured in Ripple’s video tweets. The executive had a lot to say when explaining XRP’s role in improving cross-border transactions.
XRP (XRP) Price Today – XRP / USD
Cryptocurrency Market Update: Ripple Offers Fast, and Low-Cost Transactions With No Pre-funding
In the video, Kevin highlights that Ripple’s XRP token is more favorable for cross-border money transfers because it provides a very fast (if not instant) settlement model at a very low cost. He added that people who use XRP to transfer funds do not have to pre-fund their destination account. According to the VP of Product Marketing at Ripple, this is one of the numerous advantages that the XRP token has over traditional banking models.
Cryptocurrency Market Update: Ripple Is Looking to Expand its Coverage by Year End
Kevin also added that Ripple’s payment model has spread well over the world. He mentioned that the payment system is operational in the Philippines and Mexico already. A lump sum of the money transferred to these two countries is used mostly to cater for food, school fees, upkeep, and any of such immediate needs. He said that using XRP to conduct instant transactions usually comes in handy in most cases like these.
The Ripple chief said his company is looking to roll out its transaction system to cover more countries by year end at least.
Cryptocurrency Market Update: Investors Want More Movement
The video by the Ripple executive, received numerous positive replies, with a large number of the fans showing optimism about this future offered by XRP. However, in the midst of the optimism, there were a few individuals who thought XRP needs a level of positive price action for investors to choose to prioritize the asset class.
One of the commenters on the post on Twitter, even claimed that they can sell their XRP token at $500 per coin. This is definitely a statement that affirms how bullish most XRP holders are in the current frame of things.
Off course it is no secret that Ripple has been making some headlines in recent weeks. This comes in the company’s quest to work with as many financial institutions and world banks as possible. The goal is to ensure that these banks use Ripple’s XRP token for their cross-border transactions. All financial institutions that want to utilize Ripple’s payment solution have to be a part of Ripple’s RippleNet. Some examples of such institutions are xCurrent and xRapid.
What is the Price of XRP Today? XRP Price Prediction 2019
At press time, XRP is trading at $0.401538 USD according to Coin Market Cap. Its total market cap is $17,066,141,468 USD with a 24 hour volume of $1,231,641,390 USD.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.