The parent firm of XRP (XRP) – Ripple Labs – has one major goal for the digital currency. The major goal of the San Francisco-based blockchain startup is for XRP to attain mainstream recognition and adoption. Ripple has been working towards this goal over the past years. The startup has also released some products such as xRapid, to increase the utility of XRP.
Ripple recently achieved a major milestone as it succeeded in getting XRP listed on the over-the-counter (OTC) trading platform of Huobi. XRP (XRP) is now available for trade on the trading platform alongside Tether (USDT), Ethereum (ETH), Bitcoin (BTC), and Huobi Token. Huobi is the 8th largest digital currency trading platform in the world. Adding XRP to the OTC trading desk of the platform is a big win for both XRP and Ripple.
XRP (XRP) Price Today – XRP / USD
xRapid Solution for Over-the-Counter (OTC) Trading Platforms Will Boost the Utility of XRP – XRP News Today – Best Cryptocurrency to Invest in 2019
XRP fans are suggesting the use of xRapid – one of Ripple’s products that uses XRP for cross-border settlements – in over-the-counter trading platforms. The solution xRapid provides can completely get rid of delays in high volume international transactions. In addition, it can drastically reduce the costs of transactions. When it comes to OTC applications, xRapid will make high volume trades fast and inexpensive.
The price, as well as the adoption of XRP (XRP), would greatly benefit from the use of Ripple’s xRapid in OTC trading platforms. XRP will not be the only beneficiary. OTC desks will also benefit from the liquidity features of xRapid and they will get that pool of extra cash that they need for massive trades. A lot of digital currency trading platform are increasingly adding over-the-counter desk services to their services. This would also attract a lot of institutional investors with needs for high volumes.
More Exchanges Are Opening OTC Trading Desk – Cryptocurrency News Today – Cryptocurrency Market Update
Some top digital currency trading platforms have already joined this train. Bittrex and Binance – the world’s most dominant digital currency trading platform – already have their over-the-counter desks. Bithumb – a South Korean-based digital currency trading platform – just opened an over-the-counter trading desk.
According to some analysts, OTC trading is one of the biggest influences on the price of Bitcoin (BTC). Nevertheless, it is usually ignored since most data is based on digital currency trading platform trading data. However, OTC trading is not done on an exchange. It is either a peer-to-peer process or a broker-assisted trading platform. Hence, over-the-counter data is not part of the global trading volume conversation. Nevertheless, it is immense. For instance, Ripple had XRP sale worth $19 million in March to an unknown third party.
XRP Price Analysis – XRP Price Prediction 2019 – XRP USD Live Price – Cryptocurrency News Today – XRP News Today
The use of xRapid in OTC exchanges will significantly boost the price of XRP. At the press time, XRP (XRP) is the only digital currency among the top ten that is currently trading in the green. The price of XRP, at the time of writing, is $0.3947 after an increase of about three percent over the past twenty-four hours. The digital currency is currently supported by at the 39 cents mark. On the upside, the immediate hurdle of the coin is at the 41 cents level.