Find out the reasons behind the rise in the price of Ripple (XRP) by more than 15% today
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Answer Find out the reasons behind the rise in the price of Ripple (XRP) by more than 15% today
Has risen Ripple (XRP) price By more than 15% today after the emergence of a number of positive news about the project, which reflected positively on its performance in the market.
knowing that Ripple (XRP) It is one of the most important digital currencies in terms of market size, occupying the third place according to Coinmarketcap data.
The project has a dedicated open source payment network and aims to be the first choice for banks and individuals to transfer funds across borders.
And the price of Ripple currency (XRP) witnessed a rise of more than 13% in less than half an hour, and it continued to rise until it exceeded $0.315 levels.Read:The Korean government is investing 230 billion won in blockchain technology
This rise comes as a result of a group of news launched by the network, such as the joining of the National Commercial Bank in the Kingdom of Saudi Arabia to the RippleNet network, especially that the National Bank has more than 5 million customers.
In addition, the team hinted at the launch of one of the project’s core products (xRapid) in the middle of next month, and that the team will take care of the project’s organizational and legal matters.
This new product (xRapid) aims to help banks speed up remittances and process transactions using the XRP digital currency as a bridge between other fiat currencies.
For example, when the product (xRapid) is used by the National Commercial Bank to process an international transfer from the Saudi riyal to the US dollar, the riyal will be converted into the XRP currency and transferred to the World Bank and converted into US dollars for withdrawal in a process that takes seconds.
Ripple CEO Brad Garlinghouse stated that many banks are ready to use xRapid by the end of 2019. Ripple was founded in 2012 and the company owns 60 billion of the 100 billion XRP tokens in the market.
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