Ripple (XRP) was up another 7% to $0.5734.
And for a brief period the other day, Ripple passed by Ethereum (ETH) to become the second largest coin on the market, according to CoinMarketCap.com.
All on Exciting Ripple News
The team will launch a commercial version of its payment platform, xRapid in the next month or so.
xRapid will help businesses and financial institutions transact without friction. It will also address the issue of “minimizing liquidity costs and making cross-border payment transactions faster. xRapid claims to significantly reduce the capital requirements for liquidity,” as reported by CNBC.
As that story heats up, and as we near launch XRP could move even higher.
In addition, SBI Holdings CEO Yoshitaka Kitao is bullish on $10 targets for the coin. Even Brad Garlinghouse says banks will be utilizing the XRP products by 2019. In short, the more xRapid is utilized, the higher the value of the digital currency.
Better yet, There’s Increased Adoption by Banks
More than 100 financial institutions have adopted Ripple and are in the process of benefiting from its blockchain solutions.
A division of PNC Financial Services Group Inc will also use technology built by startup Ripple to process international payments. This could very well be a precursor to the use of blockchain in the world of finance.
Ripple could dethrone Bitcoin
According to Ripple CTO, David Schwartz:
“Bitcoin and Ethereum are currently viewed as the gold standard for decentralization — meaning they are architected in a way that no single individual or minority group can dictate rules or rewrite transaction history (the power of blockchain!). Since these blockchains are considered decentralized, then by design, the XRP Ledger is also — if not more so — decentralized than both Bitcoin and Ethereum.”
The XRP Ledger is based on an inherently decentralized, democratic, consensus mechanism — which no one party can control.
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