XRP is Leading in Price Increase as Ripple Will Launch xRapid
According to CNBC's September 17 report, Ripple may launch a commercial version of its payment platform xRapid around the next month. Sagar Sarbhai, Ripple's head of regulatory relations in the Asia Pacific and Middle East, told CNBC that Ripple xrp is making progress in launching its product xRapid. The xRapid product is a real-time billing platform for accelerating international payments. xRapid is built for commercial purposes and is supported by XRP tokens. It minimizes liquidity costs and makes cross-border payment transactions faster.
xPaid has been tested in 12 banks before launch
Sagar Sarbhai claimed at a recent financial technology conference that xRapid has been trialed at 12 banks before launch. He said: "In 2016, we piloted 12 banks. These 12 banks are located all over the world and there is no pre-financing relationship between them. What we do is to give these banks some XRP and let them solve the problem by themselves. The result is very good."
This exciting Ripple xrp news led to the rise of the whole cryptocurrency market.
The market value of the top 100 currencies was over 80%, and XRP led the gains as xrp price increased 18.52%. After the news was reported, in the top 100 currencies of the market value, the over 80% of the currencies are now rising, and XRP (+18.52%) leads the gains. In the CBT20 currency, except for DOGE (-3.73%), XTZ (-0.10%), and USDT (-0.14%), all currencies showed an increase, and the average increase is 3.73%, of which BTC increased by 1.40% and ETH increased by 6.63%. The larger ones are XRP (+18.52%), ADA (+8.96%), and EOS (+4.88%). In the top 100 currencies of the market value, the over 80% of the currencies were up, and the average increase was 11.17%.
Although Ripple has been reported good news continuously, but didn’t benefit to the XRP price, because there is no direct relationship between XRP and Ripple, but the reason that xRapid's upcoming news can drive the price of XRP is that xRapid is the only one product of Ripple which needs to use XRP as the support. The market performance brought by this news is more favorable to illustrate the relationship between XRP and Ripple, which has been controversial for a long time.
Anyway, after a period of market downturn, this news undoubtedly restored investors' information on the cryptocurrency market to a certain extent, especially the Ripple market. I’m looking forward to xRapid's official launch next month will bring a wave of benefits to investors.