Last week the price range of the third most valuable crypto-coin in the world was pretty stable, letting it start the new week at the margin of nearly $0.60. That’s about Ripple – and it’s just a question of waiting whether this currency will recover to its May 6 high of $0.90.
Currently, there’s something else that Ripple can proudly offer, besides the price of its XRP token.
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xRapid Changing The Game?
According to News.BTC, the broad adoption of blockchain while addressing the issue of daily problems indeed can speed up the implementation of decentralized applications. Taking a look at Ripple, it can be seen that its core is blockchain and there are four products to offer its customers. Among them, there is xRapid, a payment method that helps carry out remittances, which can also make the market more efficient.
Taking the floor at the Consensus 2018, the chief cryptographer at Ripple David Schwartz noted that both businesses and startups that adopt xRapid are warranted to save up to 70% of expenses. At the moment of the demonstration, x Rapid, which utilizes RippleNet, could transfer money between two North American countries – the US and Mexico. This remittance took only two minutes, and the related processes included the generation of transaction receipts as well as records on the blockchain.
The xRapid digital asset for payment uses XRP coins to offer demand-liquidity, which significantly reduces costs when making real-time remittances possible. It is believed that with xRapid the financial transactions are carried out transparently, so the fear of fraud is also lowered. So despite anything, it is not mandatory for users to resort to XRP coins. Therefore, there’s no need for them to worry concerning fluctuations of XRP on the market.
Xpring – Another Creation For Ripple-Lovers
Also, at the demonstration Ripple announced its another smart enterprise called Xpring. According to the notification, it is there to take part in funding companies, startups as well as individual entrepreneurs, who use Ripple products. However, on Ripple’s official web-page it is said that Xpring will be there to fund, incubate, offer grants or even pile into startups that leverage on Ripple’s technologies.
By the way, it will be Ethan Bear who is going to drive this program, a senior VP of Ripple and now of Xpring too. Interestingly, before obtaining this position, Bear used to be a director at Facebook’s Developer Network.
Relating The Price
It is noteworthy that since the end of April Ripple/XRP price has been going down, including the past week, during which, even though, the depreciation was slow. If on April 25 XRP was valued at nearly $0.95, currently it is being traded at the rate of $0.69, as per Coinmarketcap.com. As of writing, the price of the coin is slowly going up, showing a 0.35% growth within the past 24 hours.
However, things may change as Ripple has more and more to offer in the crypto-ecosystem, including Xpring and xRapid. But, definitely, it is the buyers who will clarify the price and make their own conclusions.