Ripple (XRP) – was one of the best performing cryptocurrencies in 2017. The coin aims at raising its price on the market. That is still possible but let us see what XRP has been up to currently. The cost of XRP skyrocketed at the beginning of the year.
There were rumors that XRP was joining cryptocurrency platform Coinbase. This rumor caused the increase in the price of the coin, and it peaked at $3.82 by January 4th. The rate, however, dropped when the talk was not confirmed. XRP has stayed below $1 till now. XRP has plans of drawing attention to its coin once again.
Talk of partnerships, Ripple powered a Santander app called One Pay FX. Many crypto followers believe that the app has the potential to cause a growth spurt in Ripple because many countries will use the app. The app supports international payments and the app also completes global payments in a day.
We can also talk of xVia which is one of the best remittance tools globally. xVia is a product of Ripple, and as it turns out, new companies are joining the platform. MoneyMatch, UniPay, Exchange4Free, FairFX, and RationalFX have revealed that they would use xVia’s payment solution to support their payments through RippleNet. Customers will be able to remit funds quickly, and XRP will benefit in the long run.
There is an ongoing partnership between Ripple and over 100 banks. These banks can perform foreign remittances using Ripple. Woori Bank in Seoul and some Japanese banks have confirmed that the transaction is comfortable and convenient.
Koinex Announces XRP Based Trading
Around the end of last month, Koinex announced that it would begin XRP based currency pairs on its platform. The platform offers eight token pairs on both mobile and web. XRP pairs with currencies including OMG, REO, AE, LTC, EOS, GNT, and NCASH. The platform also allows crypto to crypto trading. There are no charges for trading between cryptocurrencies. Traders can sell for free on the platform. However, they will pay a trade fee that is calculated based on the value of the order placed by the trader.
Koinex is an Indian-based platform, and all charges are in Indian Rupees. Many crypto enthusiasts are impressed with Koinex’s move. They are also of the opinion that the partnership will be advantageous to both sides. They also believe that this partnership can help raise the price of XRP. The co-founder and CEO of Koinex, Rahul Raj mentioned that the platform is built to meet the demands of the modern market. He also promised that there is more to come so crypto enthusiasts should watch out for more innovations.
Koinex also offers Six Ethereum (ETH) and Nine Bitcoin Cash (BTC). Unfortunately, Koinex only allows Indians to trade on the platform. Many people are calling on the Koinex to allow other nationalities to also sell on the platform. We do not know how far that plea would go.
Codius Revived after the Introduction of Interledger
Now the most trending news on Ripple XRP now is its contract platform called Codius. Codius discontinued in 2015 but they revived it after the introduction of interledger. The interledger is a medium that allows communication between two cryptocurrencies. Although the platform is in its early development stage, codius will provide an excellent platform for secure smart contracts.
Why You Should Consider Investing In XRP
The technology of XRP is a selling point of the coin. The currency features a third generation block chain technology that allows you to make transfers in less than 4 seconds. The fast rate is a good score for the coin considering the transaction times for the other cryptocurrencies. Ethereum makes transfers in 3 minutes while Bitcoin takes 10 to 30 minutes to complete a transfer successfully.
The potential of XRP regarding liquidity is vast. The currency’s partnership with several banks is a step towards decentralization. Talk of Ripple’s xRapid, the payment solution lowers liquidity cost, and it also increases payment speed. Even Mercury FX, a global currency specialist, was impressed after conducting tests on the xRapid.
Even though XRP is an independent platform, Ripple always makes it a point to integrate their products and allow them to reap the full benefits from one another. has made XRP one of the most convenient payment tools in the cryptocurrency world. XRP now operates on most payment solutions because Ripple makes it possible to use XRP in most institutions that they partner.
One thing that has often been a misunderstanding for people is the relationship between Ripple and XRP. According to the CEO of Ripple, Brad Garlinhouse, it is essential for people to know that Ripple and XRP are not the same. Even though Ripple developed XRP, the cryptocurrency operates independently. Hence, investing in XRP does not make you an investor in Ripple. In simpler terms, investors should not view XRP as security.
Now to one of the most important questions; is it profitable to invest in XRP this month? Well, there is no definite answer. However, this might be a good time only because XRP is selling at a low rate right now. The price of XRP dropped up to 90%. Buying at this price is profitable since there are indications that the price will rise again. You might find yourself smiling in a few months.
The cryptocurrency market has faced a significant drop in prices over these few months. However, most currencies have introduced innovations that are causing a surge in the rate of these currencies. Ripple (XRP) has not been left behind in all these innovations. The coin is making strides to lower liquidity cost. Many cryptocurrency platforms have accepted the currency. With all the work done with Ripple and Ripple (XRP), XRP is bound to make incredible progress and investors need to have a little more patience. Up to 200 financial institutions will accept xCurrent in no time. XRP will also be able to penetrate into those institutions in no time. XRP is currently trading at $0.857350 with a market cap of $31 billion.