XRP Investors are continuing to weigh every word said or WrittenNovember 11, 2019
XRP provides for the fastest and lowest cost option for sourcing liquidity in cross border payments as opposed to pre-funding. Thus, making efficient use of the working capital. The technology is leveraged for micropayments in e-commerce exchanges and peer-to-peer services. The payments which move across the XRP ledger settle in 4 seconds.
The weekend consolidation of Ripple was dominated by sideways consolidative action. However, the upside was capped at $0.2850.
The price has been working between the 50 SMA support and 100 SMA support. The RSI recovered from oversold conditions.
Fukushima Bank will integrate the MoneyTap app powered by Ripple. Thus, customer convenience will be improved, and the operational costs will be reduced.
RippleNet recently announced that it had surpassed more than 300 customers. There have been ten times a year over year growth in the Ripplenet transactions. The On-Demand Liquidity, which leverages XRP, eliminates the need for pre-funding in cross border payments.
Brad Garlinghouse, CEO of Ripple, stated, “This year has been our strongest for Ripple yet. In 2019 we’ve seen continued momentum with customers, growth of RippleNet, and adoption of On-Demand Liquidity. In just a year since we launched ODL, we are already making an impact on the bottom line for our customers.” Further stated, “We’re excited to continue this momentum into next year and for the expansion of ODL into new markets.”
Swell, the two-day annual conference of Ripple, was organized in Singapore from November 07, 2019 to November 08, 2019. The Keynote speakers who made it to the event were Kamal Quadir, bKash CEO, Ambassador Chan Heng Chee, Ambassador at Large of Singapore Foreign Ministry, and Dr. Raghuram Rajan, Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth.
The event showcased what is unfolding in the global payments sector these days and about why it matters in the remittance industry.
Kahina Van Dyke, Ripple enthusiast, tweeted, “The magic is when the money moves with the data.”
The ODL frees up capital and provides for the most competitive rates in the cryptocurrency industry. Fastest service with low cost is possible with ODL.
Brad Garlinghouse stated that despite all the skepticism about how XRP can be used for cross border liquidity, more than 20 customers are using XRP for cross-border liquidity, and the industry is further working to identify the use cases around the blockchain.
Reportedly, at one point, some companies migrated to the XRP ledger as it is efficient. The crowd of XRP investors is continuing to weigh every word said or written.