Ripple has been making headlines recently as its premier offering for cross-border payments, xRapid, is making strides towards building the necessary infrastructure for its implementation. This also bodes well for XRP HODLers as the product directly utilizes the liquidity pool offered by the world’s third-largest cryptocurrency.
The hype is also backed up by bullish statements made for the advancement of the product by Ripple executives. Cory Johnson, the chief market strategist for Ripple, stated:
“Mexico and the Philippines – those are countries where there’s a lot of remittance payments going out of other countries and into Mexico, into Philippines. And there’s a lot of trade in XRP, so I think we’re gonna see a lot of adoption of our products in those countries; we’ve already seen that.”
This comes after Ripple partnered with one of the biggest cross-border payment providers in the United States, known as Viamericas. The company offers services in 34 countries, with an established network of inroads into various local banking systems.
This was revealed in their brochure detailing how xRapid works, a part of their push to drive the product after it was launched earlier this month. The CEO of Viamericas, Paul Dwyer, stated:
“We believe that digital assets like XRP will play a key role in the future of cross-border payments, helping to safely address some of the structural inefficiencies of legacy settlement infrastructure.”
In an interview with CoinTelegraph, Cory Johnson also mentioned Ripple’s strategy to push its products. He stated:
“I expect our rollout would be…most will be xCurrent, a little bit will be xRapid, and even less will be xVia. Over time that might change, but initially the oldest stuff gets the most traction, because customers have had a chance to look at it the longest and get used to the idea more quickly. I think they’re going to those places where they’re ready for a change, but where does it have some actual use?”
This provides a much-needed boost to investor sentiment for the coin that is moving sideways.
After seeing a whopping 140% growth in a huge spike last month, XRP is now resting on the support lines it created for itself post the growth. However, the coin is now trading at $0.46 after a short upwards movement earlier today.
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