Ripple rallies on optimism the cryptocurrency finds a home

Ripple rallies on optimism the cryptocurrency finds a home

XRP is also up 56% against BTC over the past five days.

XRP is now trading at $0.46105 Dollars, representing a 12.93% loss in the last 24 hours as it closes as the highest loser amongst the top 10 cryptocurrencies.

Ripple's currency has been the subject of hot debate over the past several months.

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At the same time, there has also been some controversy at the helm. They see XRP as the future of payments rather than Bitcoin. Certainly, for critics of Ripple (XRP) this was another opportunity to criticize it as a pump and dump scheme and to warn new investors as to the harms of catching the FOMO train on this one. Coffey alleged that XRP is primarily a security thanks to the way it's been handled and distributed in the past, and thus it is in violation of various securities laws.

Remitano, a peer to peer cryptocurrency exchange announced its listing of Ripple XRP earlier this week.

Coinbase release shows the prospect of Ripple (XRP) getting listed on the platform soon.

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Nevertheless, Ripple isn't allowing these little barricades to get in the way of its progress. These partnerships include the China-based payment provider Lian-Lian, the Saudi Arabian Monetary Authority and Western Union among many others.

XRP demonstrated a three-fold increase in price, with Stellar and Cardano mimicking the short-term trend of XRP. "Payments into emerging markets often require pre-funded local currency accounts around the world, liquidity costs are high. xRapid dramatically lowers the capital requirements for liquidity", the website says.

The surge of XRP was the result of Ripple stating that their new product xRapid will go live "in the next month or so".

Ripple has been known to partner with different banks and companies. PNC will not be using XRP, according to reports. However, a huge number of banks used Ripple before. Ripple already has a similar product - XCurrent, but it does not use the XRP token.

Ripple Labs intends xRapid to compete with the Swift Network, which presently is the most common means by which banks transfer large sums of currency across borders. The company is set to hold its Swell conference on October first and second in San Francisco, where speakers ranging from Payments Canada to former President of the U.S. Bill Clinton are scheduled to make appearances. Ripple's technology is now operating in 40 countries with the fintech revealing to the media that it now has over 100 clients around the world. Instead, it was gifted the token by the creators and, from this, it built the xRapid platform on top of XRP.

Since the spike last week, XRP market capitalization has toppled by over $9 billion.