Ripple [XRP] the 3rd ranking cryptocurrency is slowly pacing towards growth but can’t break the overall resistance level.
At the time of writing XRP was changing hands at $0.366558 with a growth rate of 0.50% currently. The growth seems a little lesser than expected for cryptocurrency like XRP. A lot growth is still expected from the market. XRP shows an average of 3-4% over the last 3 months on many exchanges.
Last year this time, Ripple[XRP] was at the peak by trading at almost $3 and has declined this then and haven’t reached there again yet. Despite this fall XRP hasn’t given up on its expansion plans.
In its recent tweet, Ripple stated that it has reached 200 customers worldwide. This means that 200+ financial institutions are leveraging RippleNet to make international payments faster, at lower cost. This network is also said to be comparatively transparent enough for this kind of payments.
200+ financial institutions are leveraging RippleNet to make international payments faster, lower cost and more transparent. Learn more about our newest RippleNet customers here: https://t.co/scORZ41ngS
— Ripple (@Ripple) January 8, 2019
The insights given by Ripple reveals a lot of factors which may ensure a secure growth over the coming period. The expansion of the network is increasing with a high pace. This is because XRP has just signed up 13 new financial institutions for the payments.
This include include Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND and Rendimento.
Kaushik Punjani, Director of Euro Exim Bank, one of the newly signed financial institution says:
“As a leader in trade finance solutions for global corporates and fintechs, we are uniquely placed to offer new payment channels and ways to source liquidity. Our customers—whether big corporates or individual remitters—have historically been restricted from obtaining suitable funds or settling transactions in a cost efficient and timely manner.”
“Working collaboratively with Ripple and selected counterparts, we have designed, tested and are implementing both xCurrent and xRapid in record time, and we look forward to the benefits these will bring our customers.”
Brad Garlinghouse, CEO of Ripple also says that In 2018, nearly 100 financial institutions joined RippleNet, and we’re now signing two—sometimes three—new customers per week.
They also saw a 350 percent increase last year in customers sending live payments, and we’re beginning to see more customers flip the switch and leverage XRP for on-demand liquidity.
At the end Ripple wants to provide an excellent experience to the customers and also experience efficient cross-border money transfers.