Ripple And XRP To See Mass Integration With New Money Transfer App

Blockchain startup Ripple set to launch new crypto-based product xRapid

At any time, anybody can review the ledger and see a record of all activity on the Ripple protocol. Rather it sounds like it will only offer functionality for sending money from one bank to another.

The new platform is powered by Ripple's xCurrent, a solution that allows banks to instantly settle cross-border payments.

Although Ripple has shared some wonderful news on the matter of pushing the adoption of XRP in the following months through offering xRapid to banks and financial institutions, we can still see XRP dropping against the fiat with the latest negative trend.

As CCN reported earlier in February, the Saudi Arabian Monetary Authority (SAMA) - the kingdom's defacto central bank - became the first central monetary institution in the world to join RippleNet. These firms are part of a larger consortium of financiers that represent more than 80% of Japan's banking assets.

The head of regulatory relations for the Asia Pacific and the Middle East at Ripple, Sagar Sarbhai says that he is quite confident about the launch of its crypto-based product xRapid and it will be utilized as commercial application very soon.

In an interview with CNBC's Arjun Kharpal Sarbhai said "I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production".

The calm before the storm? #Ripplegang hopes
The calm before the storm? #Ripplegang hopes

Using XRP as a gateway between various currencies, xRapid will be able to facilitate faster cross-border transactions between payment providers and banks.

Money Tap could well be the start of a new revolution for Ripple and XRP in Japan.

That might as well be possible with the latest product by the Ripple foundation, as the team is aiming at bringing XRP to financial institutions the same way they introduced xVia and xCurrent to financial and banking giants like SBI group, Santander bank, and Western Union.

The fact that the project is already making a success is mirrored in the case of having SBI group, which already partnered with Ripple previously, testing xRapid for XRP based transactions. Having receded significantly since, the cryptocurrency is now worth about 28 cents, according to index tracking website CoinMarketCap.

Even at that price, the token still has a market capitalization - calculated by multiplying the price by the number of coins in circulation - of $11.2 billion, making it the third most valuable digital asset. Investors can then use their newly-acquired Ethereum or Bitcoin to buy XRP using one of the aforementioned exchanges. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. For further information visit Terms and Conditions section on TokenTops. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink. Failed Trade Recommendations should not be rated as that is considered a failure either way.

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