XRP makes probably the most of Crypto Crash and XRP Crypto Market Dominance has doubled since December
While the market continues to decline, the price of XRP is increasing every day. Although its value appeared inaccurate from November 23, the increase has tended to dominate the other cryptocurrencies since December.
At the time of going to press, XRP is the second largest cryptocurrency by market capitalization. XRP has fairly overtaken the other largest cryptocurrencies in the market, including Ethereum and Bitcoin Cash. What’s even more impressive is that while Bitcoin’s value is trending down, XRP has been the top performing crypto coin for some time.
Criticism of Ripple Adoption
On the other hand, a confrontation hit by rival TransferWise, which refuses to accept blockchain until more banks adopt Ripple’s technology, has “questioned XRP”. As quoted by Coingape, said Taavet Hinrikus, co-founder and chairman of TransferWise;
“If every bank in the world were to go through the Ripple network, it would be amazing. But how many banks are using Ripple in production today? It’s a very short list
We’d love to support Ripple if it actually helps us significantly in getting things done cheaper and faster, but we haven’t found any yet. “He adds
Ripple dominating fintech
Ripple’s continued partnership with fintechs is escalating, which ultimately affects the value of XRP. Ripple’s underlying products have recently been adopted by a number of financial institutions and banks. Cross-border payments are expected to grow 3.4 percent this year, according to the World Bank report, and RippleNet is certainly doing well in this sector. In addition, the price of XRP is often reflected in the increasing adoption of the Ripple product xCurrent, RippleNet, Xpring and xRapid, where few products work with the XRP ledger.
Fintech executives like JP Morgan are also said to be taking advantage of Ripple, which has actually brought investors closer to Ripple and XRP. Additionally, reports recently predicted Ripple’s potential to overtake SWIFT, leading many people to take a close look at XRP’s graph.
Early last week, Ripple joined the CIMB group in Malaysia and is expected to work with other major fintech companies such as Siam Commercial Bank from Thailand and MUFG from Japan and others.
What do you think of investing in XRP? Do you think it will stay in the second position? Let’s discuss
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