Connect with us

Ripple

Ripple: xRapid corridors, Bitso and Coins.ph witness 14-day high

Avatar

Published

on

Ripple's xRapid corridors, Bitso and Coins.ph witness a 14-day highs
Source: Unsplash

Ripple’s payment solution, xRapid, witnessed lower overall volumes. However, two independent corridors, Bitso and Coins.ph, witnessed higher volumes over the past two weeks.

According to data obtained from xrpgraph.com, a Twitter user by the name of BehindTheLedger tweeted,

“Although xRapid volumes have slowed from the levels we saw in early April, today the inflows to Bitso and Coins. ph are at a new 14-day high”

Source: Twitter | BehindTheLedger

The chart attached above shows that xRapid volumes for both of the above-mentioned corridors reached their highs on April 11, before crossing it. Bitso’s xRapid volume was $28,000, while that of Coins.ph was $77,000.

Another Twitter user, @hmatejx, tweeted along the same lines, stating,

“Behold the heartbeat of xRapid! These 2 tags alone have transferred 2,500,000 USD since March 2019. Note the weekend gap and high activity during business hours. Both (1 for Philippines, 1 for Mexico) started operating almost simultaneously. Do they belong to the same entity?”

Source: Twitter | Hmatexj

According to @hmatejx and the chart attached, Bitso and Coins.ph transferred a total of $2.5 million USD across borders using Ripple’s xRapid payment solution, over 2 months.

Ripple’s xRapid was the most-awaited payment solution, largely because it would make use of XRP, causing many XRP enthusiasts to anticipate an XRP price surge, once xRapid has enough volume moving across borders. The above, coupled with @Bearableguy123’s “clues,” contributed to enthusiasts believing that the price would hit $589 by the end of 2018.



A few users on Twitter, however, expressed their distrust. A Twitter user, @GG81942496, commented,

“Behold the price of $XRP not done anything considering xrapid is live – lets see the excuses rolling in 😂 regulation, chinese new year, tax season, its not large enough payments..the list goes on”

Another Twitter user, @Crypt0_prophet, commented,

“because price is driven purely by speculation still. 2.5 mil dollars over the course of 2 months is basically nothing in terms of total dollar volume traded. It’s just the tip of the iceberg.”





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Ripple

Ripple: Cryptocurrencies can reduce friction in global commerce, claims CEO Brad Garlinghouse

Arijit Sarkar

Published

on

Cryptocurrency can reduce the friction of global commerce, says ’s Brad Garlinghouse
Credit: Pixabay

Given the constant disregard for cryptocurrency and blockchain by financial institutions, prominent crypto-leaders have personally been preaching the technology for furthering global adoption. One such figure is Ripple’s CEO, Brad Garlinghouse.

Ripple’s Garlinghouse has always made an effort to minimize the common man’s speculation around tokens. Recently, he made headlines for sharing similar views on Recode Decode, where he said,

“You went from illicit activity to speculation, and today you’re going from speculation to utility.”

While exhibiting his support for cryptocurrency adoption, Garlinghouse made it clear to viewers that he did not expect banks and governments to “be obliterated by the new technology”. He also shared his vision for the future, stating that the system can be changed only by working with the system.



The Vox interview also touched upon Garlinghouse’s claim that crypto-adoption would result in the direct reduction of friction in global markets. He said,

“These are profound technologies that can really benefit society in lots of ways. We can reduce the friction of global commerce, we can allow people globally more access to the economies around the world to compete. I think that’s actually a really good thing.”

He further argued that different currencies, including fiat and crypto, could find specialized use-cases for different things. Along the same lines, he also supported Bitcoin [BTC] investments alongside developments in the XRP ecosystem, as he believed that both work best owing to their unique use-cases. The interview finally ended with Garlinghouse mentioning this on a cautious note:

“Focus on the substance, not the hype. It’s going to impact lots of parts of lots of industries in the same way the internet impacted lots of industries.”





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending