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”
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?”
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.”
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