XRP's graph has shown a linear rise over the previous 48 hours.
The price of XRP, the cryptocurrency associated with Ripple - a company that uses blockchain for providing financial services - has spiked by nearly 74 percent in four days. However, many cryptocurrency enthusiasts who follow the fortunes of the currency took to Reddit to clarify their belief that Western Union is structured in such a way as not to be in a position to benefit from xRapid. The aim is to speed up cross-border payments while also reducing costs.
Ripple came into existence with the aim of abolishing this lengthy process as well as high-level transactional value.
In order to give to its subscribers/followers an opportunity to use blockchain-supported cross-border and oversea payment systems, LG Uplus [mobile branch of LG] joined with global partners the like of Ripple's payment solutions (XLM), Stellar (XLM) and Swift.
Exciting news for the hodler of Ripple and believers. Ripple has brought back the buying sentiment in the market, and all the top coins went green as it mooned. It is a product which aims at banks and financial institutions.
The company also detailed the growing demand for cheaper and faster low-priced payments as the remittance market continues to grow all over the world.
Through xCurrent, U.S. business clients of PNC will get an opportunity to enjoy instant payments received from their foreign buyers according to their invoices.
For payments, which again we think are the killer app, we think that's where it all starts. For instance, just recently Ripple teamed up with the National Commercial Bank in Saudi Arabia, and this triggered the opening of an essential payments corridor between the USA and Gulf Countries.
The pattern formation consists of a lower price peak that looks like a left shoulder, a higher price peak that resembles a head formation, a right shoulder that is another lower price peak and a neckline that is drawn by analysts.
XRP was released on a distributed ledger in June 2012, with 100 billion XRP created before Ripple the company was formed in September 2012. A stand out in recent times are the comments from Brad that Ripple and XRP would be a mainstay by 2019. These two payments corridors will offer immediate services to NCB's customers (over 5.4 million worldwide) that they have not had access to before. The xRapid process goes through mainly four steps.
The fifth largest cryptocurrency didn't perform better despite news that it has been listed on Circle investing app.
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Bittrex is to hold transactions made with US Dollars, while Coins.ph and Bitso are for Philippine Pesos and Mexican Pesos respectively. Although perhaps not meant to be an official statement, these remarks serve to confirm other rumors that xRapid is nearing the end of its testing phase, and will soon be put into real-world use.
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