Certainly not as radical as other crypto enthusiasts, the Ripple team doesn't want to overtake and destroy fiat currency, but rather improve on the system that we already have.
After reaching an increase of 20% against the fiat in the course of 24 hours, XRP once again showed an wonderful progress in the market, possibly making one of the top gaining currencies in the market that is now bouncing back up with new gains.
Ripple's currency has been the subject of hot debate over the past several months.
At the same time, there has also been some controversy at the helm. Notably, Cardano (ADA) and EOS (EOS) are both up more than 4 percent on a 24-hour basis. "They've committed to [transactions] with other customers." .
Ripple has announced a new addition to its growing RippleNet payment facilitation platform. Coffey alleged that XRP is primarily a security thanks to the way it's been handled and distributed in the past, and thus it is in violation of various securities laws. Ripple has become the World's second largest cryptocurrency. It is definitely the big players trying to capitalize on the sentimentalist approach of Ripple (XRP) investors who as we have seen in the past trade big on FUD and FOMO.
Reports from Smartereum suggested that one of the executives at Ripple said that its x-Rapid product might go live by the end of this month. Ripple uses the ecosystem of the XRP token for cross-border settlements. These collaborations are essential in providing the ecosystem in order to facilitate xRapid. Interestingly, it's new closest competitor, which appeared to see a massive influx of money from far east exchanges last week, following a series of good news stories and the tease of an xRapid launch has not suffered a drop of as some commentators suspected would happen.More news: Oculus Quest Announced by Facebook for $399
Ripple Labs has two other core products under development. XRP completes approx. 1500 transactions per second and according to their official claims, it can scale this up to 50,000 tps, which is the same as VISA transfers.
By gaining access to Ripple's ultra-fast cross-border payment system, PNC Bank will be able to avail its customers of cheap and high-speed worldwide payments which cost exponentially less than alternative money transfer methods and use on average only three seconds to confirm a transaction. "The use of XRP is mandatory with this product".
The partnership will be offering excellent services to commercial customers of the bank.
Ripple Labs is set to hold its Swell conference on from 1 - 2 October in San Francisco. Ripple now has more than 100 clients around the world and operates in 40 countries.
XRP was released in 2012 - about three years before ether tokens came to be and roughly four years after bitcoin.
At the time of writing, XRP's market cap is $21.7 billion, with ETH's leading at $22.4 billion.