Justin Sun Thinks XRP's Surge Shows Financial Institutions Will Adopt Blockchain


Ripple Welcomes PNC Bank into RippleNet

Ripple has so far avoided being labeled a security Several ongoing lawsuits allege that Ripple is a security.

Remarkably, since September 18, Ripple's trading volume has skyrocketed from a range of $200 million to $300 million to more $ 4.7 billion, more than 15-fold.

He even went on to congratulate Ripple's CTO Stefan Thomas.

At the beginning of this week, Ripple executives hinted that it may launch a service that will use the digital currency "in the next month or so.". Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies. However, starting in August, according to a public clearinghouse of token trades, he started selling 499,312 XRP a day, and at one point sold 752,076 a day.

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"I am very confident that in the next month or so, you will see some good news coming in where we launch the product live into production."

It is said that the xRapid has been designed in order to "bridge" between crypto and fiat. The use of an underlying cryptocurrency as part of a cross-border payments solution for conventional banks represents a new departure. How exactly does it work?

"Payments into emerging markets often require pre-funded local currency accounts around the world".

This is ideal for banks, which have historically been hesitant toward the use of cryptocurrencies, as the xCurrent product does not use Ripple's digital currency, XRP, unlike the xRapid platform. "How do we circumvent banks?'" This attitude has helped Ripple gain crucial partnerships with important financial players. Among which is Santander and American Express. The founder of Stellar, Jed McCaleb, is also the ex-founder of Ripple.

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Ripple's website describes xRapid as a product for payment providers and other financial institutions who wish to minimize liquidity costs and also improve their customer experience. However, Ripple then answered that the sample was quite small to see a difference.

Sarbhai said about 120 banks and financial institutions had already partnered with Ripple for using its blockchain-based settlement product, xCurrent. Stellar's current price of $0.255 comprises a daily gain of 18.5%, however, similar to XRP, the markets XLM market produced a parabolic spike of 30% on the intraday charts before retracing to current price levels. The availability of xRapid will mark the largest move yet of a blockchain-based product into mainstream use.

One of the worst performing cryptocurrencies this year is making a comeback.

A "Flippening" has arrived once more in the digital currency markets, but much to the vexation of Ethereum (ETH) investors - this isn't the one that has been long expected by Ethereum holders. It seems unlikely that such a move was simply caused by salty ETH fans not wanting to see their favourite crypto project take third place behind a coin that many dismiss based on its links to worldwide banking institutions.

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