XRP has proven critics wrong once again by stunning the crypto-markets with double digit gains in 24 hours and for a second time. At the moment of writing this, XRP is currently valued at $0.3589 and up 12.80% in the last 24 hours. The chart below shows the two instances that XRP has achieved this feat with the first being by 21% in gains in a period of 24 hours.
Reason Behind the Sudden Interest in XRP
In a 17th of September interview to CNBC, Ripple’s head of regulatory relations for the Asia-Pacific and the Middle East, Sagar Sarbhai, hinted at the firm will be launching xRapid operations in the next month or so. His exact words were as follows:
I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.
He was also enthusiastic about the general direction of the crypto and blockchain space. This was evident when he said the following:
A couple of years ago the narrative was blockchain good, crypto bad. But I think what we’re now seeing is that more and more regulators are taking the whole space in one conjunction [sic]. You cannot have runways built without airplanes… [T]hat narrative is thankfully changing, and policymakers are recognizing there is a strong benefit that digital (crypto) assets bring.
xRapid: The Golden Goose for XRP
A few days ago, xRapid was branded ‘The Golden Goose’ for both the Ripple company and XRP. This is due to the fact that the cross-border payment solution, uses the digital asset to source instant liquidity for the near-instant transactions.
The Ripple company has already partnered with the three exchanges of Bittrex, Bitso and Coins.ph exchanges to source the instant liquidity provided by XRP. Once the operations go live, we will see an increase in the trade volume of XRP in these exchanges. When we add that to the exploding interest of XRP in the markets due to the xRapid news, the sky is the limit for the digital asset.
Disclaimer: This article is not meant to give financial advice. Any opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.