Ripple Exchange Rate Rises Following Positive Company News
The rate of the XRP token from Ripple has shown a significant increase on Friday, September 21. According to CoinMarketCap, the price of the cryptocurrency went up by 43.3% and amounts to $0.46. The last time such a rate was observed in early August. Such a change may be related to the positive news that the company has recently announced.
Recently, PNC, one of the largest American banks, has implemented the xCurrent payment platform, developed by Ripple. This solution allows transferring money to international accounts quickly and protects from all possible risks. Ripple’s Vice President believes that the product will be especially useful for small businesses. He also clarified that xCurrent conducts transactions instantly, unlike traditional services, where the operation lasts two or three days.
Another news concerns Ripple plans to launch a full-scale version of the xRapid platform. With its help, banks will be able to carry out cross-border payments, as well as convert cryptocurrencies into fiat and vice versa. The blockchain-based solution uses XRP tokens to ensure the liquidity of a particular sum. Moreover, such a transfer doesn’t require a real monetary equivalent in the bank account, which allows speeding up a transaction. The platform will be launched next month.
At the same time, the crypto company settled litigation with the consortium R3. The parties failed to comply with the terms of the contract. Therefore, they filed claims against each other. At the beginning of the process, the total amount of the subject matter of the dispute amounted to $1 million, but a few months later the price of XRP increased, and the sum reached almost $4 billion.