Ripple CEO Brad Garlinghouse has reacted to the recent XRP price surge by sharing an enthusiastic message about the cryptocurrency’s impressive performance. Garlinghouse reposted a bullish tweet by Austin Reid, the global head of revenue and business at crypto brokerage FalconX.
Reid revealed that his company had seen a tenfold increase in XRP trading volume between the first and second halves of Q4. He emphasized that retail investors don’t just drive this growth but are significantly fueled by institutional participation.
The week prior, XRP delivered one of the market’s most shocking performances, gaining 117% to trade at $2.80 after starting the week at $1.30. Notably, XRP has since gained 1.47% in the last 24 hours, exchanging hands at $2.65. This impressive growth also increased XRP’s market capitalization; within one month, it added $100 billion. It has now entered the top three of market capitalization, which signals a stable increase in demand for XRP in the market.
Also Read: Ripple vs SEC: Paul Atkins Selected as SEC Chair, Will the Case be Dismissed?
Advertisement
Ripple’s Solutions to Banks’ Cross-Border Payment Challenges
In a tweet earlier today, Ripple shared insights into the six major issues banks face in cross-border payments. Ripple outlined how its blockchain technology can address these challenges, which include high transfer costs, slow settlement times, limited access, reliability issues, complex compliance management, and liquidity constraints.
Ripple’s article highlights how its payment solutions can streamline and optimize these processes. For example, high transaction fees have become a problem of the past in Ripple’s platform through cheaper and faster international payment.
It also solves another problem businesses confront when their bank service lacks reliability and service quality. Ripple has a precise payment identification number that works non-stop, including weekends and holidays, making it easier for banks and customers.
Ripple’s global network also provides banks with broader access to international markets. This allows for more seamless payments with state-of-the-art features that enhance the efficiency of cross-border transactions. Ripple also ensures compliance with security and regulatory requirements, alleviating concerns over risk and compliance management.
Ripple’s innovations continue to gain attention, mainly as XRP’s price momentum accelerates. As the cryptocurrency sees growing institutional backing and adoption, Ripple remains focused on addressing key pain points in the banking and payments sectors.
Also Read: Ripple CEO Brad Garlinghouse Addresses Scams with Humorous Video Amid XRP Surge
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.