Ripple CEO Brad Garlinghouse has drawn attention to the recent XRP price bull run, acknowledging a bullish statement regarding the token’s trading activity.
Garlinghouse retweeted a post by Austin Reid, the global head of revenue and business at crypto brokerage firm FalconX, who reported significant growth in XRP trading.
Reid stated, “XRP trading is on fire.” He then highlighted that FalconX witnessed a “10x growth in volume between the first and second halves of Q4.” He emphasized that this surge is not solely a result of increased retail interest but is largely driven by institutional participation.
Over the past week, XRP has delivered a staggering 117% increase in its market value, climbing from $1.30 to a peak of $2.80. After experiencing a 24% drop on Tuesday, XRP regained but is now down 9% in the last 24 hours, trading at $2.30.
The cryptocurrency’s monthly performance has been impressive. It added $100 billion to its market capitalization and reclaimed the third spot among cryptocurrencies by market value.
In a related development, Ripple has addressed several key issues that local banks face with cross-border payments.
In a detailed post, Ripple outlined six major obstacles encountered by banks. These include high transfer costs and hidden fees, slow transaction settlements, limited access to payment networks, reliability concerns, compliance complexities, and liquidity shortages.
Ripple’s post explains how its payment solution can mitigate these challenges. To reduce costs, Ripple Payments offers a low-cost transactional platform suitable for remittances.
Settlement delays can be resolved through Ripple’s transparent payment tracker, which operates during non-business hours, including weekends and holidays. This service enhances transaction reliability and overall customer satisfaction.
To address limited access, Ripple Payments connects users to a global payment network featuring advanced tools designed for efficient and affordable transfers. Meanwhile, compliance risks are minimized with the platform’s adherence to stringent regulatory and security standards.
Ripple also emphasizes that unreliable services and liquidity constraints, which harm banks’ reputations and hinder operational efficiency are alleviated through its innovative offerings. The article positions Ripple Payments as a comprehensive solution for financial institutions aiming to modernize their cross-border payment operations.
According to analysts and market observers, XRP’s dramatic rise reflects broader institutional interest. This shift marks a new phase for the cryptocurrency, aligning with Ripple’s ongoing efforts to address inefficiencies in global financial systems.
As XRP consolidates above $2, its appeal among institutional investors grows, further driving market momentum.
By spotlighting these developments, Garlinghouse underscores XRP’s evolving role in the financial sector and Ripple’s commitment to innovation.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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