Cryptocurrency XRP is leading price increase as Ripple looks to new launch

Cryptocurrency XRP is leading price increase as Ripple looks to new launch

Early this work, PNC, the banking giant based in the U.S. stated that they would be using the blockchain technology from Ripple.

A WSJ report states that Jed McCaleb, one of Ripple's co-founders, sold between 20,000 to 40,000 XRP per day until July. While that appeared to be more bad news, the markets seemed to be happy to see the fact that it was not an outright rejection as a positive sign.

Today's session has been much more challenging for Ripple. It has worked with the status quo every since its beginnings. Meanwhile, the broader crypto market is also enjoying a sea of green. Previously, Ripple had already added one of the largest banks in the Middle East.

The company plans to launch the commercial version of xRapid in October. For payments, we think that has additional requirement.

"Gemini continues to explore potential jurisdictions around the globe to provide a best-in-class digital asset exchange and custodian which will enable growth and infrastructure to the entire digital asset community".

According to CNBC's September 17 report, Ripple may launch a commercial version of its payment platform xRapid next month.

The Bitcoin Cash (BCH) price has risen 14% to US$495.76 per coin, lifting its market capitalisation to US$8.6 billion.

This latest development is another milestone by Ripple which has been making moves to ensure that it becomes a powerhouse in the remittance and cross-border payment industry. At any time, anybody can review the ledger and see a record of all activity on the Ripple protocol.

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Then, Ripple company announced on September 19th a deal with the PNC Financial Services Group, one of the largest banks in the US.

PNC is now the 10 largest bank in the U.S, with more than 8 million customers and branches in several states across the country.

NBC will make use of RippleNet by the last quarter of this year and would result in its customers experiencing much faster and more transparent global payment services.

Ripple has revealed that it has signed its first major US bank to its network.

"xRapid on the other hand, leverages communication systems to allow institutions to settle inter-bank transactions using the XRP digital asset". And the reason behind this is the number of lawsuits that Ripple Labs is dealing with.

Jed tried to dump his XRP quickly and Ripple acted to stop him through a series of lawsuits. Ripple controls only seven percent of the nodes used for validation. They also tend to be more secure, due to their open source nature.

The U.S. SEC has requested further comments relating to the ETF backed by investment firm VanEck and financial services company SolidX. Thus, it is likely that the US Securities and Exchange Commission will not consider Ripple a security and this has been a bullish decision in the past for cryptocoins.

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