The recently concluded Swell event by Ripple confirmed what every XRP fan had known all along: that xRapid was live and being used by banks around the globe. As part of RippleNet, xRapid is providing the much needed on-demand liquidity to financial institutions carrying out cross-border transactions. At the base of xRapid is XRP which is the chosen digital asset that has the capability of settling payments in less than 4 seconds on its ledger.
The XRP ledger can also handle 1,500 transactions per second, with a total of 50,000 tps possible through integration of other systems. This in turn validates Brad Garlinghouse’s recent comments that XRP is better than BTC. His exact words were as follows:
I really don’t think about the price performance. I do think about the technical performance. And I think about the fact that XRP is about 1,000 times faster than a Bitcoin transaction and about 1,000 times less expensive than a Bitcoin transaction. XRP has demonstrated it is the most efficient digital asset to solve a payment problem.
Tipping Point Has Already Arrived
The announcement at Swell that xRapid was already being used by financial institutions, was the moment every crypto trader was waiting for. This includes the XRP community, and the vigilant trader who wants to maximize on the possibility of potential gains in the future. XRP will be a coin to watch out for in the markets moving forward.
XRP as A Base Currency
Another thing that has been noted, is that crypto exchanges are gradually embracing XRP as a base currency. One such exchange is CoinField. Binance on the other hand, has still not responded to the XRP community’s request to add XRP as a base currency on the platform due to the facts that it is the fastest, cheapest and will become the most sought after cryptocurrency in the crypto-verse due to the earlier mentioned xRapid news announcement.
The fact of the matter is that XRP has managed to double in price since the 17th of September when news broke that xRapid would go live in October. A rise by 100% in 2 weeks is impressive in the current bear market.
With Bitcoin looking more and more stable at its current range above $6,400, it is possible to see XRP surpass $1 in the coming weeks.