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Ripple is a company specializing in cross-border exchanges presenting itself as a competitor of the SWIFT network. Its payment network has seen an increase in activity in recent months, with the addition of around fifty partners.
350 global partners for Ripple
In an interview in late May, South Asia branch chief executive Navin Gupta said the Ripple payment network was gaining traction.
In fact, the Ripple company has established 50 new partnerships since November 2019. These new signatures allow Ripple to reach the 350 partners spread across the globe.
"We are one of the largest blockchain companies in the world, which is in production. We have around 350 financial institutions that use our technology every day, ”he said.
In February, Ripple was the only crypto company to appear, alongside the giants PayPal and Stripe, in the top 100 achieved by FXC Intelligence, which compiles companies facilitating cross-border payments.
Source : Decrypt
100 million XRPs exit escrow account
Unfortunately for the XRP token, the growing adoption is not yet reflected in the price.
Indeed, despite these new partnerships, the price of the Ripple has not seen any change in its price despite the recent rise in Bitcoin, and has remained at a stable value of around $ 0.2.
This situation may well continue, or worsen in the coming days, following the release of 100 million XRP tokens from the wallet escrow.
Indeed, there is a good chance that these tokens will end up on public exchanges, which can potentially cause downward pressure on the price.
Ripple still remains one of the main cryptocurrencies in terms of capitalization. This did not prevent stablecoin Tether from taking third place, passing XRP, following the explosion of its use.
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