Ex-Ripple Employee Says Banks Adopting xRapid May Not Affect XRP Price - Today's Gazette - Cryptocurrency, Bitcoin News
Connect with us

Ex-Ripple Employee Says Banks Adopting xRapid May Not Affect XRP Price

3 New Additions To Ripple (XRP) Ecosystem


Ex-Ripple Employee Says Banks Adopting xRapid May Not Affect XRP Price

An ex-Ripple employee has highlighted his doubt about the positive impact which XRP supposedly derives from the use of xRapid by Ripple, the payment company.

The ex-employee, who spoke on condition of anonymity according to CryptoSlate, agreed that big Ripple partnerships increase the price of XRP as seen when Ripple announced an investment in MoneyGram.

The Ripple employee attested to the fact that the price of XRP is being moved by notable announcements, despite the fact that XRP and Ripple, the payment company are two separate entities.

The anonymous former Ripple employee said the progress of Ripple is most time misinterpreted with the progress of XRP.

The source claimed that xRapid adoption usually has no effect on the price of XRP. As known, banks do not compulsorily need to hold tonnes of XRP when they intend adopting xRapid.

He claimed that even if banks adopt xRapid in millions, the effect may not be felt on the XRP market.

Also READ  Apple and Google Accept Ripple's XRP Payment App, XRP Tip Bot

“Even if every bank used xRapid the price of XRP wouldn’t necessarily increase.”

Bitrue’s Ripple XRP Validator Goes Live, Aims at Improving the Decentralization of the Network

Bitrue, the Ripple XRP-centric exchange marks its first anniversary today 19th July 2019. A couple of hours ago, the exchange announced its intention to celebrate specially with XRP community member, by gifting out 30,000 XRP proportionally to the holders who have at least 100 USDT in their wallets.

On this same day, Bitrue exchange has also announced the running of its own XRP validator. According to the tweet, the tool that has just gone live will be crucial to the mission of the digital currency as the consensus process closes by.

The official announcement also reads that the validator will be functional at improving the decentralization of Ripple XRP network, reiterating its dedication to making the cryptocurrency excel, with the hope of convincing other crypto exchanges to follow suit.

Also READ  Can IBM-Stellar (XLM) Blockchain World Wire Beat Ripple (XRP)?

Read the official statement below:

“Bitrue’s very own XRP validator is now running. XRP validators are crucial to the mission of XRP as they participate in the consensus process and improve the decentralization of the network. We’re dedicated to the success of XRP & hope that other exchanges will join us soon!”

I am a creative writer and a cryptocurrency enthusiast. Learning and writing about Bitcoin (BTC), Ripple's XRP, and TRON (TRX) are my hobbies.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

More in Altcoins



Press Release


To Top