XRP token’s price was at all time high, reaching $1.43 yesterday. This was a near thirty percent rise in prices in last twenty-four hours, about 450% last month and by more than 20,000 in this current year. So, let us look at few of the strong points of XRP which are fueling this growth.
How Ripple is reaching all time high?
In recent times we have noticed that many of the cryptocurrencies have been very volatile, but Ripple is the one which has been able to quickly recover out of the recent doldrum.
Few of the other benefits of XRP are:
Growing Global Network
- It offers payment providers as well as banks an on-demand as well as reliable option for sourcing liquidity when cross border payments are to be made.
- It becomes possible for banks to source liquidity on real time without the need to pre fund any of the nostro accounts.
- If you are a payment provider then you can utilize XRP for expanding your reach into newer markets, ensure quicker payment settlements and reduce foreign exchange expenditure.
- At present it is faster (payment settlement takes place in four seconds) in comparison to other crypto-coins such as ETH and BTC.
- It is also considered a scalable platform since XRP is able to handle about 1,500 transactions every second (TPS) and also has the capability of scaling to manage similar throughput as VISA can.
- The set of validators are growing rapidly for XRP, making it even more popular with every passing date.