Ripple is still trying to find support above the $0.30. For now, this top altcoin is trading in the red zone. The price of XRP is $0.297540, after a drop of 5.69% was felt. The trading volume recorded is $1.558 billion. The total market cap of Ripple is $12.665 billion.
For now, the circulating supply has 42,566,596,173 XRP tokens. The entire market is showing the presence of bearish momentum, as the price of Bitcoin has fallen below $10,000.
David Schwartz, the Chief Technological Officer at Ripple was at a conference in Berlin, Germany. He spoke of Ripple’s adoption across the globe, as financial and fiat banking giants have decided to be on board.
As of this moment, users can carry out cross-border transactions in a blink of an eye. He also talked about possible deals involving Amazon and Uber, both renowned organization. It is interesting to know that Uber is a crucial part of the board which presides over the centralized Libra.
The CTO stated, “…Amazon has thousands of merchants that they make payments to. Uber, if you’re in the Philippines and you’re a driver and you need money for milk, Uber would love you to drive for them and buy milk right that day…They need payments that are as reliable as email for that to happen…”
Once again, he called Ripple a better solution due to its high-speed transactions and negligible fees, “XRP is a decentralized digital asset not connected to any jurisdiction, that moves more quickly and more cheaply than Bitcoin…Financial institutions use xCurrent to make and receive payments, xVia to initiate payments and xRapid to provide cross-border liquidity.”
Regulations are by far the greatest resistance for all major cryptocurrencies. If Ripple wishes to remain at the top, it must keep soaring. Although, the price has been largely static through this year, even though XRP had reached $0.40 for a short while.
Some say that Ripple will become the most “valued” asset in the future. This is far from the truth, as HODLers have been unable to have major gains.