From time, Ripple has made it clear that it’s goal is to take over traditional payment systems by providing a faster and more efficient method of cross-border payments using its technology. Yesterday, the industry giant didn’t hold back from pointing out the flaws in today’s conventional payment systems. On its official Twitter handle, Ripple posted about the challenges of regular payment services. The company gave estimations of how long cross-border transactions take using Swift and other global payment systems.
This post on Twitter comes a few days after Ripple made an argument about how physically sending money is sometimes faster than sending it through banks. The CEO of Ripple, Brad Garlinghouse, said that putting money in a bottle and sending it to Mexico will not take as much time as sending money through some banks.
Cred Offers USD Loans With XRP Collateral
On another side of the industry, Cred, one of the leading cryptocurrency-backed lending companies in the industry, announced that it now offers loans that are collateralized by the XRP. This is another good step in the right direction regarding XRP adoption.
Main while, the founder of XRP Capital, Micheal Arrington, has said that he is one of the biggest fans of Cred. He also said that the adoption of XRP is one thing that is going cause a revolution in the industry. In his words:
“Cred is already successfully building a new generation of warning and lending products. Recognizing the XRP is one step towards achieving its overall goal”.
XRP (XRP) Price Analysis
XRP moved above the $0.50 mark some days ago and it has been able to hold this level. Right now, the third cryptocurrency per market capitalization is trading at $0.500991. This shows that it is down by 1.94% against the USD and down by 0.90% against Bitcoin. Over a 24 hour period, the trading volume is $601,550,414 while the total market capitalization is $20,142,583,019. The next few days of trading will determine if it will break the support at $0.50.