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XRP Price Rallies to $0.8194 Despite Its Lawsuit Against SEC

Gaurav Roy by Gaurav Roy
August 12, 2021
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California, USA – Ripple’s XRP gains 4.12%, having a price of $0.8194, even though it continues to face the lawsuit filed by SEC or the Security and Exchange Commission. According to experts’ predictions, it aims to strengthen its clutch on Asia.

The XRP price boosted up to $0.8194 in the past 24 hours, and this digital asset is gaining adoption after Ripple established a partnership with SBI Remit, Japan’s biggest money transfer provider.

Since SBI Remit became partners with Coins.ph and VC Trade, the opportunity established a new remittance channel. Ripple plans to use its “on-demand liquidity” or ODL strategy through XRP tokens using RippleNet. It aims to facilitate Filipino workers’ remittances, which is an estimated $1.8 billion yearly. Despite the potential of this digital asset in Asia, the competition is ongoing because of SWIFT Go.

 

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SWIFT introduced SWIFT Go to let institutional banks, consumers, businesses, governments, and sovereign wealth funds send remittances without worrying about security. This provider handles over 11,000 funding institutions in 200 countries.

The performance of SWIFT in the industry puts doubt on some investors when investing in this cryptocurrency.

Another struggle that Ripple is facing is the lawsuit filed by the US SEC. As per SEC, Ripple sells this cryptocurrency as a security instead of currency. Regardless of the lawsuit, this digital asset improves its performance, jumping from $0.73 to $0.81.

Aside from that, the company bought a 40%-stake in Tranglo, and it targets to improve this token’s presence in the continent. According to the company, Southeast Asia only lacks a cross-border solution that can integrate payment as well. With its technology, it can use its ODL strategy for these partnerships.

Ripple focuses on growth in new markets. Experts expect XRP’s price to exceed further with its idea to go public once the company settled the case against SEC.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: Asiabankscrypto assetcryptocurrencycustomersdigital assetfundingjudgelawsuitremittancesSECsecurity
Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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