Ripple hits new milestone in payments, likely catalyst for XRP price
- Ripple announces expanded liquidity options to meet customers’ payment needs round the clock.
- Ripple offers customers access to over 70 payout markets through its international payments network.
- XRP price rally is likely to be catalysed by developments in XRPLedger and Ripple Payments.
Ripple, a cross border payment remittance firm, made several announcements in its annual conference Swell.
The firm hit a key milestone with respect to payments for its customers. The developments are likely to be catalyzed by a boost in XRPLedger and Ripple’s utility.
Also read: XRP price could extend gains with Ripple’s likely win through $20 million settlement with SEC
Ripple announces key developments at Swell 2023
Cross border payment remittance firm, Ripple, shared its key milestones at its annual conference Swell.
Introducing Ripple Payments—the next evolution of Ripple’s payments product delivering a licensed end-to-end solution for FIs and SMEs with 70+ payout markets, expanded crypto liquidity options, integration with the XRP Ledger DEX, and much more.https://t.co/khOxtCnXin
— Ripple (@Ripple) November 8, 2023
The firm has received money transmitter licenses across numerous US jurisdictions and the Monetary Authority of Singapore. This allowed Ripple Payments to expand its products and services in over 70 payout markets.
The firm’s customers can access 100% global payout coverage and global liquidity options. This boosts XRPLedger’s utility, likely driving demand for XRP token higher.
Ripple’s Payments product has expanded its liquidity and reach, according to the firm. Developments in Ripple have previously catalysed gains in XRP, since the token is native to XRPLedger.
In its recent updates, the firm announced integration of Payments with XRPLedger DEX. This boosts liquidity and accessibility for its customers and offers expanded crypto liquidity options to users.
Ripple’s clients are working on using Payments to open payment corridors between nations like Africa and the rest of the world.
We’re proud to announce that our partner @Onafriq will utilize Ripple Payments, our crypto-enabled payments technology, to open up three new payments corridors between Africa and the rest of the world.
— Ripple (@Ripple) November 8, 2023
Learn more: https://t.co/FU0pjHuqIA
At the time of writing, the XRP price is $0.6955. The altcoin is in an uptrend and yielded nearly 1.5% gains on the day, for holders on the centralised exchange, Binance.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
