Tanya Abrosimova
Independent Analyst
- XRP/USD has lost nearly 15% in January.
- CoinGate adds XRP support for its merchants.
XRP/USD is hovering above $0.3000 handle, mostly unchanged on a day-over-day basis. The second largest coin with a market value of $12.4B lost nearly 15% in January amid global sell-off on the cryptocurrency market. However, a slew of positive fundamental news might reverse XRP’s fortune.
Meanwhile, customers of cryptocurrency payment processor CoinGate now can add Ripple’s XRP to its payment options and, consequently, accept payments in this coin.
"We are happy to cater to the huge XRP community and vastly expand the use cases of this digital asset. By being one of the first payment gateways that process XRP natively, we hope to boost its utility significantly,” the company said on the blog post.
Now the owners of XRP can pay with this cryptocurrency while shopping at over 4,500 online outlets. The company emphasizes that this first native XRP payment processing service can boost the cryptocurrency usage on a day-to-day basis.
Merchants are also likely to benefit as XRP is one of the largest cryptocurrencies. With the new payment, option merchants will see a steady inflow of new customers.
"Once our vendors will start getting XRP payments, they will have an option to instantly settle the revenue in Euros, Bitcoin, Ether, or keep the funds in XRP – whichever they prefer!” CoinGate added.
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