Ripple’s CEO Brad Garlinghouse reckons banks ready to hop on XRP

The chief executive of Ripple, the blockchain company based in San Francisco was recently interviewed by Fortune where he said that banks and other payment providers are ready to “flip the switch” as well as incorporate the crypto token XRP. Garlinghouse added that the more than 200 banks and financial institutions that have signed with Ripple are making preparing to start using xRapid in order to improve the cross-border transfer experience.

“This is the year the wheat will be separated from the chaff. Not many months ago, the media was saying no one will use XRP, which made for good skeptical headlines. Today, you can’t say that, as people are starting to use xRapid because it’s better, faster and cheaper.”

One of the banks, Euro Exim Bank has already expressed its intentions to launch xRapid powered XRP transfers. In fact, the bank’s branch in London said that it will roll out the payments as early as the first quarter of 2019. Moreover, future plans are to ensure that digital assets payments are made available to more than 80 countries.

XRP is trending higher on the first day of the week with gains in the excess of 2%. The market is generally in the green as XRP/USD battles to come out of the bear range and correct above $0.34. At press time, it is trading at $0.325 with immediate resistance at $0.33 and $0.34 respectively.

XRP/USD 1-hour chart