Ripple (XRP) is arguable one of the most active projects in the cryptoverse. Its highly functional payment solutions have seen repeal seal major partnerships and consequently mainstream attention follows. However, Ripple lives up to expectation through the hype and attention it receives.
Ripple’s instantaneous payment option xCurrent has handed Ripple some major partnerships in the past, two of such are Santander Bank and American Express. Ripple’s partnership with American express dates back to November 2017, however, a report showed that the company will be stretching itself more into the work with blockchain technology.
American Express reported yesterday, June 11, 2018 through an ad announced that will be introducing a blockchain solution in collaboration with Ripple and Santander Bank. Although the ad has been edited out by American Express, it stayed long enough for viewers to get the picture. The collaboration between the three companies is featured on XRP Official, twitter handle.
The ad from American Express was part of a job posting on the company’s career board. Last week the Vice President at American Express, Colin O’Flaherty confirmed at Money 2020 event that the company will be adopting Ripple’s xCurrent payment option for faster and more transparent transactions at a global level.
Since then the Ripple community and crypto enthusiast have reacted positively to the news of American Express and Santander Bank working together. Following the news, Ripple Network has had a jump in the number of new accounts created over the last 2 days. Ripple’s xCurrent and other payment option from Ripple has helped Fintechs move funds like information moves today.
Ripple’s Kuwait Landmark
Ripple’s payment solutions have undoubtedly had the biggest crypto projects influencing the Financial industry. Ripple’s xCurrent, xRapid and xVia payment solutions provides cheaper, faster, and more efficient cross-border transactions for Fintechs, and secures big partnerships for Ripple in the process.
Ripple’s newest partner is the Kuwait Finance House (KFH). KFH; the second biggest bank in Kuwait announced that it will be adopting Ripple’s xCurrent payment solution not long after enlisting in the RippleNet. KFH is now the first bank in Kuwait to Join RippleNet for instant cross-border transactions.
Price and Market Performance of Ripple (XRP)
Over the last one week, the crypto market has had a rough run. The hack on South Korean exchange platform Coinrail hack further increased the selloff, at the detriment of the digital assets. Over 99% of the market traded in the red over at a point in the last one week, and the cumulative value of the crypto market dropped below $300 Billion.
Cryptocurrencies are beginning to stage a comeback following a week plagued by massive decline. The total market cap of all cryptocurrencies combined has now above $300 Billion. Opening trades for today (June 12), over 55% of the market are now in the green, Ripple falls into the other half of the trailing crypto market.
As at the time of this writing, Ripple (XRP) is trading at $0.59 USD following a decline of 0.23% over the last one day. Ripple remains ranked as the 3rd largest cryptocurrency with an estimated market cap of $23.132 billion USD. The value of XRP may be growing rather slowly in comparison to the Ripple Network, but the series of Ripple’s partnership will provide enough momentum for Ripple to finally hit $1.