During the last couple of months, the XRP price has remained fairly stagnant, yet Ripple has been actively working on improving adoption and usability for the coin. Now, following a 7% increase in price over the last week, the Ripple’s team efforts are finally starting to pay off.
New Features to Encourage XRP Adoption
A recent report issued by the XRP community summarises the latest improvements.
With this in mind, Ripple has been working on integrating a number of blockchain-based products into the traditional financial system, hence granting it increased speed and cost efficiency.
Some of these include peer-to-peer payment, social media, and web monetization apps.
Additionally, Ripple has also released xRapid, a platform meant to power cross-border payments between banks, large corporations, remittance firms and individuals.
On the other hand, the xCurrent enterprise software helps banks instantly settle a plethora of cross-border payments, using end-to-end tracking technology.
This means that banks message one another prior to the transaction to confirm details, and once again afterward, to confirm settlement from both sides.
The xCurrent product has been introduced towards the SME sector using a video, showcasing how the system would solve a variety of issues, such as costs associated with paying suppliers and vendors in other countries, time efficiency, low transparency, and no traceability.
The issues are dealt with via xCurrent’s Rich Data Attached, End-to-End Transparency, and Complete Certainty features.
Solving Real-World Problems
Based on these aspects, Ripple is slowly but surely developing an all-inclusive solution for large, medium and small organizations, but also for banks, by solving most of the payment issues faced by the industries.
In the future, this is bound to increase adoptability rates of XRP, while also bringing along a bull-rally that is expected to considerably increase the coin price. Some believe that XRP has the potential of becoming the world’s second-biggest digital currency, yet only time will tell.