The ongoing Swell by Ripple conference has been an event to showcase the prowess of the Brad Garlinghouse led company. The event has always acted as the point for Ripple to reveal its developments over the past year, be it in the form of partnerships or usage metrics.
During the latest edition of the event, Brad Garlinghouse informed users of all the steps taken by Ripple to ascertain its dominance in the cross-border transactions department. In his words:
“Earlier today we calculated that we had crossed over 300 customers on our platform which shows the rapid pace at which the industry is developing. Ripple has also been onboarding 2-3 customers on a daily basis and XRP holders will be happy to know that we have payout capabilities in over 70 countries across the globe.”
The Chief Executive Officer [CEO] of Ripple mainly focused on the company’s 10x Year on Year growth for the current time period. Fans of the cryptocurrency can also rejoice at the fact that XRP did more transactions in October 2019 than it did in all of 2018. Cryptocurrency enthusiasts scampered to find out why the price of XRP has not gone up despite the significant developments from Ripple.
At press time, Ripple’s XRP was changing hands for $0.289 with a total market cap of $12.5 billion. The third-ranked cryptocurrency held a 24-hour market volume of $2.48 billion after a prolonged sideways price movement that affected almost all the assets on the charts. Garlinghouse further added:
“As we kick off the conference, we’re really pleased with all the momentum. There are strong network effects: the more customers you have on the network, the more value in joining the network. And we certainly expect to continue to see that momentum build as we bring all of our customers together and they get introduced to each other. We expect more corridors to go live and continue to fuel that volume growth.”
The company also expressed its ambition to see companies like Bitso to succeed in the industry so that digital asset exchanges become more robust and healthier. The Ripple honcho was confident in expressing that the FUD around XRP was all smoke and mirrors and that in reality, multiple customers were benefiting from the cross border liquidity advantages.
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