The third-largest cryptocurrency in terms of market capitalization, XRP is showing the strong sentiment of recovery on Monday with the price growth of over 8 percent within the past 24 hours.
Is XRP Recovering its Value?
Today, on August 19, 2019, Ripple’s native token, XRP began the new week with the sign of recovery. With the crowning cryptocurrency, Bitcoin pouring by over $10400 trading value, other leading cryptocurrencies are following the suit.
As we write this post, XRP’s trading value is witnessing the jump of 8.09 percent within the past 24 hours and trades at the value $0.28 against US Dollar. Moreover, as the third-largest cryptocurrency, XRP’s trading volume counts at $12,319Billion.
XRP’s surging volume comes in the wake of the latest news in favor of Ripple. While the token is showing bullish sentiment, the parent company, Ripple received an enormous boost from Spanish megabank, Santandar Group.
Santander Group to Explore xCurrent in New Payment Corridor
According to the report, Santandar Group announces its plan of launching “new payment corridor” to enable Latin American customers to send money to the United States with no fees. For an upcoming payment corridor, Santandar is working with One Pay FX which uses Ripple’s powered xCurrent.
Nevertheless, the bank will employ xCurrent to serve its customers of Latin America for payment transfer service to the US.
To remind, Santandar was in hot bulletins in last week with the report of “blocking” payment service to Coinbase crypto exchange. However, the bank later denied the reports claiming that and states, “it was not the case,” but services are subject to checks.
As for One Pay FX, its CEO recognizes surge in interest and need of remittance service. The CEO, Cedric Menager told the media;
“Customers who were not doing international transfers are now using the service, customers who were using international transfer are now doing it more, and customers who had gone to use fintech competition have come back because of the One Pay offering,”
Moreover, a Twitter user referred to the data from Coinbase exchange and found that over 80% of the XRP users are inconsistently buying XRP. Another report published by Tron Weekly Journal (TWJ) also explains the company’s effort of boosting the XRP adoption via blockchain projects — by assisting them with infrastructure and funding requirement. As such, content platform Coil was among the latest names that received 1 billion grant in XRP from Ripple’s investment arm, xPring.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.