Ripple chief executive officer Brad Garlinghouse has marked the recent astonishing price growth by reposting an ultra-bullish message about XRP.
“XRP trading is on fire”
Garlinghouse has retweeted an X post published by Austin Reid, the global head of revenue & business at crypto brokerage firm FalconX, according to his X bio.
“XRP trading is on fire,” he tweeted that his company has recorded “10x growth in volume between the first and second halves of Q4.” Reid believes that this is not just a reaction to the massive retail investor activity but rather “institutions are driving the momentum.”
Over the past week, the Ripple-affiliated cryptocurrency XRP has stunned the market with a jaw-dropping boost of roughly 117% as it spiked from $1.3 to a local high of $2.8. After a 24% plunge on Tuesday, today XRP has recovered nearly 19% and is currently trading at $2.63 per coin. Besides, XRP has added $100 billion in one month and has soared to the top three position in terms of market capitalization value.
Ripple shares top 6 issues faced by banks
In a tweet published earlier today, Ripple blockchain giant shared six “common cross-border payment challenges for local banks” and tweeted how it can solve these issues that banks have encountered.
Those snags hit by banks are high transfer costs with hidden fees, slow settlement, limited access, service reliability issues, complex compliance management, and finally liquidity constraints, according to the tweet.
6 Common Cross-Border Payment Challenges for Local Banks:
1️⃣ High costs w/ hidden fees
2️⃣ Slow settlement
3️⃣ Limited access
4️⃣ Service reliability issues
5️⃣ Complex compliance management
6️⃣ Liquidity constraintsLearn how Ripple Payments addresses these challenges:…
— Ripple (@Ripple) December 3, 2024
Ripple added a link to its article in which it explains how these issues can be easily solved. High costs can be solved by applying the Ripple Payment solution for transactional payments and remittances.
The issues with service quality and reliability can be eliminated, according to the article, thanks to a fully transparent payment tracker created by Ripple, which is available even at weekends and on holidays, as well as payments on Ripple, unlike in the case with banks. These problems damage banks’ reputations and customer satisfaction.
Besides, Ripple Payments connects customers to a global network for payments that boasts new state-of-the-art features for seamless and cheap payments, thus solving the problem of limited access to services. The article also points out that Ripple Payments follows all the necessary compliance and security rules, thus providing a solution to the issue related to risk and compliance management.
