Back in 2018, Ripple had it rough after the lawsuits because of the controversial ‘’securities discussion’’ but has since returned on the stage and now is the second best cryptocurrency in ranking with a market cap at about $12.8 billion. In today’s altcoin news we can see that the XRP ledger has officially crossed 1.5 million users.
With the increasing market cap, the XRP ledger also increased its user base since it was less than 1.3 million in June last year and has now seen a growth of more than 15 percent. Ripple is gaining a lot of appreciation from the banking industry and the South Asian Director of Ripple Navin Gupta said that Ripple has plans for further expansion in South Asia and the North African region. he pointed out that there are a lot of banks who are now working with Ripple for cross border payments:
“There is a very significant amount of movement from high street banks to join the network and we believe at different points in their lifecycle they will make this decision.”
The primary issue with the XRP token is that is a centralized one. A good chunk of controlled by Ripple itself and according to Chief Market Strategist Cory Johnson, Ripple’s XRP can’t be sold at any time since there is a cryptographic lock that still needs to be proven.
However, the high community support and technical advances such as xRapid are what boosts Ripple further and make it a very favorable choice. It still needs to find a way to ensure and prove the cryptographic lock so we are expecting more about that soon.
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