While XRP’s market performance has been disappointing, there have been some positive developments around the crypto token. In its recent second-quarter market update, Ripple, the San Francisco-based company that developed the token, reported that it had seen a big increase in direct institutional sales, selling $106.87 million to institutions, compared to $61.93 million in the preceding quarter. The company also saw 170% quarter-on-quarter growth in xRapid transactions and a 30% increase in the number of live xRapid partners. XRapid is Ripple’s XRP-powered solution for cross-border payments.
Last week, the chief executive of MoneyGram, Alex Holmes, revealed that the company had started using xRapid, as part of a strategic partnership between the two companies.
In today’s trading, the XRP price stood at $0.311, as of 12:42 BST. The digital currency has lost 2.1% of its value in the past 24 hours. The coin’s total market capitalisation currently stands at $13.3 billion.
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The post XRP fails to defend $0.32 mark amid poor Tuesday trading appeared first on The Independent Republic.
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