Ripple's SVP believes that small US businesses signed onto RippleNet - the umbrella term for the firm's several payment networks - would especially benefit from banking with PNC as a result of the new integration.
If and when that happens, the value of XRP should improve.
Support needs to hold if Ripple (XRP) is to make further gains. As Christine Masters said in her piece detailing the price correction, Ripple's announcement of xRapid-its low-priced liquidity solution for banks that uses XRP-may not have had a strong effect on the price. The process will require a pre-funded local currency account for this to take place.
[xRapid] allows payment providers, banks and their customers to move value in one to two minutes versus days or a process that might mask those days but have to charge for the settlement risk and costs.
While XRP scored around 20% in a single day several days ago with the announcement regarding the efforts of the foundation to increase the adoption of XRP through offering xRapid to financial institutions and banks, which seems to be already working in the favor of XRP in the market.More news: Tusk says UK Brexit plan ‘won’t work’
In a press release last month, Ripple announced three more cryptocurrency exchange partners. Yesterday, we said the drop was coming, though we'd be lying if we said we expected it to come nearly immediately after we published the article. Stellar's current price of $0.255 comprises a daily gain of 18.5%, however, similar to XRP, the markets XLM market produced a parabolic spike of 30% on the intraday charts before retracing to current price levels. Among which is Santander and American Express. Ripple is also considering entering the Chinese market.
Ripple's xCurrent is used by banks to settle worldwide transactions and is used to confirm each stage of a cross-border payment in real-time, according to the company. However, Ripple then answered that the sample was quite small to see a difference. As Brad Garlinhouse the chief executive officer (CEO) of Ripple said last March: "We were, from the beginning, really looking at how we work with governments, how we work with banks".
Despite a slight slide ETH's ranking by market cap, ETH also produced bullish price action today gaining by over 10% in the 24 hours from $210 to now be trading above $230 after breaking the descending trend line that has guided Dollars price action since May. Though the majority of the crypto market is in correction mode, a few prominent coins are in the greens viz. Steem, Zcash, IOST, and Dogecoin among others. On Friday, the third-most valuable altcoin reached a high of $0.70, according to CoinMarketCap.
Stellar's performance this year on the crypto market also hasn't been anything good to write home about.
Birla said it is "exciting" to see Ripple's efforts begin to be be implemented, particularly in emerging and under-served markets.