Ripple’s xRapid Might Reportedly Be Powering A Surge In XRP’s Volume
It has just been reported that the whale watchers said that three crypto exchanges might have powered up Ripple’s xRapid which uses XRP.
The amount of XRP that’s moving between Bitstamp and Coins.ph which are two of Ripple’s partners has surged in the past few days according to The Daily Hodl.
An XRP Ledger sleuth who is known as BehindtheLedger is reportedly tracking the size and number of transfers which seems to have begun surging on March 25th.
What’s interesting is that at the same time the XRP volume at the Mexican crypto exchange Bitso has also surged during the past days.
More than that, Bitso is adopting Ripple’s xRapid, and an increasing amount of the exchange’s XRP/Mexican peso has an impact on the data aggregator CoinMarketCap, the online publication reports.
It also seems that BehindtheLedger also follows hundreds of transfers between Bitstamp and Bitso and the size of each one of the XRP transfers reaches about $1,000.
Ripple teamed up with four crypto exchanges to act as bridges that are able to execute XRP transactions via xRapid.
Ripple is strongly promoting the adoption of its products
Ripple has been working hard in order to promote the adoption of its products, and this adoption has been increasing lately especially for xRapid and xCurrent.
XRP powers xRapid and the digital asset has also been enjoying increased popularity with the help of new listings this year.
The most important one is without a doubt the listing of XRP on Coinbase.
The whole crypto space has been making a lot of significant moves towards the mass adoption of crypto and 2019 is expected to be the year in which this considerable goal becomes a reality.
After the bearish 2018, more crypto analysts have said that this year will be a better year for crypto and the blockchain technology in terms of adoption as well.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.