XRP's Return Seems To Be Slowing Down

Published 5 years ago on October 12, 2018

Yesterday, October 11th 2018, you may have heard of a little bit of a crash that occurred in the markets, seeing Bitcoin significantly dropping below the $6,500 mark. The third biggest digital currency saw a big change too as it moved from $0.4622 to $0.3781 in only one day. Today, the trading showcasing buyers stepping in to get their hands on the cheaper token after the sell-off. After the resulting general market sentiments being in the red, sellers have had their say and XRP and the US dollar met a hurdle to overcome the $0.4400 mark the markets are certainly disrupted. However, with the huge change that occurred yesterday in the markets, expecting a recovery soon could be a pipe dream. The Interledger project has set an objective for itself which allows users to receive money from any ledger without the work of creating an account on several different wallets. Interledger aims to connect all the famous blockchains (including XRP, Bitcoin and Ethereum) in order make it possible for a user to send and receive funds between them without the need of different addresses or crypto conversions. According to Ethereum World News, they reported:

“A Connector is a system that provides the service of forwarding Interledger packets towards the destination provided in the packet. Packets are forwarded across connections (called accounts) between senders, connectors and receivers.

Interledger packets describe amounts of money, which may be settled individually or in aggregate through various kinds of external payment systems collectively referred to as ledgers. – Concept of the Connectors.”

The banking giant, Santander, partnered with Santander recently announced the expansion of its Ripple OnePayFX Platform for other European countries. The banking giant also intends to use Ripple ledger for all its payment settlements when looking into the future.The Head of Innovation over at Santander, Ed Metzger spoke on the matter saying:

“We believe that financial services are moving to a world of open platforms where companies collaborate to deliver excellent customer service for their customers, and that’s at the core of what we’re doing with OnePay FX.”

The team at Ripple will be part of the upcoming conference for SWIFT, Sibos, which will be held from 22nd October to 25th October and they will start showing off RippleNet. What are your thoughts? Let us know what you think down in the comments below!

Investment Disclaimer

Robert Johnson

Robert first came across Bitcoin in 2016 during a meetup in Belgium, and has been hooked ever since. With a background in Economics, you can find Robert frequently looking at the Twitter feed of the SEC for any regulatory updates relating to Bitcoin and Crypto in general.