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Remittance payments on ripple blowup, could this fuel XRP further?

Remittance payments on ripple blowup, could this fuel XRP further?
  • The XRP blockchain has seen some significant activity over the past day in which almost 180,000,000 tokens were transferred. 
  • Despite the massive number, the big proportion of this huge volume is down to only several dozen transactions. 
  • Looking at the evidence, it shows that the company featured quite heavily on many of these transactions.

The XRP blockchain has seen some significant activity over this week in which almost 180,000,000 tokens were transferred. Despite the massive number, the big proportion of this huge volume is down to only several dozen transactions. Looking at the evidence, it shows that the company featured quite heavily on many of these transactions.

The quick rise in these XRP volumes was mainly down to an increase in remittances conducted on the blockchain. One crypto analyst, Galgitron shared a chart as can be seen below. It shows the huge volume of remittance payments on the day.

One of the most popular products from ripple, RippleNet uses on-demand liquidity payment technology in order to conduct real-time cross-border funds in transfers. The platform uses the XRP talking in order to facilitate such transactions in not only a fast but a cost-effective one as well.

One of the more prominent collaborations that the San Francisco firm has is with MoneyGram. MoneyGram uses the platform for its on-demand liquidity payments and as such, speculation was at its height when the surgeon in XRP payments was primarily driven by the company and its instant global settlements.

It will be interesting to see how this plays out. For more news on this, The XRP price and other crypto updates, keep it with CryptoDaily!

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