In the "Digital Assets and Blockchain Overview" report published by Goldman Sachs, one of the world's largest investment banks, described Ripple as an "opportunity in payments" together with peer-to-peer payment technology Circle and Coinbase.
The report highlights RippleNet, a network of corporate payment providers such as banks and money remittance services using solutions created by Ripple.
The growing interest of people in cryptocurrencies has led crypto assets to become more prominent in most industries. Especially the financial industry continues to work in the crypto money sector. Earlier, famous investor Warren Buffett, known for his anti-crypto, invested $ 1 billion in Bitcoin-linked Brazilian digital bank Nubank.
Increasing Interest in Blockchain-Based Payments
According to a recent Cornerstone Advisors survey by Ripple, 60% of consumers who already own crypto will use banks to invest in cryptocurrencies. Also, a PYMNTS.com report revealed that 78% of millennials and 82% of millennials are interested in crypto for contactless shopping.
Countries in Asia and the Pacific have also risen to the top of the world in offering instant payments using digital banking systems.
XRP price was around $0.876 at the time of writing, while the last 24-hour trading volume was $2,849,258,049. XRP price is up 4.5% in the last 24 hours. While there is a supply of 48 Billion XRP coins in circulation, there is a total supply of 100 Billion XRP coins. WhiteBIT is currently the most active market where Ripple (XRP) is traded.
Ripple is the generic name for the cryptocurrency platform whose transaction protocol is actually XRP, just as the platform that facilitates trading on Ethereum is named Ether. Like other cryptocurrencies, Ripple is built on the idea of a distributed ledger network that requires various parties to participate in verifying transactions, rather than any single central authority. This structure facilitates transactions all over the world and transfer fees are much cheaper than bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively instant and do not require a typical confirmation period.