Ripple (XRP) the world’s third largest cryptocurrency seems to be returning to its 100% price surge that it experienced earlier this year as signs suggest the company may be getting wider adoption following announcement of strategies to push adoption for its foremost product xRapid.
The move to boost xRapid was announced in a a brochure containing information on xRathe product as a strategy to improve its adoption.
Concerning the strategy, Ripple’s Chief Market Strategist Cory Johnson said this in an interview with Cointelegraph:
“I expect our rollout would be…most will be xCurrent, a little bit will be xRapid, and even less will be xVia. Over time that might change, but initially the oldest stuff gets the most traction, because customers have had a chance to look at it the longest and get used to the idea more quickly.
“I think they’re going to those places where they’re ready for a change, but where does it have some actual use?” he added.
Also as part of efforts to improve adoption for the product, Ripple has announced its decision to partner with Viamericas, the largest company in the U.S that provides cross border payment services to 34 countries with many local banks in those countries.
The CEO of Viamericas spoke concerning the partnership saying:
“We believe that digital assets like XRP will play a key role in the future of cross-border payments, helping to safely address some of the structural inefficiencies of legacy settlement infrastructure.”
Cory Johnson also spoke on the acceptance XRP is enjoying in Mexico and the Philippines, a statement that has also attracted attention to the asset.
“Mexico and the Philippines – those are countries where there’s a lot of remittance payments going out of other countries and into Mexico, into Philippines. And there’s a lot of trade in XRP, so I think we’re gonna see a lot of adoption of our products in those countries; we’ve already seen that.”
xRapid is a cross border payment product invented by Ripple to be a leader in payments around the world. The product has enjoyed reasonable acceptance with three companies adopting it for payment immediately following its launch and more financial institutions considering working with it.
XRP has had quite a good time in the market with some sudden surges in the past. The asset may be seeing another surge in demand as a result of more use cases for the digital asset.