XRP reaches wider coverage with the recent listing on another crypto exchange platform, Cobinhood. This came as a great news to investors and lovers of the digital token, whose interest were spurred.
Ripple’s XRP is the third largest cryptocurrency by market capitalization behind bitcoin and ethereum, though not mined like other digital currencies because it is owned by one company. It has triggered a lot of interests, in the crypto market, and obviously heading to take over the bitcoin.
In a Recent interview, Ripple CEO, Brad Garlinghouse said XRP is a thousand times cheaper and faster than bitcoin transactions.
”We use a digital asset called XRP as part of that flow and we use XRP because it’s a thousand times faster than bitcoin transactions and a thousand times cheaper than a bitcoin transaction. We think that the utility of XRP is such that it’s the most efficient digital asset to solve this problem on cross-border payments. So, Ripple, the company is really building on top of this open-sourced eco-system that I call the XRP eco-system, and Ripple’s building vertically on top of that – as a payments company.”
Ripple portrays an image of an aggressive, target driven set up. Its focus is on pushing their token as far high as it can reach, by improving the utility derived from its uses. This, they have demonstrated by creating a liquidity tool called X rapid, among others.
According to Ripple CEO, this tool enables financial institutions to save up to 70% compared to other existing tools in managing and spreading liquidity. Its expected acceptance is high because it has been introduced to major banks.
The current listing is on the Cobinhood exchange, a crypto service platform known to charge zero fees on transactions. Following this listing, investors can deposit, trade and withdraw XRP on this exchange platform. This is yet another aggressive move to increase XRP token utility level.
Considering the recent happening in XRP, its incorporation by banks on RippleNet and introduction of blockchain based products like xCurrent, xPring and xRapid, and current listing on Cobinhood. It is justified to say the bulls are unleashed.
According to Mr. Garlinghouse’s forecast, the bullish trend may likely favor XRP. It will happen that, when the utility of XRP increases,its demand will surely increase, and no other digital currency may be able to stand in its way.