Despite Ripple’s (XRP) struggle to raise its price, which is currently $0,67, the company is taking steps to ameliorate the situation, reports Ethereum World News.
The site says that Ripple has managed to generate buzz. However, given that the currency’s price is still low, its developers used the Blockchain Week to ensure its enthusiasts that they will not be let down. Particularly, they demonstrated how XRP can be used in daily life by launching Xpring to provide support for startups who use Ripple as well as xRapid — a cross-border payment solution.
“It was showcased how the liquidity service delivers a very smooth user-end experience with the credit to its technology. Tech that allows secure and speedy exchanges to take place,” writes Ethereum World News.
This is what xRapid is about — extreme transaction speed. David Schwartz, Chief Cryptographer at Ripple, showed how he sent 100 USD into Mexican Pesos, roughly around 1975 Mexican Pesos or 149.8 XRP, in front of the audience. It took him two minutes to complete the operation.
During the presentation, Schwartz also addressed the issue of volatility saying that it should not be a big problem: “He explained how users of Ripple’s xRapid product are not obligated to by Ripple to use it. That not-existing condition equals to volatility possibly seizing to exist for Ripple at least. He also added that volatility is not a problem for XRP.”
The product has received positive reviews from the crypto outlets. Globalcoinreport, for instance, has emphasized that “Ripple is here to stay” pointing out the advantages of XRP transactions which “take mere seconds.”
Globalcoinreport is also high on the XRapid platform, saying that it “allows banks and other financial institutions to minimize costs and improve customer experience” while another Ripple solution xCurrent is “an instant settlement that can be tracked end to end.”