According to a press release published by the SMART VALOR crypto exchange, a Swiss company has added XRP to its trading platform. To date, the traders can use the token in tandem with the US dollar, Euro, Swiss franc, and Pound Sterling.
— SMART VALOR (@smartvalorinc) January 31, 2020
The choice of the trading service stopped at XRP due to the cryptocurrency rank based on market capitalization, according to the Coinmarketcap rating. Besides, transactions with Ripple’s cryptocurrency are made at very low fees and with instant coin transfer.
Note, that transactions in the traditional banking sector are processed within a few days. Thus, XRP uniquely scales among modern digital assets.
Because XRP trades with many currencies and with low fees, it is often cheaper to use the token to buy Mexican peso or the Japanese yen than it would be to exchange the Mexican peso directly for Japanese yen through traditional banking systems. The existing payment channel charges large fees for these conversions. This use case is especially important for small commercial banks that cannot afford to maintain access to a wide range of currencies.
Given the growing institutional interest in using digital assets to break global barriers to currency swaps and payments, XRP will be a coin to view for future developments and it will act as an addition to the SMART VALOR services.
The Latest Achievements Of Ripple
Ripple keeps working on expanding its On-Demand Liquidity affiliate network (formerly called xRapid). In November 2019 alone, “more than twenty companies” joined it, including MoneyGram, goLance, and Viamericas. On-Demand Liquidity allows cross-border payments using XRP tokens.
For 2019, “the value of ODL transactions in US dollars has grown more than 100 times.” The number of transactions in the ODL network has also increased. It increased by 390% during 3 – 4Q 2019.
Recall, that Ripple reported a sharp decline in sales of XRP tokens during the fourth quarter of 2019. According to the quarterly report, XRP sales fell by more than 80%.
According to cryptocurrency data provider CryptoCompare, the average daily trading volume of XRP also decreased. In the fourth quarter of 2019, it amounted to $ 187.34 million. For comparison: in the third quarter of the same year, this indicator was at the level of $ 198.10 million, in the second quarter – at the level of $ 429.51 million.
Note that the company has been using CryptoCompare indices since June last year. Before that, Ripple worked with the data of the CoinMarketCap service, but for a more efficient accounting, the company decided to change the data provider.
The volatility of the XRP rate has also decreased. According to the report, the volatility of daily XRP was 3.1% in the fourth quarter. At the same time, this indicator was at a level of 3.6% in the third quarter. The yield volatility of XRP is comparable to the volatility of Bitcoin (3.0%) and Ethereum (3.1%).