According to XRPL Monitor service, a transfer of 20,000,000 XRP, around $ 4.34 million just completed in XRP network. The transaction made between BitBank internal accounts in just 4 seconds, while the fee was only 0.45 XRP or about 9 cents.
Transaction Type: Payment
Amount: 20,000,000 XRP
Fee: 450,000 drops (0.45 XRP)
Sender Balance: 1,152,706,165.55286
Receiver Balance: 38,586,655.186488
— XRPL Monitor (@XRPL_Monitor) July 27, 2020
Note, that XRP transfer is one of the cheapest and fastest way to send funds in the Ripple ecosystem and the cryptocurrency space in general. In the future, it may come to the fact that to save time and money, XRP will not be converted by users to other currencies and simply be used as a means of payment.
If banks and users stop exchanging the token for fiat money and start using the Ripple token directly, the value of XRP will rise. However, for this, the token must combat excess volatility and become more stable. This is the reason why Ripple is not growing to the level it could have achieved. Some banks are not ready to deal with tokens, the value of which can change so dramatically. To combat these risks, the company began a partnership with BitGo. This should help strengthen Ripple in the banking environment in the future.
New E-commerce Platform For XRP Payments
Note that on Saturday, Craig DeWitt, director of product for cryptocurrency startup Ripple, launched a beta version of Payburner, a payment platform that allows users to accept and send payments in XRP.
Check out the new browser extension! https://t.co/fcxgEppF1j
— Craig DeWitt (@CryptoCwby) July 25, 2020
Payburner is a non-custodial wallet that allows users to make peer-to-peer (P2P) payments directly to an XRP address or through the PayID payment service. The latter was launched by Ripple specialists late last month.
Users can make transactions between platforms from among the service’s partners thanks to PayID.
Is It Worth To Buy Ripple (XRP) Token?
If you are thinking about investing in the Ripple project, then this is probably a good way to make a profit when it comes to a long-term investment of several years.
Ripple token has several benefits:
- High speed of transactions. Ripple demonstrates the capacity that none of the best cryptocurrencies can offer.
- Low cost of transactions. The mandatory fee for transferring funds is only 0.00001 XRP.
- Positive impact on the banking system. This project can be a big step from the traditional banking system to the decentralization of the economy.
This project occupies a unique place in the market, because it is not a classic cryptocurrency on the blockchain, despite its decentralization. Moreover, the team of the project actively cooperates with various banks and financial institutions.
If you did not plan to wait so long and would like to make a profit in a few months, then such an investment can bring money, because the market is witnessing the growth in value of cryptocurrencies, and XRP is no exception.