Connect with us

Hi, what are you looking for?

ELEVENEWS

Cryptocurrencies

Cryptocurrency News Today – Headlines for June 15

  • Ripple chief takes stand to tackle extreme inflation
  • Investors have been concerned about why XRP’s price isn’t improving
  • Brad Garlinghouse also tweeted against racism

Cryptocurrency News Today – Ripple’s XRP token has been hailed as a wonderful product. However, several investors have been breaking their heads over the issues surrounding the digital asset. Most of them are concerned about why XRP isn’t widely used. They are also worried about why the coins’ price isn’t getting better.

The issue of extreme inflation too is another focus. No wonder the CEO of Ripple, the company behind the XRP token, Brad Garlinghouse has talked about how the issue of extreme inflation can be tackled. Garlinghouse claims that diversification into other assets as well as cryptocurrency could be the key to stabilizing the financial markets in the future.

XRP is Still a Major Player in the Remittance and SME Payments Ecosystem

Ripple has continued to stay their course when it comes to remittances and SME payments. Garlinghouse expressed that this is the time for financial institutions to use Ripple’s On-demand liquidity product from RippleNet to offer instant global payments. Garlinghouse claims that entities need the solution to meet the growing market demand for such services.

Since Ripple’s XRP can be transferred instantly it has become a cost-effective tool with no need for an intermediary (hence, removing the additional costs that can accumulate when sending payments). This makes Ripples’ solution an excellent alternative to pre-funding. The greater the liquidity of XRP, the lesser the cost and risk involved. According to cryptocurrency expert, Sydney Ifergan via a tweet:

Ripple ODL facilities are widely considered by more enterprises across the globe because it eliminates pre-funding.”

Ripple Can Rival Visa and MasterCard in Remittances

Some investors believe this is the time for big shots in the financial sphere like Paypal, Uber, and Amazon to join the ecosystem. Some see Ripple as the real rival of Visa, and Mastercard to name a few. Recall that Garlinghouse has once tweeted:

We can’t stop shining on the deep-rooted racism that the destroyed Ahmaud Arbery, George Floyd, Breonna Taylor, and countless others. If you remain neutral in such situations of injustice, you may have chosen to stay on the oppressor’s side.”

After focusing on philanthropy in recent weeks, it now looks like Garlinghouse is checking the business pages. We can’t possibly know how many people will turn their USD to XRP or any other cryptocurrency, but the monetary system will continue to evolve on the wrong side. Although XRP doesn’t represent digital gold, the asset represents digital speed and cheaper transfer fees. Ripple doesn’t print XRP like the Fed prints USD. XRP will undisputedly ensure global liquidity.

Advertisement

Copyright © 2020 Elevenews