- Ripple's Expansion of Bank Partnerships
- XRPL Growth and Market Fluctuations
- Impact of Stablecoins and Transactions
Ripple has announced significant progress in its banking partnerships, confirming that major financial institutions across many countries are now part of its payment network.
Ripple's Expansion of Bank Partnerships
As discussed earlier in the 'XRP Goes Global' topic on CNF, research revealed institutional use across all seven continents. This development highlights Ripple’s growing integration into the global financial system, with notable banks such as the Agricultural Bank of China, Bank of Beijing, and Standard Chartered Bank being part of the updated partner list.
XRPL Growth and Market Fluctuations
According to data from XRPL addresses, the XRP Ledger (XRPL) shows strong performance, with 60.8 billion XRP tokens reflecting substantial engagement. The network has closed over 90 million ledgers, indicating robust operation since its launch. As of today, Ripple (XRP) is trading at $0.5685, having decreased by 4.24% in the past day and 4.53% in the past week.
Impact of Stablecoins and Transactions
Moreover, 39.1 billion XRP held in escrow emphasize the liquidity available for on-chain transactions and smart contracts. The upcoming launch of the RLUSD stablecoin on the XRPL, which is also being minted on Ethereum, is expected to further enhance the network’s capabilities. However, a recent transfer of 26.69 million XRP from an unknown wallet to Bitstamp, valued at $15.49 million, could indicate potential selling pressure or strategic liquidity adjustments.
The growth of Ripple's bank partnerships and the advances of XRPL highlight the company’s significant role in the global financial system.
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