XRP Takes Back 7th Place in Crypto Market as More Payment Firms Onboard RippleNet


XRP now ranks ahead of Terra (LUNA), Cardano (ADA) and Avalanche (AVAX)

According to data from CoinMarketCap, XRP currently ranks seventh in terms of market capitalization. With a current market valuation of $37.46 billion, XRP now ranks ahead of Terra (LUNA), Cardano (ADA), and Avalanche (AVAX). The majority of cryptocurrencies have fallen over the past 24 hours, wiping out daily and weekly gains. XRP is trading at $0.77 at press time after falling to $0.75 earlier.

More payment providers are leveraging Ripple with the uptake of RippleNet’s On-Demand Liquidity (ODL) service in the APAC and MENA region surging in response to increased demand for quick settlements and immediate access to funds.

APAC is said to be one of the fastest growing regions for RippleNet, where transactions have increased by 130% year over year. In recent years, APAC (Asia-Pacific) has risen to the top of the digital banking industry, accounting for 20% of the approximately 250 digital banks globally.

As previously covered by U.Today, iRemit, a non-bank remittance service provider that leverages Ripple’s ODL to process Australia-to-Philippines remittances, has announced a partnership with Velo labs to unlock the $34 billion cross-border payment market in the Philippines.

Last year, Novatti Group announced its joining Ripple’s global payment network to operate RippleNet’s On-Demand Liquidity (ODL) service, leveraging the digital asset, XRP, for cross-border payments.

Ripple and Novatti’s efforts targeted first the Australia-Philippines corridor through a partnership with iRemit, the largest Filipino-owned non-bank remittance service provider.

Ripple also announced a partnership with Invert to support carbon reduction and removal projects and help fight climate change. Working together, Ripple and Invert will review and accelerate the deployment of capital to build a broader portfolio of credit-generating projects.

Updates in the Ripple case

In updates posted by Defense lawyer James K. Filan, the SEC has filed an amended declaration from Valerie Szczepanik regarding a meeting she attended with Coin Center. The original declaration said the meeting was on June 20, 2018, and the amended declaration corrects the date to June 20, 2017.

This statement still pertains to the SEC’s proposed redactions to notes of meetings that SEC employees had with third parties. Magistrate Judge Sarah Netburn had ordered the United States Securities and Exchange Commission to submit all of her drafting suggestions for review behind closed doors. The SEC is expected to file them by April 8.


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