XRP price jumps after Ripple’s business liquidity hub launch – Crypto News – Crypto News
Connect with us
XRP price jumps after Ripple's business liquidity hub launch XRP price jumps after Ripple's business liquidity hub launch

Cryptocurrency

XRP price jumps after Ripple’s business liquidity hub launch – Crypto News

Published

2 years ago

on

  • At press time, XRP is trading at $0.5281, up 3.53% in the last 24 hours.
  • The XRP price has been soaring in correlation with Bitcoin’s (BTC) price.
  • Ripple has today launched a business liquidity hub.

Today’s launch of the business liquidity hub by Ripple Labs has added impetus to the already bullish XRP price, Over the last 30 days, the XRP price has risen by more than 40%.

The splendid performance comes even as Ripple continues to defend itself in the ongoing case with the US SECwhich most believes is almost coming to a conclusion although no deadlines have been given by the court.

Ripple’s business liquidity hub

The newly launched business liquidity hub will allow businesses to access liquidity for digital assets from various cryptocurrency exchanges, over-the-counter (OTC) marketplaces, and market makers across the world. The hub will integrate different solutions to help businesses access and manage liquidity across the various platforms.

Business corporations will be able to leverage cryptocurrency liquidity and an expansive payout network to power treasury operations, payments, and other needs.

The liquidity hub, which had been in pilot test since last year, will seamlessly bridge the gap between crypto and fiat systems. It uses advanced technology to get the best crypto asset rates thus eliminating the need for pre-funded capital positions with multiple liquidity platforms. This helps businesses cut their tied-up capital thus allowing them to efficiently manage their resources.

The liquidity hub will be a round-the-clock service thus making digital assets transaction management flexible and fast while allowing businesses to effectively track their funds.

Cryptocurrencies available in the business liquidity hub

Interestingly, the business liquidity hub does not currently support the XRP token. It supports five cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Ethereum Classic (ETC)and Bitcoin Cash (BCH),

The absence of Ripple (XRP) has sparked a fierce reaction from the Ripple community though many believe it is because of the ongoing case against the US SEC that argues that XRP is a security, not a cryptocurrency.

Share this article
Categories
Tags

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending