Number of Giant Institutions Using XRP Announced in Ripple Ecosystem!

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Number of Giant Institutions Using XRP Announced in Ripple Ecosystem!

 Ripple manager Navin Gupta, around 350 financial institutions now use the payment technology of the San Francisco startup. So how does this development affect the XRP price?

Ripple manager: 350 financial institutions in the Ripple ecosystem!

A senior Ripple executive says that around 350 financial institutions are now using the payment technology of the San Francisco initiative. In an interview with international law firm Nishith Desai Associates, Navin Gupta, Managing Director of Ripple’s South Asia, Middle East and North Africa, announced the total of companies using Ripple technology.

Why XRP Price Is Not Rising  The answer is hidden in this detail

According to Navin Gupta, there are approximately 350 financial institutions that use the technology of the San Francisco-based payment company every day. Despite the economic impact of the Covid-19 outbreak, Ripple continued to add customers to its ecosystem. Navin Gupta has confirmed that about 13 of its customers use XRP crypto assets to power international remittance transactions.

Expert opinion: Ripple’s expansion could increase XRP price

Last November Ripple (XRP) ,  announced that nearly 300 customers using their payment systems to move money across borders. Roughly a year ago, the company stated that nearly 200 financial institutions joined RippleNet. The company aims to reach 400 customer base by the end of 2020.

Investors and Traders Worried: Will Hundreds of Ripple be Released on the Market?

Experts state that Ripple, which has expanded its network , will increase the mass adoption of XRP and thus increase the price with these developments. Ripple, the biggest cryptocurrency popular, is trading at $ 0.20 with minor price changes at the time of writing. The strong altcoin currently has a market value of $ 9 billion. Ripple manages a last 24-hour transaction volume of $ 1.1 billion at the time of writing.

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