Ripple surprised many listeners at the Swell 2018 conference in San Francisco by announcing that the company’s cross-border payment solution xRapid that utilizes XRP is now commercially available. It will go into production with three different payment service providers. Furthermore, Brad Garlinghouse stated that XRP is 1,000 cheaper and 1,000 times faster than Bitcoin.
Ripple (XRP) price jumps
The value of XRP jumped after this announcement. It jumped from 0.54 USD to nearly 0.60 USD and then flattened off again. Ripple (XRP) is trading at 0.522 USD at press time. Garlinghouse also stated that XRP has established itself as the most efficient cryptocurrency in moving assets from one place to another.
The company’s focus is not on price
At the Swell conference, he reiterated that the price of XRP is unimportant to him. For him, the focus is clearly on how the technology can be used to solve problems worldwide.
“I really don’t think about the price performance. I do think about the technical performance. And I think about the fact that XRP is about 1,000 times faster than a Bitcoin transaction and about 1,000 times less expensive than a Bitcoin transaction.
XRP has demonstrated it is the most efficient digital asset to solve a payment problem. What I say internally at the company, very genuinely, is I don’t know how to think about the price of XRP over three days, three weeks or three months. I think about how do we build an incredibly successful product and solutions on top of this decentralized open-source technology to solve a customer problem.”
At the end of August, it was reported that more than $2 billion worth of XRP was moved in less than 10 minutes, with a transaction fee of less than a cent.
Ripple has already ousted Ethereum from a third place three times this month and has won the silver medal. Further developments will show whether Ripple can continue the positive momentum of recent weeks and whether this will have an impact on the price of XRP.