Several months ago, back in September, when Ripple Labs announced the launching of xRapid as the only product from the Ripple Company that actually used XRP for sending remittance payments, XRP gained an increased momentum that led it over to collecting new gains.
Brad Garlinghouse followed the announcement on the launching of xRapid with stating that already by 2019 major banks will be using XRP and xRapid, while at the present the most commonly used product designed for frictionless payments is xCurrent.
The product doesn’t need XRP, so the crypto is not getting anything from the adoption of xCurrent across Ripple’s partner banks and financial institutions.
XRP (XRP) Price Today – XRP / USD
The market is most certainly experiencing crisis conditioned by strong and frequent market dips, however, XRP still managed to get to a more flattering ranking, now traded as the second-largest cryptocurrency in the market, which brought rises to XRP in the middle of the negative market trends.
However, XRP is still losing a great part of its value due to the effects of frequent negative market trends, where is presumed that the only valuable momentum for XRP can be provided through the adoption of xRapid.
Can XRP Get to More Significant Gains with xRapid Adoption?
XRapid product is already being used by 12 banks and financial institutions, however, 6 of these are only testing xRapid.
Out of over 120 Ripple Net partners, only 12 in total are using the product, which means that 10% of potential xRapid users has taken over testing or utilization of xRapid during the course of the three last months since it has been announced.
Garlinghouse hopes that major banks will be using Ripple’s xRapid in 2019, while this case should make an immense impact on the adoption of XRP as well.
XRP is currently struggling to get over the price of 0.30$, still declining against the fiat, which means that XRP could sink even below the initial price to touch a new low for 2018.
It seems that xRapid and XRP adoption is yet to take effects on the cryptos, as for now the only influence on XRP conditioned by the product was noted back with the announcement that xRapid will be used by Ripple partners.
Can Ripple Rise Above 0.50$ by the End of 2018 Even Without xRapid?
The state in the cryptocurrency market is being heavily hit by the frequent bear trends where barely any of the toppers is managing to acquire positive momentum against the fiat.
The same goes for XRP in the past couple of weeks, as despite the fact that XRP is recording 18% on YTD, the crypto lost over -40% value since the November dips started.
At this pace of growth, it is less likely that XRP will see any significant price improvements in the course of the next few weeks unless New Year hype hits the market in Black Friday style in the last days of December, which was also the case with the transition from 2017 to 2018.
As far as xRapid concerned, XRP is less likely to feel the positive effects of a slowly adopted product before the end of 2019, depending on what Ripple Labs will do next.