There are many different cryptocurrencies, tokens, and assets. Not all of these markets move in the same direction, as their use cases tend to differ. Ripple’s XRP, for example, is often considered to be undervalued, but is it really?
High XRP Ledger Payment Volume
If the statistics provided by XRPCharts are to be believed, there is plenty of payment volume on the XRP Ledger. With over $104 million in daily volume, there is no lack of activity whatsoever. This has nothing to do with exchange volume and so forth. It only represents actual volume on the XRP Ledger.
Speaking of which, there is also a statistic on the XRP Ledger’s trading volume. That sits at just over $2 million for all pairs, which seems rather low. Then again, it is the weekend, and these statistics may look very different in a day or two. The pairs tracked include USD. EUR, CNY, Ethereum, and so forth.
Over the years, Ripple has established a growing network of partners. Names include a lot of banks across Asia, as well as remittance providers such as MoneyGram. In more recent times, FXCoin announced it would leverage XRP for a global cash management system. An ambitious goal, albeit one that has some potential.
For the Japanese exchange, exploring this option may prove worthwhile. Using XRP can provide some benefits to speed up transactions and potentially reduce the overall fees in the process. There is also some talk about potentially using this asset for international remittances.
P2P Payments With Payburner and XRP
Big was people’s surprise when Craig DeWitt announced a new solution based on XRP. Known as Payburner, it acts as a non-custodial payments platform. It can be tested through a browser extension, although it is still in beta testing. Through this platform, users can make PayID payments, request payments, and use encrypted peer-to-peer messaging.
Perhaps the most intriguing feature is how Payburner provides a merchant solution. Albeit XRP is not necessarily an e-commerce tool of any kind, it can certainly be used as a payment option. In terms of expanding the number of stores accepting XRP payments, solutions like these can make an impact in the months to come.
The Survey Says so
A survey conducted by Fiatleak indicated how, according to the community, XRP is the most undervalued asset. Although it only went up against VeChain, Kyber Network, and ChainLink, the overall response was very clear. Voters still seem convinced this asset can be a game changer in traditional finance at some point in the future.
— fiatleak (@fiatleak) July 13, 2020
Despite the results, it is not an official indicator by any means. It is interesting to see so much sentiment toward Ripple’s asset, but it should be taken with a grain of salt. Twitter polls are often “gamed” in one way or another, especially when it comes to gauging the popularity of crypto assets.
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