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Ripple bullish rally expectations after launch of xCurrent 4.0

Maya Mandz | May. 9, 2019
Ripple bullish rally expectations after launch of xCurrent 4.0

May 9, 2019, | AtoZ Markets - David Schwartz announced in his Twitter, that their platform for cross-border payments xCurrent 4.0. is live now. Will Ripple’s CTO announcement change the Ripple’s image on the market and how reasonable are Ripple bullish rally expectations?

xCurrent 4.0 and xRapid purpose- boost XPR adoption?

In September 2018, Ripple’s team announced, that their most popular offering, xCurrent is getting an upgrade to version 4.0 and will feature integration with xRapid.

xRapid is another Ripple’s product. It serves for payment providers and financial institutions seeking to eliminate the delays that occur in cross-border payments and reduce costs. This Ripple’s solution connects financial institutions directly to digital asset exchanges in both the originating and destination corridors.

Back then, Ripple’s team assured the community, that xCurrent new version’s integration with xRapid would give customers the ability to complete cross-border transactions in milliseconds, with the on-demand liquidity provided by the xRapid technology.

In October 2018, Ripple announced that 3 companies were already using xRapid for commercial payments. Early reports from the companies indicated that xRapid was lowering costs for them and improving settlement times.

After its release, xRapid integration was closely observed by the crypto community that hoped that the new product might boost XPR adoption. This time, xCurrent 4.0 implementation might play the same role.

Ripple’s xCurrent 4.0 new features in a brief

Ripple offers the blockchain powered cross-border payments solutions to banks and other institutions. The blockchain company currently has more than 200 clients who are using its services. While speaking about new Ripple’s xCurrent version launch, the company’s CTO David Schwartz said in his Tweeter: “We're working to get all customers upgraded, but it's a complex process. Multihop, xRapid support, much easier peering, and a much easier customer integration process are the major new features.”

Ripple’s team noted, that xCurrent 4.0 version’s integration will enable their partners to settle cross border payments in a faster, more secure, and cheaper way.

The enterprise-focused solution will allow for end-to-end tracking of the transactions. It will also enable banks to discuss the transaction details in real-time before the transaction is initiated and confirm transactions directly through Messenger, a component of the xCurrent.

Despite the boosting enthusiasm about new Ripple’s solution, the community on Twitter expressed concerns about the future mechanism of xCurrent. Ripple’s CTO David Schwartz replied that it would be slightly painful due to its architectural differences from the previous version and it would require changes to customer middleware. In one of his tweets, Schwartz said: “We are learning a lot about maintaining enterprise software for FIs (financial institutions) and keep working hard to improve our processes,

Ripple bullish rally predictions

Ripple is considered as one of the least stable cryptos on the cryptomarket. The lowest point of Ripple was on January 29th at 0.28 USD and the highest value was achieved on April 04th at 0.36 USD. Last week, price XPR rallied to 33 cents to complete a 17% gain from the 28.5 cents low.

While remaining the 3rd largest crypto coin in the global crypto market with respect to its market cap, Ripple (XRP) has dropped to its lowest price in 2019.

While Bitcoin climbs with an impulse wave pattern in view, Ripple goes nowhere with a clear bearish sideways pattern in view. Since last price update, XRP rallied to 33 cents and dropped back to 31 cents. The triangle has now extended by another week.

Current Ripple position on the crypto market at the time of publication

  • The ROI (Return on Investment) of Ripple (XRP) stands at whopping 4996.99%
  • A total of 42,133,310,721 XRP are currently in circulation.
  • The current market cap as on 09th May stands at $12,614,250,669 USD.
  • The value of each coin stands at $0.299389 USD
  • The 24h Volume rests at $854,618,857 USD at the same UTC.

The Ripple’s community expects XPR to skyrocket on the market due to the xCurrent 4.0 version’s announcement. Experts believe that such a boost in the trading value of Ripple is possible. They predict the Ripple coin to move upwards in the next few months until the end of this quarter. The coin will face the 1st resistance at 0.32 USD and 0.34 USD level. And by the end of the next quarter, the value should be around 0.35 USD or even more. According to reports, Ripple will reach 5 USD by the end of 2019.

Think we missed something? Let us know in the comments section below.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.