Investors Feel Positive As XRP Sees Impressive Uptick In Trading Volumes

XRP, which holds the rank for sixth-biggest cryptocurrency, has had a great past week. The leading blockchain company’s native cryptocurrency saw an impeccable price rally and a huge uptick in XRP trading volumes. Hence, investors are feeling optimistic about the altcoin. Towards the end of September, its 24-hour trading volume saw a one-year high of $7.80 billion. The last time it hit such a high was a year ago in September.

Since its conception, Ripple has focused on capitalizing on the demand for seamless transactions across borders. Similarly, it has emphasized the untapped potential in developing economies. That’s because countries in Latin America are more likely to understand the benefits of blockchain compared to first-world countries.

Ripple’s XRP Rides Bullish Wave for the Month of September

Moreover, XRP prices climbed throughout the month, reaching a value of $0.5518. As the coin experienced particularly bullish conditions this month, its price reached a four-month high. According to data by CoinMarketCap, XRP saw consistent trading volumes for the latter part of September. This recurrent and balanced consistency is popular among investors, who prefer stable altcoins for their portfolio.

One of the major reasons investors are leaning towards XRP is the SEC lawsuit against Ripple that’s finally coming to a close. According to analysts, it’s likely that the court will rule in Ripple’s favor. Such predictions have got crypto enthusiasts excited for an upcoming victory against harsh regulation.

Ripple Attracts More Corporate Ventures

Aside from Ripple’s potential legal victory, it’s seeing some impressive growth on the corporate side as well. This includes the Ripple-Bitso which will introduce a digital payment solution in Argentina. It will allow users to choose between cryptocurrencies and fiat currencies to make payments. Choosing cryptocurrencies gives them the benefit of free transactions. So if they decide to spend crypto coins, the application converts them into local currency automatically.

Additionally, Ripple is expanding its partnership with I-Remit. Making the announcement on September 21, they stated that I-Remit, the non-bank remittance service will start improving cross-border treasury flows using Ripple’s ODL solution.

Santander Group, Tokyo-Mitsubishi Bank, and Other Ripple Milestones

Reflecting on Ripple’s milestones so far, collaborations like the ones with conglomerates Santander Group and the Tokyo-Mitsubishi Bank boosted the company’s credibility in the crypto sphere. In partnership with Santander Group, Ripple made headlines for developing an application that allows seamless cross-border transactions. In 2017, the Bank of Tokyo-Mitsubishi joined Ripple’s interbank group. The partnership allows international payments using distributed financial technology.

With its impressive track record, Ripple tops the charts as the leading blockchain firm serving financial companies across the world. And as these partnerships increase, XRP will benefit with a higher trading volume. As it’s the main currency for global transactions via RippleNet, there’s bound to see a rise in rates of XRP adoption.