The parent company of XRP (XRP) – Ripple Labs – has an important goal for the digital currency. The main purpose of the San Francisco-based blockchain startup is for XRP to receive regular recognition and acceptance. Ripple has worked on this goal in recent years. The startup has also released some products, such as xRapid, to increase the usefulness of XRP.
Ripple recently reached an important milestone because it managed to get XRP to be listed on Huobi’s over-the-counter (OTC) trading platform. XRP (XRP) is now available for trading on the trading platform alongside Tether (USDT), Ethereum (ETH), Bitcoin (BTC) and Huobi Token. Huobi is the 8th largest platform for trading digital currencies in the world. Adding XRP to the OTC trading desk of the platform is a big win for both XRP and Ripple. XRP Price today – XRP / USD
xRapid solution for OTC trading platforms will increase the usefulness of XRP
XRP fans suggest the use of xRapid – one of Ripple’s products that use XRP for cross-border payments – in over-the-counter trading platforms. The solution that XRapid offers can completely get rid of delays in international transactions with large volumes. Moreover, it can drastically reduce the costs of transactions. When it comes to OTC applications, xRapid makes high-volume transactions quickly and cheaply.
The price, as well as the approval of XRP (XRP), would benefit enormously from the use of Ripple’s xRapid in OTC trading platforms. XRP will not be the only beneficiary. OTC desks will also benefit from the liquidity features of xRapid and they will get that pool of extra money they need for massive transactions. Many digital currency trading platforms are increasingly adding office knowledge services to their services. This would also attract many institutional investors who need large volumes.
Open more exchanges OTC Trading Desk
Some top platforms for digital currency trading are already included in this train. Bittrex and Binance – the world’s most dominant platform for digital currency trading – already have their counters. Bithumb, a South Korean-based platform for trading in digital currencies, has just opened an umbrella trading counter.
According to some analysts, OTC trading is one of the biggest influences on the price of Bitcoin (BTC). Nevertheless, this is usually ignored because most of the data is based on trade-related data from digital currency trading platforms. However, OTC trading is not done on a stock exchange. It is a peer-to-peer process or a trading platform supported by brokers. Therefore, OTC data is not part of the global trade volume call. Nevertheless, it is immense. For example, in March Ripple had an XRP sale worth $ 19 million to an unknown third party.
The use of xRapid in OTC exchanges will significantly increase the price of XRP. At the time of the press, XRP (XRP) is the only digital currency in the top ten currently trading in green. The price of XRP is $ 0.3947 at the time of writing after an increase of about three percent in the last twenty-four hours. The digital currency is currently supported by the 39-cent figure. On the positive side, the direct hurdle of the medal is at the level of 41 cents.