Categories: Altcoin News

Analyzing XRP Bulls: 50,000 TPS Confirmed while Japan High on XRP

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As Ripple Website gets overhauled, XRP’s fast speed and scalability get into the focus yet again. Meanwhile, XRP is seeing a lot of action in Japan which along with upcoming xRapid launch and Swell has the XRP community excited and expecting it to cross $1.

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Ripple website gets overhauled XRP’s big game

Not long back, the logo of XRP has been changed. Now, the entire Ripple website has been revamped. Out of a number of changes, the biggest one is RippleNet comprising a drop down of global payments, on-demand liquidity, and join the network.

Giving XRP, the digital asset for payments to the center stage, it explains how XRP provides banks and payment processors, faster settlements at low cost.

The world’s 3rd largest cryptocurrency is certainly fast as in comparison to the traditional system that takes 3 to 5 days and Bitcoin with more than an hour, XRP takes only 4 seconds to settle payments.

Payment Settlement Time, Source: Ripple

Moreover, when it comes to scalability, it mentions, “XRP consistently handles 1,500 transactions per second, 24×7, and can scale to handle the same throughput as Visa.” Also, it has been covered that XRP has a “Throughput capacity over 50,000 transactions/second.”

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However, a member in the XRP chat room did share in part,

“50,000 tx/s has been touted before. However, that number is produced when using already established high-frequency payment channels.”

TPS of Top 3 Cryptos, Source: Ripple

Also, read: XRP Leading the Altcoin Slump while Expert Predicts a Bullish Scenario

XRP bulls, demand in Japan takes a hike & moving ahead

In the meantime, SBI Ripple Asia has been successfully registered as the licensed electronic payments agent with the Kantou Bureau of Japan’s Ministry of Finance. The consortium has already got about 60 Japanese banks that will begin to use Ripple technology for cross-border payments.

Also, the MoneyTap, a blockchain-based settlement app has gotten one step forward to its launch. Reportedly, MoneyTap has received the regulatory clearance from the Japanese Ministry of Finance. This will only further facilitate the growth of Ripple and in turn XRP.

Moreover, the CEO of Wirex, Pavel Matveev Tweeted a video stating, “At an ATM in #Japan – Converting #XRP to #cash in seconds.”

Back in July Wirex added XRP to its crypto Visa card that supports over 50 cryptos is available for the users in European Economic Area (EEA).

These events will surely take the XRP price higher. At the time of writing, it has been trading at $0.523 with over 2% gains. As shown in the chart below, the latter part of this month has been a progressive one for its prices.

XRP price 1-month, Source: TradingView

XRP investors and enthusiasts are extremely excited as one shared, “The excitement is overwhelming. Whatever happens in the next month will be incredible.”

“XRP will be $1+ after Swell. This is where “buy the rumor sell the news” won’t work – the news is too damned good,” commented another enthusiast. With xRapid to launch soon and Swell just around the corner, good things are ahead for XRP.

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

Achal Arya

I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. follow me on Twitter at @arya_achal or reach out to me at achal[at]coingape.com.

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