Ripple's XRP had quite a forgetful year in terms of its market value where the largest altcoin failed to break above the psychological barrier of $0.30 throughout 2019. Even when the rest of the market made double digital gains on more than one occasion, XRP failed to ride on the bullish wave. However, despite the dismal performance, it has maintained its 3rd position to everyone's surprise.
XRP might not have had a great year in terms of the token price but it continued its partnership spree and also got a mention on the mainstream news broadcaster BBC. Ripple was mentioned during the BBC's Worklife show, a program dedicated to the latest update in the business world.
On the show, XRP was mentioned in the reference of traditional payment systems which are slow and costly. The presentation called XRP a viable solution for these sluggish traditional payment systems. Nathalie Oestmann, the COO at Curve said,
“Right now, if you are making a cross-border transaction, it is really time-consuming. Clearing and settlement take days,”
She started that Ripple can prove to be a better solution which can fix any existing issues with the current platforms and make cross-border transactions seamless. She explained,
“Ripple, who produces the XRP cryptocurrency token, is producing some commercial opportunities for companies to do a cross-border exchange, removing the multiple-day process and hangovers.”
Are cryptocurrencies stable enough to become a real-world payment method
Cryptocurrencies for sure are fast in terms of transaction speed and cost-effective low as well, however, at the same time they are highly volatile which makes it very complex to use it as a mode of payment without a fixed value.
Brad Garlinghouse, the CEO of Ripple feels otherwise as he claimed that Ripple is much more stable than SWIFT and transactions on that platform take 3-5 days while Ripple processes the same in a matter of few seconds.
The mention of cryptocurrencies on mainstream media platforms has become more common in the last year. Since a majority of the governments around the globe are either investing in blockchain or forming regulations for crypto use. There have been several appearances made by crypto personality on leading news media houses.