XRP has been widely adopted by many merchants across many countries worldwide at a very rapid rate.
The XRP/USD pair is expected to start an upward move as per the data from exchanges and analysts.
Ripple is breaking headlines with a regulatory approach towards countries that are planning to ban cryptocurrency
Global XRP Adoption Underway
The number of merchants who accept XRP is growing rapidly this year. As per the reports, the United States stands on top when it comes to merchants accepting XRP cryptocurrency.
The total number of merchants accepting XRP as payments have increased from 457 to 670. It marked an increase of about 46 percent in these seven months of the year 2020.
Among the surveys conducted by Cryptwerk, an online crypto merchant directory, 20 percent among the 46 percent are based in the US and UK, followed by India too.
As per the cryptanalysis tool, XRP is the sixth most popular coin among the merchants after Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Dash.
Will XRP Pair join the Altcoin season 2020 party?
As the Altcoin season is blooming this year, XRP is lagging just behind major coins restricting itself below $0.02. Currently, it has traded sideways with a growth of 0.15 percent to reach $0.1985.
Essentially, XRP is widely used to solve the liquidity issue that financial ecosystems have been facing with the transaction time less than or equal to seconds.
As reported by Coinpedia, Altcoins are going to have a bull run by the end of the year. The adoption of XRP might play a significant role in the XRP price in the coming days.
Ripple’s Blockchain Network Gaining Momentum
Ripple’s payment system, Ripple-net is now operational in the US and 22 other geographical locations. Unlike bitcoin which was a very fussy payment system, Ripple’s user-friendly payment system gained the attention of many banks across the world.
Recently, Ripple’s XRP framed a policy for regulating digital assets in India. The policy is focused on the adoption of new digital assets and blockchain technology.
As per the official of Ripple, the Indian incumbents are slow, but when provided with a strong reason to move, they can get live on Ripple within 6 weeks.
Conclusively, merchants all over the world are adopting XRP as their payment system rapidly. It’s probably due to the simple and secure payment network of Ripple. Hence more adoption of XRP in the coming days is expected with a surge in the XRP price.