Cryptocurrency in Focus: Ripple – TheStreet

The cryptocurrency Ripple (trading symbol: XRP) has seen its Fundamental Crypto Asset Score (FCAS) climb 2.8% over the past three weeks, driven by a 5.6% spike in our Developer Behavior criterion. Our User Activity measure also jumped 0.1%, but Ripple’s Market Maturity measure fell 1.6% and its price tumbled 15% over the same time period.

Let’s check XRP out:

A Two-Pronged Approach

Ripple is a growing force across the global financial landscape, establishing inroads to institutional finance while cultivating products in the cryptosphere.

Touted as a currency exchange, a Real-Time Gross Settlement system or (“RTGS”) and a remittance network, Ripple creator Ripple Labs Inc. has taken a two-pronged approach to boosting the cryptocurrency’s adoption:

  • xCurrent. This product, built on top of RippleNet, is a cross-border payments system that’s based on traditional currencies like the U.S. dollar. It’s been disrupting well-established solutions such as SWIFT — the Society for Worldwide Interbank Financial Telecommunication, a messaging network that facilitates international transfers of money and securities between more than 11,000 financial institutions around the globe.
  • xRapid. This product utilizes XRP directly for payment solutions. Users purchase Ripple using traditional currencies on one end of the transaction, then sell the cryptocurrency back for traditional currencies at the other. Ripple Labs has made it possible for xCurrent clients to integrate xRapid, making the platform an ideal on-ramp for traditional customers to adopt digital-asset solutions.

The company also announced a $30 million partnership in June with money-order giant MoneyGram, taking a 10% stake in that company. Following the deal, MoneyGram went live on Aug. 3 with Ripple’s xRapid.

The transaction has been touted as a way for MoneyGram to improve settlements on its cross-border payments while giving Ripple an entry into well-established payment channels. Our scores for Ripple’s FCAS…

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