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XRP – Transaction Volume Rises – Sign of Adoption?

Ripple has performed well this year. Although the price did not breakout, it did rise from $0.30 to above $0.40. Currently, Ripple’s price sits at about $0.43. However, another indicator might be much more important for the adoption of Ripple.

Highest Transaction Volume in Top 5 – Without Smart Contracts

The transaction volume is steadily increasing since January. Although far away from the ATH of about 1.7 million transactions per day, almost 900,000 transactions per day is a good average for XRP. It’s about thrice as much as Bitcoin for example. Of the top 5 cryptocurrencies only Ethereum reaches a similarly high transaction volume. However, as Bitcoin, Bitcoin Cash and Litecoin have barely any smart-contract functionality, the lower transaction volume comes as no surprise for these coins. Ripple also lacks this smart-contract functionality and could still expand adoption and usage of XRP by scoring many partnerships.

Ripple’s Way: Regulation and Collaboration

Ripple achieved many partnerships in Asia and the North-American market in the past. For this year the crypto company took the task of collaborating with new partners in Brasil and in Switzerland. Both key countries in their region for financial services and innovation in the fintech sector. The creation of new offices in these countries is logical: Ripple tries to establish itself within the existing industry by collaborating with the regulators. A goal that seemingly proves to become real with strongly rising transaction volume.

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