Ripple has raised the price of XRP, buying back tokens for $ 46 million

Ripple has raised the price of XRP, buying back tokens for $ 46 million

The 3 Reasons Why Ripple XRP Is Going to $1 and Then The MOON Very Soon…

Contents

Ripple raised the price of XRP by buying back tokens for $ 46 million
CONTENT

  • Ripple bought $ 46 million worth of XRP tokens

  • XRP price jumped 12% in a week

  • The company notes the growing international interest in blockchain and digital assets

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The purchase of XRP tokens comes amid the growing popularity of digital assets and blockchain technology among payment service providers

The American fintech company Ripple first carried out the buyback of XRP tokens for a total amount of $ 46 million in the third quarter of 2020. The company announced this on its official website. According to Ripple, the token buyback is aimed at improving the market. In an interview with The Block, a Ripple spokesman assured that the company will continue to buy tokens to support a new loan product called Line of Credit..

Source: coinmarketcap.com

On the daily timeframe, XRP / USDT rose 3.33% to $ 0.260. Weekly token As the use of cryptocurrencies increases, new types of tokens are emerging. They can represent value or something intangible like voices. Ripple’s Two … More Climbs 12%.

Ripple raised the price of XRP by buying back tokens for $ 46 million

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The decision to start buying back tokens also correlates with the growth of integration digital financial assets in the business model of payment services. According to Ripple’s calculations, in North America, Europe, the Middle East and Africa, Latin America and the Asia-Pacific region, from 82% to 94% of the population are somehow familiar with blockchain and cryptocurrencies..

Ripple also notes the active introduction of blockchain technologies in the international arena, and also notes the growth in the use of cryptocurrencies for simplified payments. The digitalization process is most active in the neobank segment, followed by retail financial institutions, payment service providers and custodians.

“Many of [financial] institutions have adopted blockchain technology to increase payment speed, achieve a high level of reliability, increase data transparency and provide long-term savings in operating costs,” notes Ripple.

Ripple raised the price of XRP by buying back tokens for $ 46 million

Technology goes to the next level

Ripple has concluded that distributed ledger technology is no longer an exotic novelty. This is a mature technology that will play an increasingly important role in international payments in the coming years, the company notes..

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The benefits of investing in cryptocurrencies have already been noticed by MicroStrategy and Square, whose shares have skyrocketed after the announcement of the purchase of Bitcoin. BeInCrypto previously reported that after record sales of bitcoin through the CashApp app, shares of developer Square jumped 12%. A similar growth in shares was seen from MicroStrategy, which previously bought 17 thousand bitcoins..

Where the price of bitcoin will move next – read in a special material from BeInCrypto.

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