Amid ongoing crisis, Ripple has disclosed its expansion
Former US congressional candidate and founder of Gochstein Media David Gochstein believes that when looking at the big picture and zooming out, an asset like XRP is “making more and more sense now.”
Since most cryptocurrencies, including XRP, have underperformed so far this year, Gokhshtein says he was not referring to the price but rather to current happenings.
The FTX explosion is having the biggest impact on the cryptocurrency market as early signs of contagion are visible.
Yesterday, Genesis Global, the institutional crypto lender, said it would “temporarily suspend redemptions and new loan originations in the lending business” following the FTX collapse. Crypto exchange Gemini has also halted withdrawals from its Earn program.
Ripple has revealed its expansion amidst the current crisis. Ripple CEO brad garlinghouse Here are the figures: $30 billion in payments for both fiat and crypto on RippleNet; Ripple’s ODL enters its sixth continent, Africa.
Earlier this week, Ripple announced its arrival in Africa through collaboration with MFS Africa, a digital payment gateway. With the help of the new partnership, MFS Africa will make it simpler for customers and businesses in Africa to send real-time payments using their mobile phones across borders by utilizing Ripple’s On-Demand Liquidity (ODL) technology for crypto-enabled payments.
Ripple also reported the expansion of ODL to approximately 40 payout markets around the world, or approximately 90% of the FX market.
In the ongoing lawsuit, 14 amicus briefs in support of Ripple have been greenlit by the court, with most already going ahead and submitting their briefs.
As reported by U.Today, Gohkshtein predicted that XRP and other legitimate platforms will take off after Ripple wins its case against the SEC, adding that the entire industry is going parabolic.
