Ripple News Today – Coinfield has just announced that it now provides liquidity solutions for Ripple XRP and the SOLO token. On Twitter, the CEO of Sologenic Bob Ras announced that the liquidity solution for XRP will be available on the Coinfield exchange. They have been working on making this solution available for weeks according to the announcement. Part of the Twitter post was as follows;
“Over the past few weeks, we’ve been working on a solution to provide some liquidity for both SOLO & XRP on the XRPL DEX. We’re glad to inform you that all tests have been successful & it’ll go live shortly today.”
In addition to providing liquidity solutions for XRP and SOLO, the SOLO token is now available on the XRPL decentralized exchange. Ras said that Xumm, an XRP-based banking platform will give users a safe and efficient way to access XRPL decentralized exchange when they want to perform transactions. Xumm’s developer Wietse Wind that SOLO was lacking liquidity on XRP’s ledger because of its limited supply. This explains why the price of the SOLO token has been highly volatile.
XRP (XRP) Price Today – XRP / USD
Launched in March by XRPL Labs, Xumm came prepared with over 3,700 users and the list is growing daily. Using this application, users can trade cryptocurrencies and access traditional banking services as well. This will promote the use of Xumm and the adoption of cryptocurrencies in general.
Out of the top cryptocurrencies on CoinMarketCap, Ripple XRP has no doubt gotten a lot of backlash from members of the cryptocurrency community. For starters, many people do not believe that the XRP token is centralized because Ripple allegedly manipulates the price of the token along with everything else. However, even members of the XRP community have started losing confidence in the XRP token and its parent company, Ripple. Research from the cryptocurrency whale club revealed that the number of XRP fans has fallen significantly since 2018. As of 2018, there were over 64,525 people in the XRP community. In 2019, the number reduced to 28,624. Just a few months later in April 2020, the number of XRP supporters had fallen even lower to 23, 299.
Apart from their loss of faith in Ripple, the poor performance of the XRP token is another key reason for the decline of interest in XRP. Many of those who held on to the token with the hopes of gaining long-term are losing money instead of making a profit.