XRP Ledger (XRPL), the blockchain technology behind the XRP token, is capable of processing 3,400 transactions per second (TPS), which equates to 293 million transactions daily. This impressive capacity has led to XRP becoming a preferred choice for banks seeking to digitize their services for a global audience.
XRP influencer Alex Cobb has shared some intriguing statistics about the XRPL, emphasizing its potential as a global utility asset. According to Cobb, XRP can handle 3,400 transactions per second, 204,000 per minute, 12.24 million per hour, and 293 million per day. This capacity positions XRP as a valuable asset for banks worldwide.
As reported, XRP is already popular among banks. A recent BCBS report revealed that 19 out of 182 banks involved in the Basel III exercise are investing in crypto assets, with XRP being highlighted alongside Bitcoin and Ethereum. With 2% of total crypto asset exposure in XRP, equivalent to €188 million, XRP is a prominent altcoin among banks, second only to Bitcoin and Ether.
Despite concerns about XRP’s market dominance, the data suggests that the XRPL has the potential to revolutionize the financial world. This not only paints a promising future for XRP investors but also signifies a shift in the perception and adoption of cryptocurrencies as serious financial assets.
However, some analysts have challenged these claims. Daniel Keller, an XRPL ambassador and the Chief Technology Officer (CTO) at Eminence, argued that the quoted statistics are based on ideal conditions. According to Keller, the real-world XRP transaction speed typically ranges between 500 and 700 TPS. It’s worth noting that Ripple’s official page claims that the XRP ledger can achieve 3,400 Transactions per second.
Interestingly, the capabilities of the XRP ledger reportedly increased last month from 1,500 to 3,400 TPS, marking a new phase for the project. Despite this, the short-term performance of the token remains challenging. In the last 7 days, the 6th ranked token has lost around 8% of its value. At the time of writing, XRP is trading at $0.56. Despite this, investors remain optimistic about reaching the all-time high of $3.40 in the next bull market.
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This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Daniel Keller, Alex Cobb |
| Companies | XRP Ledger (XRPL), Eminence, BCBS, Crypto News Flash |
| Currencies | XRP, Bitcoin, Ethereum |
| Securities | None |
