- At press time, XRP was trading at $0.5281, up 3.53% in the last 24 hours.
- The XRP price has been soaring in correlation with Bitcoin’s (BTC) price.
- Ripple has today launched a business liquidity hub.
The launch of the business liquidity hub by Ripple Labs has given a boost to the already bullish XRP price. Over the last month, the XRP token has increased by more than 40%.
The impressive performance comes despite the fact that Ripple is still defending itself in the ongoing court case with the US SEC, though no deadlines have been set by the court.
Ripple’s business liquidity hub
The newly launched business liquidity hub provides businesses with access to liquidity for digital assets from various cryptocurrency exchanges, OTC marketplaces, and market makers around the world. This hub integrates different solutions to enable businesses to access and manage liquidity from multiple platforms.
Businesses can take advantage of digital asset liquidity and a broad payout network to power their treasury operations, payments, and other needs.
The liquidity hub, which has been in pilot test since last year, bridges the gap between crypto and fiat systems. It leverages advanced technology to get the best crypto assets rates, eliminating the need for pre-funded capital positions with multiple liquidity platforms. This helps businesses reduce their tied-up capital, allowing them to efficiently manage their resources.
The liquidity hub is a 24/7 service, making digital asset transaction management flexible and fast while enabling businesses to track their funds.
Cryptocurrencies available in the business liquidity hub
Interestingly, the business liquidity hub does not currently support XRP token. It supports five cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Ethereum Classic (ETC), and Bitcoin Cash (BCH).
The lack of Ripple (XRP) has sparked a fierce reaction from the Ripple community, although many believe it is due to the ongoing case against the US SEC that argues that XRP is a security, not a cryptocurrency.