At the time of this report, XRP traded at $0.241, with a daily trading volume of $1.55 billion. XRP’s price is down by -2.7% in the last 24 hours. It has a circulating supply of 45 billion coins, and a max supply of 100 billion coins.
Global banks having a relationship with Ripple
Japan-based Mitsubishi UFJ Financial Group, with assets of more than USD 2.8 trillion, announced in November, 2018 that, in cooperation with Ripple, it would provide an international money transfer service on the payment corridor from Japan to Brazil.
Banks using Ripple include Europe’s banking giant, HSBC Holdings Plc, with assets of about $2.5 trillion, which disclosed in 2019 that it would use the XRP payment solution.
Japan Post Bank with assets of USD 1.9 trillion, Sumitomo Mitsui Financial Group, and Mizuho Financial Group with trillions of dollars in assets, also have a close relationship with Ripple Asia. Others having a relationship with Ripple include Banco Santander, Barclays PLC, Royal Bank of Canada, and Toronto-Dominion Bank.
What you should know: Ripple (XRP) plays dual roles as a payment platform and a currency. It is an open-source platform that was created to allow quick and cheap transactions.