Skrill adds support for Ripple’s XRP as the fifth supported Cryptocurrency
Good news for Skrill users, the leading cross-border payment cryptocurrency XRP has been included as a supported payment option on Skrill’s platform. In a Twitter post, on 27 November 2018, the payment company announced support for XRP on its platform.
Apparently, the gesture was in response to several requests by Skrill users for the addition of XRP to the company’s supported assets. Until now, Skrill had only supported Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
Skrill, like XRP’s company Ripple focuses on enabling low-cost international payments on the internet and has been around since 2001 but recently integrated cryptocurrencies in its payment services. Skrill accounts can be created with any of the major currencies in the 45 countries in its coverage and now it is possible to buy supported cryptocurrencies through users’ accounts.
Ripple has achieved quite a lot with its cross-border payments and this gesture by Skrill may further widen XRP’s reach and make it more relevant to international payment.
XRP recently replaced Ethereum (ETH) in the second place on the list of cryptocurrencies by market capitalization. The assets success may be attributed to its success in the payment industry and some analysts think it may take the first position soon, although this may take some time as Bitcoin is still tens of billions of Dollars higher in market capitalization.
It is interesting to note that this integration of XRP is coming at a time when the cryptocurrency market is experiencing a serious bear market that is expected to linger for some time. This shows that all hope is not lost for the adoption of crypto to diversify use cases and increase adoption.
The market, however, has seen some improvements today as all the top cryptocurrencies have been in the green zone for a few hours now. XRP in particular currently trades at $0.388 at press time, with 11.35% increase in the last 24 hours.
As the top cryptocurrencies have been in the green zone for hours in a row, a further increase may be in sight or they may slight back in the next few days, no way to tell. Will Skrill’s support for XRP give it an advantage in the market?
The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.” Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.