The Ripple ecosystem is experiencing rapid expansion, with the latest integration of Xumm with Ecwid by Lightspeed. This integration will make it easier for the over one million stores hosted on Ecwid by Lightspeed to accept any digital currency supported by the XRPL as payment for goods and services. This move has been considered one of the biggest partnerships that has happened this year.
XRP, the digital currency of the Ripple ecosystem, was first established as a payment token. However, it has now evolved into an asset whose utility can be diversified across the board. The growing utility of the XRPL ledger has long-term implications for the price of the XRP currency. This is because the integration of Xumm by Ecwid presents its own core utilities that are notably different from those on offer by Ripple Labs Inc.
Despite the instability that Ripple may be experiencing with the United States Securities and Exchange Commission (SEC), the growing utilities built around the XRPL protocol mean that there will be an anchor upon which the price of XRP can be hinged. The projected growth in demand for XRP means that we can expect the price of the digital currency to pick up bullish growth momentum in the near future.
The XRP coin is currently trading at a price of $0.473, up by 3.63% according to data from Marketcap. The spreading influence of Ripple and the XRP ecosystem into new markets could see it retesting the $0.60 price level in the short term.
Ecwid by Lightspeed is one of the frontline retail service technology platforms. By prioritizing simplicity in shopping, as well as offering a diverse and generally accepted mode of payment, Ecwid has delighted many people now connected to its growing marketplace. As an outfit that supports Xumm as a payment mode, users can enjoy convenience at the point of sale while benefitting largely from premium utilities that the protocol may roll out in the near future.
Charting a new utility or milestone is not uncommon for digital currency or blockchain-based protocols with relatable utility. The growing utilities being built around the XRPL ledger have long-term implications for the price of the XRP currency. This expansion of the XRPL ledger means that the XRP coin is fast becoming a go-to for cross-border transactions.
Ripple is conquering new markets by spreading its influence in India, where over 14 billion people are using XRP ODL for faster transactions. With this, it is evident that the XRP ecosystem is expanding and becoming a preferred choice for many users globally.
Conclusion
The integration of Xumm with Ecwid by Lightspeed is good news for the entire Ripple ecosystem. It shows that the XRPL protocol is gaining more acceptance and becoming more stable. This move will therefore have a positive impact on the price of the XRP currency in the long run. Users can enjoy convenience at the point of sale while largely benefitting from the premium utilities that the protocol may roll out in the near future. The growing utility of XRPL is a positive undertone for XRP, and it is expected to pick up bullish growth momentum in the near future.
Disclaimer: Cryptocurrency investments are subject to market risks. This article is not intended to be investment advice, but rather an insight into recent developments in the cryptocurrency market. Readers should do their research before taking any actions related to cryptocurrencies.
