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- XRPL’s Xumm has now been deployed on Ecwid by Lightspeed as a payment means.
- The growing utility in the XRPL has a positive undertone for XRP.
The Ripple ecosystem within the XRP Ledger (XRPL) is expanding at a very sporadic rate and moreso, with the latest integration of Xumm with Ecwid by Lightspeed. The integration as announced will now make it easy for the more than 1 million stores hosted on Ecwid by Lightspeed to accept any digital currency supported by the XRPL as payment for goods and services.
The announcement reads;
Integrating Xumm with Ecwid by Lightspeed allows customers to pay with any asset they own on the XRP Ledger, creating a seamless environment for both fiat and cryptocurrency payments while providing certainty for the store owner, receiving 100% backed USD/EUR/GBP GateHub stablecoin,
Charting a new utility or milestone is not uncommon for digital currency or blockchain-based protocols with relatable utility. While first originating as a payment token, XRP is now being branded as an asset whose utility can be generally diversified across the board.
The Ecwid by Lightspeed embrace of the XRPL is considered one of the biggest partnerships that has been recorded thus far this year, and even beyond. Ecwid has positioned itself as one of the frontline retail service technology platforms. By prioritizing simplicity in shopping as well as in offering a diverse and generally accepted mode of payment, Ecwid has been the delight of 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 largely benefitting from the premium utilities the protocol may roll out in the near future. With Xumm, Ecwid by Lightspeed has removed a crucial barrier to entering the digital shopping space based on its allowance of digital currency users.
Ripple and the XRP utility, implications for price
The growing utilities being built around the XRPL ledger has long-term implication for the price of the XRP currency. First, it is worth noting that the integration of Xumm by Ecwid presents its own core utilities that are notably different from those on offer by Ripple Labs Inc.
And importantly it’s utility separate from @Ripple ! pic.twitter.com/38NjIKAY3G
— Anders 🏁🌏 (@X__Anderson) April 24, 2023
This implies that irrespective of the instability that the current legal brawl the San Francisco-based company may be facing with the United States Securities and Exchange Commission (SEC), there will be an anchor upon which the price of XRP can be hinged on.
With the projected growth in the demand for XRP, 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 percent according to data from Marketcap. Retesting the $0.60 price level in the short term cannot be ruled out considering the spreading influence of Ripple and the XRP ecosystem into new markets.
