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- BitPay re-announces support for XRP weeks after CoinFlip added the asset to its list of supported cryptos.
- Users worldwide can now purchase XRP on the app, swap it for different assets, or store it on BitPay’s inbuilt wallet.
With the world’s eye fixed on the next price action of Ripple’s XRP following its regulatory clarity, one of the renowned crypto payment service providers, BitPay, reminded users of its support for the asset on August 4. This integration makes XRP available for spending at hundreds of BitPay-supported stores scattered worldwide.
BitPay released worldwide support for XRP, allowing #BitPay users across the world to buy, store, swap, and spend $XRP across all BitPay solutions.
To be able to use the asset on the app, the company explained in a blog post that users would have to first open the app, locate and click on the XRP wallet, then click on send. From there, they should enter the receiver’s wallet address, enter the amount to be sent, and confirm payment.
In addition to this, users can buy and swap XRP on the platform. Also, they can equally store their assets in the BitPay wallet.
In the wake of this development, the crypto community reacted with excitement as this integration could be a catalyst to a bull run. However, a section of the users commented on issues encountered in an attempt to make payments via debit cards.
CoinFlip Announced Support for XRP
In July, one of the leading fintech companies, CoinFlip, also announced that XRP is now listed and available for purchase through their Order Desk. This implies that customers with complimentary access are provided with personalized client managers in their purchasing process. This development is a huge boost to the XRP price as CoinFlip decides to expand its ATM presence to Puerto Rico, Canada, and Australia. It has been named by Crain’s Chicago Business as the number 1 fastest-growing business in Chicago for two straight years. Similarly, Inc. 5000 ranked it among the top 100 in 2021 and 2022.
As indicated in the press release, the integration was largely motivated by the recent court ruling in the case between Ripple Labs and the US Securities and Exchange Commission.
Ben Weiss, CEO and co-founder of CoinFlip commented on this:
The recent SEC ruling surrounding XRP provided a much-needed boost to the crypto industry by restoring confidence and signaling a positive shift toward regulatory clarity. Following an exponential increase in demand for the token, it was only natural for us to expand our offerings to include XRP. We are excited to further empower individuals with yet another powerful tool to navigate the evolving digital economy as we strive to make cryptocurrency accessible to everyone.
XRP has been tipped for greatness on the condition that it seals more partnerships and collaborations coupled with increased institutional investors. CNF recently reviewed an analysis by an industry expert that positions XRP for a bull run that could see the price hitting $8.5.
As of press time, the asset was trading far below its yearly high of $0.93 as bears take over the market. XRP is currently priced at $0.504514 and has fallen by 20 percent in the last seven days, 36 percent in the last 30 days, and 0.21 in the last 24 hours.
