XRP to power Singapore’s invoice-based trading platform, reasons for recent dip

XRP dipped lower today past the $.47 mark and may dip towards $.45, although I’d be surprised if it dipped much lower than that. One reason is that Binance did maintenance on the XRP wallet, causing trade on Binance to halt for a while, largely effecting the trade volume of XRP. There was speculating that this was for the X-rapid update on Binance, but I think it was just a regular wallet maintenance.

In other news XRP will be powering Singapore’s new invoice-based trading platform. This is essentially a system for small and medium-sized businesses trading off their invoices for instant cash. It provides instant liquidity for operations that are in desperate need of immediate funds. Of course, you have to get the immediate cash at a discount of what your invoices were worth. This is a multi-billion dollar business that is popular in the United States and the EU but is growing in the Asia-pacific region and is another solid use-case for XRP.

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