We see 2020 as the Year of the Alt-Coin, which translated means anything other than Bitcoin. XRP is an Alt-Coin that has transitioned from speculative token to a “use case” fundamental story, which is where many surviving alt-coins hope to land. The momentum has been driven by a partnership with NASDAQ-listed International Money Express Inc. The leading money remittance services company is focused primarily on the Latin America and Caribbean corridor, according to the official announcement.
The partnership will enable Intermex to utilize Ripple’s On-Demand Liquidity (ODL) product through RippleNet, the firm’s international network of financial partners. The product leverages Ripple’s XRP token as a bridge between the sending and receiving currencies in real-time. Its primary function is to alleviate the need for pre-funding accounts in cross border payments. International Money Express Inc. allows customers to send money primarily from the United States to 17 countries in Latin America and the Caribbean, including Mexico and Guatemala, and four additional countries in Africa.
In addition to this big partnership, the BitMEX exchange also announced that trading of a new perpetual swap on the XRP token (XRPUSD) will begin on February 5.
Since the beginning of the year, XRP has gained 40 percent, outperforming Bitcoin and many of the other altcoins. The Ripple token is the top-performing crypto asset in the top 30 at the moment. Its market cap is just shy of $12 billion at the time of writing — but it still has a long way to go to be considered bullish.