XRP purchases in UK, France will be active soon

Paigambar Mohan Raj
Source: CoinDesk

Thanks to a new initiative by Xumm Wallet, crypto users in France and the UK (United Kingdom) will soon be able to purchase and sell XRP for fiat currencies. Xumm is implementing on- and off-ramp solutions in its XRPL-built software. Xumm worked with BTC Direct and Banxa to add onramp and offramp for many countries. The development of the European region of the world is the responsibility of BTC Direct. On the other hand, Banxa is already accessible in Asia, Europe, and America and offers more global coverage.

As per their statement, Xumm intends to add more countries over time. However, their release does note that “native Xumm Onramp/Offramp requires a yearly Xumm Pro subscription.”

MoonPay will not be included in Xumm Wallet since it does not adhere to the standards, according to Wietse Wind, the chief developer of Xumm Wallet and XRP Ledger. Furthermore, the compliance officer also disapproved of MoonPay.

Other XRP developments

Amid a larger bearish trend, XRP is not going through its best days. The coin has fallen by 6% in the last week and 17% in the last 30 days. XRP’s market cap also dived, losing almost $5 billion. Its current market cap stands at $19.4 billion.

Despite positive news in the SEC vs. Ripple lawsuit, XRP has failed to share the same sentiment. The lawsuit is expected to end sooner than previously anticipated, with many expecting Ripple to come out on top of the SEC. If that happens, XRP should ideally see a positive movement in its price. Ripple uses XRP tokens on its ledger, which is used by many for remittance purposes.

At press time, XRP was trading at $0.386363, up by 1.5% in the last 24 hours. Moreover, the currency is down by 88.6% from its all-time high of $3.40, attained on January 7, 2018.