XRP and RippleNet have gained traction in Australia as the token’s real-time settlement capabilities attract banks, fintechs, and remittance providers. RippleNet, launched in Australia in 2019, connects banks and payment firms to enable faster, cheaper cross-border transfers. The XRP Ledger underpins XRP’s fast confirmations and low transfer costs, supporting transactions that traditional wires struggle to complete quickly. Regulatory clarity has encouraged financial institutions to engage with XRP trading, with major names like Bank of America and Santander among the players expanding their XRP activity.
Ripple, the company that developed XRP and the RippleNet it operates on, has played a major role in improving the token’s utility and overall ease of access. As with many cryptocurrencies, XRP remains volatile, and price movements influence conversion rates and liquidity planning in Australia. For instance, converting AUD to XRP, then XRP to USD, can streamline cross-border flows, a process now feasible in minutes thanks to RippleNet’s speed. Nevertheless, regulatory and legal developments continue to shape sentiment and adoption, with ongoing developments in the US and elsewhere affecting XRP’s pricing and use.
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