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Home News Ripple Opens Swell With Another Flip and Another Release


Ripple Opens Swell With Another Flip and Another Release


Say what you like about the folks at Ripple Labs, but they sure know how to organize a party. The creators of the XRP token are expected to open the annual Swell conference in San Francisco with several major deliveries, including a keynote speech from a former president, another jump in market cap rankings and new payment systems to put XRP tokens in actual bank accounts. 

Swell, the largest annual conference for Ripple, will kick off this morning in San Francisco. In addition to a much-publicized keynote from Bill Clinton, and another from ex-Chairman of the Federal Reserve Bill Bernanke, the conference is expected to welcome participants from major banks, eBay and the International Monetary Fund. And Counting Crows.

Bank-to-Bank Transaction Settlement

The conference opens three days after RippleNet announced “multi-hop,” a system which allows participating banks and institutions to settle payments without a direct connection.

SIMETRI Research

Thailand’s Siam Commercial Bank was the first to adopt the feature, Ripple said in an announcement. “Using multi-hop, SCB will be able to receive and forward on a payment without a bilateral relationship between the originator and beneficiary institutions.” 

Citing the “expensive workarounds” required for international payments, Ripple says that the development of multi-hop settlements will be a boon in Southeast Asia, where cross-border payments require multiple currency conversions and correspondent banks.  “As a result, cross-border payments into these countries are inefficient and racked with high fees,” the company said in a blog post. 

xRapid eyes Mainstream XRP adoption

The conference comes shortly after a Ripple executive inadvertently triggered a bull-run on the XRP token. Speaking to CNBC last month, Sagar Sarbhai, a regional executive for Ripple in the Middle East and Southeast Asia, hinted at a live xRapid release in October. 

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production,” Sarbhai told CNBC’s Arjun Kharpal.

xRapid is Ripple’s much-anticipated liquidity solution for cross-border payments.  Unlike Ripple’s other ledger systems, xRapid is expected to use Ripple’s XRP cryptocurrency—giving a firm, real-world use-case to an otherwise speculative token.

Although it’s too early to tell when (or if) xRapid will be released in October, a release announcement during a major blockchain conference would be a logical time to capitalize on media attention. In addition to Swell, a week-long blockchain conference is also scheduled in San Francisco this month. 


XRP’s market capitalization (light blue) briefly eclipsed Ethereum (dark) for the third time this weekend. Source: CMC


XRP: the 2.5th largest crypto?

Although it’s not clear if Sarbhai’s words were an intentional pump or an inadvertent slip, the interview prompted several meteoric pumps in XRP’s market cap. As Crypto Briefing has previously reported, XRP has briefly swapped places with Ethereum several times, most recently on September 30th. 

As Ripple opens the annual event, guests will not only be able to look forward to new instances of adoption and use, but also the prospect of a permanent spot in the market cap just below Bitcoin’s.


The author has minor positions in both XRP and Ethereum. 



Authors at Crypto Briefing are invested in cryptocurrencies. The author of this post may be invested in digital assets mentioned here.

Andrew Ancheta
Andrew Ancheta
Andrew is the Deputy Editor at Crypto Briefing. After many adventures in China, Vietnam, Persia, Cuba and Europe, he spent several years in Beijing, where he produced articles for the state media. Besides cryptocurrency, Andrew's also interested in travel writing and photography. His articles have appeared in VICE, Time Out, City Weekend, Badges, Scoot, Art Republik, CoinStaker and several other magazines and websites around the world. He now divides his time between Beijing and New York.


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