Ripple's XRP Gains Traction with BIS Adoption

The price of Ripple's XRP token has fallen by 2.76% to $1.40 after a strong US jobs report, but its adoption by the Bank for International Settlements (BIS) could be a turning point.

BIS tested the XRP Ledger for data verification and found it to be efficient with low fees and high throughput. Ripple's CEO Brad Garlinghouse said this was no surprise, given XRPL's advantages.

In fact, data shows that XRPL has an average transaction fee of 0.000088 XRP and can process up to 24.91 transactions per second.

The adoption by BIS also comes as Ripple has voted in favor of amendments to the XRPL 3.3.0 upgrade ahead of mainnet activation on September 11.