Ripple Outperforms Bitcoin and Ethereum in India ā CoinSwitch
Summary:
Ripple (XRP) has surpassed both Bitcoin (BTC) and Ethereum (ETH) in trading volume on CoinSwitch, one of the largest cryptocurrency exchanges in India. Analysts attribute this shift to:
- Regulatory Clarity: Cryptocurrency regulations in India are evolving to favor assets with clear utility, such as Ripple's cross-border payment solutions.
- Banking Partnerships: Ripple is increasingly collaborating with Indian financial institutions.
- Investor Sentiment: Traders are moving from BTC and ETH to alternative currencies amid market stability.
The report highlights that the low transaction costs of XRP and the speed of payment settlements make it attractive for remittances ā a key use case in India.
#coinswitch #ETH #BTC #Ripple #india $XRP $BTC $ETH