It is becoming a dream come true for the XRP community members, who wish to see the increase in XRP adoption among companies across the world.
After all, the majority of XRP faithful believe that the increase in the adoption of XRP as a means of payment would subsequently enhance its price growth.
Number of Companies Accepting XRP See Major Increase In 2020
As indicated by Cryptwerk, an online crypto merchant directory, as of December 2019, the number of companies accepting the Ripple’s digital currency, XRP, for payments was standing at 457. However, the number managed to increase by 46.61% within 7 months, making the number to currently stand at 670 businesses.
According to Cryptowerk, 22% of the companies accepting the use of XRP for payments are based in the United States, followed by the United Kingdom (UK) and India that respectively account for 10% and 5% of all companies accepting the cryptocurrency across the world.
The US-based cryptocurrency payments provider BitPay is the largest payment company to integrate the Ripple’s digital token in 2020.
The online crypto merchant directory further stated that XRP is the 6th most popular coin among merchants after Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Dash.
Judging by percentage increase, XRP has gained the trust of more merchants than other cryptocurrencies on the list, but they have all been stronger than the fourth largest digital currency in 2020, in terms of price appreciation.
At the time of publication, 3,272 merchants are accepting BTC, a growth from 2,731 at the beginning of the year. ETH has also gained 1,722 merchants, a number from 1,397 at the start of the year.
On the other hand, LTC has increased from 1,066 merchants to 1,353, while BCH now stands at 1,331, up from 975. Lastly, Dash has also grown from 619 to 760.