Uphold, a prominent American cryptocurrency exchange, has officially confirmed that the U.S. Federal Reserve’s instant payment system, FedNow, allows for instant XRP transactions to select U.S. bank accounts. This confirmation comes after initial skepticism from the community. Users can now withdraw XRP directly to their bank accounts, with the equivalent USD value credited, eliminating the need to sell the cryptocurrency beforehand. Uphold has introduced a lightning symbol in its app to indicate transactions eligible for instant withdrawal. There is speculation that Ripple Payments may be an intermediary, leveraging FedNow through Uphold, but confirmation is awaited. The development highlights efforts to bridge the gap between cryptocurrencies and traditional finance. XRP’s trading volume has surged by 87.55% in the last 24 hours, reaching a total of $2.67 billion, indicating increased interest and buying pressure in the market. Open Interest has also risen by 4.26% to $945.87 million, reflecting growing optimism among traders about XRP’s price potential.
