In a big win for XRP adoption, the cryptocurrency is now accepted as a payment option on the mega-popular gaming platform Roblox.
XRP Now Accepted As A Payment Option In Games Like Roblox & SMITE
According to an announcement by the cryptocurrency payment processor firm BitPay, Xsolla now supports XRP via BitPay. Xsolla is a video game commerce company that offers a variety of services to game developers.
Over the years, the firm has grown into a known name in the industry, as it boasts clients like Ubisoft, Epic Games, and Twitch. The company is also currently a payment services provider for the super popular Roblox.
Initially released back in 2006, Roblox is an online gaming platform that allows users to create and host their own games, and play the games made by other users.
At first, the game was only available on Windows PC but has slowly rolled out on other platforms in the past few years. The PlayStation 4 (PS4) and PlayStation 5 (PS5) releases of Roblox happened just a week ago.
The game’s popularity blew up in the second half of the 2010 decade and only accelerated during the COVID years, as lockdowns boosted the gaming industry as a whole.
While Roblox has always been free-to-play, microtransactions are possible through the in-game currency Robux. With Xsolla’s partnership with BitPay, users can now buy Robux using XRP.
Given the massive popularity of Roblox, this is certainly good news for the adoption of the cryptocurrency. The asset can also be used on other games that Xsolla provides payment services for, like the multiplayer battle arena game SMITE.
XRP Also Saw Temporary Rally After Fake ETF News
The cryptocurrency market observed a rapid surge yesterday when an announcement of a Bitcoin spot ETF being approved surfaced. This news, however, turned out to be fake and the assets rolled back their gains in response.
XRP also mimicked this same pump-and-dump pattern, as the below chart displays:
The value of the token seems to have overall moved sideways in the past few days | Source: XRPUSD on TradingView
At the peak of this rally, XRP had breached the $0.51 level, but with the retrace, the coin has come back down to $0.49. Interestingly, while Bitcoin has seen net profits during the past day even after the ETF debacle, XRP is in the red for the same period.
The asset has also performed poorly against other top coins when looking at the weekly returns. The below table shows how the coin has performed against its peers in the top coins by market cap list recently.
Looks like the coin currently has a market cap of $26.2 billion | Source: CoinMarketCap
As is visible above, XRP has seen losses of 1% in the past week, while BNB and Solana have enjoyed profits in the same period. At present, the token is the fifth-largest in the market, but if its bad performance continues, it could lose its spot to the stablecoin USDC.
Featured image from Shutterstock.com, chart from TradingView.com