XRP Healthcare Suspends XRP Swap Facility Less Than a Month After Launch 

XRP Healthcare, a platform focused on blockchain-based pharma and healthcare services, announces the suspension of the XRP to XRPH swap facility.  

The company made this known in a press release yesterday, emphasizing the need to preserve the finite supply of XRPH, its native token, for the asset’s trading on exchanges and other products. 

📢 XRP Healthcare will stop XRP to XRPH Swap Facility, Ensuring Token Scarcity on June 7th. This decision comes in response to the unprecedented demand for XRPH tokens, underscoring the importance of preserving the finite supply📢

Discover why this news is so exciting:… pic.twitter.com/jIDCgNyOQd

— XRP Healthcare (@XRPHealthcare) May 27, 2024

According to XRP Healthcare, the decision is part of a strategic move to address the unprecedented demand for XRPH, which has skyrocketed recently. 

Notably, the company would halt the XRP-XRPH swap facility on June 7, 2024, or after the depletion of the tokens allocated for this purpose. 

Ensuring XRPH Scarcity  

Commenting on the development, XRP Healthcare founder and CEO Kain Roomes stated that the suspension was an integral step toward ensuring the scarcity of XRPH. 

He added that halting the swap facility of XRP to XRPH is a proactive step towards managing the supply of its native token, a measure similar to what is witnessed in top crypto assets, like Bitcoin and Ethereum.

The development comes less than a month after XRP Healthcare integrated the swap facility feature in the upgraded version of its mobile app. The feature, introduced in v.7.0.9 of the app, allowed users to swap their XRP coins for XRPH seamlessly. 

Besides offering a swap feature, the app also serves as a gateway to a decentralized pharma marketplace alongside an open-source codebase.  

XRPH Token Details

XRPH has a total supply of 100 million tokens. 70,708,715 (70.7 million) of these tokens are currently in circulation. The company emphasized its dedication to blackhole the XRPH issuing account to prevent further issuance of the token.

Blackholing the issuance account prevents XRP Healthcare or any other entity from adding new tokens to the total supply.  

For context, XRP Healthcare is a top pharma and healthcare platform built on XRP Ledger (XRPL). It allows people in developing nations to gain access to affordable healthcare services. 

A unit of XRPH token was trading at $0.05, up 9.3% in the daily charts. Although XRPH’s price is down 87.5% from its all-time high of $0.41, ongoing efforts to increase its scarcity could pave the way for a potential surge.