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It is becoming increasingly clear that Ripple (XRP) is the future of cross-border payment. Multiple banks all across the world have already adopted Ripple, and the trend keeps gaining traction. It was only a few days ago that the Santander group announced that they would be using XCurrent for payments across Europe and the United States. However, one of the biggest news coming up is the possibility that bank of America could be readying up to use of Ripple in the future. This is according to a redditor who came across references to Ripple in a recent bank of America development day presentation. The reddit or quotes the write up directly from the presentation and it read as follows,

“Ripple provides an opportunity to reduce complexity of integration to enabled partners, standardize data protocols and formats and eliminate errors and reconciliation through use of blockchain distributed ledger technology”


“Pilot to enable more efficient cross-currency payments by reducing lengthy/unknown settlement times, eliminating multiple layers of cost and providing greater transparency over FX, fees and data shared between originator and recipient.”

While the redditor’s post doesn’t expressly state that bank of America will be using XRP, it’s an indicator that bank of America could be gearing up to deploy Ripple (XRP) as a replacement to the SWIFT system.

However, even before this deal happens, it is increasingly clear that Ripple is poised to take over, as the norm in cross-border banking transactions. Once all the major banks like BOA start using it, the rest of the banks will have no option but to adopt it too. At that point, Ripple will have truly taken over finance, by solving a $20 trillion dollar problem.

So why is the value of Ripple (XRP) not shooting up, with all these good news? Well, part of it is because bitcoin has been bogging down the entire crypto market. Once bitcoin turns bullish, the value of XRP will increase too. For instance today bitcoin rose up slightly from $7300 to $7500 and XRP rose too, from around $0.57 to $0.60. There are all indications that bitcoin is primed for takeoff having hit lows of $7000 a few days ago.

The moment it rises and sustains above $10,000, XRP too, like the rest of the market will start making moves to the upside.  That’s when Ripple could shoot up astronomically and hit valuations of over $10 or more in a few months.  Longer term, Ripple will perform even better!  With a solution to a $20 trillion problem, and a coin supply that declines as the coins get used up, it’s not hard to see why Ripple should be worth at least $200 in the next 5 years.

As for now, it’s time to take advantage of the low prices and accumulate as much XRP as possible, as more good news continue to  trickle into this market. You never know, buying Ripple (XRP) now could end up being like buying Bitcoin (BTC) in 2014!

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This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.


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