Are you holding XRP (XRP) and feeling like giving up because of the price? Well, you need to reconsider your decision, because the XRP tide is coming. Yesterday, SBI, one of the key financial institutions that are using XRP gave a thumbs up to this crypto. According to them, XRP is superior in terms of speed, cost, and other conveniences. Take a look at their statement below with regards to the performance of XRP so far.
“Remittance using Ripple’s distributed ledger technology, which began with The Siam Commercial Bank Public Company Limited, a major commercial bank in Thailand in June 2017, is extremely superior in terms of cost-effective speed and economy. The use of customers has increased remarkably. In the future, we plan to further expand the remittance channel using Ripple’s platform.”
This is a big thumbs up for XRP and goes to show that in the near future, a good chunk of banks in Asia will be using XRP. Several key ripple people have consistently stated that most banks in Asia will be going live with XRP in 2019, and this announcement by SBI is a welcome confirmation of the same.
So why is the price not moving? Well, anyone who has been in crypto long enough knows that the crypto market moves in tandem with bitcoin (BTC). Whenever bitcoin drops in value it takes the entire market with it, and BTC has not been performing well in the last 8 months. That’s why XRP (XRP) has been underperforming.
However, this will change in the long-run. That’s because XRP is becoming more accessible through fiat pairings. This will over time, reduce the sway that bitcoin (BTC) has on XRP. Besides, XRP is increasingly becoming the base currency on most exchanges. This will serve to make it more liquid. As its liquidity grows, its price will become more stable, and it will be less susceptible to the manipulation that is now characteristic of the crypto market.
With that in mind, it is best to invest in XRP with a long-term view. Rather than focusing on what its price is doing today, think of what it could achieve in the next 5 years. If current trends are anything to go by, then XRP (XRP) could become the standard for cross-border payments in the next decade. Once that happens all banks across the world will require XRP (XRP), and this will drive demand to unprecedented levels. This demand will without a doubt drive up the price.
When thinking of XRP, think of companies like Amazon and where they were in the 1990s. Today, Amazon is a trillion dollar company trading at over $2000 a share. XRP has the fundamentals to take a similar trajectory in the future.