Recently, the world trade organization released a report on digital technologies. One of the technologies that was mentioned in this report is ripple. According to the report, ripple has ambitions to circumvent the correspondent banking model through its distributed ledger platform.
The report touches on several other aspects of ripple including the fact that the company has partnerships with more than 100 banks and financial institutions. While several other cryptos are mentioned in this report, ripple’s mention is quite extensive. The report even goes ahead to state that banks are still testing the system. This is a big hint to the fact that ripple is making serious in-roads in the banking sector.
But this is not the first time that ripple has been mentioned by high profile institutions. It has also been mentioned by the IMF as well. The IMF has mentioned ripple a couple of times in different forums. On top of that, ripple has people in some of the most important institutions in the world. For instance, it is represented in the Federal Reserve fast payments task force.
This is a major institution, and the fact that ripple has people there is strategic, and to links to the growing recognition that ripple is getting in global institutions that have a bearing on its rate of adoption. On top of that, the recent ripple event brought together some of the biggest institutions in finance from all across the world. It brought together policymakers and central bank heads from all across the world.
By connecting all these events, it becomes evident that ripple is gaining in acceptance in the finance world. So far no other crypto has such acceptance at the highest levels of global financial hierarchy as ripple has so far.
The implications of this could be pretty drastic. It could be that the financial world up for a major reset, and ripple will be at the center of it all. With the increased digitization of the world economy, things are moving pretty fast. It is clear that the banking sector needs to move fast for it to keep up with these needs. The whole idea of money taking days to flow all across the world is pretty much outdated. That’s pretty much part of the reason behind the fast payments taskforce by the Federal Reserve.
If ripple takes center stage in redefining the global economy, then there is a high probability that XRP (XRP) is primed for some huge gains ahead. That’s because XRapid is the best of ripple technologies. It not only facilitates fast cross-border payments but also cuts costs to the banking sector by up to 60%. That’s an incentive for adoption in banking, for providing the liquidity for instant transactions at close to zero cost. Since XRapid is already live, and ripple is constantly getting mentioned as superior tech by global financial institutions, there is a good chance that XRapid could be headed for a series of high profile adoptions going into the future.
For XRP (XRP) investors, all these factors point to a future where XRP could make huge gains going into the future. As banks begin to adopt it at scale, its long-term price trajectory will be very much possible.