5 Ways XRP can get to $10

Posted 20 seconds ago | by Catoshi Nakamoto

Coach Dirty Gary has had XRP sitting on the sidelines for one of the most historic bull runs in the history of crypto, but the game is not over yet. Someday very soon, Ripple will be closing the case with the SEC and will be able to join all the other assets out on the field.

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Let’s get it.

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5 Ways XRP can get to $10

In this video, we’re going to take a look at what’s been going on with XRP and consider if this asset can break 10 dollars in this current bull cycle. This might sound crazy but we’re headed into alt season, where the most explosive gains happen in the crypto bull run. The entire crypto market is getting close to 3 trillion and we could realistically see a 10x from here in the following months if things play out like they have in the past. Historically, XRP has been one of the top performers, and things are shaping up to play out just like that all over again. Ripple actually has a lot going for it despite some of the FUD you may have seen in the news. Regulators in the US may be doing everything they can to slow down the growth of this industry, but other countries around the world are happy to do business with crypto companies, and Ripple has been busy making deals with international partners as they handle the legal obstacles here in the US.

Over the past few months we have seen Ripple seal numerous deals with banks overseas who plan on using Ripple’s On Demand Liquidity or ODL service to improve cross-border transactions. With ODL, banks can use XRP as a bridge currency to radically improve the speed and efficiency of international payments. This product is the XRP army’s secret weapon, because it solves a huge problem in the traditional banking system and forces banks to use XRP if they want to improve their services.

This part of the Ripple arsenal is important to understand. One of the reasons that it takes so long to process international payments is that the banks need to exchange between currencies in order to complete the transaction. Banks on each side of the transaction need to have various currencies on hand, or they have to go and make currency purchases every time someone makes an international transaction. This is a very inefficient way of doing business, and it is a major headache for banks and their customers. With Ripple’s ODL service, banks and payment providers will be able to use XRP to send value across borders without exchanging currencies. This will also allow for nearly instant settlement times, something that is physically impossible under the current system, which usually requires a few days for processing, and sometimes it even takes much longer than that.

Just this week, Tranglo, a large payments processor in Asia, announced the launch of its first live ODL service on RippleNet in the Philippines. It’s probably no coincidence that this announcement came just after Ripple acquired a 40% stake in the company earlier this year. So now Ripple owns nearly half of one of the largest payment processors in Southeast Asia, and the company has already begun rolling out Ripple’s products in its markets. Tranglo also announced that they would soon be providing cross-border payment services in Mongolia. Tranglo has said that RippleNet is one of the options that it was considering for its payment infrastructure, so there is a very good chance that XRP will benefit from this deal too.

This news came just after an announcement last week that the Al Ansari Exchange in the UAE was going to be using the RippleNet Cloud for remittances to Malaysia. We discussed that development in detail in last week’s video.

Tranglo is headquartered in Malaysia, so perhaps we could see some ODL adoption there as well. And I didn’t even mention the similar deals made earlier this year in Korea and Japan. These partnerships are bringing a ton of liquidity to the network, which is one of the main reasons that the price of XRP has done so well considering all the adversity it has faced this cycle.

There was even news this week that XRP would be included among the approved currencies for a Visa-backed project called CryptoSpend, which allows customers to spend their crypto at various merchants, similar to BitPay or the Crypto.com card. Most headlines only mentioned that customers could spend Bitcoin, but Ether, XRP, Bitcoin Cash and Litecoin were also on the list.

If Ripple achieves mainstream adoption in these markets it will send the price of XRP way past 10 dollars.

We are already seeing massive growth in XRP transactions as a result of these new partnerships.

Last week, Ripple published its quarterly XRP Markets Report, which showed that there were 88.8 million transactions on the XRP Ledger in the 3rd quarter of this year. These transactions amounted to a total of 69.3 billion dollars. “Probably nothing” as the kids are saying these days.

Another factor to consider is the Flare Network, which many people have forgotten about because that long awaited airdrop still hasn’t come yet. A lot of progress has been made behind the scenes over the past year though, and things have been going very well on Flare’s canary network Songbird. In fact, SGB, the native token for the Songbird network will be airdropped to the XRP holders who had the flare snapshot taken last year. This is in addition to the other airdrop that we’re still waiting on, but this one will be coming first. If you were a part of the snapshot, you’ll have to check with the exchange where you had that taken to see if they are participating. The Songbird token initially launched back in September, but it was first airdropped to holders who had their XRP in self-custody. Now it’s taking a bit of time for the exchanges to catch up.

Once the Flare network finally goes live for public use, smart contracts will finally be available on the XRP ledger, which will drastically increase the demand for XRP.

The end of the current legal case against Ripple will probably be XRP’s biggest catalyst. XRP’s price has been suppressed for the past year because it was delisted from most major exchanges after the SEC announced the case against Ripple. Uncle Brian from Coinbase recently said that the case has been looking good for Ripple, giving many investors some new hope that XRP could be relisted soon. If XRP does get relisted on major exchanges, the price will explode and it will start to get all that positive media attention that it did during the last cycle. XRP has definitely had some decent gains this year if you compare it to most traditional investments, but it wasn’t really a part of the conversation this time around, and it was pretty hard to get. The only people who really know about XRP are people who have been in crypto for a long time, or those of you who watch this channel, but compared to other projects in the top ten XRP was all but sitting on the benches for this bull run. This means that XRP will be able to run faster and bounce back harder than most of the other coins in the market right now. It really hasn’t had it’s time to shine yet, but it’s coming, especially with Ripple’s adoption overseas.

Whatever fine or penalty may be thrown its way, Ripple will continue to operate and grow its business and will come out stronger than ever before.

But that’s all I got. Be Blessed. Bit Boy Out.

Source: https://thebittimes.com/5-ways-xrp-can-get-to-10-tbt6020.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam

Category: Cryptocurrency News

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