What’s up, guys? I hope you are all having a fantastic day. I’m back with yet another update on how XRP is doing in the XRP community. Today, the price of XRP stands at $0.67, and we are in the green zone today, which is, of course, something great to see with all that’s happening in the crypto space. XRP is definitely trying to find its footing before the big takeoff. But before we get into all the juicy details of today’s content, let’s roll that intro.
As always, welcome back to Money Side-your favorite crypto news channel. If you are new here, welcome to the XRP Fam. Now, back to today’s topic, we are going to rev those engines with this tweet from @Ripple, Central Bank Digital Currencies (CBDCs) will be one of the defining transformations in the history of money.
Like this post, if you agree, then download our free report to learn more. We have talked about how we are heading into this new digital era time and again. And it’s pretty impressive how everything is just unraveling before our eyes. Following that link, we can see that The introduction of Central Bank digital currencies (CBDCs) will be one of the defining transformations in the history of money. How the underlying technology is implemented and monetary policies are set over the coming decade will determine whether sovereign-backed digital assets open the door to enhance global trade and financial inclusion or maintain the siloed, inefficient and inequitable status quo.
This white paper provides Central Banks with the framework for implementing CBDCs and guidance for ensuring global interoperability cornerstone of success for CBDCs. Download your free copy of this report and discover why now is the time for Central Banks to explore the growing moment behind CBDCs, develop common solutions and ensure that the next evolution of money benefits more people and businesses. Looking at our following tweet, we can see that @stedas tweeted, @Ripple pilots a private ledger for Central Banks launching CBDCs.
Moving money on the CBDC private ledger will be cost-effective, reliable, and instantaneous, 10k+ TPS, 60k+ more efficient than POW I hope you can all see how these differences stand out. There is no way we can compare XRP to Bitcoin. XRP definitely stands out as the more superior digital asset. Bitcoin is now outdated; it was probably a good test run, but times up! In the image shared in this tweet, we can see that the CBDC private ledger is based on the same blockchain technology that powers the XRP Ledger (XRPL), which means that the CBDC private ledger is built for payments.
The CBDC Private Ledger is designed for issuing 5,400 currencies, including XRP- which can be leveraged as a neutral bridge asset for frictionless value movement between CBDCs and other currencies. This is just incredible, guys. The kind of superior technology that XRP brings to us is just mind-blowing, to say the least. Coming from @backupbradley, he shares this tweet from 2019 by @XRP_stuart from 2019 that says, These 12 banks used XRP for six months in 2016.
Barclays, BMO, CIBC, Intesa, Sanpaolo, Macquarie Group, National Australia Bank, Natixis, Nordea, Royal Bank of Canada, Santander, Scotiabank, Westpac. They said it works beautifully In the content, Ripples ODL is highly talked about and how its going to transform the finance sector. As we all know, Through the On-Demand Liquidity (ODL) service, RippleNet leverages the digital asset XRP as a bridge between two currencies, allowing you to eliminate pre-funding of destination accounts, reduce operational costs and unlock capital.
With ODL, RippleNet customers can use XRP to bridge two currencies in as little as three seconds, ensuring payments are quickly sent and received in local currency on either side of a transaction. Another tweet from @Mark_Phillips says that Unpopular opinion: @Ripple&SEC will settle. Ripple winning would gut SECs ability to regulate crypto. More strategic is to do enough discovery to have a strong case, then settle, so XRP is the only major crypto with official US government clarity.
Slams the door on competitors. I bet you have all been wondering why the SEC is going after one coin only, XRP? Well, the way I see it is that XRP is meant for a bigger picture, and this regulatory clarity was very much needed before we launch into the new era. It’s evident that this coin is going nowhere and will likely take that top spot. As a matter of fact, Ripple is working on upgrades on this network.
Yes, that’s right! Ripple recently published an article on their official website. Why else would they continue improving their structure if they are not sure about winning the case? Guys, I’m telling you guys that this is the next big crypto, and you should bank all your crypto investments on it. The article that Asheesh Birla wrote reads, Today, crypto and blockchain are more mainstream than ever. On every major news outlet, there is a daily mention of crypto or a discussion of how crypto markets are faring and its even gone primetime on SNL.
There’s a palpable level of excitement for crypto that isn’t showing signs of slowing down tokenization is here to stay. It’s estimated that at least 46 million Americans own crypto today, and many other countries are adopting this tech at higher rates. Major companies like Square, Robinhood, Visa, Mastercard, and PayPal are firmly integrating crypto into their product stacks. World-famous DJs are offering exclusive NFTs to their global audiences.
Even central banks are jumping headfirst to the potential of crypto about 80% of central banks are exploring use cases involving central bank digital currencies (CBDCs), with 40% already testing proof-of-concept programs. Last month, El Salvador became the first country to adopt bitcoin as legal tender, and, in the US, Miami is taking action to make the city a hub for crypto.
Since Ripple’s inception, we have understood the potential of crypto to transform the financial system from changing the way, money moves across the globe through near-instant payment settlement to the way we borrow and loan money through DeFi platforms. Back in 2012, when Ripple first launched, crypto and blockchain largely lacked the infrastructure, liquidity, and trust needed for adoption. There were only a few exchanges at that time doing a few million dollars a year in volume compared to traditional exchanges like Nasdaq with about 5 billion dollars in volume per day.
Fast forward to today, there are hundreds of exchanges around the world doing billions in volume every day. With this increase in adoption, there’s a growing need for tokenization, the use of digital tokens to represent ownership of any type of asset (physical or not) on a blockchain. Tokenization is transforming how people buy, sell, track and manage assets everything from art and real estate to intellectual property, equities, and supply chain goods. In fact, the World Economic Forum projects 10% of the world’s GDP will be tokenized by 2027.
With our years of experience working with Financial Institutions (FIs) on using blockchain-based technologies, Ripple is uniquely positioned to partner with enterprises for that future. There’s no question those who don’t embrace these new technologies will be left behind. The article briefly summarizes what Ripple and XRP are trying to accomplish and the upgrades they made on the network.
At the end of the article, there’s something important that I thought is also worth noting. This comes on the heels of incredible global momentum for Ripple. The APAC region especially is exploding with growth and opportunity thanks to progressive crypto regulation and innovative companies looking to jump on the chance to lead in the crypto space.
For Ripple, were seeing some of our largest growth volumes here. Southeast Asia transactions grew by 10x in 2020, driven by existing RippleNet customers and new connections.
New customers like Novatti joined Ripples global payment network, using ODL to enable payments from Australia to the Philippines, and we acquired 40% of Asia’s leading cross-border payments specialist Tranglo to accelerate the expansion of ODL and Line of Credit in the region. As more enterprises want to add crypto-enabled services, customers like Novatti and Tranglo play a vital role on the network as fiat on and off-ramps.
Today, it’s a matter of when not if, crypto will play an integral role in the future of financial services. This industry has moved full speed ahead for the past decade, and it’s only speeding up. The future belongs to those to build bridges between the traditional financial world and the new paradigm of crypto and blockchain technologies. If you’re a financial institution looking for a competitive advantage to drive the growth of your business through crypto, contact us today. We’re also hiring for a number of roles check out our job openings. Imagine that? New customers in the Asia market are embracing XRP.
Guys, this coin isn’t going anywhere, and the only people who stand to lose from this opportunity are the US traders. Additionally, the article ends by advertising for new job opportunities in their network. It doesn’t get any clearer than that. This company is expanding no matter what happens with the lawsuit. Now, as we come to the end of today’s content, we will wind things off with this twee from @AssetsDaily that says, As investors, you’ve got to be excited when Bitcoin Maxis is giving price predictions for XRP for EOY at $30.
And I couldn’t agree more! You all saw what Bitboy had to say in one of our previous content, and I think this is just beautiful! Guys, with that in mind, let’s take a look at the price action of XRP! XRP, like bitcoin, has not seen significant movement on the chart for several days. The price is currently trading near the bottom of the triangle. It is likely that BTC will go up and altcoins will also go up. If XRP comes to the upper boundary of the triangle and starts consolidating near it, that would be a good buying opportunity, even better if the price breaks through it and tests the triangle as support.
Ripple is ready to go higher due to the fact that the price is consolidating for a long time and probably can make an impulse up, the price can break the resistance zone and go up to the resistance level. If all these factors materialize, Ripple could quickly reach the above targets! Trade with care guys! Please keep in mind, We are not licensed, financial advisors. All content on this channel is intended for entertainment purposes only.
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