Of late, there has been an influx of larger crypto buyers into the market one of which is Grayscale. Grayscale is a crypto investment firm that has been mainly focused on Bitcoin and Ethereum. At one time in the last few months, Grayscale was buying more Bitcoin than was being produced by miners.
Now, the already popular big buyer is shifting its gaze to another crypto, XRP. In a recent twitter post, Grayscale seems to be throwing its weight behind the number 3 top crypto. The firm floated the idea that XRP could be ripe enough to grab a sizeable chunk of the $2 trillion-worth global payments market.
XRP Addresses Liquidity Challenges
On another page on its website, the investment firm set out to explain its sentiment about XRP, saying that XRP greatly appeals to banks and other financial institutions due to its innovative ability to solve liquidity issues that have long pestered the banking sector.
Evidently, the current traditional payment systems like SWIFT, ACH, and FedWire have failed to adequately address this problem.
Going forth, Grayscale praised the XRP system, especially the XRP Ledger that has introduced various unique crypto-related products in the market.
The products include XRP’s On-Demand Liquidity (ODL) and RippleNet. It’s already in the public domain that the products have attracted the attention of some of the largest banking institutions in the world – including a few central banks.
XRP Approved By Major Exchange Markets
According to a rather curious comment by one crypto fan contributing to the twitter post, XRP is gaining even more momentum especially since some of the biggest exchange and trading markets are already embracing it. Apparently, the crypto has already been approved for trading by serious market authorities like NASDAQ, SEC, NYDFS, CTFC, and the OCC.
It’s these important factors that could add to the growing general acceptance and adoption of XRP, and that can only have a positive impact on both its market capitalization and price.