Ripple’s countless partnerships with banks and recent Swift network buzz will lead the next bull run. XRP is a powerhouse in the crypto space with technology to streamline and secure payments as well as abolishing large transaction fees. The Ripple team has over 200 partnerships with banks worldwide who are very impressed and eager to use their X-Rapid protocol.
This could definitely ignite the next bull run.
Banks and Crypto?
Everybody knows that banks control the economies giving us access to our money and offering us incentives to keep It in their control but all this comes at a price, If you were to try and send your money from let’s say The United States to India you would acquire a transaction fee set by the bank.
The fees you accrue whilst sending money aboard can be staggering with the bank taking a fee to exchange your currency to the other and this could take up to 7 working days to go through.
This is where XRP comes in, if you were to send your money via the XRP token you would not incur transactions fees and the payment would be instant this is both saving the bank and person sending money.
XRP To Start the Next Bull Run?
XRP has been one of the most outstanding projects coming from the 2017 crypto bull run. The project has been poised for adoption from day one with the Ripple team holding offices In every major country in the world, They say the right things and abide by financial and governmental regulations.
The team has gathered over 200 banking partnerships with different companies around the world all using their current X-Rapid protocol which is designed for sending cross-border payments, with so many banks on board the protocol looks to be fully adopted.
The more banks and institutions using the Ripple software the more XRP tokens will be taken off the market to be used making the supply diminish causing the price to rise.
This would have a positive effect on other cryptocurrencies if institutions and average day people see the success of XRP and how it benefited the banks and consumers institutions will try and capitalize on blockchain technology to benefit their business as well the exposing the average day person to the benefits of blockchain and investing in the industry.
What problems does the space face?
Cryptocurrencies have been plagued by failed ICO’s and scams adding black marks to the crypto space a lot of first-time investors in 2017/2018 got stung and it’s left a bad taste in their mouth ever since.
Ripple/XRP moving into the spotlight and teaming up with banks is a positive for the space showing legacy in the sector and the benefits it will have on existing establishments.
The next bull run could be around the corner and XRP will be leading from the front.
