Ripple (XRP) is one of the leading cryptocurrency tokens to exist in the domain. Despite having multiple legal hurdles along the way, the token has emerged as one of the strongest contenders, trying to establish expertise in the cross border payment domain. The token seems to be following a dedicated path, a strategic methodology that is helping Ripple climb the ladder of success one by one. Here are the three surefire ways through which XRP can establish its true positioning by becoming a leading global phenomenon in the cross-border payments sector.
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3 Ways for Ripple to Dominate the Cross-Border Transaction Sector
1. Government Backing of RLUSD
Long before the GENIUS Act came into the picture, Ripple had already launched RLUSD, its very own stablecoin. The coin was launched to facilitate smooth cross-border payments, access liquidity for remittance, and, at the same time, help materialize XRP’s vision for a seamless transaction world. Now that the US government has officially unveiled an act that helps legitimize the usage of stablecoins, Ripple (XRP) now has a chance to become a true blockchain beacon that takes the lead in the blockchain-based cross-border payment arena. If the US government ends up backing RLUSD one way or the other, it could help XRP rise to new price peaks and help Ripple take central control.
2. Ripple ETF Approval & Adoption
With nearly 18 ETFs eager to deliver systematic XRP exposure to investors, Ripple is currently in high demand. If the US SEC approves the launch of XRP ETFs, this could be a game-changer for the token in essence. This development would allow investors to diversify their portfolios by exploring the token, helping XRP rise high on the radar.
Furthermore, the US SEC approval would help institutions get a hold of the token and its ETF, which could be the trigger that XRP may need to lead the domain in an orderly fashion.
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3. Competitor to SWIFT or Replacing a Fraction of Its Business
SWIFT has long dominated the cross-border transaction domain. Ripple’s new blockchain-based Ripplenet changes that narrative, rapidly challenging the authority of the SWIFT network. If Ripple (XRP) manages to replace or onboard a fraction of SWIFT transactional proceedings or ends up replacing it in the near future, then it would usher in a period of great prosperity and success for the token. This development will certainly help Ripple (XRP) emerge as the true winner in the space, helping the token climb to new price highs.
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