The XRP price has always been in the center of massive speculation. The token is now down significantly from its earlier ATH of $3, sitting at $1.4 at press time. Despite the slow momentum, Ripple (XRP) continues to strengthen its ecosystem, with its expertise now challenging the seasoned SWIFT technology. Here are the two reasons why sleeping on XRP might not be a good idea in the future.
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Two Reasons Why XRP Investments May Boom In The Future
1. Ripple’s CEO On XRP Competing with SWIFT
The XRP ecosystem has launched XRPL, a unique product that directly challenges SWIFT in the cross-border payment arena. Through XRPL, the cross-border payments arena can gain seamless transactions that are fast, affordable, and available 24/7. This domain had earlier been untouched, leading SWIFT tech to establish its dominance over the sector. While speculations and chatter about XRP taking over SWIFT have always been there, Ripple CEO Brad Garlinghouse has subtly shared how this phenomenon might come true some day, giving XRP investors a golden chance to explore massive future gains.
“Well, I think what we’re doing and executing on a day-by-day basis is in fact taking over SWIFT, in that we’ve now signed up well over 100 banks. Some of the largest SWIFT-enabled banks in the world are now using Ripple’s technology. Just last week, we saw a remittance company that’s using Ripple’s technology. They reduced the price per transaction to their consumers from $20 per transaction to $2 per transaction, and they saw an 800% increase in usage overnight. That’s the type of dynamic that SWIFT isn’t able to support that we’re able to address right now, and that’s something we saw just in the last couple of weeks. So we certainly want to see banks succeed in this new world order and take advantage of these technologies. To the extent we can work with SWIFT to do that, then that’s great.”
2. XRP Wallet Boom
That being said, the XRP wallet count is also steadily increasing, indicative of heightened user interest. This development is also hinting at rising XRP popularity, which may usher in new capital for the token to bank on. The total XRP wallet count has risen to 8.1M, with on-chain data showing rising adoption, with steady XRPL activity.
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