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XRP has finally broken the $1 barrier after more than three years. Ripple‘s Chief Technology Officer (CTO), David Schwartz, is optimistic about the future of the digital currency. In recent times an interview he pointed out that XRP is specifically designed as a high-performance settlement system that makes cross-border transactions faster and more efficient than other solutions.
Schwartz emphasizes that Ripple aimed at increasing liquidity and attracting key players in the financial sector. The ultimate goal is an ecosystem in which money can circulate easily and sufficient liquidity is available for cross-border payments.
Institutional adoption is growing
Ripple is seeing increasing interest from institutional investors. The Q3 2024 Markets Report mentions names such as Bitwise Invest, Canary Funds and 21Shares, all of which have filed for XRP-related exchange-traded funds (ETFs). Grayscale has also launched the XRP Trust and is working on approving a multi-asset ETF.
In addition, Ripple is strengthening its position through partnerships with banks and payment providers. XRP is used as a bridge currency in On-Demand Liquidity (ODL) solutions, which will increase the demand for digital currency in the long term.
Price expectations
Although XRP has already achieved an important milestone by breaking the $1 barrier, analysts see much more potential. Egrag Crypto, a famous analyst, predict that the coin may even grow to a price of $33. He sees the $0.75 level as a critical trigger for further price increases.
Thin order books, with few buy and sell orders, can accelerate price increases because even small transactions can have a big impact, he says.
Decision
XRP is on an upward trajectory with increasing interest from institutional parties and ambitious plans from Ripple. Analysts see the potential for further price increases, which could allow XRP to reach new highs in the coming months.
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2024-11-17 16:36:00
#price #XRP #rises #explosively #Ripples #plan
Will Brics use XRP?
In theory, these features make XRP an attractive option for BRICS or any large economic bloc looking to modernize their payment systems. However, the idea of BRICS adopting XRP is speculative at best and faces several hurdles. A central argument against the idea lies in the nature of BRICS’ mission. Guest 1: David Schwartz, Ripple’s Chief Technology Officer (CTO)
1. How does XRP’s design make it suitable for high-performance settlement systems for cross-border transactions?
2. What are some of the challenges you foresee in increasing liquidity and attracting key players in the financial sector?
3. Can you elaborate on Ripple’s partnerships with banks and payment providers, particularly in using XRP as a bridge currency for On-Demand Liquidity (ODL) solutions?
Guest 2: Egrag Crypto, a famous analyst
1. What factors contribute to your prediction that the price of XRP could reach $33?
2. How do thin order books affect XRP’s price movement and potential for further growth?
3. With increasing institutional adoption, what role do you see XRP playing in the broader crypto market?
