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Ripple Attained Amazing 2019 Growth; to Focus on Higher Utility in 2020

Jamie West by Jamie West
December 19, 2019
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Ripple had an exciting week so far. It started with the liquidity index for XRP surging beyond 9 million, setting a new record high. Then it got a mention from the Consumer Financial Protection Bureau, signaling that the XRP is perceived as being credible. Now, its future utility is expected to rise, which can lead to further surges on its liquidity.

How sustainable are these positive developments?

Liquidity of XRP Hits New Record

Ripple Attained Amazing 2019 Growth; to Focus on Higher Utility in 2020 1

Based on the recent reports, the liquidity of XRP is now beyond 9 million because of Bitso. The Mexican crypto reportedly stimulated the growth of Ripple and Moneygram’s s project.

This is why an additional million to the liquidity index transpired easily. The daily profits reached 92 percent.

Apart from Ripple, however, a strong exchange in the Philippines, Coin L. also witnessed a sharp increase in its liquidity index.

What does liquidity mean anyway? Why achieving a new record of liquidity Is good thing? What could further push liquidity higher?

Utility to Be the Main Success Driving Factor of Ripple in 2020

Ripple Attained Amazing 2019 Growth; to Focus on Higher Utility in 2020 2

The cryptocurrency space has long evolved in various ways. Bitcoins at one point were for purchasing pizzas, but now they make it possible for criminals to use in engaging in illegal activities. In 2017, Bitcoins were perceived as a fast way to earn profits because it reached its all-time high prices.

However, speaking in an interview, Ripple CEO Brand Garlinghouse claimed that speculation and illegal use would cease to be the reasons why cryptocurrency projects are taking off, as they mostly have been in 2019.

Instead, the CEO believes that in 2020, the cryptocurrency’s utility will be the main growth factor. The utility will attract more real patronage and more authentic growth. He explained that utility refers to how the digital assets were capable of solving real problems that real customers have. Unless the cryptocurrency projects provide real service, he does not think the whole market will ever grow next year.

With the provision of XRP-powered payments platform, On-Demand Liquidity, a higher volume in 2020 can be reasonably expected, as more corridors open up.

However, as early as now, there are already problems that Ripple customers are experiencing that XRP is capable of solving. One of these is high remittance fees. SendFriend, a major remittance company in the United States, and also one of Ripple’s valuable clients, have already utilized the platform on-demand liquidity to reduce remittances by a significant 80 percent.

SendFriend CEO, David Lighton spoke at the Ripple’s University Blockchain Research Initiative Connect Conference and claimed that traditional remittance fees were genuinely steep. However, because Ripple’s blockchain-based ODL makes the need for working capital obsolete, international money fees are capable of being lowered at least by 75 percent. Working capital requirements are usually the reason behind high fee charges in remittance transactions.

XRP Has a Great 2019

As the year-end approaches, Ripple’s plans for 2020 are increasingly coming into light. There is a general sense that it will focus on being functional and of greater service. However, before 2020 truly arrives, Ripple’s achievements this year should not be overlooked.

Ripple certainly engaged in very strategic moves in 2019, including but not limited to partnerships and investments that propelled Ripple into new heights. These partnerships and investments are the reasons why Ripple is currently at a place that is prime for more growth and development in the next year. These are the reasons why Ripple can serve its customers better in the near future.

With utility being its main focus, 2020 will lead to a major shakeup of the digital assets industry, wherein Ripple can play a leadership role. Utility can determine which projects will be successful and thrive, and Ripple is ready to offer the most useful of projects.

The movements that Ripple had undertaken this year all naturally put it into the radar of many, even that of the US Government. Ripple can mark 2019 as the year that its XRP received legit attention.

A US governmental agency, the Consumer Financial Protection Bureau, cited XRP in a critical document. This is a record-breaking moment for the company, as this happened the very first time in history. The mention is not even minute and easy to overlook. Instead, the agency described XRP in a very favorable light.

It describes XRP as a form of trustworthy remittance tool in the future. It will be capable of solving many of the remittance issues people face now.

The government said XRP can process transactions in a swift manner. XRP also makes it easier for companies to affordably and conveniently carry out money transfers yearly.

Ripple Should Address Massive XRP Transactions

Ripple Attained Amazing 2019 Growth; to Focus on Higher Utility in 2020 3

The only thing Ripple should probably be more mindful of and address, are the massive XRP transactions that the community does not view in a positive light. Of recent, there have been exposés of large XRP transactions happening on anonymous accounts that the Whale Alert made.

According to Whale Alert, a total of 150 million XRP exchanges happened between two anonymous accounts, which the XRP community found enraging. Based on the comments of the users, this kind of transaction is harming the price of the token.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: Bitcoincoins.phConsumer Financial Protection BureauCryptocurrenciesliquidity indexRippleutilityXRP
Jamie West

Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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