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Ripple Tackles the Multi Trillion-Dollar Payment Market With XRP

Jamie West by Jamie West
December 7, 2020
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Ripple is fulfilling the need for a multi-trillion dollar means of payment using their digital asset XRP, says the company’s head of global institutional markets in a recent statement. The XRP’s utility in the current market is what gives the cryptocurrency its edge in being a driver for value creation, Breanne Madigan believes.

In a recent interview with American financial magazine Barron’s, the Ripple executive delved into why XRP will grow greater in value as time passes. She believes that the case for investing Bitcoin and their investment strategy can bring in the most returns for their investors.

Madigan also urged new cryptocurrency investors and newbies to study certain individual digital assets before investing in them. She says that they should seek to understand the utility of these digital assets and their core value proposition. Also, she recommends analyzing the problem these coins are solving and the markets they can be used for.

She told the outlet that the Ripple XRP is a great example of a cryptocurrency that can and is solving a real-world problem.  She used the trillions and trillions of dollars of trapped capital payments as an excellent market opportunity that XRP is solving to hammer this point.

She says that it is a huge addressable market, making it an amazing driver for creation. She also mentions how Bitcoin is addressing a huge market value storage which is currently dominated by gold.

As of writing, Bitcoin currently has a market capitalization that stands at $353 billion, while gold is twenty-five times bigger at $9 trillion. In comparison, XRP currently has a $21.4 billion market capitalization, making it the third most dominant cryptocurrency.

This confidence in XRP’s utility and usability as a multi-trillion dollar means of payment may be the result of the gains it experienced in the last month. This may have also been part of Ripple’s plan for an aggressive expansion, especially for XRP’s On-Demand Liquidity (ODL), as said by the company’s general manager.

It can be recalled that XRP topped the charts in terms of earnings for the month of November with record gains at 169%. This meant that XRP experienced a 225% increase in value for 2020.

This high performance was swiftly followed by an announcement from Ripple General Manager, Asheesh Birla, regarding plans for an aggressive expansion for the cryptocurrency’s utility, especially as an ODL.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: cryptocurrency newsripple news todayRipple pricexrp news predictionxrp news todayXRP price
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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