The recent bullish run of XRP’s price was seen as a favorable development for the coin’s prospect of expanding its payment ecosystem. The coin recently rose to $0.92 levels before setting down to $0.85 by the end of the day. It also gained almost 40% in market value in February. Together, these were seen as the XRP obtaining key catalysts to the increased feasibility of the coin being utilized for real-world payments.
Moreover, in the last months, XRP has been closely monitored because of the developments it saw within the real-world banking market. RippleNet, XRP’s blockchain network, onboarded Morroco’s largest bank last month. Before its partnership with this, it also took in American Express, Banco Santander, Bank of America, and several others into its cross-border remittance ecosystem.
Despite being delisted from several cryptocurrency exchanges, XRP remains one of the most liquid digital assets in the world. The digital coin saw the demand for fast and secure cross-border payments services and low transaction fees. And in this regard, XRP sees an average of 2 billion dollar trading volume each day, and all indications say it is here to stay.
While the legal challenges the XRP is experiencing are still unpredictable, a favorable decision for Ripple will positively affect XRP. Regardless, the support from the community and several other entities is massive leverage that puts the US SEC in a bind, making their victory unlikely any time soon.
Moreover, the success of XRP in facing these legalities will definitely reinstate the coin to more cryptocurrency exchange platforms. The pent-up demand for the coin will boost its liquidity and increase its price exponentially in the following months.
Overall, RippleNet is poised to replace established payment systems as it continues to expand its ecosystem. This means that XRP investors are positioned for huge returns in the long run.