#XRP-powered #xRapid to be used by “major banks” by EOY according to #Ripple CEO
XRP enthusiasts have been waiting for a bullrun of the coin as soon as it was announced that Ripple’s product utilizing it, known as XRP, was in production. This is due to the general idea that the use of the product will result in an increase in the price of the asset, which has led to a general sense of suspense in the community. As the end of the year draws close, it becomes clear that some theories, such as the “XRP $589 EOY”, are not going to come to fruition. Even in this example, a hike to $589 would require the current price to increase by 168185% in just the next month. While such theories are clear to not occur, there is one thing that XRP HODLers can look forward to at the end of the year. In an interview earlier this year, Brad Garlinghouse, the CEO of Ripple stated that at least one major bank will use xRapid as a liquidity tool by the end of this year. He stated: “By the end of this year, I have confidence that major banks will use xRapid as a liquidity tool, this calendar year. By the end of next year, I would certainly hope we would see in the order of magnitude of dozens.” While an order of magnitude of dozens of banks using the network would result in a healthy use case for xRapid as a liquidity tool, it would mean more for enthusiasts and investors in the XRP platform. With the current market currently being in the grasp of the bear, it seems that XRP still has an ace up its sleeve in order to counter the current market.
About Ripple's (XRP): Built for enterprise use, XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. Using XRP, banks can source liquidity on demand in real time without having to pre-fund nostro accounts. Payment Providers use XRP to expand reach into new markets, lower foreign exchange costs and provide faster payment settlement. XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa. XRP's five-year track record of stable technology and governance makes it ready for institutional and enterprise use.
XRP is the 2nd largest cryptocurrency by market cap size. Its market cap is currently $15,004,229,072 and it has a circulating supply of 40,327,341,704 XRP. It's up 2.85% over the past 24 hours and is currently trading at $0.372061