In our previous XRP news, we established that Ripple is loved by institutions but hated by the cryptocurrency community outside the XRP Army. Over time, Ripple’s technology has received thumbs up from key players in the financial industry and beyond including IMF and the World Bank. Even if many of these institutions haven’t started using XRP yet, they recognize that Ripple’s technology is innovative and it has the power to reinvent the remittance space in the future. Recently, the Bank of International Settlement hinted that it may consider using Ripple’s protocol in the future. If this happens, how will it affect the XRP price prediction 2019?
XRP Price Prediction 2019 – XRP News Today – Bank Of International Settlement To Use XRP?
The Bank for International Settlement is typically known as the Central Bank of Central Banks. If this institution decides to use Ripple, the effect will be amazing. During the week, Agustín Carstens, the General Manager of BIS, said that cryptocurrencies are interesting assets that have been brought to birth by blockchain technology. While he praised cryptocurrencies, he also noted that they are not a good store of value. He said that cryptocurrencies are best used as a medium of exchange for transaction settlement. Which cryptocurrency is currently the most ideal for transaction settlement? That’s right, the answer is XRP.
BIS is owned by the central banks in charge of financial cooperation and international monetary transactions. It does everything within its power to promote global financial stability. So, the excitement of a digital asset investor on the XRP rich list at this time is expected. Before now, this institution was openly against cryptocurrencies but the recent comment by the general manage suggests that they may have a change of perspective.
According to the XRP news on Today’s Gazette, BIS is looking for a way to solve the biggest problem banks are facing which is settlement related. During the Swiss Bank National Conference, Brad Garlinghouse, the CEO of Ripple, who also happens to be a member of the advisory board of the Swiss National Bank, and, representatives of the BIS were present.
Ripple News Today – XRP News Today – XRP Price Prediction 2019 – Current Price Of XRP
If the BIS is looking for a way to speed up internal payment settlement and decides to use blockchain technology, Ripple and XRP will most likely be the first option. Ripple was created primarily to solve the internal settlement problem. It is faster, cheaper and more efficient than the existing system. If banks integrate XRP, they will get higher liquidity for settlement.
At the time of writing, the price of XRP was $0.389065. This means that it is up by 0.21% against the USD and down by 0.60% against the price of BTC. The trading volume over a 24 hour period is $1,631,067,195 and the market capitalization is $16,386,107,360. If XRP gets an increase in adoption, the demand will increase and so will the price. On the other hand, there is a high chance that these financial institutions will decide to build their own blockchain-based settlement systems rather than use Ripple.
What do you think about the XRP price prediction in our XRP news today? Will more banks use Ripple or will they just build blockchains. Share your thoughts in the comment section below.