Recently, the Bank of International Settlement hinted that it may consider using Ripple’s protocol in the future. 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.
Ripple News Today – Banks To Use Blockchain technology
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.
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.
XRP Price Prediction 2019
XRP (XRP) Price Today – XRP / USD
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.
XRP Price Prediction 2020
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, popular analyst Bearable Bull Run has weighed in on the future of Ripple’s XRP, claiming the digital asset will reach $5 to $10 in the next 10 days.
The crypto analysts said the cryptocurrency market will see a massive boom in general. He averred that the build-up to the next bull run can be compared to the previous bull run.
Looking at the trend of the 2017/2018 bull run and compare it with the buildup of 2019 bull run, one won’t doubt that XRP is a few days away from the massive bull run.
“You have 9 to 10 days to buy XRP before you’ll never be able to get it at these prices again”
Bearable Bull said the limit that XRP can reach by the end of 2020 is $1200. He did not also doubt the possibility of XRP jumping to $1200 before this year ends.
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