Ripple News Today: In our previous XRP news, we talked about how Ripple created XRP primarily to solve the problems that plague cross-border remittance in the current financial system. While a digital asset investor can buy, hold and sell XRP to make a profit, the original plan was for XRP to be used to power international remittance. The goal is to get the interest of banks and have them use Ripple’s payment protocols instead of the expensive, slow and outdated financial systems that are currently dominating the international remittance sector. Well, according to a cryptocurrency writer on Ethereum World News, it’s only a matter of time until XRP hits global adoption and the price of the token surges.
XRP News Today – XRP Latest Update – XRP Prediction 2019 – XRP Price Prediction 2019 – $600 Remittance Sector To Be Disrupted By XRP
According to a report by Business Insider, the global remittance sector is worth more than $613 billion. Of all the countries in the world, India is the highest receiver of global remittance and Ripple dominates 50% of the cryptocurrency market in India. While banks aren’t signing to Ripple’s tune yet, the impact will be disruptive when they eventually start. Ripple is certain that these banks will soon get tired of using their current systems because its technology is faster, cheaper and more efficient. Using Ripple’s technology for cross-border remittance will save the banks money and also save the senders the high cost for sending. Those who send small sums of money will no longer need to worry about extremely high fees or delays in payment.
Now, what will XRP gain if it is able to disrupt the cross-border payment sector which is worth $613 billion? The writer painted a hypothetical situation where Ripple takes control of about 10% of the market share. If this happens, Ripple would have 10% of $600 billion to play with. While this may not happen anytime soon, the amount sums up to about $60 billion. This is going to provide Ripple with more than enough liquidity to reach global adoption. This, in turn, will lead to a surge in the price of XRP.
XRP (XRP) Price Today – XRP / USD
Will it be easy for XRP to make a name in the global remittance sector and take control of 10% of the market? No, it is not going to be easy. It’s going to be slow and steady but there is a chance that it will happen eventually. There will be challenges along the way like convincing the average person who doesn’t know much about cryptocurrency to send money with XRP instead of their normal channel. With time, if XRP is able to overcome these challenges, it will reach mass adoption.
XRP News Today – XRP Price Prediction 2019 – XRP Latest Update – XRP 589 – Current Price Of XRP
At the time of writing, the price of XRP was $0.424833. This means that it is down by 8.36% against the USD and down by 3.65% against the price of BTC. The trading volume over a 24 hour period is $3,157,988,149 and the market capitalization is $17,892,538,072. Yesterday, XRP, and other altcoins enjoyed a bullish spree. In our XRP prediction 2019, we noted that XRP would hit $0.50 near-term. While this hasn’t happened yet, there is a high chance that the bulls will soon resume and take control of the market.
What do you think about the XRP price prediction 2019 in our XRP news today? Share your thoughts in the comment section below.