Ripple works with several banks; Can it be the future of digital payments?

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Ripple, which is the world’s fast-growing cryptocurrency payment powerhouse, works with banks regulators and policymakers in many governments for the adoption of digital payments.
The token roles as both payment platform and currency. It’s an open-source platform that was built to make transactions quick and cheap.
CryptoWhale, a crypto analytic firm recently spoke on the odds of giving XRP the edge, as it works with government regulators on compliance.
It says: “Many criticize XRP for being ‘too centralized’, although this transparency is what government like,”
“While other projects are focused on getting a quick batch of new investors to exit scam, Ripple has quietly been working with government agencies to ensure compliance.”
At the time of writing, XRP traded at $0.241, with a daily trading volume of $1.55 billion. It’s price is down by -2.7% in the last 24 hours. It has a circulating supply of 45 billion coins, and a max supply of 100 billion coins.
Global banks having a good relationship with Ripple
Japan-based Mitsubishi UFJ Financial Group, with assets of more than USD 2.8 trillion, announced in 2018 that, in cooperation with Ripple, it would provide an international money transfer service on the payment corridor from Japan to Brazil.
Banks using XRP such as Europe’s banking giant, HSBC Holdings Plc, with assets of about $2.5 trillion, which disclosed in 2019 that it would use the XRP payment solution.
Japan Post Bank with assets of USD 1.9 trillion, Sumitomo Mitsui Financial Group, and Mizuho Financial Group with trillions of dollars in assets, also have a close relationship with Ripple Asia. Others having a relationship with Ripple include Banco Santander, Barclays PLC, Royal Bank of Canada, and Toronto-Dominion Bank.
Moreover, CryptoWhale says he is looking to purchase more XRP, once the correction is over.
“I’ve been involved with XRP since 2013, and there’s a reason it has always held its spot in the top 3 or 5.”
People are not generally interested in XRP since it has not “moved up for 2.5 years.” However, he says:

  • This time is ignorable in the investment world. Be patient.
  • XRP is up by more than 10,000% since 2014.
  • It has steadily held its position as top 5 coin for many years.

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