Are you an XRP investor who is about to give up due to its high price? Hold on! The XRP tide is on the way! SBI, one of the giant banks applying XRP have heard the sounds of abundance of this digital currency. SBI Bank attributes the outstanding speed, cost and several other benefits of XRP with a bright future for it. This is their performance evaluation of XRP as posted on their official website.
“Remittance using Ripple’s distributed ledger technology, which began with The Siam Commercial Bank Public Company Limited, a major commercial bank in Thailand in June 2017, is extremely superior in terms of cost-effective, speed and economy. The use of customers has increased remarkably. In the future, we plan to further expand the remittance channel using Ripple’s platform.”
What does this Imply to XRP?
This statement will greatly boost XRP’s public approval and soon several Asian banks will start embracing XRP technology. In the recent past, the XRP management has regularly hinted that many Asian financial institutions will be partnering with XRP in 2019, and this endorsement by SBI is a welcome note to XRP’s plans.
But, why is the Value of XRP still Stagnated?
Well, any crypto expert will whisper this when requested to give his view concerning the above question: the cryptocurrency market changes in line with Bitcoin. Anytime BTC declines in worth, it affects the whole crypto market. Since BTC has been underperforming since February 2018, XRP’s price was also expected to encounter a similar trend.
Will Fiat Pairing Alter this Tendency?
Yes, as XRP is being made more available via fiat pairings, the tendency of its value being pegged on the price of BTC will evidently change. In addition, XRP is emerging as the base cryptocurrency on numerous business transactions. This will, in turn, make it more liquid and as its liquidity swells, its value will be more stable and less vulnerable to BTC’s manipulation.
Bearing this in mind, it is advisable to invest in XRP with a long-term agenda. Instead of concentrating on the XRP’s current trend, reflect on its achievements in the next five years. The current state of XRP can be equated to that of Amazon in the 90s. presently, Amazon is a trillion-dollar establishment transacting at more than $2000 per share. XRP has the aspects to adopt a similar course in the next few years.
