Ripple (XRP) May Find More Utility in 2021 According to Executive
Asheesh Birla, the Senior Vice President of Business and Corporate Development, has said Ripple--the company behind RippleNet, plans to aggressively expand its software solutions and XRP in 2021. The RippleNet is a suite through which financial institutions can access solutions like the On-Demand Solution (ODL) that uses XRP. Few banks are using XRP for remittance because of a lack of clear rules in the United States.
The expansion of Ripple solutions means the for-profit company may be looking to expand the usage of ODL. XRP is integral to Ripple. As it stands, most financial institutions are connected to RippleNet but choose to use xCurrent, not ODL, partly because of the lack of clear rules in the United States. However, once proper laws are guiding financial institutions, most will opt for XRP. Partners buy XRP from the open markets translating to better prices.
Impact on the XRP Price:
Bullish. Utility translates to demand that in turn props price. The more banks and payment processors use XRP, the odds of the coin rallying back above $1 will be highly likely.
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