This website uses cookies to ensure you get the best experience on our website
New to trading? CryptoAltum has launched a top-rated cryptocurrency trading course on Udemy! Get the course details here 

Blog

Date:
04th Dec 2020
Author:
CryptoAltum Research Team

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.


Details: 

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.


More market updates on our Blog 


Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.
  • Copyright Excel Innovations Ltd (CryptoAltum) 2020