Ripple as an “opportunity for payment transactions”.
For years, Ripple has been referred to as the “bank coin“, which is even expected to compete with Bitcoin for the place in the sun. What has been clear to us for a long time has now also been recognised by Goldman Sachs, which sees Ripple as an opportunity in payment transactions for precisely this reason – the close cooperation with banks. Investors are pleased with this statement and the XRP price continues to rise. Finally, good news for Ripple, which is under pressure due to the SEC complaint. The pro-Ripple stance of the investors is also partly shared by the judges, which is why partial successes have already been achieved.
Among other things, this has also contributed to the price recovery, which once again proves that in the investment business, patience and trust are needed in addition to the right instinct. Ripple can now take another confidence boost with the report by Goldman Sachs entitled “Overview of Digital Assets and Blockchain”, which shows that the investment banking and securities trading firm sees Ripple as a great opportunity in payments.
In good company
Ripple is in good company here: alongside Circle and Coinbase, Ripple is highlighted because of its RippleNet product. RippleNet is a network of institutional payment providers such as banks that use Ripple’s solutions for international money transactions. This also seems logical, as Ripple aims to revolutionise nothing less than international payments. Care must be taken to view the Ripple company separately from the cryptocurrency XRP. Ripple, as the company behind the cryptocurrency XRP, naturally has large amounts of XRP – regardless of this, numerous companies are interested in working with Ripple independently of XRP for the aforementioned reasons.
Apropos XRP: At the moment, Ripple is only allowed to put one billion XRP per month on the market in order not to affect the price of the cryptocurrency too much, nevertheless the price is rising strongly. The XRP price had already risen throughout March. This positive market development is boosting the entire market up to BTC and ADA, with XRP currently ranking sixth among the most valuable cryptocurrencies, just ahead of Ethereum competitor Cardano.
A podium place within reach
If you disregard stablecoins like USDT or USDC, only three cryptocurrencies – BTC, ETH and BNB – are more valuable than XRP at the moment. If Ripple can then prevail in the ongoing legal dispute against the SEC, the XRP price is likely to jump. Many analysts expect this, we hope for it.