A popular crypto analyst by the pseudonym “CryptoWhale” has recently explained that more than any other crypto project in the ecosystem, XRP and Ripple are working hard to ensure mainstream adoption of cryptocurrency by working towards achieving regulatory clarity.
CryptoWhale said this in a tweet, affirming that even though many criticize XRP as a centralized crypto project, Ripple has been working with government agencies quietly to ensure crypto compliance. The analyst added that XRP transparency is what governments really want and appreciate.
While Ripple is pushing hard for crypto regulations, other projects are more dedicated to getting investors quickly to exit scam, CryptoWhale said, averring that once there is regulation clarity, XRP demand will skyrocket largely. However, most other altcoins would be annihilated.
CryptoWhale is extremely bullish on the price of XRP in the long term due to some of the actions of the crypto and Ripple. He believes a comprehensive legal framework for cryptocurrencies would largely benefit XRP.
CryptoWhale to Increase His XRP holding
With much expectation that the price of the fourth-largest cryptocurrency by market cap will increase greatly, analyst CryptoWhale revealed that he has plans on increasing his XRP holding.
When will he make the increase? CryptoWhale said he’s waiting for Bitcoin and altcoins to complete their correction. The analyst who has been involved with XRP since 2013 thinks that is the best time to buy more quantity of XRP.
While eulogizing the remittance-oriented cryptocurrency, CryptoWhale said XRP has always stayed above the position 6 in the market table, and there is a reason for that.
Joining the ISO 20022 Standards Committee is a Blessing for Ripple
To ensure easy transfer of remittance data electronically between financial institutions, Ripple joined the ISO 20022 standards in May 2020, Newslogical said. CrytoWhale sees this as a great opportunity for Ripple to flourish in the payment industry.
Not long, Ripple in a release said the power of ISO standardization and RippleNet has helped refined the cross-border payments sector. The San Francisco-based company said XRP and blockchain technology would help make the cross-border more frictionless.
Ripple said the RippleNet solution strictly adheres to the ISO 20022 standards, and it is focused on offering bank and payment provider real-time connection to the technology, this will let the payment companies send and receive money on their customers’ behalf almost instantly.
Ripple furthered that it has stepped forward in solving cross-border payment challenges by proffering solution to the problem of account prefunding abroad with the invention of the On-Demand Liquidity (ODL) product that makes use of XRP in making immediate fund remittance.