Happiness hovers the crypto space as the prices surge higher. The king of the crypto bitcoin soars over $8500, the price it was at the weekend, towards $9000, leading other altcoins. The ongoing trend indicates high acceptance for digital assets, which will push XRP to the mainstream.
This new trend will as well increase the token security, investors will have more confidence investing in digital assets. The crypto industry has regained all the millions lost during the bearish market.
In the last few days, over $25 billion has been gained back, pushing the market capitalization to $272 billion. Daily volume in the past one month has reached $90 million, growing at $50 percent, doubling the market volume with the period.
Ripple’s Role in the Upstream Movement
Ripple XRP has been positioned as the cryptocurrency that will facilitate crypto acceptance at the enterprise level. Ripple has been progressively working behind the scene, signing up so many financial institutions.
They have been developing technologies and features that will enable the company to take over the global payment.
It is making a long bullish movement, creating a global network of financial institutions to control the cross-border payment industry. This industry aimed to be controlled by Ripple is worth $2.58 trillion.
Why Ripple May Likely Takeover the Global Payment
Ripple’s decentralized financial tools, powered by its native token XRP, enables transactions to be consummated in a jiffy.
It takes about four seconds to make transfers using RippleNet, Ethereum network takes 2-minutes, while Bitcoin can take hours to process transactions.
Ripple network can presently compete with Visa’s throughput of 50,000 TPS, processing 1,500 transactions per second. RippleNet now hosts over 200 financial institutions, the more people interact with the network, the more active it becomes.
Now banks prefer using Ripple tools which enables faster settlement than the US Dollar.
Ripple XRP seems to be the cryptocurrency that will settle the scalability issue that first confronted the first digital asset, bitcoin.
Ripple is working to take cryptocurrency to the level it should be. The RippleNet customer base is growing to surpass the value of its native token in the short term. In the long term, the value of this token XRP is expected to double.