- According to “CryptoWhale” the demand for XRP will skyrocket as soon as the US regulation of cryptocurrencies is clarified.
- Ripple relies on the power of ISO20022 standardization within RippleNet to modernize legacy systems.
The popular analyst “CryptoWhale” has explained via Twitter in a series of tweets why he is extremely bullish in the long term for the price development of XRP. The reason for this is that Ripple is the only project on the market that is vigorously pursuing the regulation of cryptocurrencies. As a result, the XRP token will benefit massively once a comprehensive legal framework for cryptocurrencies is in place in the United States, according to CryptoWhale:
The only project in the entire market that is pushing for Crypto Regulations is $XRP. They know that once these regulations are added, it will completely annihilate almost every other altcoin, and make XRP’s demand skyrocket.
He also noted that XRP will be widely criticized for being too centralized. However, in his opinion, this is only due to the transparency of Ripple, which is necessary to cooperate with government agencies:
Many criticize XRP for being “too centralized”, although this transparency is what governments like. While other projects are focused on getting a quick batch of new investors to exit scam, Ripple has quietly been working with government agencies to ensure compliance.
CryptoWhale also revealed that it will increase its XRP holdings once the current price correction in the crypto market bottoms out.
Once Bitcoin and Alts have finalized their correction, I’m planning on increasing my exposure to XRP. I’ve been involved with XRP since 2013, and let me tell you. There’s a reason it’s always held it’s spot in the top 3-5.
Ripple is relying on the power of ISO20022 standardization
In another tweet, the analyst also pointed out the importance of Ripple’s compliance with ISO20022 for standardized payments. As CNF reported, Ripple was the first DLT-oriented company to join the ISO 20022 standards committee for cross-border payments in May. The membership enables Ripple to help shape the future direction of cross-border payments.
Yesterday, Ripple also published a new blog post about ISO 20022 in which the San Francisco-based company described the “power of ISO standardization” and the “new technological approach of RippleNet”. As the post states, Ripple “is working with banks and payment providers to modernize legacy systems using blockchain and digital assets”. The solution for this is the ISO2022 compliant RippleNet:
Our philosophy is to provide each bank and payment provider with a real-time connection to a global network called RippleNet that rigorously adheres to the ISO2022 standard, enabling these organizations to send and receive payments on behalf of their customers, between each other immediately, with finality and transparently—regardless of the amount of money being sent or the currencies that is needs to be sent from and to.
However, the ability to send a payment immediately across borders does not solve the whole problem. “This is because funds need to be placed in the right accounts in the right country at the right time to allow payments to actually flow,” says Ripple. This need for prefunding accounts is eliminated by the XRP based solution On-Demand Liquidity (ODL), which is also aligned with the ISO2022 standard and is part of RippleNet.
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