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- According to “CryptoWhale” the demand for XRP will skyrocket as the US regulation of cryptocurrencies is clarified.
- Ripple relies on the power of ISO20022 standardization within RippleNet to modernize legacy systems.
Popular analyst “CryptoWhale” explained via Twitter in a series of tweets because he is extremely optimistic in the long term about XRP’s price development. The reason for this is that Ripple is the only project on the market that is vigorously pursuing cryptocurrency regulation. As a result, the XRP token will reap huge benefits once a comprehensive legal framework for cryptocurrencies is in place in the US, 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 wipe out almost all other altcoins and skyrocket demand for XRP.
He also noted that XRP will be widely criticized for being too centralized. However, in his view, this is only due to Ripple’s transparency, which is necessary to partner with government agencies:
Many criticize XRP for being “too centralized”, although this transparency is what governments like. While other projects are all about getting a quick group of new investors to get out of the scam, Ripple has been quietly partnering with government agencies to ensure compliance.
CryptoWhale also revealed that it will increase its XRP holdings once the current price correction in the cryptocurrency market bottoms out.
Once Bitcoin and Alts have finalized their correction, I plan to increase my exposure to XRP. I have been involved with XRP since 2013 and let me tell you. There is a reason why he has always held his place in the top 3-5.
Ripple relies on the power of ISO20022 standardization
In another tweet, the analyst also highlighted the importance of Ripple’s compliance with ISO20022 for standardized payments. As reported by CNF, Ripple was the first DLT-oriented company to join the ISO 20022 standards committee for cross-border payments in May. Membership allows Ripple to help shape the future direction of cross-border payments.
Yesterday, Ripple also released a new blog post on ISO 20022 in which the San Francisco-based company described the “power of ISO standardization” and the “new technology approach of RippleNet”. As the post states, Ripple “is working with banks and payment service providers to modernize legacy systems using blockchain and digital assets.” The solution for this is ISO2022 compliant RippleNet:
Our philosophy is to provide each bank and payment service provider with a real-time connection to a global network called RippleNet which strictly adheres to the ISO2022 standard, allowing these organizations to send and receive payments on behalf of their customers, among themselves immediately, with purpose and transparency, regardless of the amount of money sent or the currencies to and from which it must be sent.
However, being able to send a payment across the border immediately doesn’t solve the whole problem. “This is because the funds need to be placed in the right accounts in the right country at the right time for payments to actually flow,” says Ripple. This need for account pre-financing is eliminated by the solution based on XRP On-Demand Liquidity (ODL), which is also aligned with the ISO2022 standard and is part of RippleNet.
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