[ad_1]
The XRP community (XRP) is probably one of the most confident in cryptographic space. They are always bullish, regardless of the direction the coin is taking. Price projections like $ 589 have become a commonly accepted goal in this community. But while these projections may seem outrageous, a look at market trends reveals that permabull XRPs could actually be right. The XRP could be 3 steps from a massive bull run this year or 2019.
The first step was XRapid live. While it was widely anticipated that XRapid would be able to activate an instantaneous bull run on XRP, it was actually just laying the foundations. It has provided the banking industry with the platform to allow them to switch over to the immediate payments. Now that the platform is ready, the next step is to start using it. Considering the bureaucratic nature of most financial institutions, this may take time, but it will happen.
Already a few financial institutions are active with XRapid and even banks will adopt it, out of necessity. The need arises from the fact that society is changing and consumers are demanding faster payments in cross-border payments. Therefore, if banks do not adapt and change, they will lose emerging competitors who offer immediate payments.
In fact, SIBOS 2018 was based on faster payments in the face of growing competition from fintech startups. This is a strong indicator that the banks are heating up with the DLT for immediate payments and the ripple is leading the way with XRapid. With XRapid, a bank can offer immediate payments for cross-border payments and save up to 60% on costs. This will play a role in the transposition of banks on the XRapid platform.
The second step is the development of more strategic partnerships and wider adoption by banks. Recently, the head of the SBI announced that they are examining a project in which R3 Corda could use XRP. This triggered the speculation that the two platforms could work together. This possibility is strengthened by the fact that SBI has acquired interests both in ripple and in R3. If these two platforms worked together, the integration of the banks would be quite fast, and this would increase the impulse that is already growing around the XP.
The third step is a change in the regulatory environment. There is no doubt that the regulatory environment around XRP and cryptocurrencies in general is improving. For example, in Japan and most Asian countries, governments are loosening their position on the crypt. Even in the United States, a number of moves by regulators indicate a scenario in which they are approaching to accept the reality of the crypto. For example, Coinbase has recently been given the approval to offer custody services for XRP and other digital currencies. Once the SEC comes out clearly and states that XRP is a currency, it will open the doors for step 2 (adoption) and unlock the true value of XRP.
The above steps illustrate a good image for XRP and reveal the fact that XRP permabulls may not be disappointed after all. This is a currency that could transform financial markets forever.
