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XRP may currently be engaged in a tough battle to recover the $ 0.5 brand glory, but that's what Ripple is doing that really matters in the long run. Although the last week was not a regular round for XRP, what's going on behind the scenes may soon be the catalyst that everyone was waiting for.
Ripple and XRP: what is the relationship?
For one, even if Ripple and XRP are two different entities, any Ripple almost certainly has something to do with the mass adoption of XRP. Through Ripple's block-based financial solutions, several major banks have already adopted the use of XRP as the base currency for cross-border transactions.
There are some factors that could potentially catapult XRP into new heights. For beginners, Ripple's xRapid and xCurrent are going great, and even the launch of XPring will bring positive results. Ripple also contacted banks and other financial institutions interested around the world.
RippleNet is a good example of how Ripple's actions have a direct impact on XRP. RippleNet is a network of financial institutions that use Ripple's blockball-based system for faster and cheaper money transfers than SWIFT. These institutions adopt the XRP as an operational currency and feed the mass of cryptography by adopting enormous margins. The ultimate entity that expresses the desire to integrate XRP into its payment solution is the payment service provider based in the United Kingdom, called MoneyNetInt. Such widespread adoption of cryptocurrency could increase demand and ultimately increase the price – and that's all because of Ripple's technology.
What happens if SEC said yes?
Furthermore, there is a lot of optimism regarding the outstanding decision by SEC which is bound to decide whether XRP should be approved as a credible security or not. Given recent developments, particularly those concerning Ripple's growing list of partners in the financial sector, and bearing in mind that the White House has expressed support for Ripple, it is not really far-fetched to expect a positive result.
If the SEC rules in favor of the crypto, things could easily and quickly go North for XRP. That means a massive price increase in a bull run that could last for a while. Some industry analysts have opined that XRP could soon reach the $ 10 mark if things go right. This development would reflect a staggering percentage leap. The XRP is currently at war with the bears and fluctuates around the value of $ 0.45, and any significant positive development could trigger a strong bullish response.
