Ripple's next 10 years seem to be privileged to become an important player in the global payments market

Ripple's next 10 years seem to be privileged to become an important player in the global payments market

Ripple is expected to become a major force within the global payments market over the next 10 years

If we believe the theories related to XRP, many analysts argue that the digital currency will be one of the most sought after entities in the market by the end of the next decade. While the XRP has slipped and declined substantially from the start of the year, there is no doubt that the future of the digital asset still looks pretty bright.

To further elaborate on this point, we can see that since their inception, Ripple's global payment payment protocols have constantly reached their peak of use throughout the year. Adding to the mix, a myriad of international institutions and conglomerates that are trying to incorporate digital resources into their payment structures, the future of XRP looks pretty bright.

Blockchain promises simplified transnational transactions

It is a widely accepted fact that with the advent of blockchain technology, facilitating cross-border payments has become exponentially easier. This is mainly due to the fact that the blockchain provides a much higher level of transfer speed than the mechanisms that are conventionally used by banks and other similar financial institutions.

In addition, a Ripple 2018 report showed that blockchain is no longer considered an experimental technology by the masses, however, its acceptance is expected to increase more in the next 3-5 years.

Ripple's recent financial journey

Since its release in 2012, Ripple offers a series of banking systems with protocols designed to facilitate more reliable, efficient and faster transactions across international borders.

For example, the recent French company Credit Agricole has announced that it intends to meet with Ripple to increase the speed of its cross-border credit settlement transactions. While further information on the matter still needs to be released, it is stated that Credit Agricole intends to use a blockchain-based structure to cover the monthly salaries of its international employees.

Final take

Ripple has been at the forefront of the main blockchain innovation for some time. Not only that, many cryptanalysts have advertised XRP as one of the most important digital currencies we have on the market today. With that out there, it remains to be seen what the future holds for Ripple.

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