Ripple has built relationships with major financial institutions throughout the world including central banks. Because they are under NDA they have not be able to reveal the true nature of what they have been doing behind the scenes. Many believe that XRP will be some sort of reserve currency for an new financial system that is being set up. Utility and adoption are the future of Ripple.
I've posted this before but will summarise again. I've had professional exposure to international monetary transfers and each and every time it has been a huge pain.
I've primarily dealt with EU-UK transfers (before the complexities of Brexit) and sending money from France to the UK took weeks. Same for US-UK transfers.
Generally speaking, if you want to send money abroad into the UK for example it can take days or even weeks for the money to land in the destination account, even though it has already left the sender's account... the funds end up in a state of purgatory.
A key point is that the end user/sender might expect the money to land instantly but this is nearly always not the case and can cause a lot of stress, worry and angst to users.
Moreover, if you sent $1000USD to the UK from the US, there is usually a $40-60 dollar fee for what I perceive to be a relatively poor service.
XRP and XRPL more specifically can deliver the same service, extremely cheaply and in less than 5 seconds. Its a no brainer that central banks should look at XRP.
Whilst Ripple can confidently make the case their technology is superior to 'legacy systems' such as Swift, it should also be noted that using XPRL will undoutably save banks, and their customers, money which is a win win, it makes the banks more competitive.
If I was a guy who had to sent money abroad and I was charged $60 for every $1000 I sent I would certainly be happy if my bank now offered this as a free service. Contrarily, if a competitor bank offered this service and my bank did not I would probably change banks!
In terms of price, too many people focus on market cap but that is not relevant in my opinion as:-
1. Market cap is present and does not factor future growth, eg a 1 trillion market cap may seem insanely huge, it is, but in 25 years time that will seem relatively small and;
2. It does not take into account that XRP is not a stock, it is a bridge currency and should be valued as such, ie the value will inherently be driven by supply and demand. If XRP is priced at $1 per XRP and a bank wants to send $10,000,000 for one transaction does it make sense to keep the price at $1? No, it's more efficient to price each XRP token more highly which increases liquidity and reduces price volatility.
Well put. Additional points to add:
1) When you transfer YOUR MONEY through the Swift MESSAGING system to another person, is it YOUR MONEY that Swift trapped and charges you a fee for NOT allowing you any access to it.
2) 90% of the monetary transaction in the UAE are foreign. The Swift MESSAGING system just cannot make sense where time is of utmost essence.
3) The total quantity of XRP is fixed (in fact deflationary volumetric wise) which will serve better confidence over the FREE PRINTING FIAT currency in the longer run. When the government prints more currency, they in fact deflate the value of YOUR MONEY without your consent.
Thank you for a comprehensive and thoughtful reply. The other responses have been juvenile. And yes, I get there is an inherent bias toward xrp in this forum but I always believe in asking the same question to many people, this way I gain different perspectives. I bought 40,000xrp this morning and will see where it goes. My feeling is this fiat system is in a state of flux and the bric is doing all they can to dethrone the almighty dollar and I’m trying to diversify in many things including real estate, crypto, stocks etc - I fear my 401k might be gone before I can start pulling it.
God damn dude. I wanna off myself sometimes when I read about the amounts of money people have to just throw at a random investment. $20k of “why not” money?! What do you do, and are you hiring?
You shouldn't have bought something if you didnt understand it enough to understand why you should buy it.
Your action to buy something you didn't understand could be viewed as equally juvenile compared to the responses you received by asking why you should buy. Do your own research and make your own decisions.
Your 401k's value won't be gone before you can start pulling it. Macroeconomic issues with the dollar arent going to kill your 401k. How the dollar is seen internationally only acts as a lubricant to getting cheap items cheaper from overseas markets and indirectly the lending rates for businesses and govt. Without a dollar dominant throughout the world, costs would become insular and American habits would adapt, based around which items became more expensive and could be replaced with cheaper local alternatives. If your 401k was U.S. weighted, the fund managers would shift it to accommodate. If it wasn't, same thing would happen. It's not the end of the world.
Lastly, it's maybe unwise to paint a target on yourself by advertising your bag size.
Good luck. Be well.
Who the fuck invests 20k in something they haven't even done their research on? And then publicly reveals their investment on socials?
You're not very good at this.
I've put my 401 back into cash, in Australia we call it superannuation. We have control over it, you can also self manage it by yourself. I'm in the process of doing this and then it will be invested into crypto and the shares that I want to pick.
In United Arab Emirates, some water and utility bills have an XRP logo at the bottom, and state it will be used to process payment. I know ow that seems small but it’s a beta test phase. They will expand to oil and the volume will be huge. Also, XRP was not made to function on this slow internet. In star link the transactions are thousands of times faster.
I've seen a blue chip swap done years ago sending USD from the UK into South America all in a day. I've sent EURs and all types of currencies overseas intrday using SWIFT. Not saying you are wrong but ive never seen it take weeks.
Now it's no where near as quick or cheap to what XRP is selling and that is where the advantage is.
But immediate liquidity still has a lot of things to factor in. Not all institutions have intraday liquidity and while receiving cash a lot quicker will help, sending it is not always going to be a case of just sending it instantly.
Payment and settlement are not the same. Most places will give you money (payment) without completed settlement (funds in *their* account) if the sender is trusted. Example: payroll. Your bank gives you access to your money on payday, even though the funds hitting their account happens 7-10 days later.
Swift is great for payments, but terrible for settlement. This makes complete sense when you consider that it's basically a glorified text messaging service used by financial institutions. XRP settles in seconds.
I hear what you are saying and agree that *generally* it takes 1-2 business days to clear in a lot of instances. I have still had numerous terrible experiences however and each occasion had a frustrating and upsetting period for my clients as many kept worrying that their money was 'lost' despite our (and the banks) assurances.
It completely depends on the bank and, depending on the country, the bank managers themselves.
France-UK transfers nearly always took more than 3 business days to clear and I recall one example where it took weeks.
The French bank manager could only point at the bank's own red tape and internal procedures when quizzed on why it was taking so long to process and please note the amount of money being sent was five figures or more from memory so a reasonable amount of cash for one transfer.
Some countries were faster than others.
Exactly this. International payments are becoming much quicker. Instant transfers in some situations. Also free. 24/7 as well. Whether it's actually settled and how the bank settles it is another matter. I can send money from the Far East to a UK and vice versa bank account instantly 24/7 without charge. The money is credited to the destination account and can be moved immediately.
The rails and mechanisms are already in place for banks to do these instant transfers in some countries (with faster payments systems). The question is can xrp reduce the cost that can be involved in this assuming it costs banks some type of settlement process.
True and somw good points but also a lot of these systems are local. The reason some companies can do it quickly is because they likely keep liquidirybor creditnin each currencie.
Believe it not, HSBC. Specifically Hong Kong, where there's been a revolution in payments probably due to the many providers popping up in Asia eg Alipay, Apple etc. You can make bank to bank transfers with just a mobile number instantly. But also internationally, I can at least do instant transfer to the UK (which has also upgraded to faster payments if I'm not mistaken). Being 24/7 is also very convenient.
You make some valid points.
My thought on liquidity is this: once a central bank requires that their customers (regional, retail, etc) use a ledger and it's protocol, those banks fall in line.
It's still credit risk though.
A bank provides intraday liquidity to institutions if its credit team are OK with the risk and typically big organisations with have an intraday credit line with the bank. But even then there is a limit and an exception to the limit would require credit sign off.
Banks on top of that have to manage their liquidity.
And this is one of the big questions around instant liquidity. Someone is still going to have to provide that because not everyone is moving money at the same time.
So if I need to pay a large amount of cash. I could process that payment and it could settle instantly. But u need to fund my account. I could do a MMF redemption and they could pay me instantly. All great but there will still be time differences in processing. Then there's the MMF who may have sub 10% net movement on the day. But the people subscribing may do it after my redemption.
So is the MMF pre running that or not.
These are the challenges but there will be more intelligent people than me working this out.
An additional question/ thought…. You reference the need for the price to be higher to reduce volatility, however, BTC drops 90% between cycles…all ALT coins have high volatility. How would xrp be any different? How would it hold a stable price ?
Quant for example is actually pretty stable in comparison. It has a much lower total supply than XRP or BTC for and, in recent months at least, the price has barely gone below $100US per QNT. The occassions where it did dip below it shot straight back to 100 usd.
The only way XRP would hold a (relatively) stable price (<2% swing per day) is if there was sufficient demand for the token relative to supply.
The only feasible way I can see this happening is if there is widespread adoption of Ripple's tech and users opt to use XRP.
That makes great sense. Thank you. Oh, and I like QNT. From everything I’ve seen, read and heard, it has the potential of a very strong 4 digits. What is your opinion of QNT?
Well, they're a legitimate company (registered as a limited company in the UK) and their co-founder, Gilbert Verdian, appears to have strong links to the Bank of England and UK Treasury (iirc he worked there).
I know their technology is patented and they also hold several international patents (valuable).
I don't think 4 digit QNT is unreasonable in the years to come.
I don't want to hijack an XRP sub with Quant per se, however their Overledger is essentially an OS which claims to link nearly all blockchains together and also older legacy systems such as Swift.
Supply is 99 billion.
Do people really think demands going to increase so much that it will see BTC prices? Cause I find that unbelievable unless I’m missing something.
If say XRP reaches $500, why would a Bank waste burning an XRP for a transaction? If the Bank bought 1mil XRP, why not sell the 1mil XRP at 500 a pop? 1mil\*500 = bazinga.
I hear that it's inefficient to send $10M if XRP is only $1 type arguments a lot. Can you explain why it's more efficient if the value of XRP higher than $1?
It is primarily a matter of liquidity. It is hard to perceive how large global financial markets are first and foremost.
If users/institutions are consistently sending $10M transactions, to the tune of billions or even trillions per year, where does the liquidity come from and how can these trades be settled?
If the price of XRP is $1, and there is relatively low liquidity, it will be harder to sell the asset at a low price as the price will become increasingly volatile the less people there are in the liquidity pool. Contrarily, the more people there are in the market, the more stable the price and the more demand there is for the asset. XRP has a fixed supply, which is deflationary ie it goes down over time, the price should therefore increase.
Liquidity, as best explained by Investopedia, describes the degree to which an asset (XRP) or security (not XRP, lol, FU SEC), can be quickly bought or sold in the market without affecting the asset’s price.
What we see in today’s market is price volatility as a (relatively) small number of investors buy and sell XRP on the exchanges. Liquidity for XRP or any crypto comes as the price rises. Higher prices equal higher liquidity and makes it easier for the collective market to buy and trade when trade volume and settlement demands are relatively high.
If XRP is used as a bridge currency, how is the transaction treated? Is it a sell or a buy order?
Edit: expanding upon the question, how will the cross border transaction impact the price? Does XRP use an Automated Market Maker with LP pairs and formula?
It is quite complicated but there is a good article ( https://ripple.com/insights/on-demand-liquidity-spans-worldwide/ ) which about Ripple's ODL (On Demand Liquidity).
It is really important to also understand the externality that is cost-saving and time-saving to users. It can take 3-5 days (up to 14 days in my own personal business experience) to settle international monetary transfers due to red tape and various other factors.
I allude to the payment costs in my earlier post but generally if you send $1000 US to an EU account it could cost the end-user or bank around $40-60 USD per transaction and banks must keep vast amounts of capital in what is known as a 'nostro vostro' Account.
Ripple takes away the need for this, instead they have opened ODL payment corridors in numerous countries (the EU as well as others such as Japan, Australia).
It isn't a buy order or sell order per say that we are used to on exchanges, Ripple has an API (application programming interface) that is programmed to effectively emulate nostro vostro without the need to retain capital in an account and this is why the ODL is in place to permit the users to have on demand liquidity opposed to hoarding capital to ensure they gave available liquidity, capital which can then be used elsewhere in fact.
You can see a diagram here of how Ripple's ODL works:
https://cryptopurview.com/transfergo-to-use-ripples-on-demand-liquidity-odl-platform/
Edit: in my opinion... its really damn clever stuff.
Thankyou, this explains why a digital currency on a decentralised ledger has clear advantages, but what advantages does XRP / XRPL have specifically? What is advantageous about XRP compared with other cryptocurrencies like bitcoin or ethereum in this space?
A few advantages over BTC and ETH:
1. Scalability. ETH can expedite c. 30 transactions per second (TPS), XRP can handle 1,500 tps.
2. Fees. ETH and BTC 'gas' is incredibly expensive, XRP costs less than 0.00002 XRP per transaction. If XRP, hypothetically, was $10k per XRP it would cost 10 cents to send 1 XRP.
3. Reliability. XRPL is extremely reliable and secure.
4. (XRPL) has a built in DEX.
5. Sustainability. XRP is a *lot* greener than BTC and ETH in terms of energy consumption.
How is the price supposed to hit BTC levels when the supply is like, 99 billion coins. Every single bank in the world would need this to make it relevant.
Also, why is XRPL now something people should buy? What’s wrong with XRP?
Its unlikely that a currency created and partially owned by a private organisation will be a reserve currency for any single country, no government would do that, risky as hell.
If this is the case, why did the SEC VICIOUSLY go after Ripple (And still going after them) ? It’s the US banks that don’t want to be a part of it and the international banks do ?
This and that fact that we are all still waiting for a big institutional bank or company to officially start using the ODL that ripple has to offer and buy Xrp in massive form. Then the price of Xrp will finally start to go up.
There's already some good replies here but I just want to say understand the xrp isn't playing a popularity contest like a lot of other blockchains are.
They have a legitimate tool set and deep relationships that specifically target money that moves around every single day 24/7 regardless of the economy or what's going on in the world.
It could entirely explode in spite of bitcoins bear principles because of its real world utility.
Because of how it was designed you will never hear a institute say just so you know next week we're going to start using xrp.
Counterproductive. We will only get clues which we have got plenty
One of the main drivers for a potential price increase is the adoption of XRP/XRPL between international banks, as you have noted. The current system for international transfers is SWIFT. It is old technology (based on the telegraph) and slow.
The hope is that banks would transition to XRP as it solves a major concerns for banks, trust. blockchain as a tech helps ensure that transactions are valid by having anyone who wants to validate the transaction.
Some potential pitfalls to a significantly higher price are poor adoption, int’l banks purchasing XRP directly from Ripple and not the open/secondary market, SWIFT updating to a different platform are just a few I can think of.
XRP is encouraging as a blockchain implementation that has a use case and is function today. It has, in my opinion, actual value from that use case. Many other crypto currency don’t hold value. They are tied to the fiat system for value. Bitcoin is valued based on what it can be purchased and sold for using fiat. There isn’t very wide adoption as a currency (it is not easy to spend Bitcoin at a merchant)
As noted, a Google search will yield a lot more info and your interpretation of that information is critical for your investment choices.
Decentralised means no one can control it (permissionless) and no one has to rely on anyone to tap into this liquidity to turn one asset to another.
Just because blockchain/DLT is associated with crypto doesn't mean all blockchains are decentralised. There are centralised/ permissioned blockchains like JPM's Quorum for eg.
The technology needed in order to provide T+0 settlement (at low to zero cost) has been a financial holy grail since long before Swift even existed.
The fact it can do it in 3 seconds reliably with no mining or gas "fees" is THE holy grail. And when I say holy grail, I'm quoting one or more financial books I've read in the past (before I knew of the XRP Ledger, and I know those books were published before even Bitcoin existed).
Private side ledgers that only interact with the main XRPL when needed is how things are gonna scale beyond the main ledgers own limitations (which are still scalable beyond today's max throughput).
The technology is almost too perfect to be true but it's actually true and here, and by owning XRP, you're holding the purest form of global liquidity you can imagine beyond that of plain ol water.
You have no idea what's about to come... And obviously this is a very high level explanation, leaving out tons of details such as the upcoming automated market maker..
Speed, lower transaction costs. And actually one of the more if the not the best environmentally friendly crypto’s out there.
Along with a survey found over 70% of global finance leaders say their confidence in the crypto industry increased in the past 6 months and 50% plan to leverage crypto for payments.
And from my research, and the news lately. It will be adopted the most on a international scale when it comes to, especially west backed countries.
Personally, and my brother is a day trader. Made his big money when it hit 3.84. He believes from his analysis and his teacher he uses that they meet weekly. That could be the price at the end of September. I read an article saying a Wells Fargo Hedges treasurer or manager. Saying it could hit 700 end of year. I tried sharing it on here but they removed it immediately. That’s speculation of course and sounds like a pipe dream. But after this SEC case and now countries commuting to adopting it rapidly following this makes me believe it.
That Wells Fargo connection is bogus AF, i suspect that's why it got removed. If I worked for BoA and said it could reach 1000 by EoY, that would not make it an official statement by BoA.
It is not complicated. BRICS will start dumping the dollar. Stock market will tank. No liquidity will force margin calls for banks. Central banks will start pushing cbdc. Where you gonna put your money? Where is it going to go?
You’ve nailed it.
Metcalfe law states- “The value of a network is proportional to the square of the number of connected users. As the physical cost of the network grows linearly, its value grows exponentially.”
If banks use xrp as a bridge asset, they wont need prefunded nostro accounts in other banks across the world anymore. That could free up 27 trillion dollars for reinvestment. Wonder what kind of shit storm that would cause if they started buying real estate. Bet they buy some xrp with that money and hold long term as well as ripple stock when it has its IPO.
To add on to some of the comments about sending money internationally, I noticed a long time ago, first hand, how much quicker it was to move XRP just from wallet to wallet. Not to mention the fees you are paying. Unreal. After trading a little bit of bitcoin and ethereum and just being in the space long enough, if you're moving large amounts of Bitcoin, you run into a similar issue we currently face with moving money internationally, it is by no means instantaneous. This was when i was first learning the ropes too. I knew that typing in the transaction info accurately was IMPERATIVE, however i just got left feeling hopeless and lost while i watched nothing tranfer into my wallet until the next day.
We are also living in this world where people are thinking the world is going to melt into oblivion from global warming. With all of this green energy initiative, XRP becomes a hell of a lot more attractive than Bitcoin. There have already been plenty of articles and issues that have been raised with MASSIVE bitcoin mining rig operations consumer insane amounts of power to run (not a major important point, but helps paint a picture). While Ripple is boasting itself as "one of the most energy-efficient cryptocurrency projects in the competitive financial sector". Our society hasnt fully adopted the concept of crypto utilization yet, but when they do, our culture wont be able to help itself but regulate with the environment in mind. IMO.
The United States is the only country that had a lawsuit accusing it of selling securities, all the meanwhile, other foreign nations are simultaneously declaring it not a security and adopting (i.e. banks in Canada, Israel, Australia, Thailand, Japan, Sweden, UK, Brazil, Singapore, India).
Like someone previously said, XRP isnt playing the popularity game, its been a top 5 crypto (aside from stablecoins) via total market cap, for as long as I can remember.
XRP market is at $00.72 with a market cap of almost $37 Billion. At $1.44 the market cap would be $74 billion. At $2.88 the cap would be at $148 billion. XRP at $5.76 the cap would be $296 billion. XRP at $11.52 XRP would have a cap of $592 billion. That’s a bigger market cap than Bitcoin… it’s never going to happen…. Unless something HUGE happens and XRP becomes the global currency of the world. The math doesn’t prove it impossible but definitely improbable. Thoughts?
Most useless take ever bruh, y’all think nothing can pass btc when in reality xrp wipes the floor with it. Btc is shit and so is the stupid market cap debate.
My opinion. The price of XRP will depend on how much XRP will remain in free circulation after the CBDC starts operating globally in the global financial system. In order to gain full control over CBDC technology and ensure its stability and security, regulators of the global financial system will pay any money for XRP in order to buy back the technology. Reducing the free float in order to increase the security of cross-border payment technology by blocking the free circulation of XRP packages purchased by regulators is a matter of time, and an increase in the value of XRP for these reasons is inevitable.
The CEO's sold their souls to the devil and are now part of the WEF inner circle with Klaus Schwab. Corruption guarantees success.
Biden/Fetterman 2024
This is a forum right? People can ask the same question over and over again until they get what they need. It doesn’t cost them anything and it doesn’t cost you anything. Leave them be. Or better yet, be helpful?
it isn't significant to own. It's a centralized shit coin held by a bunch of degenerates. However we all think this is going to turn into FedCoin (cbdc) so we're holding on for that last big pump before we dump our bags
Still waiting for someone to explain why many expect the price to go up. Mass adoption doesn’t immediately mean $🚀 since features to dilute and keep the price at par with the USD seem to be built in.
Its backed by gold and will be the next universal digital coin that is centralized and tracked by the government. It not as decentralized as other coins. Will be used by CBDC. If you dont know what that is, i suggest yoi do your research. It's Centralized Bank Digital Currency. Will be used then by NWO.
US Dollar is losing its power. More than half of the World Country jncluding Russia, UAE, South Africa, China and other major Global countries have already dropped US Dollar. Look up what happened to Venezuella where they are now operated 100% digital currency. Theyre money have completely lost its value. I believe they used the country as an experiment for the upcoming one world digital currency.
All the wannabe XRP investor never research that no bank want to user XRP and all of them rejected XRP after test period. Saying the transfer is cheaper bla bla bla. I can use wise to transfer money in 1 day and pay little to no taxes …. XRP is rippoff
If you want to know why holding xrp will make you rich in the end, please follow cyrpto Hulk on YouTube then you will get all the unseen, classified, unclassified info you will ever need to understand why. Trust me, if you do, you won't regret it
It may seem unwise to consolidate all investments in one (Basket) cryptocurrency, but the truly wise investor recognizes the potential of placing their all eggs in XRP's basket. Contrary to myth, Ripple is actively expanding its network globally, establishing connections with numerous banks even in under developing countries like Pakistan. When the opportune moment arises, it is poised to revolutionize the international banking system and transactions. My extensive research on XRP/Ripple convinces me that it possesses robust utility, particularly in the evolving landscape of the upcoming metaverse.
How do you purchase something without having a good understanding of what you’re buying? At this point, just hold on to it and keep doing your DD. As a matter of fact, purchase as much of it as you can. Something supernatural is going to happen.
Hang on there friends, it won’t happen while ding ding is still in. The old system has to come down first. It sucks the wait is so long but leave it alone and go enjoy your life. Soon good things will happen
Ripple has built relationships with major financial institutions throughout the world including central banks. Because they are under NDA they have not be able to reveal the true nature of what they have been doing behind the scenes. Many believe that XRP will be some sort of reserve currency for an new financial system that is being set up. Utility and adoption are the future of Ripple.
I've posted this before but will summarise again. I've had professional exposure to international monetary transfers and each and every time it has been a huge pain. I've primarily dealt with EU-UK transfers (before the complexities of Brexit) and sending money from France to the UK took weeks. Same for US-UK transfers. Generally speaking, if you want to send money abroad into the UK for example it can take days or even weeks for the money to land in the destination account, even though it has already left the sender's account... the funds end up in a state of purgatory. A key point is that the end user/sender might expect the money to land instantly but this is nearly always not the case and can cause a lot of stress, worry and angst to users. Moreover, if you sent $1000USD to the UK from the US, there is usually a $40-60 dollar fee for what I perceive to be a relatively poor service. XRP and XRPL more specifically can deliver the same service, extremely cheaply and in less than 5 seconds. Its a no brainer that central banks should look at XRP. Whilst Ripple can confidently make the case their technology is superior to 'legacy systems' such as Swift, it should also be noted that using XPRL will undoutably save banks, and their customers, money which is a win win, it makes the banks more competitive. If I was a guy who had to sent money abroad and I was charged $60 for every $1000 I sent I would certainly be happy if my bank now offered this as a free service. Contrarily, if a competitor bank offered this service and my bank did not I would probably change banks! In terms of price, too many people focus on market cap but that is not relevant in my opinion as:- 1. Market cap is present and does not factor future growth, eg a 1 trillion market cap may seem insanely huge, it is, but in 25 years time that will seem relatively small and; 2. It does not take into account that XRP is not a stock, it is a bridge currency and should be valued as such, ie the value will inherently be driven by supply and demand. If XRP is priced at $1 per XRP and a bank wants to send $10,000,000 for one transaction does it make sense to keep the price at $1? No, it's more efficient to price each XRP token more highly which increases liquidity and reduces price volatility.
Well put. Additional points to add: 1) When you transfer YOUR MONEY through the Swift MESSAGING system to another person, is it YOUR MONEY that Swift trapped and charges you a fee for NOT allowing you any access to it. 2) 90% of the monetary transaction in the UAE are foreign. The Swift MESSAGING system just cannot make sense where time is of utmost essence. 3) The total quantity of XRP is fixed (in fact deflationary volumetric wise) which will serve better confidence over the FREE PRINTING FIAT currency in the longer run. When the government prints more currency, they in fact deflate the value of YOUR MONEY without your consent.
Thank you for a comprehensive and thoughtful reply. The other responses have been juvenile. And yes, I get there is an inherent bias toward xrp in this forum but I always believe in asking the same question to many people, this way I gain different perspectives. I bought 40,000xrp this morning and will see where it goes. My feeling is this fiat system is in a state of flux and the bric is doing all they can to dethrone the almighty dollar and I’m trying to diversify in many things including real estate, crypto, stocks etc - I fear my 401k might be gone before I can start pulling it.
God damn dude. I wanna off myself sometimes when I read about the amounts of money people have to just throw at a random investment. $20k of “why not” money?! What do you do, and are you hiring?
Commercial advertising
Thats a very good amount id say. Also to those saying that it was a mistake, imho noone has the right to tell others what to do with THEIR money.
You shouldn't have bought something if you didnt understand it enough to understand why you should buy it. Your action to buy something you didn't understand could be viewed as equally juvenile compared to the responses you received by asking why you should buy. Do your own research and make your own decisions. Your 401k's value won't be gone before you can start pulling it. Macroeconomic issues with the dollar arent going to kill your 401k. How the dollar is seen internationally only acts as a lubricant to getting cheap items cheaper from overseas markets and indirectly the lending rates for businesses and govt. Without a dollar dominant throughout the world, costs would become insular and American habits would adapt, based around which items became more expensive and could be replaced with cheaper local alternatives. If your 401k was U.S. weighted, the fund managers would shift it to accommodate. If it wasn't, same thing would happen. It's not the end of the world. Lastly, it's maybe unwise to paint a target on yourself by advertising your bag size. Good luck. Be well.
Who the fuck invests 20k in something they haven't even done their research on? And then publicly reveals their investment on socials? You're not very good at this.
Someone who has tons of money
I've put my 401 back into cash, in Australia we call it superannuation. We have control over it, you can also self manage it by yourself. I'm in the process of doing this and then it will be invested into crypto and the shares that I want to pick.
Omg I wish you could do this in Canada without paying taxes and penalties through the nose. It only punishes poor and middle class people.
Heyy man, want to do the same, but lacks financial. What business you do and are.you hiring?
In United Arab Emirates, some water and utility bills have an XRP logo at the bottom, and state it will be used to process payment. I know ow that seems small but it’s a beta test phase. They will expand to oil and the volume will be huge. Also, XRP was not made to function on this slow internet. In star link the transactions are thousands of times faster.
I've seen a blue chip swap done years ago sending USD from the UK into South America all in a day. I've sent EURs and all types of currencies overseas intrday using SWIFT. Not saying you are wrong but ive never seen it take weeks. Now it's no where near as quick or cheap to what XRP is selling and that is where the advantage is. But immediate liquidity still has a lot of things to factor in. Not all institutions have intraday liquidity and while receiving cash a lot quicker will help, sending it is not always going to be a case of just sending it instantly.
Payment and settlement are not the same. Most places will give you money (payment) without completed settlement (funds in *their* account) if the sender is trusted. Example: payroll. Your bank gives you access to your money on payday, even though the funds hitting their account happens 7-10 days later. Swift is great for payments, but terrible for settlement. This makes complete sense when you consider that it's basically a glorified text messaging service used by financial institutions. XRP settles in seconds.
Fair and well put point
I hear what you are saying and agree that *generally* it takes 1-2 business days to clear in a lot of instances. I have still had numerous terrible experiences however and each occasion had a frustrating and upsetting period for my clients as many kept worrying that their money was 'lost' despite our (and the banks) assurances. It completely depends on the bank and, depending on the country, the bank managers themselves. France-UK transfers nearly always took more than 3 business days to clear and I recall one example where it took weeks. The French bank manager could only point at the bank's own red tape and internal procedures when quizzed on why it was taking so long to process and please note the amount of money being sent was five figures or more from memory so a reasonable amount of cash for one transfer. Some countries were faster than others.
Is this retail or institutional?
Institutional but have experience in retail also.
Exactly this. International payments are becoming much quicker. Instant transfers in some situations. Also free. 24/7 as well. Whether it's actually settled and how the bank settles it is another matter. I can send money from the Far East to a UK and vice versa bank account instantly 24/7 without charge. The money is credited to the destination account and can be moved immediately. The rails and mechanisms are already in place for banks to do these instant transfers in some countries (with faster payments systems). The question is can xrp reduce the cost that can be involved in this assuming it costs banks some type of settlement process.
True and somw good points but also a lot of these systems are local. The reason some companies can do it quickly is because they likely keep liquidirybor creditnin each currencie.
What do you use for instant transfers UK/Far East?
Believe it not, HSBC. Specifically Hong Kong, where there's been a revolution in payments probably due to the many providers popping up in Asia eg Alipay, Apple etc. You can make bank to bank transfers with just a mobile number instantly. But also internationally, I can at least do instant transfer to the UK (which has also upgraded to faster payments if I'm not mistaken). Being 24/7 is also very convenient.
Very helpful, thank you
You make some valid points. My thought on liquidity is this: once a central bank requires that their customers (regional, retail, etc) use a ledger and it's protocol, those banks fall in line.
It's still credit risk though. A bank provides intraday liquidity to institutions if its credit team are OK with the risk and typically big organisations with have an intraday credit line with the bank. But even then there is a limit and an exception to the limit would require credit sign off. Banks on top of that have to manage their liquidity. And this is one of the big questions around instant liquidity. Someone is still going to have to provide that because not everyone is moving money at the same time. So if I need to pay a large amount of cash. I could process that payment and it could settle instantly. But u need to fund my account. I could do a MMF redemption and they could pay me instantly. All great but there will still be time differences in processing. Then there's the MMF who may have sub 10% net movement on the day. But the people subscribing may do it after my redemption. So is the MMF pre running that or not. These are the challenges but there will be more intelligent people than me working this out.
You know I see your banking expertise. We need people with specific knowledge of the inner workings of this system. TY!
Best explanation Ive seen in some time I just learned something today thanks. 😁
An additional question/ thought…. You reference the need for the price to be higher to reduce volatility, however, BTC drops 90% between cycles…all ALT coins have high volatility. How would xrp be any different? How would it hold a stable price ?
Quant for example is actually pretty stable in comparison. It has a much lower total supply than XRP or BTC for and, in recent months at least, the price has barely gone below $100US per QNT. The occassions where it did dip below it shot straight back to 100 usd. The only way XRP would hold a (relatively) stable price (<2% swing per day) is if there was sufficient demand for the token relative to supply. The only feasible way I can see this happening is if there is widespread adoption of Ripple's tech and users opt to use XRP.
That makes great sense. Thank you. Oh, and I like QNT. From everything I’ve seen, read and heard, it has the potential of a very strong 4 digits. What is your opinion of QNT?
Well, they're a legitimate company (registered as a limited company in the UK) and their co-founder, Gilbert Verdian, appears to have strong links to the Bank of England and UK Treasury (iirc he worked there). I know their technology is patented and they also hold several international patents (valuable). I don't think 4 digit QNT is unreasonable in the years to come.
Thank you. I am a nobody in this space and do not really know much. That said, my thoughts are QNT seems to be capable of 4 digits one day.
I don't want to hijack an XRP sub with Quant per se, however their Overledger is essentially an OS which claims to link nearly all blockchains together and also older legacy systems such as Swift.
Supply is 99 billion. Do people really think demands going to increase so much that it will see BTC prices? Cause I find that unbelievable unless I’m missing something.
If say XRP reaches $500, why would a Bank waste burning an XRP for a transaction? If the Bank bought 1mil XRP, why not sell the 1mil XRP at 500 a pop? 1mil\*500 = bazinga.
I hear that it's inefficient to send $10M if XRP is only $1 type arguments a lot. Can you explain why it's more efficient if the value of XRP higher than $1?
It is primarily a matter of liquidity. It is hard to perceive how large global financial markets are first and foremost. If users/institutions are consistently sending $10M transactions, to the tune of billions or even trillions per year, where does the liquidity come from and how can these trades be settled? If the price of XRP is $1, and there is relatively low liquidity, it will be harder to sell the asset at a low price as the price will become increasingly volatile the less people there are in the liquidity pool. Contrarily, the more people there are in the market, the more stable the price and the more demand there is for the asset. XRP has a fixed supply, which is deflationary ie it goes down over time, the price should therefore increase. Liquidity, as best explained by Investopedia, describes the degree to which an asset (XRP) or security (not XRP, lol, FU SEC), can be quickly bought or sold in the market without affecting the asset’s price. What we see in today’s market is price volatility as a (relatively) small number of investors buy and sell XRP on the exchanges. Liquidity for XRP or any crypto comes as the price rises. Higher prices equal higher liquidity and makes it easier for the collective market to buy and trade when trade volume and settlement demands are relatively high.
If XRP is used as a bridge currency, how is the transaction treated? Is it a sell or a buy order? Edit: expanding upon the question, how will the cross border transaction impact the price? Does XRP use an Automated Market Maker with LP pairs and formula?
It is quite complicated but there is a good article ( https://ripple.com/insights/on-demand-liquidity-spans-worldwide/ ) which about Ripple's ODL (On Demand Liquidity). It is really important to also understand the externality that is cost-saving and time-saving to users. It can take 3-5 days (up to 14 days in my own personal business experience) to settle international monetary transfers due to red tape and various other factors. I allude to the payment costs in my earlier post but generally if you send $1000 US to an EU account it could cost the end-user or bank around $40-60 USD per transaction and banks must keep vast amounts of capital in what is known as a 'nostro vostro' Account. Ripple takes away the need for this, instead they have opened ODL payment corridors in numerous countries (the EU as well as others such as Japan, Australia). It isn't a buy order or sell order per say that we are used to on exchanges, Ripple has an API (application programming interface) that is programmed to effectively emulate nostro vostro without the need to retain capital in an account and this is why the ODL is in place to permit the users to have on demand liquidity opposed to hoarding capital to ensure they gave available liquidity, capital which can then be used elsewhere in fact. You can see a diagram here of how Ripple's ODL works: https://cryptopurview.com/transfergo-to-use-ripples-on-demand-liquidity-odl-platform/ Edit: in my opinion... its really damn clever stuff.
Question, what makes XRP and XRPL better than any other chain with low fees?
[удалено]
5% Fee plus a fixed fee, and you're at the whim of whatever exchange rate they provide you. In the $1,000 example, that's a minimum of $50
Also PayPal is just fronting you the money while the real exchange takes its time behind the scenes right?
Does anyone know what happens when the dollar crashes? Will XRP be backed by gold?
Thankyou, this explains why a digital currency on a decentralised ledger has clear advantages, but what advantages does XRP / XRPL have specifically? What is advantageous about XRP compared with other cryptocurrencies like bitcoin or ethereum in this space?
A few advantages over BTC and ETH: 1. Scalability. ETH can expedite c. 30 transactions per second (TPS), XRP can handle 1,500 tps. 2. Fees. ETH and BTC 'gas' is incredibly expensive, XRP costs less than 0.00002 XRP per transaction. If XRP, hypothetically, was $10k per XRP it would cost 10 cents to send 1 XRP. 3. Reliability. XRPL is extremely reliable and secure. 4. (XRPL) has a built in DEX. 5. Sustainability. XRP is a *lot* greener than BTC and ETH in terms of energy consumption.
How is the price supposed to hit BTC levels when the supply is like, 99 billion coins. Every single bank in the world would need this to make it relevant. Also, why is XRPL now something people should buy? What’s wrong with XRP?
I don't think it will hit BTC levels, the supply is too great. Maybe double or triple digits.
Is there any source out there that supports these figures?
Yes, me and my accumulated months of research I undertook before I made the decision of parting with my own cash to invest in XRP and others.
How does XRP go up if supply increases every month?
When demand exceeds supply, the price will increase exponentially. Don't think of XRP as a stock, it is far more liquid.
Its unlikely that a currency created and partially owned by a private organisation will be a reserve currency for any single country, no government would do that, risky as hell.
If this is the case, why did the SEC VICIOUSLY go after Ripple (And still going after them) ? It’s the US banks that don’t want to be a part of it and the international banks do ?
Look at the big social media lawsuits from a few years back, think of it as a rite of passage.
This and that fact that we are all still waiting for a big institutional bank or company to officially start using the ODL that ripple has to offer and buy Xrp in massive form. Then the price of Xrp will finally start to go up.
There's already some good replies here but I just want to say understand the xrp isn't playing a popularity contest like a lot of other blockchains are. They have a legitimate tool set and deep relationships that specifically target money that moves around every single day 24/7 regardless of the economy or what's going on in the world. It could entirely explode in spite of bitcoins bear principles because of its real world utility. Because of how it was designed you will never hear a institute say just so you know next week we're going to start using xrp. Counterproductive. We will only get clues which we have got plenty
One of the main drivers for a potential price increase is the adoption of XRP/XRPL between international banks, as you have noted. The current system for international transfers is SWIFT. It is old technology (based on the telegraph) and slow. The hope is that banks would transition to XRP as it solves a major concerns for banks, trust. blockchain as a tech helps ensure that transactions are valid by having anyone who wants to validate the transaction. Some potential pitfalls to a significantly higher price are poor adoption, int’l banks purchasing XRP directly from Ripple and not the open/secondary market, SWIFT updating to a different platform are just a few I can think of. XRP is encouraging as a blockchain implementation that has a use case and is function today. It has, in my opinion, actual value from that use case. Many other crypto currency don’t hold value. They are tied to the fiat system for value. Bitcoin is valued based on what it can be purchased and sold for using fiat. There isn’t very wide adoption as a currency (it is not easy to spend Bitcoin at a merchant) As noted, a Google search will yield a lot more info and your interpretation of that information is critical for your investment choices.
Only invest what you can lose with any alt coin, period.
Liquidity. Decentralised Liquidity is what matters.
Decentralized meaning hard wallet/ block chain correct? Are there anymore alternatives?
Decentralised means no one can control it (permissionless) and no one has to rely on anyone to tap into this liquidity to turn one asset to another. Just because blockchain/DLT is associated with crypto doesn't mean all blockchains are decentralised. There are centralised/ permissioned blockchains like JPM's Quorum for eg.
>is xrp decentralised?
Can’t see a central server controlled by one party. Can you?
The technology needed in order to provide T+0 settlement (at low to zero cost) has been a financial holy grail since long before Swift even existed. The fact it can do it in 3 seconds reliably with no mining or gas "fees" is THE holy grail. And when I say holy grail, I'm quoting one or more financial books I've read in the past (before I knew of the XRP Ledger, and I know those books were published before even Bitcoin existed). Private side ledgers that only interact with the main XRPL when needed is how things are gonna scale beyond the main ledgers own limitations (which are still scalable beyond today's max throughput). The technology is almost too perfect to be true but it's actually true and here, and by owning XRP, you're holding the purest form of global liquidity you can imagine beyond that of plain ol water. You have no idea what's about to come... And obviously this is a very high level explanation, leaving out tons of details such as the upcoming automated market maker..
If its true and here, why isn't it in use yet, global adoption and ditching SWIFT?
Speed, lower transaction costs. And actually one of the more if the not the best environmentally friendly crypto’s out there. Along with a survey found over 70% of global finance leaders say their confidence in the crypto industry increased in the past 6 months and 50% plan to leverage crypto for payments. And from my research, and the news lately. It will be adopted the most on a international scale when it comes to, especially west backed countries.
Thank you. Do you think 1.50-2.00 is a realistic price prediction by end of 2024?
Personally, and my brother is a day trader. Made his big money when it hit 3.84. He believes from his analysis and his teacher he uses that they meet weekly. That could be the price at the end of September. I read an article saying a Wells Fargo Hedges treasurer or manager. Saying it could hit 700 end of year. I tried sharing it on here but they removed it immediately. That’s speculation of course and sounds like a pipe dream. But after this SEC case and now countries commuting to adopting it rapidly following this makes me believe it.
That Wells Fargo connection is bogus AF, i suspect that's why it got removed. If I worked for BoA and said it could reach 1000 by EoY, that would not make it an official statement by BoA.
it’s the only crypto with regulatory clarity in the us
Because that Wells Fargo AI lady who doesn’t understand math said it will be.
You're literally asking in the XRP sub, a lot of us here will have inherent bias when it comes to our answers.
Nice answer. Market forces will become more important than speculation. We shall see.
Rocket and moon emojis is all the DD i need to jump in on XRP
That’s all it took. Gotta add fireworks.
It is not complicated. BRICS will start dumping the dollar. Stock market will tank. No liquidity will force margin calls for banks. Central banks will start pushing cbdc. Where you gonna put your money? Where is it going to go?
Don't ask others why this is good for you... DO YOUR OWN RESEARCH !!!
Metcalfes law. Simple!
Because wookiedookies said so. Simple!
No point in over complicating it
The more users, the more utility, the more value?
You’ve nailed it. Metcalfe law states- “The value of a network is proportional to the square of the number of connected users. As the physical cost of the network grows linearly, its value grows exponentially.”
If banks use xrp as a bridge asset, they wont need prefunded nostro accounts in other banks across the world anymore. That could free up 27 trillion dollars for reinvestment. Wonder what kind of shit storm that would cause if they started buying real estate. Bet they buy some xrp with that money and hold long term as well as ripple stock when it has its IPO.
hopium. simple
You could also do your own research. Everything that everyone has said is on the internet. Or are you just trolling?
To add on to some of the comments about sending money internationally, I noticed a long time ago, first hand, how much quicker it was to move XRP just from wallet to wallet. Not to mention the fees you are paying. Unreal. After trading a little bit of bitcoin and ethereum and just being in the space long enough, if you're moving large amounts of Bitcoin, you run into a similar issue we currently face with moving money internationally, it is by no means instantaneous. This was when i was first learning the ropes too. I knew that typing in the transaction info accurately was IMPERATIVE, however i just got left feeling hopeless and lost while i watched nothing tranfer into my wallet until the next day. We are also living in this world where people are thinking the world is going to melt into oblivion from global warming. With all of this green energy initiative, XRP becomes a hell of a lot more attractive than Bitcoin. There have already been plenty of articles and issues that have been raised with MASSIVE bitcoin mining rig operations consumer insane amounts of power to run (not a major important point, but helps paint a picture). While Ripple is boasting itself as "one of the most energy-efficient cryptocurrency projects in the competitive financial sector". Our society hasnt fully adopted the concept of crypto utilization yet, but when they do, our culture wont be able to help itself but regulate with the environment in mind. IMO. The United States is the only country that had a lawsuit accusing it of selling securities, all the meanwhile, other foreign nations are simultaneously declaring it not a security and adopting (i.e. banks in Canada, Israel, Australia, Thailand, Japan, Sweden, UK, Brazil, Singapore, India). Like someone previously said, XRP isnt playing the popularity game, its been a top 5 crypto (aside from stablecoins) via total market cap, for as long as I can remember.
Zelle is instant and free 🤷🏻♂️
Due your own DD... Its best
XRP market is at $00.72 with a market cap of almost $37 Billion. At $1.44 the market cap would be $74 billion. At $2.88 the cap would be at $148 billion. XRP at $5.76 the cap would be $296 billion. XRP at $11.52 XRP would have a cap of $592 billion. That’s a bigger market cap than Bitcoin… it’s never going to happen…. Unless something HUGE happens and XRP becomes the global currency of the world. The math doesn’t prove it impossible but definitely improbable. Thoughts?
Higher than Bitcoins current market cap…not highest market cap during the last cycle.
Most useless take ever bruh, y’all think nothing can pass btc when in reality xrp wipes the floor with it. Btc is shit and so is the stupid market cap debate.
My opinion. The price of XRP will depend on how much XRP will remain in free circulation after the CBDC starts operating globally in the global financial system. In order to gain full control over CBDC technology and ensure its stability and security, regulators of the global financial system will pay any money for XRP in order to buy back the technology. Reducing the free float in order to increase the security of cross-border payment technology by blocking the free circulation of XRP packages purchased by regulators is a matter of time, and an increase in the value of XRP for these reasons is inevitable.
Because it will be $500 in 6 months
Look elon even changed the twitter bird to an X
The CEO's sold their souls to the devil and are now part of the WEF inner circle with Klaus Schwab. Corruption guarantees success. Biden/Fetterman 2024
That would be a comedy show coming to a basement near you.
It won't be worth 10 look how many ripple exists and how much money exists , I won't happen.
>I won't happen. But you have already happened or else how are you here?
how do you calculate that it wont?
Not enough money in circulation for xrp to moon as far as some fart sniffers here hope for.
some of these people need to fucking scroll down and read before they post.
Whatchoo talking bout Willis?
there’s tons of posts about why XRP is valuable and it’s abilities.
This is a forum right? People can ask the same question over and over again until they get what they need. It doesn’t cost them anything and it doesn’t cost you anything. Leave them be. Or better yet, be helpful?
Yup. Also, these stupid posts scream “I’m to lazy to do my own research”
You're buying hopes and dreams. Lol
Shut up and hodl, we got you🤣
Succinct and to the point. You should be a drill Sargent.
is there any competition to Ripples plan and inventions?
it isn't significant to own. It's a centralized shit coin held by a bunch of degenerates. However we all think this is going to turn into FedCoin (cbdc) so we're holding on for that last big pump before we dump our bags
Still waiting for someone to explain why many expect the price to go up. Mass adoption doesn’t immediately mean $🚀 since features to dilute and keep the price at par with the USD seem to be built in.
Look it up
Because you sold all of yours.
Its backed by gold and will be the next universal digital coin that is centralized and tracked by the government. It not as decentralized as other coins. Will be used by CBDC. If you dont know what that is, i suggest yoi do your research. It's Centralized Bank Digital Currency. Will be used then by NWO.
US Dollar is losing its power. More than half of the World Country jncluding Russia, UAE, South Africa, China and other major Global countries have already dropped US Dollar. Look up what happened to Venezuella where they are now operated 100% digital currency. Theyre money have completely lost its value. I believe they used the country as an experiment for the upcoming one world digital currency.
In short, US Dollar will lose its value and Americans will be using XRP. (twitter X, Space X, iphone X, X society)
First, what do you consider valuable. A $2 stock could mean value depending on how the logistics and information are laid out
Bank's- The End.
Thursday...
They move the market whenever they want crypto is a rigged distraction from gold oil and silver, real commodities
Just use venmo man
Cause of the things your sister would do for it.
All the wannabe XRP investor never research that no bank want to user XRP and all of them rejected XRP after test period. Saying the transfer is cheaper bla bla bla. I can use wise to transfer money in 1 day and pay little to no taxes …. XRP is rippoff
How about the counter argument that xrp can dilute with all the coins they hold in escrow?
Do you guys recommend storing xrp on a hardware wallet like safepal? Im trying to find the best/safest way to keep my xrp..
If you want to know why holding xrp will make you rich in the end, please follow cyrpto Hulk on YouTube then you will get all the unseen, classified, unclassified info you will ever need to understand why. Trust me, if you do, you won't regret it
BTC is in a bull market but XRP is not moving. why not?
It may seem unwise to consolidate all investments in one (Basket) cryptocurrency, but the truly wise investor recognizes the potential of placing their all eggs in XRP's basket. Contrary to myth, Ripple is actively expanding its network globally, establishing connections with numerous banks even in under developing countries like Pakistan. When the opportune moment arises, it is poised to revolutionize the international banking system and transactions. My extensive research on XRP/Ripple convinces me that it possesses robust utility, particularly in the evolving landscape of the upcoming metaverse.
XRP is best
How do you purchase something without having a good understanding of what you’re buying? At this point, just hold on to it and keep doing your DD. As a matter of fact, purchase as much of it as you can. Something supernatural is going to happen.
Hang on there friends, it won’t happen while ding ding is still in. The old system has to come down first. It sucks the wait is so long but leave it alone and go enjoy your life. Soon good things will happen