Ripple prices solid above 34 cents
Will banks shift to xRapid because of the solution’s benefits?
Several analyses show that xRapid is cheap and fast. As such, it is likely that once there is regulatory certainty around XRP, more banks will shift towards xRapid supporting Ripple (XRP) prices.
Ripple Price Analysis
Many proposals will see banker’s profit slashed. One of them is the proposal to shift away from the high-latency messaging network in SWIFT towards a time-saving, cost-saving and the transparent system powered by RippleNet. With xRapid–and through economies of scale, adopting firms can save up to 70 percent should they incorporate the solution.
In a report, Ripple Inc concludes saying:
“Respondent banks that use Ripple with XRP as a bridge currency can save up to 42 percent on costs today, and up to 60 percent as XRP gains usage and volatility decreases. To accelerate market thickness and reduce volatility for XRP, Ripple will soon introduce an XRP incentive program to rebate market makers who provide liquidity through XRP algorithmically.”
This observation sync well with similar analysis that prove that xRapid, a solution that leverage XRP as a medium of exchange and xCurrent rails for functionality is super-fast benefiting the end user. Yesterday, Mercury FX, a payment processing firm that makes use of xRapid, said a customer saved $30k using their rails.
“We just saved a client 30k on moving the cash from selling his house in Australia to the UK. That’s a huge saving compared to what he’d get from the banks – and goes a long way toward paying Stamp Duty on the house here! #BuyCryptoXRP
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