Ripple (XRPUSD)

[ap17]

Here's a more detailed and better explanation than mine:

ConfidentialX
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10mo ago
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Edited 10mo ago
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:-

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;

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.