. @ stevenmnuchin1 at #WEF 20 when asked about cryptocurrencies: “There are benefits to cross-border payment systems in lowering costs for consumers and businesses. We absolutely support companies working on this. ” Critical to apply this pragmatism to US regulation. pic.twitter.com/93 e 84 qQW1s
– Brad Garlinghouse (@bgarlinghouse) January 21, 2020
A report by 2018 stipulates that traditional cross-border payment systems gobble up 7% of the amount sent in terms of transaction costs and exchange margin.
Comparatively, the transaction fees using the solutions offered by Ripple and the XRP , amount to 0, 0004 USD.
Ripple whales are playing XRP sardines!
The moving average of XRP over the 5, 10, 20, 50, 100 and 200 days currently range from 0, 21 USD and 0, 26 USD. Its current price is around 0, 23 USD.
We were entitled to expect much, much more after this weight support at XRP . Must we remember that with a single unfortunate public statement by the Chinese president, Bitcoin had reacted with a 40% ? One would have expected something with a secretary to the Treasury, and well not, nada, peanuts.
However, the excitement of the community XRP , displaying their joy and optimism about the future of this crypto which will make them rich, will at least certainly be pleased to Brad Garlinghouse .
But what will happen when the XRP traders and HODlers finally understand that the tokens XRP were created ONLY to ensure the proper functioning of the payment solutions sold by Ripple ?
Will the course of XRP end up exploding all like Bitcoin (BTC) . Not sure given the profound differences in nature of the two active ingredients. The technical director of Ripple David Schwartz confessed in 2018 that the sale of XRP was far more lucrative for the company than selling their software to banks and other financial institutions … far from conventional crypto standards. We understand a little better why Ripple is considered by some to be the “ cryptocurrency of banks that we love to hate ”
What the XRP groupies might forget is that if you have tens of millions or even hundreds millions or billions of XRP in your wallets just like Ripple so, you yes, there may be some reasons to be optimistic and start looking for the yacht of your dreams today! The price of XRP will only increase by a few cents and you will pick up your money with a shovel.
On the other hand, if you intend to keep a few thousand or a few tens of thousands of XRP ( I dare not even say a few dozen or a few hundred), you risk especially picking up crumbs.
Ripple continues to expand its customer network for its cross-border payment solutions and, the XRP community continues to dream of exponential growth in the crypto course. Direct or indirect support for the XRP, like that of the US Secretary of the Treasury, will make this sweet dream last a long time. However, waking up may be difficult.