A Ripple forradalmasítja a globális pénzügyeket? (Angol hír)

Ripple's XRP network cryptocurrency is among the top 10 cryptocurrencies in the world and is compliant with the new ISO20022 payment standard, which will replace the outdated SWIFT system by 2025. The company is focused on optimizing its primarily interbank payment systems but has been in a long-running court dispute with the U.S. Securities and Exchange Commission (SEC). Recently, news has been coming out that could ease supply pressure and reverse sentiment:  

• Cryptocurrency Ripple has scored 9 weeks of consecutive declines and is now nearly 80% below its historic 2018 highs, which were not overcome in the bull market of recent months;

• Ripple CEO, Brad Garlinghouse attended the World Economic Forum in Davos where he commented on the cryptocurrency market situation pointing to the current bull market as a favorable filter for the market and poorly run projects. In an interview with CNBC Garlinhouse also said that fin-tech company Riplle is considering going public as soon as it finishes its dispute with SEC;

• The court war has been going on for several months now over the alleged sale of XRP tokens as 'unregistered securities'. The Ripple side has very strong arguments on its side and for many months experts have seen the company as potentially winning the lawsuit. The U.S. regulators' path of argument has been less consistent along the way, with some members' testimony contradicting the SEC's official position. Additionally, recognizing Ripple from the pa rt in the case would raise powerful implications for the entire industry, which could be accused of selling unregistered securities.

• A potential win could provide fuel for Ripple price increases as well as the crypto market as a whole. The likely end time of the litigation is still being postponed, currently it is early 2023.

• On-chain data provider, Santiment reported recently that large wallets holding between 1 million and 10 million Ripple are in the process of accumulating. Currently, the 'whales' hold the highest percentage of tokens in nearly 2 months at 6.12% of the total available supply;

• The liquidity of XRP tokens on RippleNet in the international market in Q1 2022 was close to $8 billion, nearly 8 times the amount in Q1 2021 which potentially indicates growing demand for the company's services and institutional interest;

• RippleNet made the case that Asian fintech startup, Nium has recently financially connected the Americas with countries in Southeast Asia and Australia allowing payments to be settled there faster with small fees in XRP tokens. Ripple also discussed a potential partnership with the Prime Minister of Georgia, where tokens could make everyday life easier for citizens and make investments in Georgia more attractive and accessible;

• In the future, Ripple will consider a number of acquisitions in the fin-tech and blockchain industries. According to a PwC report, M&A activity in the crypto industry grew in 2021. The global value of such deals was over $55 billion, compared to $1.1 billion in 2020, a nearly 5000% increase. This confirms the growth potential for the industry and Ripple, which intends to revolutionize global payments by cutting costs and speed of transfer.

Ripple chart, D1 interval. The cryptocurrency has been in a downtrend since spring 2021. If sentiment improves, the first resistance according to Fibonacci is located at $0.72 where we see 23.6 retracement. A potential downward price path is not out of the question, however, after such a long downtrend in the past, we often saw a rebound. Source: xStation 5