Ripple or XRP is currently reported as the world’s third-largest cryptocurrency. It occupies a steady market capitalization value after Bitcoin and Bitcoin cash and doesn’t compete with any other national digital currencies.
Expert executives of Ripple have time and again reemphasized that this digital currency is not a threat to the forthcoming digital Yuan or any other crypto asset presently available in the market. This gives a clear indication that XRP is about to bring harmony in the volatile market by bridging the gap between the assets and the investors.
Experts have always opined that XRP will have a positive impact on shaping the development of CBDCs and other stable coins. Speaking of the pair trading, the pair implies the amount in dollars at which 1 XRP is traded in the market. The current price of 1 Ripple is about $0.29, which again signifies the ease of trading in the same, and the market stability it brings among all the currencies, digital and traditional alike.
Along these lines, Emi Yoshikawa, the senior director of global operations at Ripple, has established the same claiming that XRP is never meant to compete with any stable coin or other Central Bank digital currencies (CBDC). He also stated that this asset is supposed to be considered to bridge the gap in any international settlement.
There has always been a huge demand for the trades concerning the XRP/USD pairs. It is primarily because Ripple is the easiest trade ever to made. Its simplistic approach has always encouraged investors to try their hands in dealing with cryptocurrencies.
There are a wide range of crypto assets currently available in the market. However, the role of XRP is said to be unabashed.
Developers have designed the settlement product under Ripple’s flagship, on-demand liquidity, or the ODL to combat the cross-border payment issues and operational redundancies. This has made XRP/USD one of the most preferred crypto pairing trends.
Ripple’s ODL, formerly known as xRapid, has also successfully reduced operational costs and eliminated pre-funding in cross-border payments. This makes the flagship Trend the most sought after economic solution while dealing with crypto assets.
The primary objectives of ODL are designed to be in line with some of the existing primary objectives of CBDC and other stablecoins. The developers have designed the XRP to be in similar lines. Some of the existing CBDC products, including China’s digital Yuan, impose an imminent threat to the dominance of SWIFT with its amazing transaction speed. There is a wide range of globally accepted banks, which think that just like the CBDCs; XRP can potentially reduce a huge cost on the different financial operations.
Most experts believe that despite Tether (USDT), the largest stable coin overtook Ripple by market capitalization in May 2020, it still shows growth and delivery potentials. Being the fiat currencies with a ratio of 1:1 to that of the USD, stablecoins contribute a great deal in providing less expensive payment platforms and speeding up settlement times in the global arena. This makes a huge scope to the performance index of XRP/USD shortly.