In a recent interview with CNBC, Ripple’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarbhai, informed the crypto community that the firm was making major strides with regards to its xRapid product. xRapid aims at easing cross border payments for banks and remittance service providers by using XRP as a source of instant liquidity. Transactions are cheap and fast on the XRP ledger thus reducing a transaction that traditionally took 3 days, to 2 – 3 minutes using xRapid.
In the interview, Mr. Sarbhai stated the following:
I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production
He would then go on to add that:
A couple of years ago the narrative was: blockchain good, crypto bad. What we’re now seeing is more and more regulators, policymakers taking the whole space in one conjunction. So, I think that narrative thankfully is now changing because policymakers, regulators are seeing that there is a strong benefit that digital assets, cryptocurrencies bring in.
Why xRapid is the Golden Goose for XRP
Many XRP HODLers have been noted to be a bit worried that their favorite digital asset has fallen by over 90% since its January high of $3.82. Many bought XRP around this time and have watched it tumble in the markets while hoping that it will regain its past glory. Some have even postulated that XRP has been manipulated to lower levels and purposely before xRapid is launched.
This theory puts forth the idea that XRP Whales are aware that xRapid is the Golden Goose that will take XRP to the stratosphere in terms of value. The fact that Ripple has partnered with Bittrex, Bitson and Coins.ph exchanges to source the instant XRP liquidity needed for cross border transactions, means that there will be constant demand for XRP in the markets to power this service. Demand means an increase in value for XRP.
But to What Levels?
In the current bear market, it is hard to predict how high XRP will go when xRapid finally goes live. The hype behind the launch of such a product will surely amplify the demand for the digital asset by crypto traders.
What we can therefore conclude is that xRapid is the Golden Goose that every HODLer has been waiting to take XRP to new levels in the markets.