Is XRP Holding Ripple Back?
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One of the biggest analysts in the world working at Bloomberg, Mike McGlone believes that ripple has what it takes to disrupt the international cross-border payments world taking over rivals such as SWIFT however, he does warn that its involvement with the XRP cryptocurrency could prevent this.
McGlone posted a report recently where he examined the overall outlook of digital assets such as XRP. In discussing the joke and the company behind it, the senior commodity analyst says that it could be positioned to disrupt the existing systems and welcome in a new era for cross-border payments.
The report delves into the well-known partnership that the San Francisco-based company has with MoneyGram and indicates that the markets can see ripple ready to completely change the international remittance market.
Ripoll has claimed that the use of its XRP digital assets helps fuel the OnDemand liquidity solution that was created in order to reduce friction between transactions across seas. The liquidity system leverages the XRP token and he said to provide $1 trillion dollar liquidity which can reduce the cost and the time taken to settle the transactions.
Repose cross-border payment systems are certainly making waves throughout the world. However, despite this, it is a controversial part of this cryptocurrencies ecosystem. With the company's involvement on its token XRP, the future is uncertain.
There is a lot of discussion in regards to the centralisation of XRP. The company currently controls more than 60 billion of its tokens which is over half of the whole supply. The CEO of Ripple, Brad Garlinghouse has previously said that the company has to sell these coins off on a regular basis in order to keep the cash flow positive and profitable.