The bear market is losing steam, and all major coins look set to rebound. One of the coins that looks set to make some serious gains in the near future is Ripple (XRP). In the last 24-hours, XRP has broken above the psychological $0.50 price. This goes to show that money is flowing back into ripple, backed not just by bitcoin (BTC)’s resurgence, but also by ripple fundamentals, and there are many.
One of the key fundamentals set to sustain XRP above $0.50, and push it even further is the upcoming launch of retail accounts by SBI Japan. SBI Japan looks set to revolutionize the usage of ripple in the Japanese market, since it is the primary crypto that will be trading on this exchange. Besides, SBI through its consortium of Japanese banks controls over 80% of Japanese banking. This means that ripple is very few steps away from becoming the primary currency for domestic and cross-border transactions in Japan. This alone is enough to sustain ripple not just above $0.50, but also push it to $1 or more within the month of July.
Besides, it is also being used by other banks all across the world. Santander group has already started using ripple in Europe and South America. A Dutch bank has also gone live with XRP, an indicator that the adoption of this tech by banks is no longer a big wonder. It is now becoming a reality that ripple will become the standard for cross-border payments, and replace the SWIFT system.
But this is not the only big news that has come out lately with regards to ripple (XRP). Recently, Bill Gates’s charity foundation announced that they would be using ripple technology, in banking the unbanked. Given that there are billions of unbanked people in the world, it isn’t hard to see that this will exponentially add to the value of ripple. It places ripple in a unique position to gain grounds as a currency for the masses all across the world.
Another fundamental factor that will propel XRP above $0.50 is the possibility that it will not be declared a security. The fear that ripple might be declared a security has played a role in driving down the value of XRP. However, with the huge adoption of ripple that is currently underway by banks in and outside the U.S, chances of such an eventuality are quite minimal. That’s because the role of regulators is to support innovation, not stifle it. In this case, ripple is making cross-border payments across banks all over the world more efficient. There is no way the SEC would declare this innovation a security and kill the technology.
These fundamentals are guaranteed to sustain the value of ripple (XRP) not just above $0.50, but also to a new heights of over $1 in the course of this month. By the end of the year, XRP could be trading at double digit valuations.