A few days ago, the Prime minister of Malta sent out a tweet about Malta being the leading trader of XRP in the world.
This is an interesting tweet because it can be an interpreted to be a validation of XRP by Malta. While one can argue that Malta has largely been pro-blockchain so this tweet is no big deal, it’s important to realize that XRP (XRP) is getting endorsed in other nations, even more influential nations too. For instance, ripple has people in the Federal Reserve faster payments task force, and this is to some extent an endorsement of XRP by the Fed. That’s because as the name of the task force suggests, it is about getting faster payments, and naturally XRP (XRP) would be a logical step towards achieving this end. As such, postulating that XRP (XRP) could be getting prepped to replace the dollar would not be far-fetched.
Thousands of miles across the pacific, Japan too is steadily moving into XRP (XRP). That’s because the SBI consortium is deep into XRP, and it has more than 80% of Japanese banks under its influence. This means that in coming years, XRP will pretty much be the standard for payments in Japan. Also, Japan is the third largest economy in the world, and by adopting XRP (XRP), it will have opened the way for other Asian nations to follow suit. That’s because the Japanese banking sector has a huge influence not just in Asia, but all across the world.
Still in Asia, ripple has made huge strides in India, and now has over 50% of the market, through partnerships with big Indian banks. With the Indian government actively trying to eliminate paper money, digital payments will be future, and XRP is at the center of this revolution. That’s because it has the backing of top Indian banks and telecoms, which are already working with ripple. Besides, XRP makes sense for Indians looking to buy and sell, as well as transfer value digitally. That’s because XRP (XRP) is fast, and extremely cheap for transactions. This makes it a logical option especially for low income earners looking to transfer value.
With Asia, North America and Europe gravitating towards XRP (XRP), the rest of the world will follow suit. These are the continents that have the world’s most influential nations, and the direction they take will shape how the rest of the world goes. It’s quite clear that XRP (XRP) is growing in its geographical reach in key world economies. In a future where fiat looks like it’s on the deathbed, XRP is clearly ahead of the race as a replacement.
For XRP (XRP) investors, this is a good reason to hold on to their investments. The future is clearly shaping up in the right direction. Even Coinbase, the exchange that has been avoiding XRP (XRP) seems to be taking steps towards listing it, with the introduction of custodial services for XRP and other cryptos.