The price of XRP (XRP) may not be moving much, but there is something about it that points to its potential to take the top spot. So far it is the only crypto that has gained widespread adoption all across the world. The latest case of increased global adoption is by Mercury-FX, which will start testing XRP in China and Mexico.
This is a big deal, especially the China part. China is the second largest economy in the world, with a GDP of over $11 trillion. Money flows in and out of China are also in the hundreds of billions of dollars. As such, once the Mercury-FX XRP-based payments gain momentum, it could push XRP usage in China to hundreds of millions a day.
But China is not the only major economy where ripple is making in-roads in the global economy. They have also made major moves in Japan and India. For instance, the SBI Japan deal will ultimately see XRP (XRP) gain widespread usage in the Japanese banking sector, which is one of the most robust in the world. The integration of XRP in major economies will without a doubt reshape global banking, by making XRP the standard for cross-border payments.
It’s only a matter of time before this reflects in the price of XRP. In the past, people would dismiss XRP on the basis that most of the adoption was for XCurrent, but now things are changing, it’s XRP that is getting adoption. Over time, as the transaction rates increase, it will start to reflect in the value of XRP, and push it to the top.
XRP (XRP) is also becoming more accessible to investors, which is great for its value. The number of exchanges adding XRP/USD pairs has increased significantly. The latest to follow in this trend is Bittrex, which will on the 20th be listing XRP/USD. This gives U.S investors more access to XRP further adding to its demand. This coupled with the fact that there are more exchanges adding XRP as a base currency in their trading pairs, will drive up demand, and by extension, the price.
Related to the USD pairings is the increased accessibility of cryptocurrencies to demographics that didn’t have access to XRP in the past. For instance, the Jamaican stock exchange has announced that they will start allowing crypto trading. Though it’s not anywhere close to the global stock markets, it is small part to the growing acceptance of cryptocurrency by mainstream financial institutions. As crypto goes mainstream outside of the crypto communities, fundamentals will become a central aspect to this adoption, and no other cryptocurrency rivals XRP on this front. It has cornered the global banking system.
With such a high rate of adoption, and growing demand, there is no doubt that XRP (XRP) is headed to the top in terms of market capitalization. At its current price at under $0.30, XRP (XRP) could literally be the most undervalued crypto in the market today, relative to its market fundamentals.