Xrapid is likely to push XRP into the $100 price range.
We just have to look at the organisations which are currently involved with the pilot trials – these include Western Union, MoneyGram. At present, these companies are just using XRP in small channels, but fast forward to the situation once full implementation happens, and we could see these organisations using XRP throughout their back end for transactions such as liquidity transfers.
It is all down to the security which Ripple‘s Xrapid provides to its users, not to mention its cost effectiveness as a platform. In a trillion dollar industry, if Ripple is able to partner with the likes of Western Union and MoneyGram, as well as partners such as IDT and Cuallix, we could really see them take the platform to the next level, with the ability to get up inside that coveted $100 price range.
If XRP can corner this market, there is so much potential. Any time people send money to each other around the world via bank transfer, it is likely that there are a large number of fees attached. And don’t forget; the more money your transfer, the more fees are likely to be attached.
These systems allow a receiver of a money transfer in say, India, to go to their local exchange and collect money sent to them by a sender in the USA who has converted US dollars into XRP, for example. They then have the option to withdraw the funds in Indian Rupees cash, or use it online.
This could be the future of money transfer around the world, and in an increasingly globalised community money transfer could be required more and more. Watch out for some Xrapid tie ups before the platform shoots up over $100.
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