Ripple (XRP) is characterized being one of the cryptos in the market that continually plays the most strategic moves to keep its position in the charts, and at the same time, be an active piece on the breaking of paradigms of the cryptocurrency world.
In fact, Ripple is working with more than 100 financial institutions around the world at the moment, among which are included renowned enterprises such as Santander, American Express, MoneyGram, Western Union, and others.
However, it is not a secret to anybody that XRP as a token has been suffering pronounced losses in the last couple of months, a fact that is mostly attributed to the generalized slumps of the market, one of the hardest difficulties the sector has faced in history.
Like this, the token is currently looking for a solution to surpass the prices issues, and apparently, it already has come up with a very brilliant solution. This time Ripple (XRP) is looking forward to approaching a new target, and nothing seems to be more promising than engaging like this with the remittance payment sector, an alliance that may take the value of the coin to $5 or more. Let’s take a look at how it goes.
Asian remittance payment marketplace
Remittances are sent all over the world every day, and this is definitely a great niche to put the eyes on, considering the inefficiencies that cross-border transactions tend to incur in. This said, I think I speak for all of us when I say that there’s actually not a better candidate in the cryptosphere to remove the frictions of transacting from one country to another, than Ripple (XRP).
Ripple is willing to remove the slowness while sending remittances abroad with the deployment of its solution xRapid, a product created to source liquidity and provide a platform to transact easier, cheaper, and simply better. But to make this happen, the company needs to define a starting point, and for this, Ripple has chosen nothing less than the Asian marketplace.
The Asian marketplace is one of the biggest in the world. In fact, Asia is considered the world center for remittances, being a continent where the remittance market produced an amount of 465,857,000,000 US dollars just in 2016, and is forecasted to hit the value of 500,482,287,387 US dollars by the end of the year.
This way, if Ripple manages to achieve its mission, it would be targeting both low and high volume remittance transactions in Asia, a milestone that could skyrocket the price of the coin to $5 in the short term, and even more in the long run.
The math behind this is actually quite simple. If we consider the forecasted value on remittances by the end of the year (500,482,287,387) and divide it by the amount of circulating XRP (around 100,000,000,000), we have the mentioned value per coin of 5 USD. However, this is only if we consider the whole amount of XRP in existence, but if we discount the equivalent percentage of XRP that belong to HODLERS (10%), then the value could reach to $5.25 in just a couple of months.
Furthermore, in lights of the adoption of xRapid for remittance payments, more coins will be used, which can translate into a larger amount of XRP in circulation. Like this, taking into account the 25% discount of HODLERS, the price would be $5.66, and even beyond, considering 50% the price would reach the mark of $6.25.
Conclusion
Ripple (XRP) one more time is proving to have the best decisions in the market and to say the least, this is something that will be beneficial not only for the crypto but as well for the thousands of people who struggle to send remittance back home every day.
The possibilities of this becoming a reality are immense and even more to expand to new horizons, for instance, at a global scale and not only in Asia, which, of course, would represent an incredible boost for the price of the third largest coin of the market, XRP. Hold tight, Ripple bull is coming.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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