Ripple, the company behind XRP, is actively working on becoming a global payment system and leading cross-border payments. To do so, it has made many expansions and collaborations over the years. It also becomes important as the Ripple token price is constantly struggling on charts, breaking the holder’s patience day by day. In one such attempt to become the global leader, the network has attempted bank-grade services to fintech-based businesses.
Just recently, the popular network has announced some significant updates about Ripple custody services, including the integration with the XRP Ledger for tokenizing real-world assets, the introduction of a new hardware security module (HSM) options, improved user interface, pre-configured policy frameworks, and much more. However, this is just the beginning, as Ben Armstrong and EDO Farina have revealed some hidden facts about the global adoption of this cryptocurrency token.
Can XRP Lead In Global Adoption?
The Ripple token is a powerful cryptocurrency that overcame many challenges to maintain its position in the top cryptos to buy. Despite losing more than 80% of its value from the peak, the token is still in demand, which explains the people’s trust in it. More importantly, the Ripple’s steady growth is constantly backing it up. Talking of which, the company has gained a 250% year-over-year increase in new customers. Here, its custody services serve top financial institutions, Banks, and businesses across many countries.
Understanding this growth and the company’s deep connections with the top Financial institutions like FED (The Federal Reserve), US Treasury, and WEF (World Economic Forum) indicates a strong support system to push it towards global adoption. EDO Farina made this revelation in a recent X post, where he referred to XRP as the World Reserve Currency. The post revealed around 18 top Ripple executives (former and current) have connections with these financial institutions, which could sharpen the role of the network in future financial systems.
The image illustrate how @Ripple executives such as Chris Larsen, Rose Rios, Michael Barr are connected to the FED, US Treasury, IMF, WEF and other key Financial Institutions.
The only possible outcome is $XRP as a World Reserve Currency pic.twitter.com/sOrvoUURAx
— EDO FARINA 🅧 XRP (@edward_farina) October 12, 2024
Ben Armstrong, also known as the BitBoy on X, has backed this forecast, but with a few twists and tweaks. He commented on Farina’s X post, saying that the connection is there, which is why XRP will win. He further revealed that both Ripple and token have a huge role in this field, and the officials will make an announcement soon. However, it might not become the world reserve currency, as he believes BRICS + Pay, a new payment system, will take that position.
That is NOT going to happen. BRICS+ Pay will be the next world reserve currency.
These connections are real. This is why I’ve been telling you $XRP will WIN.
Ripple & XRP will play a HUGE role in underpinning what is coming. Announcements coming soon regarding this. https://t.co/xaEnbS1iJQ
— The BitBoy (@BenArmstrongsX) October 12, 2024
In an additional comment, he revealed that the Ripple token will have a prominent role in the Financial system, but the case is different in becoming a world reserve currency. Ben Armstrong made all these comments based on some hidden information, as he revealed in his post.
How Will It Impact The XRP Price?
Whether the Ripple token becomes the world reserve currency or not, it will play a role in the global financial system. More importantly, it will boost the price, despite many doubting the XRP price can fall to zero after its seven-year-long struggles. During these years, many predictions took shape in anticipation of the recovery, but everything failed as the Ripple Vs. SEC lawsuit is still in action, constraining its progress. If this gets over and more financial institutions like banks begin using the token for cross-border payments, a significant boost is definite for this token.
After considering these positive aspects, many crypto analysts indicate that the Ripple token price will reach new highs at $100 or even higher. However, the token is stuck at $0.545 with a market capitalization of $30.85B for now.
The post Is XRP Heading For Global Adoption? Ben Armstrong Revealed Hidden Facts appeared first on CoinGape.
