XRP Price Set To Spike As Ripple Enters Another $1.5 Trillion Industry
January 04 2024 - 2:00PM
NEWSBTC
Global crypto payments provider Ripple is poised to venture into a
substantial $1.5 trillion industry, signaling a potential surge for
XRP. The company is strategically positioning itself to provide
solutions to the financial complexities within this industry.
Ripple’s Strategic Expansion In a recent Wednesday report published
on X (formerly Twitter), Ripple, a blockchain-based digital
payments network, revealed its latest expansion target to be the
$1.5 trillion IT industry. The crypto network has envisioned a
transformative role for Ripple in the IT industry where
difficulties with cross-border payments and other financial
challenges have long persisted. Related Reading: Solana Has
Flipped Ethereum In Yet Another Metric In Its Bid To Reach $200
“97% of payments leaders believe blockchain and digital assets will
have a significant role in enabling faster payments within the next
three years. In our latest payments guide, discover how to
accelerate global payments for an IT services business,” Ripple
stated. While Ripple expressed its ambition to extend into
this thriving industry, the crypto payments provider also outlined
several ways IT service providers can utilize blockchain-based
payments to overcome their financial problems. According to
Ripple, by using blockchain technology, many IT services can easily
streamline payments to suppliers overseas. Additionally,
blockchain-based payments can effectively solve issues like slow
and expensive international wire transfers, high transaction fees,
restrictive banking hours, and a lack of transparency. While
Ripple anticipates the IT industry to hit $1.5 trillion by 2024,
the crypto payments provider has also expanded its focus to other
sectors. In November 2023, Ripple announced its intention to
dominate the $300 trillion payments sector. This strategic
expansion aligns with the company’s vision to revolutionize the
traditional finance system and could serve as a catalyst to trigger
a long-awaited surge in XRP prices. Token price declines to
$0.57 | Source: XRPUSD On Tradingview.com What’s Next For XRP –
Potential Surge? Ripple’s possible entry into a trillion-dollar
industry comes as a ray of hope for XRP ‘hodlers’ who have been
waiting years to see a significant shift in the price of XRP. If
Ripple’s advanced payment technology successfully becomes
integrated into the vast IT industry, demand for its native token,
XRP may rise. Related Reading: Crypto Pundit Says Cardano Rivals
XRP Community, But Why Is ADA Price Struggling? Since 2023 till
date, XRP has been unable to break resistance to reach the $1 price
mark. However, Ripple’s move into a multi-trillion dollar market
could lead to broader adoption of the cryptocurrency, potentially
pushing XRP’s price to values predicted by various crypto analysts
in the industry. At the time of writing, XRP is trading at
0.5771 according to CoinMarketCap. The cryptocurrency is still
trading miles below its all-time high of $3.84 in 2018.
Featured image from Zipmex, chart from Tradingview.com
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