Ripple, a cryptocurrency payment company, recently released a promotional campaign advocating for the use of XRP in the rapidly growing cross-border payment market, which is expected to exceed $300 trillion in the next six years. This advertisement has caught the attention of the XRP community, with Edoardo Farina, Head of Social Adoption at XRP Healthcare, sharing the promotion on social media.
The advertisement features Pegah Soltani, Ripple’s head of Payments Product, who explains the benefits of blockchain-based payments. Soltani highlights the significant amount of money transferred internationally each year, projecting a staggering $300 trillion by 2030. She also expresses concerns about the current inefficiencies in global payments, such as high costs, slow transfers, and errors.
Despite these challenges, Soltani remains optimistic about Ripple’s innovative approach to revolutionizing global value transfer. By utilizing blockchain technology and digital currencies like XRP, Ripple aims to provide faster, more cost-effective, and transparent payment solutions for businesses and end-users.
In a practical example presented in the advertisement, Soltani demonstrates how XRP can facilitate a seamless transfer of funds from the UK to the Philippines. Through Ripple’s Global Partner Network, the recipient in the Philippines receives the exact amount quoted in the local currency almost instantaneously.
The use of XRP within Ripple’s payment network has sparked enthusiasm among supporters who believe in the potential for XRP’s market value to increase significantly in the future. While some speculations suggest XRP could reach $10,000 per token, experts remain skeptical given its current price of $0.52.
It is important to note that Ripple has clarified that its use of XRP for payments is demand-neutral, meaning it does not directly impact the token’s price. This article serves as informational content and should not be considered financial advice. Readers are advised to conduct thorough research before making any investment decisions.