Ripple, a leading crypto payment company, recently released an advertisement promoting the use of XRP in the booming cross-border payment market, which is expected to exceed $300 trillion in the next six years. This ad has caught the attention of the XRP community, with Edoardo Farina, Head of Social Adoption at XRP Healthcare, sharing it on social media.
The advertisement featured Pegah Soltani, Ripple’s head of Payments Product, who explained the fundamentals of blockchain-based payment systems. Soltani highlighted the massive amount of money transferred globally each year, predicting that this figure will skyrocket to $300 trillion by 2030.
Despite the projected increase in cross-border transactions, Soltani expressed concerns about the current state of global payments, citing high costs, slow transfers, and error-prone systems. However, she remained optimistic about Ripple’s innovative approach, utilizing blockchain technology and digital currencies like XRP to offer faster, more cost-effective, and transparent payment solutions for businesses and consumers.
In a practical example presented in the advertisement, a business wanted to transfer British pounds from the UK to the Philippines. Using XRP as an intermediary currency, Ripple’s Global Partner Network facilitated the swift and accurate conversion of funds to the recipient’s desired local currency, showcasing the efficiency of Ripple’s payment system.
The use of XRP within Ripple’s payment network has sparked enthusiasm among many supporters, who foresee a potential increase in XRP’s market value in the future. While some speculate that XRP could reach $10,000 per token given the immense scale of the payment market, experts are skeptical due to XRP’s 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 price movements. As always, readers are advised to conduct thorough research before making any investment decisions, as this content is for informational purposes only and should not be construed as financial advice.
