Ripple, a cryptocurrency payment company, recently launched a campaign promoting the use of XRP in the rapidly growing cross-border payment market, which is expected to exceed $300 trillion within the next six years. This campaign has caught the attention of the XRP community, with Edoardo Farina, the Head of Social Adoption at XRP Healthcare, sharing the advertisement on social media platform X.
The advertisement featured Pegah Soltani, Ripple’s head of Payments Product, who explained the fundamentals of blockchain-based payments. Soltani highlighted the significant volume of international funds transferred annually, projecting a staggering $300 trillion by 2030. Despite this massive growth, she expressed concerns about the current inefficiencies in global payments, including high costs, slow transfers, and error susceptibility.
However, Soltani remained optimistic about Ripple’s innovative approach to revolutionizing global value movement. 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 by Soltani, a business sought to transfer British pounds from the UK to the Philippines using XRP as an intermediary currency. Through Ripple’s Global Partner Network, the funds were seamlessly converted into the recipient’s local currency, ensuring the exact amount quoted was received almost instantly.
The use of XRP within Ripple’s payment network has sparked enthusiasm among supporters, with some speculating that XRP’s market value could potentially reach $10,000 per token in the future. However, experts caution against such lofty predictions, citing XRP’s current price of $0.52.
It is important to note that Ripple has stated its use of XRP for payments is demand-neutral, meaning it does not directly impact price movements. This information is provided for informational purposes only and should not be construed as financial advice. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic does not accept responsibility for any financial losses incurred.