Ripple, a leading crypto payment company, recently released an advertisement promoting the use of XRP in the growing cross-border payment market, which is expected to exceed $300 trillion in the next six years.
This advertisement caught the attention of the XRP community, with Edoardo Farina, Head of Social Adoption at XRP Healthcare, sharing the promotion on X yesterday.
The ad showcased Pegah Soltani, Ripple’s head of Payments Product, breaking down the fundamentals of blockchain-based payments. Soltani highlighted the immense amount of money transferred globally each year, projected to hit $300 trillion by 2030.
Despite the anticipated 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 also expressed optimism about Ripple’s innovative approach to revolutionizing global value movements using blockchain technology and digital currencies like XRP.
In a practical example presented by Soltani, a business looking to transfer British pounds to the Philippines would use XRP as an intermediary currency for faster, more cost-effective, and transparent transactions through Ripple’s Global Partner Network.
The utility of XRP within Ripple’s payment network has sparked enthusiasm among many supporters, with some speculating that XRP could potentially reach a value of $10,000 per token in the future. However, experts have dismissed such predictions as unrealistic, especially given XRP’s current price of $0.52.
It is important to note that Ripple’s use of XRP for payments is demand-neutral and does not impact price movements. 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, as The Crypto Basic is not liable for any financial losses.