Ripple, a leading crypto payment company, recently launched an ad campaign promoting the use of XRP in the cross-border payment industry, which is expected to exceed $300 trillion within the next six years. This advertisement has generated significant buzz within the XRP community. Edoardo Farina, Head of Social Adoption at XRP Healthcare, shared the ad on X yesterday.
The ad featured Pegah Soltani, Ripple’s head of Payments Product, who explained the fundamentals of blockchain-based payments. Soltani highlighted the immense volume of international fund transfers annually, projecting a staggering $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 susceptibility.
However, Soltani also expressed optimism 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 individuals.
Soltani illustrated a practical scenario where a business wants to transfer British pounds from the UK to the Philippines using XRP as an intermediary currency. Through Ripple’s Global Partner Network, the funds are converted into the local currency, ensuring the recipient in the Philippines receives the exact amount quoted in the desired currency almost instantaneously.
The use of XRP within Ripple’s payment network has sparked enthusiasm among many supporters, who anticipate a potential increase in XRP’s market value in the future. While some speculate that XRP could reach $10,000 per token given the scale of the payment market, experts have dismissed such predictions as unrealistic, especially considering XRP’s current price of $0.52. Ripple has clarified that its use of XRP for payments is demand-neutral and does not impact price movements.
Please note that this content is for informational purposes only and should not be construed as financial advice. Readers are advised to conduct thorough research before making investment decisions. The views expressed in this article are personal opinions and do not represent The Crypto Basic’s stance. The Crypto Basic is not liable for any financial losses incurred.
