It’s no secret that Ripple is taking over the financial system by a storm. Their crypto token, XRP, currently ranks third by market capitalization following Bitcoin and Ether. However, this crypto has been going through a rough patch lately. It was predicted that after the SWELL conference the price of the third largest currency in the crypto market would go up. Yet, the price keeps decreasing.
Despite all of this, XRP is one of the brightest stars in the crypto sky. It is expected to have a great future ahead. One of the signs for this is their experience with XRP that numerous financial institutions shared. Back in 2016, a number of large banks worldwide, particularly with regard to the Royal Bank of Canada (RBC), Barclays as well as Santander, began utilizing the Ripple network as well as XRP and emphasized their satisfaction and positive experience of using these new technologies.
It was a pilot program, which lasted six months and included twelve banks. This was shared by the Head of Regulatory Relations of Ripple via Twitter. The twelve banks were reportedly using the network for financial transfers, they impressed with this crypto technology and added that it worked greatly.
Despite these positive discussions about XRP, the price of the cryptocurrency hasn’t increased yet and many crypto enthusiasts speculate that the main reason is the excessive regulations that have been forced upon crypto coins in the recent years. At the same time, banks continue to have demands for using XRP as the technology is new, fast, reasonably priced and far better than what they had been using before.
Ripple and XRP are at the forefront for the movement of making cryptocurrency available for mainstream usage. In order to learn more details about XRP, check out Ripple Price updates & Ripple (XRP) Price Predictions.