Ripple (XRP) News – Is ripple (XRP) finally getting its long overdue recognition in Asia?

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Ripple (XRP) has been consistently developing its blockchain as well as the RippleNet-based products as well. In this regards, it has long overdue recognition which it seems to be finally gaining. According to a recent news, it is finally coming to prominence in the Asian country of Singapore. Up until now, the individual banks, as well as financial institutions, have recognized the power of ripple. This is the 1st time that a country is also using the blockchain of ripple in order to build an application.

Is ripple (XRP) finally getting its long overdue recognition?

Singapore is rumored to be using the ripple protocol in order to create a global invoicing platform. If indeed, countries able to use the RippleNet, it will certainly increase the credibility of ripple.

On the other hand, many of the Asian countries are investing heavily in the blockchain. They believe that it is one of the best ways to govern the cities and also to introduce efficiency in the bureaucratic systems as well. That is why various countries are trying to use the blockchain technology to their advantage.

On the other hand, when it comes to RippleNet there are quite a few applications already underway. Ripple recently launched Xrapid as well. XRapid will actually help ripple in increasing the usage of the XRP token. As a result, it will become much easier for investors to increase liquidity in XRP token. Moreover, as the demand for the XRP token will also increase, the price will increase as well.

On the other hand, various financial institutions, as well as banks, that were using various ripple products have already claimed that they are able to not only save time but also cost as well. If the same continues, it is just a matter of time before the governments, as well as authorities all over the world, think about using the RippleNet and associated products in order to initiate cross-border payments as well. If that happens, it will be able to gain a significant amount of traction all over the world are starting with the Shia.

Once this product by Singapore is implemented, Ripple (XRP) will experience another jump in demand as well as prices. If a country starts using the RippleNet protocol as well as the associated products, other countries will also be willing to experiment with the RippleNet as well as various other protocols which will help it gain more users from bureaucratic circles as well as governments all over the world.

About Riddhi 224 Articles
I am an electronics engineer and follow the crypto space closely.

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