Ripple’s XRP token is believed to boast huge potential, but many have wondered how valuable the token can become. Ripple’s CEO Brad Garlinghouse seems to have an answer as he claims the token could become the next Bitcoin.
How XRP Can Become The Next Bitcoin
A prominent figure in the XRP community, JackTheRippler, shared a clip from an interview that Garlinghouse had with Bloomberg. In the interview, the CEO mentioned that the token could become the next bitcoin if his company, using the XRP token, could solve a huge financial problem, especially at a large scale running into “trillions of dollars.”
His statement likely stems from his company’s vision to disrupt the global financial system and become a viable alternative to the traditional system, such as the SWIFT payment system. If that is done, it is expected that the token’s value could skyrocket as the token’s utility will be over the roof, and its price will ultimately increase significantly.
Garlinghouse mentioned that the XRP token has enjoyed outstanding success so far because people realize the potential that the token boasts and have the belief that the token could well become the next Bitcoin.
The CEO’s sentiments are echoed by pro-XRP Wall Street financial analyst Linda Jones, who suggested that the token could usurp Bitcoin to become the face of the crypto market, especially as institutional investors continue to take interest in the token. She further likened XRP to the Microsoft and Apple stock, stating that it could become the next big thing in the financial market.
Indeed, XRP has stood out from the rest as Ripple uses the token to provide real-world applications, positioning it as the currency of the future. Ripple is aiming to solve the issue of cross-border payments, which has been a mainstay issue in the global financial landscape, especially among immigrants looking to send money back to their home country.
Token price tries to break $0.5 resistance | Source: XRPUSD on Tradingview.com
Ripple Making Waves Outside The US
While the company’s long-running legal battle with the US Securities and Exchange Commission (SEC) has undoubtedly hampered its growth in the US, Ripple, however, seems to be enjoying increased adoption elsewhere.
One of the notable regions includes Asia (especially Japan), with a recent report stating that investors are looking to invest in the XRP token rather than the foremost cryptocurrencies, Bitcoin and Ethereum.
XRP’s acceptance stems from the utility that Ripple and its Ripplenet provide to banks in countries like China, South Korea, Vietnam, the Philippines, and Indonesia. These banks are able to utilize the XRP-based remittance service to process cross-border transactions in “40 currencies and more than 70 countries.”
Ripple and its services are bound to continue enjoying greater acceptance globally. The company’s President, Monica Lang, recently stated that Judge Analisa Torres’ ruling has opened the door for the company to expand its business “even more globally.”
Featured image from Forkast News, chart from Tradingview.com