Ripple Inc, a blockchain cross-border payment company, has announced tremendous victory for its flagship product Ripplenet. Ripple says that it processed $30 billion in payments in 2018. This includes both fiat and cryptocurrency transactions.
Despite the lawsuit filed by the United States SEC, the On-Demand Liquidity market is growing fast because Ripple has been signing partnerships with some of the biggest fintech companies in different markets. Apparently, many new people have joining the ODL ecosystem. There are a lot of different markets where you can buy and sell FX, and most of them are active. This means that 90% of all FX trading takes place on these markets.
The company is expanding market, which is expecting to reach $156 trillion by 2022.
We’re giving the XRP community something to hold on to as the lawsuit enters the final stages. The price of Ripple (XRP) has been slowly consolidating since it reached its all-time high of $3.40.
If the current wedge breaks out in the same way as the 2013-2017 wedge, then the price of XRP is likely to increase significantly in the next bull market. To trade XRP above $10, the market cap of it must be greater than $500 billion.
With Ripple showing significant resilience to push beyond the current headwinds, market strategists are confident the asset will trade beyond $10 in the coming years.
Ripple and the XRP market outlook
The Ripple team is working on creating a community for XRPL tokens and it’s been reporting that XLS-20 is able to create NFTs. As part of the XRP Ledger, tokenisation will be available for art lovers all over the world. This means that art pieces will be representing with digital tokens on the network.
The XRP community has been fighting a legal battle for a long time, but they’ve been able to keep strong.
Ripple’s market cap is around $18.7 billion, it has a volume of around $1.8 billion every day.
Many people hold Ripple, which is one of the coins of the Ripple network. Some people say this coin is a lot like a currency and that it could be a good investment. However, some people in the government are worrying that this coin is like a gambling, and they are trying to figure out what to do about it. The company allows to send one billion XRP tokens to the secondary market each month. The basket is put back in an account that is reserved for later use, as the market develops.
Related: These major cryptocurrency wallets acquired over 100 million Ripple (XRP) in the last 24 hours.
