For many of us, Ripple’s XRP is one of the biggest puzzles ever existing in the crypto world. Truth be told, the third largest cryptocurrency by market capitalization has had remarkable ups and downs during its existence, so even when the coin seems to be in the top at some point later things get a little complicated, a fact that has only taken us to be pretty much clueless about the crypto.
Nevertheless, this perception may be getting to an end soon, as some of the doubts will be finally elucidated in the SWELL event that is going to be held on October 1-2.
With relation to SWELL, it is an event hosted by the company behind the XRP token that “connects the world’s leading experts on policy, payments, and technology for the most provocative dialogue in global payments” as the webpage of the event itself describes it.
After the enormous success of last year, SWELL is coming for a second round in which some of the most reputed institutions from the financial sector will discuss the panorama for cross-border payments in the whole world, and of course, we are all expecting that Ripple surprises with big announcements. Let’s see all the details.
SWELL and the xRapid solution
As it has been mentioned on several occasions, despite Ripple has built the greatest relationship with the financial sector, especially, with central and commercial banks, these alliances have been made mostly through xVia and xCurrent, solutions that actually have nothing to do with the XRP token. In this sense, we have all been wondering, when will it be the time for xRapid (the Ripple product that uses XRP)? Well, that time has come up.
xRapid, the liquidity solution made by Ripple Labs, has finally passed the beta tests and is now ready to be introduced to financial institutions.
Let’s recall that last week Ripple sealed a partnership with the NCB to test xRapid as a cross-border payment solution, and additionally, Mercuryfx and SBI are already testing the solution that integrates the XRP token.
In this manner, what we are expecting the most is that in the highly advertised event about to come, Ripple announces what other financial institutions are trying the liquidity solution already, or at least what approaches have been made with relation to this.
Let’s recall that when it comes to actions taken in the banking sector, most of them tend to follow one to another to keep competitivity in the picture. So it’s just a matter of a single adoption for the rest to follow the trend, and this would bring as a consequence the price-skyrocket of the XRP token.
For its part, SWELL will be an important event as well for Ripple as it will bring the endorsement of figures such as the head of innovation at the Saudi Arabian Monetary Authority, Mohsen Alzahrani, and the representative of the central banks in Latin America, Marcello Yared.
We can all expect good things for the XRP price in the coming days. In fact, this is the second week that the crypto market shows some stability (still in red, though), and Ripple has followed this tendency even growing in a 1 percent during this period.
In both, short and long-term, the XRP token is a safe investment right now, and the price could even shoot to 0.70 dollars after the SWELL event, a fact that would repeat the achievement of last year when Ripple showed significant increases in the fourth quarter of the year. Stay tuned.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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