The cryptocurrency market is changing with the integration of ISO 20022, which could affect XRP's price and appeal.
Reduced Selling Pressure on XRP
Analyst Adex Crypt reports that over 14 million XRP has been withdrawn from exchanges in the last 12 hours, indicating a significant market shift. This means more than 1 million XRP exited Upbit per hour.
Withdrawing cryptocurrency from exchanges often implies that investors intend to store their assets in cold wallets, reducing short-term selling pressure and supporting price increases.
Significance of ISO 20022 for XRP
ISO 20022 is a global financial messaging standard that enables seamless cross-border transactions through enhanced data exchanges and improved security. The adoption of this standard in Fedwire presents new opportunities for XRP, which has proven efficient for low-cost cross-border transactions. This also enhances interest in XRP from financial institutions utilizing Ripple’s On-Demand Liquidity (ODL).
Future of XRP in Light of New Standards
With the Fed adopting ISO 20022, XRP could see increased attractiveness to institutional investors. This creates scenarios for expanding the token's market share under new financial paradigms. However, long-term prospects depend on real market actions and regulatory clarity.
The integration of ISO 20022 into U.S. payment structures marks an important step in the evolution of financial technology. For XRP, this presents opportunities to enhance transactions and potential growth within institutional recognition, although implementation will remain contingent upon various factors.
