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Bank Integration of Ripple Technologies: Prospects and Current Situation

Aug 29, 2024
  1. Ripple Partnerships with Major Banks
  2. Integration Issues and Impact on XRP Price
  3. Prospects of Full Integration and Predictions

Analyst SMQKE highlights key aspects of Ripple technologies used by major banks and their impact on the XRP market. He argues that full integration could significantly boost the asset's price.

Ripple Partnerships with Major Banks

Analyst SMQKE points out several partnership agreements between Ripple and 'systemically important financial' institutions such as Santander, Bank of America, and Standard Chartered. According to a Ripple-Russia document, these banks are operating in test mode.

Integration Issues and Impact on XRP Price

SMQKE explains that the XRP's price struggle is partly linked to major banks not fully integrating Ripple technologies into their daily activities. He argues that this lack of full integration is a significant barrier to the asset's price increase.

If these major banks are still in the testing phase, it means they have NOT YET fully integrated Ripple’s technology into their live, day-to-day operations. This explains the lack of significant price movement for XRP, despite its potential utility.

Prospects of Full Integration and Predictions

SMQKE believes that the end of the test phases will lead to the full adoption of Ripple technologies, which will drive significant demand for XRP and its price increase. Currently, XRP trades at $0.57, having decreased by 0.08% in the last 24 hours.

The successful conclusion of these tests will create a demand for XRP as a utility asset in financial transactions, significantly driving up its price.

In conclusion, full-scale integration of Ripple technologies by major banks could be a key factor in the rise of XRP's price, despite current challenges and legal issues.

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