Ripple continues to gain attention in the crypto market with its adoption and price changes. Recent news focuses on the integration of the Ripple token (XRP) by Bank of America into its internal operations.
Bank of America and Ripple (XRP)
David Stryzewski, CEO of Sound Planning Group, stated in an interview with FOX Business that Bank of America has integrated the Ripple token into its internal operations. Stryzewski noted that the bank has filed 83 patent applications related to Ripple, suggesting that XRP might become a core component of the financial system in the future.
XRP Price Predictions
Despite the current downward trend, the long-term price chart indicates the possibility of a rise in the near future. After a strong performance over the past two months and a rise to a seven-year high, analysts are anticipating significant price increases by the end of January. With the current XRP price at $2.32, experts are targeting a range from $3.50 to $4 by early February.
Future Prospects for Ripple and XRP
Stryzewski’s claims are seen as a sign of XRP’s global adoption. Many financial institutions are considering integrating this blockchain technology. The launch of RLUSD also stands out as a significant step supporting this process. While technical indicators and market conditions may suggest short-term declines, XRP’s price is expected to reach $4 in the long run.
Ripple’s collaboration with Bank of America and the introduction of RLUSD may enhance XRP’s position within the financial system. Furthermore, Ripple’s political connections and advancements in regulatory matters could positively influence the token’s future performance.
