It’s been more than 6 months since Ripple’s XRP has seen 1$ value in the market back in mid-February just before it declined below the symbolic price.
Back in January in the first quarter of 2018, XRP has made it to its all-time high of over 3.3$ per one XRP unit, however, it declined over -90% since making it to its record price.
Partially due to negative trends in the market and frequent market dips, and on the other hand possibly driven by the undefined nature of XRP token as the asset is waiting for the SEC’s decision on the matter of being currency or a security, XRP has now declined to a price of 0.27$, longing to get back on the track.
That might as well be possible with the latest product by the Ripple foundation, as the team is aiming at bringing XRP to financial institutions the same way they introduced xVia and xCurrent to financial and banking giants like SBI group, Santander bank, and Western Union.
Ripple Is Offering xRapid to Financial Institutions in Attempt of Mass Adopting XRP
With over 120 banks across the globe using or testing xVia and xCurrent, which are two out of three products launched and designed by Ripple foundation on the head with Brad Garlinghouse, the founder and CEO of Ripple foundation and XRP.
Although financial institutions and banks, including more than several national banks around the world, have already accepted blockchain through the implementation of xVia and xCurrent that allow these institutions and banks to perform faster transactions with lower fees, XRP technically didn’t get its piece of the pie.
This is the case because none of these products neither xVia or xCurrent, require XRP in order to be functioning, that way removing the native token of Ripple network out of the equation as far as the adoption is concerned.
Precisely for that, many people across the crypto community consider XRP and Ripple to be centralized, while Ripple foundation had three lawsuits that were later on dismissed, being accused of centralized operations and using XRP revenue from investors’ pockets in order to fund their own business ventures.
Consequently, XRP might have lost a part of those -90% since reaching its record price due to these not so benevolent situations.
However, this is about to change as Ripple foundation is aiming at bringing their third product, xRapid, to these same financial institutions and banks, which is at the same time a major gateway for XRP mass adoption.
xRapid is the only product out of three that actually requires XRP in order to be running, so what Ripple is trying to do is to bring swift payments with low fees and XRP straight at the doors of massive banking institutions like the ones the foundation is already cooperating with through xVia and xCurrent.
That means that XRP might as well see a price of 1$ per one unit during the Q4 of the current year.
At the same time, investors and holders might additionally retrieve trust in XRP and Ripple, forgetting all about centralization drama since Ripple is now seen openly pushing XRP towards mass adoption, which might be the ultimate goal of most cryptocurrencies in the market.
The fact that the project is already making a success is mirrored in the case of having SBI group, which already partnered with Ripple previously, testing xRapid for XRP based transactions.
Alongside with SBI group, Ripple Labs have already beta tested the product for financial and banking institutions, additionally signing an agreement with NCB, which is also testing xRapid since the partnership was sealed during the last week.
Mercuryfx is also testing Ripple’s solution for XRP transactions, as the team is set to deliver the XRP-driven product to banks across the globe, that way aiming at increasing XRP adoption, that way unlocking the potential of reaching a 1$ value during the course of the next three months of Q4.
Ripple (XRP) in the Market
Although Ripple has shared some amazing news on the matter of pushing the adoption of XRP in the following months through offering xRapid to banks and financial institutions, we can still see XRP dropping against the fiat with the latest negative trend.
On September 18th, Ripple is seen down by -2.20%, now being traded at the price of 0.27$. Although XRP is fairly away from its all-time high of over 3$, XRP has a solid good chance of getting back to the price of 1$ during Q4 in case everything goes smoothly with XRP adoption and xRapid implementation.