Recently, you might also have seen a document by JP Morgan that has been circulating on Twitter for a few days. It’s JP Morganโ€™s North America Equity Research report published earlier this month. This document clearly states Ripple’s XRP. Just take a look at this. US Mid and Small Cap Banks Crypto Banking Weekly, US regulators report on stablecoins, bitcoin trading volumes +41% QTD, Coin Spotlight on Ripple XRP.
Future potential for XRP. Ripple has been largely successful at accomplishing its goal of reducing fees and transaction times associated with money. Just take a look at this now. If the company is able to win the SEC lawsuit and trading resumes on major crypto currency exchanges like coinbase, XRP is poised for a significant adoption. That’s right, JPMorgan is not only talking about XRP but also warning that it’s “poised for considerable adoption,” according to what many are saying is a recently-released internal letter.
While the price of XRP has declined along with the rest of the cryptocurrency market in recent days and despite the looming lawsuit over its head, Ripple Labs has been working nonstop to recruit new partners for its RippleNet and On-Demand Liquidity services. This is spreading the use of XRP, particularly in the cross-border payments industry. Ripple has partnered up with around 400 banks and financial institutions and still, more are to come.
The document by JP Morgan is a proof for XRP mass adoption. We have been saying this for long and now the bank has also proved it. The JP Morgan report started out by stating that XRP can be used to facilitate transactions of many kinds, including fiat currency exchanges, commodity trading, and even crypto currency trading. The low transaction fees, rapid transfer times, and array of use cases of XRP have made it a favorite for banks. RippleNet, a network of banks that have partnered with Ripple to facilitate rapid transfer of funds has deduced and even eliminated banks’ traditional need for pre-fund accounts in cross-border transactions. Seems like JP Morgan is a Ripple fan.

#XRP #Ripple

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