The crypto world is full of intriguing and controversial cryptocurrencies. Ripple, or XRP for short, is no exception. Ripple continues to achieve new milestones, and the XRP coin is also moving closer towards a price break of its current $0.60 price juncture.
Dilip Rao was seen recently commenting on the fact that XRP wasn’t meant to be used for retail. He explained another possible use for the token.
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Former Ripple global head of infrastructure: XRP is designed for institutional investors
Dilip RAO, the former Global Head for Infrastructure Innovation and Development at the World Bank, spoke about his experience during a recent Global Islamic Economy Summit. RippleExclusive comments made about Ripple’s adoption.
Rao reiterated, when asked about recent investors buying XRP to make short-term profits, that the real purpose of this token isn’t for them. The token will be developed for institutional growth, which is what it needs to grow.
“It’s chicken and egg; you have to create a marketplace. And right now we have 152 global exchanges around the world that trade XRP. A lot of it, as you say, is very shallow trading by individuals, and that is not the use case that we are pursuing. What we are pursuing is the use of XRP as a financial asset by sophisticated institutions as a bridging mechanism. In the last quarter, the bulk of XRP sales were institutional.And as this transitions away from retail to institutions, we’ll start to use it for wholesale, for financial usage.” – Dilip Rao
Analysts predict that XRP will reach $1 in the near future
XRP has created waves in the crypto world. Dark Defender, a prominent crypto analyst at X, says that the XRP chart shows a pattern forming Ichimoku cloud.
“Breaking News: Prepare for liftoff! 🚀#XRP is soaring above the Ichimoku Clouds. With all indicators flashing green. Current price: $0.6503, but get ready for a potential surge by shattering down the $0.6649 into pieces. As we aim for $0.8,-$1.03,3and- $1.46 in the very short term. While this is not financial advice, the stars✨align for a stellar journey!.”
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Future Prospects
The community is hoping that the token can reach new heights as the SEC Ripple lawsuit nears its conclusion. XRP fans want to make sure that the token is able to take its place as the crypto governing this space.
Ripple’s XRP remains a key player on the crypto market. Its future is largely influenced by its institutional adoption as well as ongoing legal developments.
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Source: watcher.guru
