Ripple is heading in the right direction as we are getting closer towards the Q4 of 2019. The implementations of specified plans set by Ripple shows that they are getting closer to their target. There are three phases in which all the progress of Ripple matters; crawl, walk, and run.
Humans or any other thing that learns to crawl at first, and after a few years they learn and have enough capability to walk, and once they are old and strong enough, they start running. Just following this natural phenomenon, Ripple is achieving its goals step by step.
Ripple has achieved almost all the targets set in the crawling phase. The key objectives were:
- Establish relations with financial institutions and governments
- Work with regulators for regulatory clarity
- Establish payment corridors
- Create partnerships governments, financial institutions, and NGOs
- Central banks contract escrowed for XRP
- Onboard financial institutions to use XRP
Ripple has successfully collaborated with governments and top financial institutions worldwide. The core objective is to gain popularity and work with different governments and regulations.
So far, Ripple seems to have achieved everything smoothly and looks more keen to grow its ecosystem further. Recently, RippleNet partnered with Xendpay in which it will act as a payment corridor across five different countries of Asia.
In a recent tweet by an XRP user in which he mentioned that he chatted with Ripple’s CEO, Brad Garlinghouse. Brad mentioned that they have entered the walking phase. Let’s have a look at what the key objectives of the walking phase involve;
- The transition of xCurrent users to xCurrent 4.0
- Start new xCurrent on xCurrent 4.0
- Transition xCurrent users to xRapid
- Continue the time release of escrowed XRP
Transitioning of xCurrent to xCurrent 4.0 has been happening throughout this year. It’s already in the news that the banks in India are now using xCurrent 4.0. Moreover, all the financial institutions and partners of Ripple are upgrading to xRapid and transitioning xCurrent users to xRapid.
And the time release of escrowed XRP has been continued throughout this year. So, Brad is pretty much right that currently we are going through the walk phase and transitioning into jog phase, and soon Ripple will be in the next stage of the run.
RUN (Ripple looks all set for it)
The reason that Ripple will soon be in the run phase is because of its potential collaboration with SBI; more importantly, its recent partnership with Moneygram that will set a new standard for Ripple. Moneygram will act as the XRP hub center for all the financial institutions to be able to use liquidity from the money transfer giant.
Moneygram would be a pivotal component to XRP, and by the end of this year, i.e., Q4, we could see most of the financial institutions using XRP (xRapid) on-chain for cross-border remittance payments. This will have a massive impact on XRP in the market and can boost up its value very quickly.
As per the plan, there will be some international bank to bank payments via XRP. Moreover, XRP would also be used to bridge the walled gardens through the inner ledger protocol by the end of 2019. So, these are some key developments that can happen in the meanwhile that could really push the price of Ripple’s native token.
Some other developments that are going to happen in the Run phase are the following:
- XRP used globally for retail purchases
- IMF adopts XRP for e-SDR
- The global unbanked population uses XRP
- Increase in RippleNet efficiency with the rise in XRP value
- The U.S. and other states use XRP to back fiat and pay the debt
- XRP emerges as a supranational currency
- XRP serving as the world reserve currency
Ripple has some huge plans and is all set to revolutionize the world economic system. With such progress, investors would really show great interest in XRP. For those holders who are being impatient should hold with their assets because something big is coming your way and XRP would touch the skies. When? No one knows, nothing is guaranteed in the world of crypto.
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