In a recent analysis, crypto analyst “Flip The Chain” highlighted knowledge by Michele Worthington, project manager and designer for San Francisco luxury properties and homes. Worthington’s comments, primarily focused on XRP, present a detailed view of the future of the digital currency beyond simple market speculation.
XRP prepares to break free from speculative prices
Worthington’s analysis begins with a clear distinction: “Although the price of XRP is currently driven by speculation, like many other tokens, including Bitcoin, it is on the verge of a significant change. As the financial payments industry, historically slow to adopt digital technologies, advances, the pricing mechanism of XRP will deviate from these speculative trends.
According to her, this change will make XRP immune to traditional market fluctuations, crypto-related events like Bitcoin halving events or “sporadic” news cycles.
It highlights the unique benefits of XRP for banking and financial institutions. “XRP stands out for its ability to execute bank payments in just seconds at a fraction of the cost. For example, a $50 million cross-border transfer can be made for as little as 30 cents. Such efficiency is essential in the financial sector.
XRP’s integration with central bank digital currencies (CBDCs) is highlighted by Worthington as a key factor for its future trajectory. She notes: “Synchronization of international compliances and regulations is crucial for CBDCs to effectively integrate with XRP. This was the subject of numerous pilot tests and partnerships, leading to the adoption of the ISO20022 standard. The standard is expected to come into effect on November 19, with a transition period until the end of 2025.”
2024: a pivotal year for Ripple
She also draws attention to Ripple’s strategic preparations for this change. Ripple has formed a network of global alliances including Japan, Australia, UK, Singapore, Hong Kong, Africa, Switzerland, Dubai, UAE, BRICS as well as with the BIS, the IMF and more. She says this sets the stage for 2024 to be a pivotal year. Once the banking sector integrates XRP, the influence of retail investors on its price will become negligible,” says Worthington:
When the banks come online, the small retail investor will not drive down prices. Each XRP must have a very high value to move a large part of the $7 trillion daily in the world’s foreign exchange market.
Additionally, Worthington also highlights the potential of XRP in tokenizing various assets, such as bonds and real estate, emphasizing its non-proprietary nature but its important role in handling large volumes, making the XRP token even more valuable.
Regarding liquidity solutions, Worthington says: “Testing of XRP with over 30 central banks demonstrates its ability to alleviate liquidity concerns, particularly in transactions involving less liquid currencies. »
She concludes: “XRP’s role in currency transportation is unprecedented, particularly in terms of scalability, interoperability and liquidity. Its emergence as a revolutionary element in the financial sector is not only likely but imminent. […] XRP carries the currency. No other token can do this at such a scale of interoperability with this type of liquidity. It’s revolutionary.
It is important to note that the views and predictions shared by Michele Worthington represent her individual perspective on the future of XRP. As with any analysis, its ideas should be considered part of a broader range of expert opinions and not definitive predictions.
At press time, XRP was trading at $0.6536.
Featured image of Libertex, chart from TradingView.com