Xrpwith (Crypto: xrp) The price is currently close to $ 2.14, but in accordance with the momentum of coin in the last year or so, there is now another driver to climb more than $ 3 and beyond.
Moreover, there is another evidence that will see more use for exactly what its creators intended for the exact demographics that was positioned to get the most mileage. Let’s separate what is new with the XRP and why it is a bull’s factor for his price and in a close and long -term time.
Since February 19 to institutional investors in Brazil has been allowed to retain and trade Funds traded on exchange (ETFS) who hold XRP. Now investors in these financial institutions will be able to contribute to the amount of traffic on the XRP chain, which has been almost $ 7 billion in the afternoon of February 26 during the previous 24 hours.
This new development supports the idea that the coin will continue its ascent, despite the increasing by 328% in the last 12 months. In Brazil, the approval of the first XRP ETF will probably open the way for future ETF, which will create more volume of trading, and it is also very likely that the retail investors will be allowed to buy funds. More importantly, ETF issuers will have to buy and hold XRP to offer a financial instrument to their clients.
When publishers buy, sell or transfer XRP, will generate fees. These fees return to Ripple, a job held by XRP Blockchain. Finally, there is sufficient fees to finance the upgrade of the network or to finance business development activities in new markets such as Brazil to include more institutional users.
But ETF is barely the first foot on the door that XRP has in the ground. Its largest exchange bank already uses a chain, and recently launched its own stablecoin to facilitate transfers. Stablecoin will also generate compensation for XRP, although it is not the gender token of the chain, so the fact that the main processor of international money transfers is already on board another driver of higher prices in the near future.
In addition, the Brazilian move directly confirms the validity of the investment thesis for the coin, namely that financial institutions that need to make many international money transfer transfers will be encouraged to buy to avoid a currency exchange fee, as well as money transfer fees. For investors, this is a clear sign that the chances of the XRP increase above $ 3 look better and better.
