Targeted market for XRP (Crypto: xrp) is the financial industry. That makes sense, given that the focus of the chain is to provide almost free transactions that close quickly as well as the cross card crossing. But banks and other financial institutions are not the only organizations that benefit from these options.
In fact, there is another category of potential users of the XRP that could require so much coin that its price increases for years at the end, potentially surpassing $ 3, assuming that they actually hear about it and decide to use it. So is this possibility of buying a coin or is the opportunity too uncertain for a reliable investment?
People tend to migration according to sources of economic circumstances. This often brings people to the transition of international boundaries. Then, when these people have income, very often they send some of their money to the family in their homeland in a transfers called a remittance.
2023, according to the US Federal Reserve, about $ 818 billion was sent. This sum is expected to grow consistently in the coming years, and can increase by as much as 2.8% in 2025. Only half of the transfer transfer is considered to be recorded in formal channels, so the real growth rate may be even greater, as well as the true total sum of transfers.
People sending remittances come across some problematic problems with regularity. Between the cost of transmission and the currency exchange fees, international money transfer transfers can in some cases have a fee of as much as 20% of the amount sent. Furthermore, such transfers can take as many as five working days, which is a long time that the hard -earned money remains from their pocket from the point of view and migrants and their family members who are waiting for their money.
For a reference, since 2024, remittances were transferred from the US using any Fintech service made almost $ 30 billion. Therefore, there is an opportunity for XRP to record a part of this colossal transmission, both from now to elsewhere and between people and their families in other countries. Considering that the 24-hour volume of money trading was less than $ 6 billion from March 13th, grabbing even a daily volume slider would be a Gargantani increase in demand for a coin or perhaps a stable hosted in his chain.
But does this Option of XRP be worth buying alone?
Despite the fact that XRP is very suitable for remittance processing, marketing efforts for this purpose are just beginning. Ripple, the XRP company, establishes ties with financial institutions in the Philippines, Mexico and India, which are all major countries of remittance. But there is no information on how many volumes these partnership actually generate for a chain.
