XRP functions as a bridge currency for financial institutions to streamline cross-border payments. The XRP Ledger (XRPL) settles transactions in 3 to 5 seconds with fees as low as $0.0002. Major financial partners such as Santander and Bank of America have engaged with XRP, supporting remittance use cases and reflecting $10.3 billion in recent daily trading volume. Centralization concerns arise from Ripple Labs' ties, but the XRPL remains open-source and no single entity controls it. Delays in approving spot XRP ETFs by the SEC have weighed on XRP's price outlook. The appointment of Paul Atkins as SEC chair raises cautious optimism for future approvals.
XRP ( ), created by Ripple Labs, is a cryptocurrency designed to streamline cross-border payments, offering a faster and cheaper alternative to traditional systems like SWIFT. Operating on the XRP Ledger (XRPL), a decentralized blockchain, XRP enables transactions to settle in 3 to 5 seconds with fees as low as $0.0002. This efficiency has attracted partnerships with major players like Santander ( ) and Bank of America ( ), positioning XRP as a practical tool for global remittances, with $10.3 billion in recent daily trading volume.
A key factor influencing XRP's current price trajectory is the delay in approving spot XRP exchange-traded funds (ETFs). Despite previous high expectations that suggested a 95% approval chance by October, the Securities and Exchange Commission postponed making any decision until then. The days, though, are not solely related to XRP. Other ETF projects, including those for Solana ( CRYPTO:SOL), Litecoin ( CRYPTO:LTC), and a Grayscale Bitcoin Trust ( NYSEARCA:GBTC) Dogecoin ( CRYPTO:DOGE) ETF, have also been swept up by the delays.
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