NNF | Look Ahead! The Crypto Market closed flat this week!
Look Ahead!
The crypto market has closed flat this week!
This week on NNF (Navigate with Nord Finance),
Let’s dive into the crypto market and take a look at XRP.
NNF of the week:
1 Min Market:
The crypto market has calmed down after the last two week’s surprising news. The market is looking ahead to see the bigger picture and find value.
As mentioned in the last two newsletters, The market will remain in a slightly volatile state for a couple of weeks but the worst is likely to be behind us. Every financial market has good days and bad days but over the few years market remains positive because of the technology and the problem various underlying companies trying to solve. This is a good time to explore and learn the potential of different cryptocurrencies and slowly start building a long-term portfolio.
Check out this week’s market performance.
Catch the Coin:
Today, we’re demystifying XRP in this segment.
We’ve dived into XRP to give you an idea of how far XRP has come and what the future looks like for XRP.
XRP Overview:
$XRP is a digital asset created by Ripple Labs as the building block for their financial ecosystem. It includes a real-time gross settlement system, currency exchange, and remittance network — all powered by one cryptocurrency — the XRP token. Ripple Labs claims $XRP to be ‘the most practical cryptocurrency’ for financial services applications.
Ripple is essentially building a parallel ecosystem for banking and financial services across the globe. By employing cryptocurrencies and the blockchain ledger, they are creating a transparent ecosystem with a friction-free transfer of money at negligible cost. $XRP payments are claimed to be cleared in between three to five seconds.
Supply:
100 Billion $XRP
Market Cap:
23 Billion+ USD
Use Cases
Cross-border payments are the largest use case of Ripple. And this is employed by some of the biggest names in the financial services industry like Bank of America (BoA), and Standard Chartered Bank (UK) amongst others.
Payment and Remittances by XRP allow global trade and business to function without any friction. It enables micropayments at high speed and low cost. Institutions like SBI Holdings of Japan and others are planning to use Ripple as a settlement layer between banks.
Future Overview:
Institutional involvement is a clear sign of growing interest in the technology of Ripple. And the $XRP token acts as the neutral currency between global trade participants. The robust partnerships in place and the growing DeFi ecosystem of Ripple with DEXs and cross-chain bridges, the $XRP bandwagon is showing no signs of slowing down.
BTS Scoop of the week:
Our NNF (Navigate with Nord Finance) newsletter subscribers have received behind the scene updates on our upcoming Crypto Investment Platform.
