- Ripple aims to transform global payments by 2030 using XRP and blockchain to make cross-border transactions faster, cheaper and more efficient.
- XRP’s value could rise significantly as Ripple expands its role in managing a projected $300 trillion cross-border flow.
Ripple is on the way to transform the cross-border payment system worldwide, as explained by Pegah Soltani, Ripple’s head of payment products. In a video posted by user Xaif (@Xaif_03) at X, Soltani explained how Ripple plans to solve problems with existing payment systems, highlighting its ability to revolutionize international finance by 2030.
Solving the challenge of cross-border payments
Soltani added that it is estimated that the volume of cross-border flows by 2030 will be 300 trillion dollars. However, the traditional payment system is still characterized by high costs, long transaction processing cycle and high error rate. Ripple, a company focused on creating blockchain-based solutions that can work faster and cheaper and are more transparent compared to current methods for international payments, is solving such problems.
It has established an efficient system in which funds such as XRP act as a bridging currency, thereby reducing cross-border transaction time. For example, when a company based in the United Kingdom wants to send money to another company in the Philippines, Ripple’s technology guarantees that the cash will be translated into Philippine pesos in real time. Soltani talked about the reliability and efficiency of the process, claiming that Ripple’s global partner base supports this.
XRP’s role in connecting underserved markets around the world
New capabilities, such as a global payment network, allow Ripple to take advantage of opportunities in many markets and currencies not offered by existing players. Any company can start implementing Ripple’s payment products in less than three weeks, with new settlements in seconds instead of days. Such speed and scalability make Ripple stand out from the competition in the field of cross-border payments.
The integration of Ripple’s products makes XRP one of the most popular cryptocurrency funds on the market for cross-border payments. The World Bank has recognized the effectiveness of XRP in cross-border settlements. Already today, Ripple has huge growth opportunities as it covers multiple territories, and its technology will be instrumental in handling the expanded estimated flow, which will reach $300 trillion by the end of the decade.
Projected XRP Value in a Transforming Financial Ecosystem
According to Xaif, if XRP were to handle the projected $300 trillion annual turnover, its value could skyrocket. The current circulating supply is 52 billion XRP; therefore the market cap can be as high as $5769.23 per XRP. This projection gives hope that Ripple’s platform will revolutionize financial sector.
There are many reports that XRP has the potential to act as the world’s reserve asset, with numerous financial gurus targeting roughly $10,000 for each token. While such predictions are speculative, they give a hint of the excitement surrounding Ripple’s revolutionary development and its effectiveness in transforming cross-border payment systems.
With the current global financial system constantly struggling with numerous inefficiencies, Ripple’s strategy to address them is now a new trend in the industry. The growing acceptance proves its impact on international payments and, consequently, the value of digital assets, all in line with the idea of reshaping cross-border payment systems.
