• XRP price has felt the heat of the crypto market’s recent upward push, but buyers need more strength to escape the current consolidation range.
• Ripple is focusing on real-world applications such as CBDCs and NFTs, as well as adopting ISO 20022 standards for its RippleNet network.
• Investors are hopeful of a bull run in XRP price with the upcoming final judgment by March’s end.
Ripple Committed To Real-World Applications
Ripple is committed to developing real-world applications such as central bank digital currencies (CBDCs) and non-fungible tokens (NFTs), with a focus on sustainability and practicality. Swift, the global financial messaging company, has revealed that it will adopt the ISO 20022 standard globally in March 2023. Ripple designed its RippleNet network with ISO 20022 standards from the outset, providing an interoperable platform for cross-border payments. Additionally, Ripple is also exploring potential use cases for NFTs in areas such as real estate and carbon markets.
XRP Price Trend
Although XRP token surged over 10% in 24 hours amidst intense volatility, buyers still need more strength to escape the current consolidation range and initiate a bullish trend continuation. With expectations of new pilot programs for Central Bank Digital Currencies (CBDCs) projected to reach highs globally, investors have high hopes for a massive bull run in XRP price soon due to the upcoming final judgment by March’s end.
Swift Adopting ISO 20022 Standard
Swift has announced that it will be adopting the ISO 20022 standard worldwide in March 2023 as an international standard for cross-border payments which aligns with Ripple’s plans from early 2023 when it designed its RippleNet network with ISO 20022 standards at its core. This adoption will help improve cross-border payments between countries worldwide while also providing interoperability across platforms and networks.
Ripple’s Focus On Cross-Border Payments
The emphasis on cross-border payments adds bullish sentiment to XRP’s future outlook as this is one of Ripple’s main focuses moving forward. The aim is to create a seamless global payment system which allows users to make transactions quickly and securely across borders without any additional costs or delays associated with traditional banking methods or services.
XRP Price Outlook
With all these developments ahead of the final judgment by March’s end investors are optimistic about a potential bull run soon despite bearish signs currently present in XRP price trend due to intense volatility within the crypto market space.