• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: SEC Strikes: Seeks Temporary Restraining Order To Freeze Binance.US Assets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: SEC Strikes: Seeks Temporary Restraining Order To Freeze Binance.US Assets
Ripple releases 1 billion xrp

Brian Kelly: Ripple Needs More Utility for XRP Prices to Increase

Osato Avan-Nomayo by Osato Avan-Nomayo
5 years ago
in Ripple, Altcoin News, Altcoin Price, Altcoins, Markets and Prices, News, News teaser
0

Brian Kelly, the CEO of cryptocurrency trading firm BKCM, believes that investors are missing the bigger picture when it comes to Ripple. Speaking with CNBC, Kelly outlined the potential utility for both the Ripple Ledger and XRP.


Ripple’s Utility in the Payments Arena

The global payments industry is incredibly massive. Advances in cross-border payments and international banking systems have increased the total addressable market — with BKCM’s Brian Kelly claiming that the size of the internal payments market, alone, is $155 trillion. According to Kelly, it costs about $31 billion to move the entire $155 trillion strong market.

Ripple’s core mandate is to be a real-time gross settlement system, currency exchange, and remittance network. Ripple CEO Brad Garlinghouse and the team at Ripple believe that XRP can find significant utility in the payments industry — potentially saving banks up to 60 percent on international money transfers. However, to enjoy such incredible cost savings, banks have to use both the Ripple ledger and XRP token framework.

Ripple Shoots Up After AMEX Deal and Secret US Bank Meeting

Cost Savings on Nostro Accounts Reconciliation

Nostro accounts are an integral part of the international banking framework.

Simply put, a Nostro account is a foreign currency denominated account held by a bank in another country. Part of the expenses incurred by international banking activities is the inventory cost of maintaining these foreign accounts. According to Kelly, banks can eliminate this cost by using the Ripple ledger and XRP tokens instead of holding foreign currency in overseas accounts.

Ripple, for their part, has been making giant strides in the payments ecosystem. No other cryptocurrency has as many strategic banking partnerships as Ripple. Both RippleNet and xRapid platforms have attracted no shortage of banking partners and financial institutions. However, the value of XRP tokens does not yet reflect the rapid expansion of Ripple activities.

Ripple Price Analysis: “The Bigger the Base, the Higher in Space”

 

When looking at the above XRP price chart, the popular stock market adage “the bigger the base, the higher in space” comes to mind.

XRP prices have declined since the start of 2018, in line with the rest of the cryptocurrency market in general. However, XRP prices show an extended base period which — if Louise Yamada, Alan Shaw, and Smith Barney are correct — indicates a massive XRP rally might be imminent.

For this happen, Kelly believes that Ripple needs more utility — not only for its ledger framework but for its tokens as well. Commenting on the issue, Kelly said:

The knock on Ripple if you are a currency investor is that you can use the ledger without the currency [XRP tokens] and that’s why [XRP] has to have a utility.

Do you agree with Kelly’s summation that increased XRP utility will drive up the price of the token? Let us know in the comments below. 


Images courtesy of Shutterstock, Bitcoinist archives, and CoinMarketCap.com.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Osato Avan-Nomayo

Osato Avan-Nomayo

When I am not knee-deep in cryptocurrency-related news, I am either attempting to beat my scrabble high score or internally debating an existential dilemma.

Related Posts

USDC and Abritrum

Circle Announces Launch of Native USDC on Arbitrum Network, Aims for Faster Transactions

5 days ago
Ripple xrp

XRP Jumps 10% As Ripple Returns 900 Million Tokens To Escrow

5 days ago
Circle

Circle And Arbitrum Launch Native USDC: What You Need To Know

6 days ago
XRP

XRP Community Voices Appreciation To Deaton For Defending Their Interests Against SEC

7 days ago
Ripple

Pro-XRP Lawyer Alleges Lack of Approval by SEC Ethics Office For Hinman’s Speech

1 week ago
Ripple

Pro-XRP Lawyer Offers Key Solution To Ripple’s Legal Woes Against SEC

1 week ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    6 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    6 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    6 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • Axie Infinity (AXS) Price Prediction: Can AXS Bounce Back?...

    26 mins ago
  • Top Cryptos to buy today: TOADS, ADA, RNDR, SOL

    1 hour ago
  • Is PEPE’s hype over? A look at the Next 5 Big...

    1 hour ago
  • 3 Top DeFi Cryptocurrencies for June 2023: Solana, Cardano...

    6 hours ago
  • TMS Network (TMSN) Illuminates The Crypto Scene, Outshining...

    6 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.