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 <p class="paragraph">XRP (XRP), the cryptocurrency associated with Ripple, experienced a noteworthy surge in price earlier this month, buoyed by a double dose of positive developments.</p>
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 <p class="paragraph">In particular, federal judge Analisa Torres’ rejection of the SEC’s appeal reinforced her earlier ruling that Ripple’s sale of XRP didn’t violate securities laws. Adding to the optimism, Ripple recently secured a full operational license in Singapore.</p>
 <p class="paragraph">Although XRP has since retreated to the $0.50 mark, fresh positivity is again on the horizon.&nbsp;</p>
 <p class="paragraph">Notably, it appears that cryptocurrency is emerging as a favored choice for cross-border payments and settlements in Mexico, potentially rekindling investor enthusiasm.</p>
 <h2 class="wp-block-heading" id="h-what-happened">What happened?</h2>
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 <p class="paragraph">According to a document on Banco de México’s official website, the <a rel="noopener noreferrer nofollow" title="central" href="https://thebittimes.com/tag/central.html">central</a> bank is planning to utilize one of Ripple’s liquidity solutions, a pivotal bridge between the US dollar (USD) and the Mexican peso (MXN).&nbsp;</p>
 <p class="paragraph">Specifically, the document mentions xRapid – a Ripple product that uses XRP as a “bridge asset” that businesses and financial institutions can leverage as a bridge transfer between two different fiat currencies.&nbsp;</p>
 <p class="paragraph">In this case, Mexico’s <a rel="noopener noreferrer nofollow" title="central" href="https://thebittimes.com/tag/central.html">central</a> bank is looking to utilize xRapid as a bridge mechanism between the USD and MXN.&nbsp;</p>
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  <p class="paragraph">“xRapid payments are fully settled in two minutes or less and reduce costs by 40-70%. This near-instant settlement is in contrast to cross-border payments in the traditional system that take three-to-five days to settle.”&nbsp;</p> <cite>– Banco de México wrote in the document.</cite>
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 <h2 class="wp-block-heading" id="h-what-does-this-mean-for-xrp">What does this mean for XRP?</h2>
 <p class="paragraph">Naturally, Banco de México’s <a rel="noopener noreferrer nofollow" title="adoption" href="https://thebittimes.com/tag/adoption.html">adoption</a> of xRapid and its plan to use XRP as a bridge asset represents a major milestone for the cryptocurrency.&nbsp;</p>
 <p class="paragraph">For years, Ripple has been aggressively promoting the scalability, speed, and low cost of XRP to global financial institutions. With Mexico’s <a rel="noopener noreferrer nofollow" title="central" href="https://thebittimes.com/tag/central.html">central</a> bank joining, XRP continues to prove its appeal as an asset with multiple use cases, beyond just cross-border transactions.&nbsp;</p>
 <p class="paragraph">As more banks and financial institutions recognize XRP’s potential, the crypto token is a step closer to mainstream <a rel="noopener noreferrer nofollow" title="adoption" href="https://thebittimes.com/tag/adoption.html">adoption</a>.&nbsp;</p>
 <p class="paragraph">If such developments continue without significant regulatory hurdles, the growing adoption of XRP means heightened institutional interest, potentially exerting substantial influence on the price of the token.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/what-s-next-for-xrp-as-mexico-s-central-bank-eyes-ripple-adoption-tbt65668.html">https://thebittimes.com/what-s-next-for-xrp-as-mexico-s-central-bank-eyes-ripple-adoption-tbt65668.html</a></p>

What’s next for XRP as Mexico’s central bank eyes Ripple adoption?

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