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<p>During <a href="https://captainaltcoin.com/bitcoin-price-dips-to-56k-heres-why-the-crypto-market-is-crashing-today/" target="_blank" rel="noopener noreferrer nofollow">this crypto market downturn</a>, the XRP price actually performed decently. It’s trading around $0.56 with the lowest dip among top 15 coins this week (only 2%).</p>
<p>This likely means that XRP holders weren’t panicking during this difficult period for other altcoins.</p>
<p>At the same time, Ripple’s continuing its development. Let’s see how will Ripple help <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> holders in the long-term.</p>
<h2 class="wp-block-heading" id="xrp-s-role-in-cross-border-payments">XRP’s Role in Cross-Border Payments</h2>
<p><a href="https://captainaltcoin.com/this-xrp-pattern-could-send-price-to-new-ath/" target="_blank" rel="noopener noreferrer nofollow">XRP plays a crucial role</a> in facilitating liquidity for cross-border payments through its integration with the Ripple protocol. Ripple’s payment solutions allow for the fast, cost-effective transfer of assets across different financial institutions.</p>
<p>As Ripple’s protocol becomes more widely adopted, especially by banks and financial institutions, the demand for XRP is expected to increase. This is because XRP serves as a bridge currency in the Ripple payment network.</p>
<p>Let’s try to understand this with an example.</p>
<p>When two financial institutions want to exchange currencies (e.g., USD to EUR), Ripple’s technology uses XRP to serve as an intermediary. Instead of converting directly from USD to EUR, the system converts USD to XRP, transfers the XRP across borders, and then converts it into EUR on the other end. This process is much faster and cheaper than traditional banking methods.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="538" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-90-1024x538.png" alt="" class="wp-image-551670" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-90-1024x538.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-90-300x158.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-90-768x403.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-90-1536x806.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-90-2048x1075.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-90-286x150.png 286w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-90-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-90-667x350.png 667w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-90-788x413.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-90.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>This <strong>growing demand can drive up the price of XRP</strong> because it plays a crucial role in providing <strong>on-demand liquidity</strong> for global financial transactions.</p>
<p>Recent developments on <a href="https://xrpl.org/" target="_blank" rel="noopener noreferrer nofollow">the XRP Ledger (XRPL)</a>, particularly in the area of decentralized finance (DeFi), are definitely an opportunity. Opening up DeFi opportunities on the XRPL is a priority for Ripple, mainly because this can further increase XRP’s use cases.</p>
<p>These technological advances and the implementation of new features on the XRPL have excited the XRP community and also attracted attention from the wider crypto space.</p>
<p><em><strong>Read also: <a href="https://captainaltcoin.com/top-analyst-reveals-why-banks-will-not-adopt-ripples-xrp-unveils-superior-crypto-alternative/" target="_blank" rel="noopener noreferrer nofollow">Top Analyst Reveals Why Banks Will Not Adopt Ripple’s XRP: Unveils Superior Crypto Alternative</a></strong></em></p>
<h2 class="wp-block-heading" id="potential-xrp-price-impact">Potential XRP Price Impact</h2>
<p>As the Ripple protocol gains widespread adoption, particularly in international markets, higher demand for XRP should be there. This, in turn, could drive up the price as more institutions and entities use XRP for liquidity in cross-border transactions.</p>
<p>XRP’s function as a native currency within the protocol differentiates it from other technologies, as it can transfer value, unlike typical internet protocols that only transfer information. This increased usage as a liquidity provider could drive the price of XRP upward, especially as Ripple continues to expand its partnerships with banks and financial entities.</p>
<p>Finally, innovations on the XRP Ledger (XRPL), like support for decentralized finance (DeFi), further increase its utility, contributing to a positive outlook for XRP’s value in the market.</p>
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/how-will-ripples-protocol-help-xrp-price-pump/" rel="noopener noreferrer nofollow">How Will Ripple’s Protocol Help XRP Price Pump</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

How Will Ripple’s Protocol Help XRP Price Pump

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