India is transforming itself into a digital economy and is a leading innovator in payments. The creation of an office in Mumbai will respond to the growing demand for smooth payments from customers of Ripple (XRP), Axis Bank and YES Bank, as well as from other banks and non-banks across the country.
Shortly thereafter, different banks and fintech began partnering with Ripple in the country, using cases such as RippleNet, xCurrent and even xRapid as cross-border payment methods. Among them is Kotak Mahindra Bank, a leading Indian bank with more than 1,300 branches in India, which will use RippleNet, a decentralized network of payment providers and banks that connect to each other through Ripple technology.
Instant and profitable payments powered by Ripple’s blockchain can be a transformative component of India’s economy, helping to bring the many who have limited access to payment services into the fold. They are committed to building our presence in this market with significant investment, and I look forward to expanding our local team with this vision.
Ripple XRP Could Emerge At The Next Bull Run
The decline affecting the cryptocurrencies market continues, and Ripple’s flagship product is not immune. The third largest crypto based on stock market capitalization is currently at around $0.46 to $0.48, down from last week’s $0.53 and 80% below its January 4 high of $3.31.
It is important to look at the historical trends of Bitcoin (BTC), the benchmark against which all other cryptocurrencies are considered. Suppose we take the four previous upward trends from 2011 (4.167%, 1.900%, 804% and 1.804%) and use their average to predict the following: we would arrive at a prediction of an increase in value of 2,190.25%.
What does this mean for Ripple XRP? We have seen in recent years that all the major cryptocurrencies tend to follow the same upward and downward trends, so if we apply this prediction to Ripple XRP with a value of $0.48, it would mean that the cryptocurrency will rise to a historical high of $10.51.