Ripple $2.3continues to attract attention with its adoption and price performance in the crypto market. The latest XRP news reveals that Bank of America uses the Ripple token in all its internal transactions. The accuracy of these claims and their possible impact on the XRP price are being evaluated. Trump, who announced that the USA will be the crypto center, may take steps to support Ripple, the largest crypto payment infrastructure initiative in the country.
Bank of America and Ripple (XRP)
Sound Planning Group CEO David Stryzewski claimed in an interview with FOX Business that Bank of America has integrated the Ripple token in its internal transactions. Stryzewski stated that the bank has applied for 83 patents related to Ripple, and thus XRP is on its way to becoming the main component of the financial system in the future.
“XRP will be the fundamental infrastructure on which everything will run in the future.” – David Stryzewski
Ripple launched its stablecoin called RLUSD to achieve global acceptance and adoption. Additionally, the Ripple payment network contributed to the development of the crypto industry by providing millions of dollars in donations to the 2024 elections. Ripple CEO Brad Garlinghouse stated that these donations are intended to monitor crypto regulations and improve the industry.
XRP Price Predictions
Despite the current bearish trend, the long-term price chart indicates that XRP will rise in the near future. Following positive performance in the last two months and a rise to a seven-year high, analysts are expecting a big price increase for the end of January. While the current XRP price is $2.32 according to CoinMarketCap data, experts set a target of $3.50-4 at the beginning of February.
David Stryzewski’s claims are seen as a sign for global adoption of XRP. Many financial institutions are considering integrating this blockchain technology. The launch of RLUSD stands out as an important step that will support this process. Although technical indicators and market conditions are bearish in the short term, the XRP price is expected to reach $4 in the long term.
Ripple’s collaboration with Bank of America and the launch of RLUSD could contribute to XRP gaining a wider foothold in the financial system. Additionally, Ripple’s political connections and regulatory advancements may also positively impact the token’s future performance.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
