Ripple XRP has earned a lot of attention from global financial institutions in its pursuit to become the future settlement layer cross-border transactions with its cryptocurrency products. Its dominance is no being threatened by the rumored entry of social media giants Facebook into the cryptocurrency space. However, as this happens, XRP is receiving much-needed support from seniors in financial institutions much to the liking of the Ripple team and digital asset investors in favor of XRP. XRP news today looks at the real threat of Facebook’s GlobalCoin to XRP price prediction 2019 and what notable financial experts say in favor of XRP.
President of SBI Holdings Affirm Support for Ripple XRP
Yoshitaka Kitao, the president and CEO of Japanese banking group SBI Holdings, has reportedly thrown his weight behind Ripple and the XRP cryptocurrency. The Asian financial leader claims that Ripple through its products and the XRP token will boost international payments, improve their speed and reduce costs. While supporting Ripple XRP, he noted that Ripple and XRP are changing cross-border payment work.
As Smartereum reported, Ripple which boasts a real-time gross settlement system, currency exchange, and remittance network furthered its push to dominate cross-border payment space with the launch of its X-Rapid, a product that uses XRP tokens to provide instant liquidity for transfers. The product and other efforts have since endeared it to a good number of global financial instructions, some of which have conducted trails with a view to adopting the XRP. Yet XRP critics still abound.
XRP naysayers claim Facebook’s Cryptocurrency will Crush Ripple XRP
Ripple XRP critics are predicting doom for the third most valuable cryptocurrency by market capitalization citing the entry of social media giants into the cryptocurrency space. Facebook founder Mark Zuckerberg has in the past spoken of his interest in decentralization while the company now operates a well-equipped Blockchain division.
Though Facebook has had a rough patch with cryptocurrency—recall the crypto ban—it is widely believed that Facebook will launch its own cryptocurrency in the near future. When this happens, it is expected to dominate the cryptocurrency space starting with the very champion for cross-border payments, Ripple XRP. Comments credited to crypto experts Charlie Shrem and Max Keiser suggest that XRP will become useless once Facebook’s Global coin (or FaceCoin) goes live.
Keisser wrote on Twitter:
“The $FB global stable coin… FaceCoin obviates need for hundreds of alt-cons including XRP. The alt-coin apocalypse is nigh. This will drive Bitcoin higher, as BTC competes with Gold, not fiat. (Also, crypto ‘payments’ companies likely to wiped out)”
However, Ripple exec David Schwartz countered the putting into question critics’ understanding of Ripple and the XRP cryptocurrency.
MoneyGram Head Declares Support for XRP, Cryptocurrency
As the debate rages on, MoneyGram’s global head of product and innovation Youri Bebic has expressed his delight for Ripple XRP and cryptocurrencies as a whole. According to him, it is “highly probable” that the future of finance lies with cryptocurrency. As Smartereum reported in 2018, the money transfer giant conducted a trial with Ripple and Bebic has come out to say it was a huge success that showed that crypto has a massive in the financial space.
At the recent Institutional for Robotic Process Automation and AI conference, Bebic said:
“We did a proof of concept with one cryptocurrency…That was with Ripple…where we are trying to see if we can use cryptocurrency for liquidity in the markets…So cryptocurrency, if they all add scale, and if the markets are there with liquidity, could actually allow us to eliminate pre-funding of fiat… So, we are obviously looking into that. We are running some pilots and trials.”
XRP Price Today – XRP Price Prediction – XRP Prediction 2019
XRP Price, at the time of writing, is $0.4 to the USD. XRP Price is recovering along with the rest of the cryptocurrency market, following the drop two days ago. The XRP price is up by 1 percent in the last 24 hours but is still down by about 10 percent in the last 7 days according to data from CoinMarketCap. XRP price predictions 2019 have been mixed and widely influenced by speculations about Ripple partnerships—especially those in involving XRP token. The doomsday following the entry of Facecoin brings yet another perspective to XRP price predictions 2019.