Today Ripple (XRP) is trading at under $0.45 and that’s unimaginable, when you factor in the partnerships that ripple has made in the last few months. However, this may change soon thanks to SBI VC. On the 18th of July, SBI VC will start the general application process for investors through the SBI exchange. This is a big deal because the SBI exchange will primary be trading in XRP. As such, once they open up to the general public, ripple XRP volumes will surge significantly in the Japanese market.
But what’s most interesting is the fact this is not just another exchange opening up ripple trading. SBI, through SBI Ripple Asia also leads a consortium of banks that control more than 80% of the Japanese banking market.
The consortium is looking to create a ripple powered instant transfer apps. In essence, the fact that the SBI exchange will be opening up trading in ripple (XRP) to the general public means it will unlock ripple (XRP) liquidity, and drive up ripple usage by banks in Japan. Given that Japan is one of the largest cryptocurrency markets in the world, an adoption of ripple (XRP) in this market, would easily mark its adoption all across the world.
It would not be surprising if ripple (XRP) starts decoupling from bitcoin (BTC) after the 18th of July. Up to this point, it is bitcoin (BTC) that has held back the crypto market, including ripple (XRP). Without bitcoin (BTC)’s stranglehold on the market, ripple (XRP) would be trading at 100s of dollars by now. That’s because the moves that ripple has been making in the market are unrivalled. It has created partnerships with more than 150 banks, as well as other financial institutions. Its key people are also sitting at important organizations including at the Federal Reserve, and other organizations that are backed by the World Bank and the United Nations.
All ripple needs at this point is a huge boost in volumes independent of the rest of the market, and it will be on its way to the moon. SBI has already launched ripple (XRP) trading for corporate clients, and the 18th will open the flood gates for the retail players. That’s where the much needed volumes will come from, and break ripple (XRP) away from the hold that bitcoin has on this market.
So how high can ripple (XRP) go, once the Japanese take it up at scale? Well, while that single event might not take ripple (XRP) to over $100, it sure will mark the beginning of a long-term uptrend for ripple (XRP). Actually, these could be the last few days to see ripple (XRP) trading at under $0.50. Those who hold ripple (XRP) sure stand to benefit a big deal once the uptrend begins. In the next few months, ripple (XRP) could easily overtake bitcoin (BTC) as the number one crypto in the market. There is no reason why bitcoin (BTC) ranks higher than ripple (XRP). Whether it’s in adoption or in their technical capabilities, XRP stands out at this point.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.