Why the Momentum for Ripple XRP's Use Case Continues to Gather Pace

A summary here of recent developments in the Ripple project suggests that XRP is reaching a tipping-point and this is all thanks to its use-case.

Another successful xRapid pilot test, hailed as a 'game-changer', has been completed by Currencies Direct, a mainstream London-based provider of foreign exchange (FX) brokerage that handled 4.5 billion in currency swaps last year. The delighted Chief Product Officer, of Currencies Direct, Brian Harris, declared that;

Source; https://www.ccn.com/currencies-direct-ripple-xrp-money-transfer/

These XRP pilot tests are a demonstration of XRP's use-case, in addition to its utility of solving a banking problem of having to leave huge sums in nostro and vostro accounts all around the world to settle cross-border transactions. We only have to wait to see which of the biggest legacy banks using xCurrent will jump on board xRapid first and begin to source the liquidity of the XRP bridge asset to further increase their cost savings for cross-border payments, creating a competitive pressure for the others to follow suit.

The first adopters of XRP for cross-border payments are the following money-transfer providers and they have confirmed the reliability and cost savings of XRP, paving the way for the banks;

The major banks using xCurrent will no doubt be further convinced by the obvious success of Santander's One Pay FX mobile app. Santander is the 16th largest bank in the world and 37th in the Forbes Global 2000 list of the world's biggest public companies. They were the first to realise the potential of XRP. 50% of Santander's annual money transfers are now powered by Ripple.

xRapid recently went live with the release of Rippled 1.0;

The majority of nodes now run on Rippled 1.0, a production ready version for the nodes in the network.

Source; xrpcharts.ripple.com/#/topology

The number of nodes running on 1.0 is increasing at 'an exponential rate'

The introduction of Rippled 1.0 facilitates the SBI Virtual Currencies platform, which has been waiting to get up and running, with FIAT/XRP being the main trading pair on this exchange, an important driver of XRP liquidity.

SBI is already set to launch with the XRP/JPY trading pair available to 4 million account holders and counting;

Another event that exposes the obvious advantage of Ripple XRP is the hardware failure that resulted in a Europe-wide crash of VISA services;

Even after the outage was corrected, problems with VISA persist, due to a backlog of transactions. XRP has no such failure-points and it can scale up to 50k tps, whilst costing less than a penny.

In case you didn't see it, an old 2013 article written by Vitalik Buterin has emerged. Apparently, Vitalik Buterin was all set to work for Ripple, but couldn't obtain a VISA and he clearly saw the potential back then of Ripple's consensus network, which he describes as decentralized, whilst avoiding the downsides to the double-spend problem built-in to proof-of-work mining;

Source; https://bitcoinmagazine.com/articles/introducing-ripple/

All these recent developments pinpoint the obvious use-case of XRP that will see its adoption gather pace and see it break-free from the market domination of Bitcoin.

Speaking recently on CNBC's Power Lunch, Brad Garlinghouse explained how he believes the use-cases of Ripple will see it break free from the way Bitcoin's market dominance affects the price of XRP;

Indeed, we can already see the evidence of XRP closing the gap on Bitcoin's dominance;

During an onstage discussion at Codecon, Garlinghouse expounded another reason for this narrowing of market dominance, saying that Bitcoin may end-up being;