It’s official: Ripple has received its EU CASP license. We are now fully MiCA-compliant and ready to meet growing European crypto demand https://t.co/I9GRgvfGzH
I really don’t think people understand what 2021 crypto was like.
Everyone was winning and vibing.
People were tweeting “smoking weed and buying NFTs” and getting thousands of likes.
The whole industry was just happy for like a year straight.
It’s time to run it back.
I’ve read comments about how people don’t think Ripple won’t replace the current financial system. They don’t understand the XRP then, and are treating it like a security stock of a company, which it isn’t and has been legally deemed not a security of Ripple.
Yes, the XRPL will replace the current financial legacy system because the current system is old and clunky. Hundreds of trillions to quadrillions of dollars a year move around the globe and it’s slow. The intent of information moves at the speed of light like sending a text or email but the internet of value has been slow due to incompatibilities with other financial institutions, delays and slowness for security purposes, and it’s super expensive to maintain the systems that move the money along with the lost opportunity of locked up nastro/vastro accounts and funds of idle cash not able to be invested. The XRPL unlocks all that at scale in a secure, reliable, efficient, and extremely cheap solution - all in an interoperable way.
To not understand the XRPL and say it’s not going to replace the current financial system is exactly going back to 1999 and saying the internet will never be a thing and is just a fad.
The world moves at the speed of light securely, and it’s time the financial industry catches up, which brings me to my second point of how people don’t believe there could be a significant upside in price appreciation in a relatively short period of time. The best way to understand this is over the last 30 years the exponential growth in technology has allowed us to do some amazing things but the tech for moving money - still stuck 30 years ago. Like a basketball held underwater at the deep end of the swimming pool the global infrastructure has been developed and laid and battle tested. Every sector in the world operates quickly - except finance. Blockchain; specifically Ripple, solves that issue with the XRPL.
When everything is ready, which is very soon this year. The basketball underwater will be released. To us that seems like it should be immediately, but on a grand scale the price rise will occur over phases. At first it will rise to high 2 digits, then there’s enough liquidity in the XRPL to begin settling markets. As each sector of the economy or parts of the world onboard or connect to the XRPL for financial settlement then that’s when the price of XRP rises. The move value flooding over the network is what sets the price of XRP. Its utility.
The ability for retail to have any influence of XRPs price will go to 0, while markets, economies, companies, governments, etc. all using the XRPL to settle value in real-time for a fraction of a penny kicks in and the value is determined by its utilization correlated to the problem it’s solving - it’s utility.
There’s far more I could go into but I’ll stop there. For those holding, you’re really holding ownership of the future financial system. As Brad Garlinghouse has said “XRP is at the center of everything we do at Ripple” and how Monica Long has said “XRP is our North Star”