CandleFocus Ripple Confirms FedNow’s Network Effects Will Transform Payments and Boost XRP
2024-09-10
Author: Content Editor
American technology company Ripple Labs Inc. has confirmed that the rollout of the United States Federal Reserve's instant payment service, FedNow, will have positive effects on its cryptocurrency, XRP. Ripple anticipates that the adoption of FedNow will disrupt the US payment landscape and lead to increased adoption of XRP. This, in turn, could encourage clients to use Ripple's network over the SWIFT network, expanding Ripple's business and boosting XRP's price. Ripple's partner, Volante Technologies, has collaborated with a custodian bank to test FedNow's functionalities, leading to speculation that the service could benefit XRP and Ripple. With Ripple's official confirmation, many are now awaiting the impact on XRP's future price. FedNow is already gaining traction within the ecosystem, offering a faster alternative to traditional card networks and potentially lowering transaction fees. Additionally, Ripple's efforts to address issues in the cross-border payment sector could further support XRP's price growth, with experts estimating it could reach $1 by 2025.
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