Ripple update: Could someone answer my concern about XRP?
My biggest concern with XRP is this: OK let’s say 10% of the world’s banks are using XRP. Pretty good adoption there. Bank A sends money to Bank B using the XRP token. The token is immediately bought and sold in under 5 seconds so how does this add value to the coin? An amazing utility no doubt, but if it’s buy sell ratio is 1:1 the only increase in value is from people holding it. So how does bank involvement help?
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
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