Ripple update: XRP, and wider crypto could deflate USD significantly
With crypto adoption, particularly XRP resolving the need for vast sums of money stored in Nostro/Vostro accounts, it’s foreseeable and rational to believe that at some point the USD could be significantly devalued via an influx of supply. As people put their USDs to use, rather than storing it all in virtually inactive or unnecessarily bolstered foreign bank accounts, the USD supply increases significantly, demand decreases (due to utility of crypto) and we could easily be looking at another Venezuela Bolivars situation, but for the world’s ‘go to’ currency, USD.
Put it another way; the world is acting as though the supply of USD is a lot less, because much of it is choked up doing absolutely nothing productive. Once portions of that is freed up, we could see a ‘ripple effect’ on deflated USD because demand for the dollar reduces, simultaneously as supply increases. The two happening together could create a compounding effect, which may also result in a lost confidence in the USD.
Just one of the many reasons I’m holding XRP. ✌🏻
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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