Leading banks are covertly experimenting with XRP to facilitate immediate cross-border transactions.

An analyst has suggested that XRP could achieve significant success, revealing that various financial institutions are exploring the asset for international payments. Nevertheless, a user has downplayed the potential effect on its price, claiming that utility and adoption do not affect the market. On March 26, XRP became a popular subject on social media after business leader and financial strategist Jake Claver brought attention to its rapid adoption. As reported by CNF, multiple leading financial institutions are now experimenting with XRP for instantaneous payment processing. Claver, however, did not specify which institutions were involved. Discussing the possible implications, the financial strategist indicated that users ought to monitor the market as $500 billion in assets begin flowing into the XRP Ledger (XRP) from the current initiative. A transformation is occurring right before us. Pay attention or risk being overlooked.. Interestingly, his comment sparked various responses from his followers, including one user known as CryptoTA, who dismissed the significance of institutional participation. He stated that approximately 11,000 banks are currently utilizing the SWIFT system, while Ripple has partnered with fewer than 100 banks. Additionally, he claimed that market movements are not influenced by usage, utility, or news. Instead, it reacts to the behaviors of whales. In defense of his viewpoint, CryptoTA noted that despite XRP experiencing various positive developments this year, its price has not mirrored this upward trend. In response to CryptoTA’s remarks, a user named “Dean G” explained that banks are not obligated to utilize SWIFT. “Dean G” highlighted that the previous cycle’s lack of positive progress can be attributed mainly to the ongoing legal issues with the U.S. Securities and Exchange Commission (SEC) affecting the asset significantly.