According to Ripple’s Report, the Number of Believers in Blockchain Integration is Increasing.

  • According to Ripple’s 2023 New Value Report, more than 90% of finance industry leaders now believe.
  • The report revealed that 58% of finance industry executives believe that the biggest benefit of blockchain and cryptocurrencies is payments.
  • Although recent developments have changed the possible outcome of the case in favor of Ripple, there is still a risk of a different outcome.

According to Ripple’s new report, the number of finance industry executives who have jumped on the blockchain frenzy train is at a record level, with 90% of industry leaders believing in blockchain.

Ripple Releases a New Report

ripple-xrp

There is a consensus on the integration of blockchain technology into global finance. People, including leaders in the finance industry, now believe in this possibility more than ever before. In fact, the number of finance industry executives who have jumped on the blockchain frenzy train is at a record level. According to Ripple’s 2023 New Value Report, more than 90% of finance industry leaders now believe.

The same report predicts that blockchain will not only impact the finance industry but also businesses and society in general. The report revealed that 58% of finance industry executives believe that the biggest benefit of blockchain and cryptocurrencies is payments, especially cross-border payments. Tokenization was also among the use cases that would trigger growth.

Interestingly, these two areas fall within Ripple’s scope of operations. Ripple is uniquely positioned to take advantage of opportunities in cross-border and tokenization segments. The long-standing legal battle between Ripple and the SEC is the biggest obstacle or deterrent to their plans.

What’s Next for XRP?

Although recent developments have changed the possible outcome of the case in favor of Ripple, there is still a risk of a different outcome. Investors are aware of this, so XRP is struggling to rise above $0.50.

After experiencing a decline for the past three weeks, XRP is currently trading at $0.4738. Traders should note that it is struggling to secure decisive volumes at the rising support level as of July 12. Additionally, the price movement suggests a higher probability of a downward slide due to weak support.

On the other hand, there are some on-chain findings that could support a potential upward movement in the next few days. Investor sentiment, as shown by the weighted sentiment scale in the past 30 days, is consistently increasing. Ripple’s increasing development activities may also contribute to investor confidence.

xrp-development-activity

While the above findings support a potential rise, low buying pressure continues to hold back XRP bulls. Additionally, there is uncertainty regarding the legal battle.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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