Cryptocurrency

Ripple rate Pump, thanks to Mexico?

Without a doubt, the Ripple rate is shown this year from its better side. After a disastrous 2019, the price of 1 XRP dropped by almost 50 percent, Ripple gain this year back to the ground. Reason for further hope, shows an Interview with Bárbara González Briseño. González Briseño is working as Head of Finance at Mexico’s biggest Exchange by the name of Bitso.
Why Briseño think that XRP and On-Demand Liquidity ‘amazing’ are and how the Ripple rate can benefit you in this article.

Ripple Use Case: remissen market, USA, Mexico

Known to see Ripple in a disruptive Position, which in the remissen market in the world has revolutionized to be. In this case, the self-declared aim of cross-border payments is easier, cheaper and make it faster. The example of the corridor, U.S.-Mexico, I would like to indicate why, in Ripple, with its product of On-Demand Liquidity produces a particular added value.
First of all, we note that the term ‘Remissen’ nothing other than the return means remittances from abroad, migrants living in their home countries. This process of back – and home remittance economies is an essential part of many people. Especially in the context of the United States and Mexico, this is extremely relevant. In the United States of America, many live from Mexico-born migrants, which transfer a portion of their wages back home. This provides, especially in structurally weak regions of Mexico for growth and provide a boost to the regional economy. In short: families in Mexico to benefit from the merits of their Relatives from the USA.
In the past, the process through payment service providers such as Western Union or MoneyGram (note: prior to its partial Takeover by Ripple) supply. Those who wanted to send money to their home had to attack, but deep in the pocket, and partially double-digit percentage of the remitter, sum of numbers to submit to the payment service provider. Thanks to the Ripple has changed this, however, is now positive.

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Bitso as a major factor for remissen market

We now come to Bitso and Bárbara González Briseño. Bitso is now the largest Exchange for the entire Latin American market. In addition to Mexico, in particular, Brazil and Argentina are important markets. The 2014, the Exchange has been able to count on Investments of Ripple, Coinbase and other companies in the crypto space, in order to pursue its expansion strategy.
In a Thursday Interview published Bárbara González Briseño spoke about the partnership between Ripple and Bitso, as well as the benefits of XRP in the context of ODL.
In the process, González Briseño commended Ripple and sees their solutions as a real Game Changer.

Thanks to the help of Ripple, the largest Exchange in Latin America is Bitso now. We have the largest liquidity from Mexican Pesos to Digital Assets and is the key partner of Moneygram for remittances from the U.S. to Mexico.

The Other Briseño spoke about the relevance of On-Demand Liquidity and XRP. They praised in particular the ever-growing acceptance and use of ODL. Literally, you said:

ODL is ‘amazing’. The transactions happen without any time delay, cost less, and you know exactly what time the payment when the receiver arrives.

In the process, González Briseño considered not only the financial perspective but, in particular, the benefits that arise for the families in Mexico and living in the U.S. migrants:

There are millions of migrants who send money from the USA back to their families in Mexico. These (families) have to wait for classic Transfers-long and life so often ‘week to week’. The time saved by ODL is immense. The low costs allow, that more remains of the hard-earned money to spare.

(How) Can benefit from the Ripple rate of it?

The exciting question is now: Can benefit from the Ripple rate of it? – In the past, we have often talked about this ‘Dilemma’. In the context of On-Demand Liquidity XRP acts merely as a bridge currency. The idea is the Following:
A national currency (USD) will be converted into XRP. XRP is transferred via the XRP Ledger with all its advantages, but especially the speed, in the country of destination. This process takes only a few seconds. Then XRP will be exchanged in the national currency. The process is efficient, fast and cost-effective. A crucial aspect here is the need for the price of 1 XRP is stable now. He’s not supposed to be explicitly volatile.

Irrational decisions with an impact on the Ripple rate

Because the price of XRP volatile would be would create the risk of purchasing power loss. To put it differently: it is mainly secondary, such as the Ripple rate is in the case of such a transaction, because Ripple is only used as a Medium of Exchange. An increase of the Ripple rate is not, first and foremost, by the use as a bridge currency to.
Nevertheless, it is burned for each transaction a small amount of XRP. This, however, is so low in comparison to the total number of XRP as the Ripple rate will not rise here, too. The probability that the Ripple rate increases, is another reason. When investors hear such a message, do you feel this as a positive.
As a consequence, many, especially those who are with the subject matter less familiar to expect an increase in the price of XRP. This triggers a certain self-fulfilling prophecy, as now, some people will buy XRP. News, fuelling the use of ODL and the triumph of the Ripple, therefore, can contribute to the Ripple rate increases.
This is rational? – No, not really. It happens nevertheless? – Yes, absolutely.

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How do you feel about the success of Ripple in the field of Remissen? – Can benefit from the Ripple rate of such messages?
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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.