Any doubts about the adoption of XRP are fading away by the day. That’s because the list of financial institutions using ripple is growing. But the biggest news is that MasterCard was mentoring ripple from its early days. As far back as 2011, current vice president for MasterCard used to mentor ripple. They were mentoring them on how best to scale, and work best with the finance industry. This goes to show that ripple has been in contact with key financial institutions since its early days and that their solutions are tailor-made for the needs of the finance industry.
This has wide-ranging implications for XRP (XRP) going into the future. The first one is that it gives XRP the leverage it needs for more adoption. That’s because it has been working with the big institutions from the very start, and as such is more accustomed to the needs of the finance industry as compared to any other cryptocurrency. As such, a bank or any other big financial institution for that matter that is layered with lots of bureaucracy would be more willing to test out ripple’s XRP as opposed to any other crypto project.
The second implication is that ripple XRP will, in the long run, be better placed to navigate regulations as opposed to the other cryptos. That’s because it is made with regulations in mind. With advice from financial institutions like MasterCard, ripple without a doubt understands regulations and their importance to the finance industry. This is part of the reason why ripple has gained so fast in the finance industry, with more financial institutions starting to use it. As such, going forward XRP will continue to gain in adoption, even as the rest of the crypto market struggles with mass adoption.
Thirdly, the fact that MasterCard was mentoring ripple means that they could be adopting the tech at scale, now that it has come of age. Ripple (XRP) would give MasterCard an increased level of efficiency that would see it gain an edge over its competitors. Naturally, its competitors will also adopt this tech to remain competitive, and add to the intrinsic value of XRP.
In essence, the fact that Ripple has early connections with a financial institution as important as MasterCard is a big deal, one that signals to its long-term growth prospects. Its price at the moment may not be that good, but it could also be a great opportunity to accumulate on XRP. That’s because in a bear market, it is always a great opportunity to accumulate on good assets, that hold good long-term prospects.
XRP is definitely such an asset, thanks to its connections with the finance industry. Institutions like SBI Japan, one of the largest in the world is already looking to list XRP. Once the market reverses, XRP will be one of the cryptos that dominate the race to the top. XRP hitting the number one spot is within the realms of possibility.