Britain is scrambling to not end up in a no-deal situation, but the Ripple coin might be its solution. Today, Prime Minister Boris Johnson confirmed that what the EU was offering was not realistic in EU-Trade talks.
The deadline for the UK to negotiate an EU deal is the 31st of December, which means the UK has an impossible amount of time to make a decision. By the 31st of December, the UK will officially be cut off from the EU trading rules.
Likely, the UK may not be able to negotiate anything. The Prime Minister (PM) will have dinner with the EU chief Ursula von der Leyen later to discuss a deal.
What Boris Johnson should be feasting on is how Ripple could be the Brexit trade solution they have been dreaming of.
Ripple coin and CBDC news
The World Economic Forum recognizes that Ripple coin is the best cryptocurrency there is for making settlements across intra and inter-banks. With more banks opting to adopt central bank digital currencies ( CBDC), Ripple is also the perfect solution for them.
XRP can be used as leverage by CBDC’s. The manager of RippleNet delved online on the 27th of November, how Ripple would work well with CBDC’s because they can be transferred easily via the RippleNet.
The company declared XRP’s would be an excellent bridge currency for cross border processing payments.
The company also claims that it is more scalable than any other currency. Good scalability means that the currencies blockchain can accept users on it and deliver transactions and payments in a reasonable amount of time.
The Ripple coin has the most capacity to enable people to pay across the borders most efficiently. Comparably, Ripple is less costly than the other crypto coins. Using XRP could essentially make trading easier if cross border payments are made through it.
The idea of XRP being used alongside CBDC’s has had a positive impact on the coins performance.
XRP suddenly doing well
XRP is outpacing all other coins at the moment in terms of how much growth it has experienced lately. Typically, Ripple does not promote the Ripple coin, but the future of it is starting to look promising due to the emerging CBDC climate.
Peering over at the graph it is clear that over the last month the coin has experienced an influx of bullish action, particularly between the 20th of November and the 27th of November. In November, the influx of bullish action is indicated by the Moving Average Convergence Divergence (MACD) which is green and growing dramatically.
Since XRP’s growth spurt there has been a trend line of 16 degrees indicating steady bullish momentum although the coin is oscillating between green and red candles.
Ripple’s international agility
XRP is widely accepted and encouraged because of its excellent reputation amongst crypto users, banks, and international organizations. XRP is an effective way to lower costs when businesses choose to use CBDC’s trading services because of their low costs.
Ripple’s ability to cross a wide range of borders is what makes it a plausible trade solution in a no-deal Brexit climate.