The Central Bank Payments Conference will happen again this year. One of the subjects to discuss will be (again) blockchain and distributed ledgers technology which is becoming something of a fixture in this type of conferences (it was only a few weeks ago in Switzerland, were Brad Garlinghouse, Ripple’s CEO attended and addressed the audience).
Some specific questions are on the agenda like: are Distributed Ledger Technologies useful in RTGS systems? Can they be useful for cross-border retail payments? For paying securities? For issuing central bank money?
Dilip Rao, Ripple’s Global Head of Infrastructure and Innovation will be there. His answers to all the questions will be undoubtedly affirmative. He will plainly put some emphasis on how Ripple’s distributed ledger and blockchain is one o the best solutions (if not the best) in the market to tackle these problems.
Many questions will be answered by Mr. Rao within the conference, for sure, but he’s unlikely to say anything new as Ripple’s technology and use cases are already well-known in the industry and the crypto verse. He will probably speak about some of the latest Ripple Net members all over the world and explain why Ripple’s platform is gaining momentum across the globe.
Ripple (XRP)’s market performance
There’s another question that will be in the cryptoverse’s collective mind: is this intervention going to help XRP’s market performance in any way? Sometimes an vital announcement triggers a change in the market, and we could see one of those delivered by Mr. Rao. But will it happen?
XRP has lost 5.2% of its value over the last week. All of those losses (even more) have happened during the previous 24 hours. The token is trading at USD 0,40982, and it’s going down. The trend is red for sure, but it’s not as alarming as you could think, because the price is still slightly above the all-important psychological limit of USD 0,4.
But it remains unclear how XRP will behave in the hours and days to come because the technical picture for the hourly and daily periods is red, but the weekly and monthly ones are decidedly green.
In any case, Mr. Rao’s intervention is scheduled for June 26th, which is still more than two weeks in the future. So the chances are that short-term performance for the cryptocurrency will be affected a lot more by other news. Ripple keeps securing new partnerships all the time. They announce at least a new one every week or so, and the next two weeks won’t be an exception to the rule. Any of those announcements, especially if one of them turns out to be big, will be more influential (for now) than whatever transpires at the Central Bank Payments Conference.
Ripple’s XRP remains the world’s third largest digital asset by market capitalization, as well as one of the projects with the best fundamentals in the blockchain industry. So it’s sure to start performing well in the market. It’s just a matter of time.
The critical question, of course, is when that time will come? Even the best market analysts don’t know the answer to that question as things stand, but most experts agree that Ripple (XRP) is a sleeping giant that is about to wake up. And Mr. Rao’s exposition could turn out to be one of the triggers.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.