That's false. XRP can be denominated in any currency, and is the perfect method of monetary transfer in instances where two countries, with two different currencies, and no one currency in common attempt to transfer money. It enables institutions to send capital across borders without any foreign exchange headache or fees. Transactions take 4 seconds. While only 11 out of every 100 transactions conducted between Ripple partners take place this way, each partner may be inclined to maintain an XRP reserve for such situations, driving demand. As partnership increases, so does reserve demand. The more banks that sign on and add reserves, the higher the demand and price will be.
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