Ripple (XRP) Will Succeed in the Long Term Due to Its Utility, Says Market Commentator Mickle

Mickle, a seasoned market commentator and wealth advisor, recently took to Twitter to highlight the utility Ripple and XRP provide to banks and large corporations.

Market commentator and wealth advisor Mickle recently highlighted the use cases that Ripple and XRP offer to banks and large corporations, which he believes will drive the token’s long-term success. However, he clarified that Ripple’s aim is not to replace banks or financial institutions, as commonly assumed.

XRP has been at the center of discussions about disrupting traditional finance. Its efficient transaction system, which leverages the XRP Ledger (XRPL), enables faster and cheaper payments. Notably, asset manager Grayscale included XRP in its discussion of potential alternatives to SWIFT last November.

This sentiment was also demonstrated in a live XRP use case in September 2023, which showcased how XRP reduced transaction costs and time in a payment between Japan and the United States.

Despite the token’s capabilities, Mickle suggested that Ripple’s goal is not to replace large institutions. Instead, Ripple aims to provide new tools and infrastructure to help corporations facilitate better payments. This objective is evident in Ripple’s multiple partnerships with central banks globally for CBDC initiatives.

For example, Ripple collaborated with Palau to develop a digital stablecoin. In December 2023, Ripple and the Palau finance ministry launched the second phase of the stablecoin pilot program.

Mickle highlighted Ripple’s utility as the reason for its constant appearance in multiple documents. He noted that corporations are starting to realize the shift to the digital era and the need to adapt. However, these institutions often lack the necessary engineers, infrastructure, or technical expertise. This is where Ripple steps in, offering the tools these firms need.

"That is where Ripple comes in,” Mickle remarked.

XRP’s Use Cases

In line with Ripple and its token’s expanding use cases, the payment firm recently deepened its partnership with Fenasbac, the National Federation of Associations of Central Bank Servers, to bolster the use of the XRPL in Brazil.

Analysts have pointed to the token’s utility in mainstream applications as a factor that could drive its price growth. Highlighting this utility, analyst XRP Captain argued last month that the token could reach $57. Following the token’s spike to $0.74 in March, Ripple CEO Brad Garlinghouse emphasized the importance of real-world utility.

To conclude, Mickle believes that Ripple’s focus on providing utility, rather than replacing existing institutions, will secure the token’s place in the future of finance.

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