On January 10, Ripple published a blog highlighting its industry insights for this year.
Devraj Varadhan, Ripple's SVP of Engineering, projected a widespread shift in the crypto market.
Furthermore, Ripple's VP of impact, Ken Weber, predicts that leading NGOs will begin incorporating cryptocurrency into their programming.
The company's top executives believe that cryptocurrency and XRP adoption will continue to rise in the near future.
Filings of multiple crypto exchanges, has eroded the crypto community's trust. As a result, the industry is witnessing a significant drop in the adoption of these emerging technologies.
However, several experts remain optimistic about the crypto industry's future prospects. They believe that the industry will undoubtedly thrive in the long run.
In line with this, Ripple published a blog on January 10 highlighting its industry insights for this year. As the dust settles from last year's outbreaks, it is predicted that this year will focus on real-world crypto utility.
Devraj Varadhan, Ripple's SVP of Engineering, projected a widespread shift in the market. Things will shift away from extremely speculative companies to companies that use crypto technologies to address real-world problems.
Ripple General Counsel Stu Alderoty believes that the judge's decision on the company's ongoing case with the SEC will be favorable to Ripple. Stu added that the ruling will be made public in the first half of 2023.
According to Brooks Entwistle, SVP and managing director of APAC at Ripple, liquidity concerns will continue to kill cryptocurrency start-ups. He compares the current state of affairs to the "dot-com bubble."
Despite the market downturn, Ripple MD of Europe Sendi Young believes that institutions will accelerate their long-term adoption of crypto solutions. Because of potential advancements in efficiency, transparency, and speed. He believes that cryptocurrency and XRP adoption will continue to rise in the near future.
Furthermore, Ripple's VP of impact, Ken Weber, predicts that leading NGOs will begin incorporating cryptocurrency into their programming. He went on to say that carbon markets would most likely emerge as an obvious use case for blockchain and cryptocurrency.
The Ripple team concluded that the 2022 crypto winter would be followed by a 2023 utility-focused crypto spring.
In addition, the cross-border payments coin has increased by 3.8% in the last 24 hours. As a result, at the time of publication, XRP was trading at $0.3715.
What are your thoughts on Ripple's 2023 industry insights? Is it possible that crypto and XRP adoption will increase in the near future? Please share your valuable thoughts in the comment section below.
Also read: Amazon Partners with Avalanche to Accelerate Blockchain Adoption
