Major banks like Santander, SBI Holdings, PNC Bank, and Siam Commercial Bank use Ripple's technology (RippleNet) for faster cross-border payments, with some leveraging the XRP digital asset for On-Demand Liquidity (ODL) for FX needs, while many others use RippleNet's messaging for speed without directly using XRP due to price volatility concerns, though there's growing interest in fiat-backed stablecoins like Ripple's RLUSD.
Here are five of the largest players currently acquiring and holding XRP.
Several banks, including Santander and the Commonwealth Bank of Australia, have confirmed strategic partnerships with Ripple Labs.
Large banks such as Santander use Ripple's technology to power faster consumer remittances. U.S. banks have also shown interest. PNC Bank has joined RippleNet, and Bank of America has confirmed pilot programs using Ripple's infrastructure. However, few of these 300 banks are using XRP for settlement.
Yes, the ATO knows about your crypto. It has an extensive data-sharing program with crypto exchanges operating in Australia. In May 2024, the ATO announced it had requested personal and transaction details on 1.2 million Australian cryptocurrency users from crypto exchanges to recover unpaid taxes.
XRP is up 260% over the last five years (as of Nov. 30). To put it another way, if you had invested $100 in XRP five years ago, your position would now be worth $360.
Ripple Labs remains the single largest holder of XRP, controlling around 42% of the total supply. These holdings are primarily managed through the company's escrow system. Chris Larsen personally holds roughly 2.5 billion XRP across several wallets, accounting for about 4.6% of the global market capitalisation.
It's highly unlikely. With a circulating supply of 57.1 billion tokens, a $1,000 price would push XRP's market cap to $57 trillion—more than double the U.S. GDP and over half the total value of the global stock market. Is XRP a good investment?
In a development that could accelerate the evolution of cross-border financial infrastructure, JPMorgan's GTreasury initiative on the XRP Ledger signals a potential turning point for global payments.
XRP has been integrated into Japan's financial system for years, backed by real-world infrastructure and regulated clarity.
XRP has legitimate partnerships with major banks like Bank of America and JPMorgan Chase. The majority of Ripple's bank partners use RippleNet technology without requiring XRP, limiting demand for the cryptocurrency.
If Banks Use ODL (XRP) → Increased Demand, Possible Price Increase. If a bank or financial institution adopts ODL, it needs to buy and sell XRP for transactions, which creates real utility and liquidity. More ODL adoption would directly impact the demand for XRP and potentially increase its price.
A growing list of global banks and financial companies are using XRP for payments, liquidity, and remittance. Below is a table summarizing confirmed institutional adoption. Let's have a more detailed look at each of these institutions and how they use XRP.
For XRP to reach $100, its market capitalization would need to exceed $6 trillion, a staggering leap from the current $113 billion. Recently, Geoffrey Kendrick, the global head of digital assets research at Standard Chartered Bank, issued an extremely bullish price prediction for XRP.
According to people familiar with the work, the two are testing an Amazon Bedrock–based AI pipeline designed to shrink XRPL incident investigations from days to minutes. If the Amazon X XRP partnership works, it would mark one of the firs cases where AI directly improves the blockchain.
The reason it's not too late to buy XRP is because of the expected growth of the cross-border payment market. According to Allied Market Research, the global cross-border payments market is expected to grow from roughly $206 trillion at the end of 2024 to around $414 trillion by 2034.
✨Ripple's Position if SWIFT Adopts Blockchain
If SWIFT chooses a model similar to Ripple's, the XRP Ledger becomes a viable option for real-time cross-border settlement. Ripple already targets these functions through XRP-based liquidity routing and instant finality.
XRP, despite its current utility and potential to evolve into a more multifaceted player in the payments world, is structurally different from Bitcoin. I like to think of XRP as more of a business -- or at least an extension of a business (Ripple) -- whereas Bitcoin is more of a store of value.
7 Ways to Avoid Crypto Tax in Australia
All crypto transactions, no matter the amount, must be reported to the IRS. This includes sales, trades, and income from staking, mining, or airdrops. Transactions under $600 may not trigger Form 1099-MISC from exchanges, but they are still taxable and must be included on your return.
If you've bought, sold, or even received cryptocurrency in Australia, the ATO wants to know. In short: yes, crypto is taxed in Australia. Whether you're casually trading Bitcoin or investing in NFTs, the Australian Taxation Office (ATO) treats most crypto activity as taxable.