Ripple shared its forecasts for the crypto market for 2022

by in Cryptocurrency News


Cryptocurrency company Ripple, which includes a payment system and many other platforms, recently shared its vision for the near future of the digital space. The company's management is confident that in 2022 the number of participants in the digital asset market will rapidly increase. In addition, Ripple expects that in the coming year, the crypto space will be replenished with even more useful innovative developments.

Also, the company's analysts believe that the NFT industry will only continue to develop rapidly in the future. The success of this direction is guaranteed, experts believe, the main thing is to correctly and in detail analyze the demand for non-fungible tokens from both crypto-supporters and the creative community.

“If the NFT space creates free interaction with everyday users and retailers, it will ensure its long-term viability,” said David Schwartz, chief technology officer of the company.

In their “prediction”, Ripple analysts paid a lot of attention to NFTs. In a conclusion, the experts noted that the active release of non-fungible tokens by many companies showed the commercial utility of blockchain technology and cryptocurrencies directly.

Trending: BlackRock Presents Private Bitcoin Trust

“Cryptography will only be able to reach widespread use when the interoperability of digital assets allows traditional companies to use virtual money without any risk and doubt,” Ripple is sure.

The company’s specialists also emphasized that increasing the level of technical compatibility of XRP with the so-called multichains is the main task of Ripple in the coming year. To do this, the report states, it is necessary to find the most effective way to “build” some kind of “bridges” between blockchains. According to the developers, the implementation of this task contributes to the widespread introduction and promotion of digital assets.

It is worth noting that Brooks Entwistle, managing director of the RippleNet payment system (APAC and MENA), is convinced that in 2022, crypto money transfers and various innovative developments will be in the greatest demand from users.

Trending: BlackRock's Move to Crypto May Double the BTC Price: Cathie Wood

Among other things, Ripple expressed confidence that this year the role of regulators in the development and activities of crypto companies will significantly increase. This will happen, the report says, due to the rapid surge of interest in NFTs and digital currencies of central banks.