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Ripple (XRP) has turned bullish as the number of banks leveraging its decentralized network for cross border payments continues to rise. Reports that Bank of America has filed a patent for a settlement system citing Ripple ledger is one of the catalysts fuelling XRP price action right now.
Ripple Price Catalysts
The patent describes a system that utilizes a distributed ledger technology to facilitate interbank communication. With the proposed system, BAC seeks to enable real-time settlements through a decentralized ledger.
The filing of the patent is of great importance as it comes at a …
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