Ripple Killer? FedNow Fails to Dethrone XRP After One Year – Why Ripple Labs Remains Supreme

With initial expectations of being a “Crypto Killer,” FedNow has significantly failed to impact XRP and the broader cryptocurrency sphere.
Ripple’s focus on cross-border payments and the ongoing legal battle with the SEC have kept it in the spotlight.
July 2023 saw the US Federal Reserve, with thunderous promise, introduce FedNow, a 24/7 instant payment system that would disrupt the crypto sphere. Dubbed the “crypto Killer,” FedNow entered the market fully confident with its speed, security, and low fees, which would revolutionize payments and surpass what is often attributed to blockchain technology.
What FedNow offered was similar to what cryptocurrencies offer. Notably, this led analysts to speculate that FedNow might displace digital assets.
It has now been one year, and at the very least, FedNow has not posed a significant threat to XRP or the overall digital asset market.
Recapitulating, FedNow was introduced to remodel the traditional payment system, potentially pos

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