Bank of America Is Using XRP (XRP) for All Its Internal Transactions, Says David Stryzewski

A recent statement by David Stryzewski, CEO of Sound Planning Group, has sparked discussion within the XRP community.

During an interview with FOX Business, Stryzewski claimed that Bank of America is utilizing XRP for all its internal transactions.

According to Stryzewski, the bank's extensive use of XRP is evident in the 83 patent applications it has filed for blockchain technology related to Ripple. He highlighted XRP's role as a "key financial vehicle for the future."

This statement has generated significant interest among XRP enthusiasts, who view it as a potential indication of mainstream banking adoption for Ripple's payment token.

Bank of America's membership in Ripple's RippleNet Governance Committee further strengthens this connection. The committee, which includes global financial institutions like Santander and Standard Chartered, works to establish standardized protocols for cross-border payment systems powered by Ripple's blockchain technology.

With Bank of America's interest in real-time payment solutions, this partnership aligns with the committee's goal to facilitate seamless communication and settlement between institutions.

Moreover, Bank of America's previous interest in blockchain technology is evident in a patent application filed in 2017. The bank proposed a settlement system that referenced a "ripple" distributed ledger.

This system aimed to enable real-time settlements and streamline interbank communications.

Although the patent discussed a prefunded ripple settlement, it did not explicitly refer to Ripple's payment token, XRP.

This patent, nonetheless, demonstrates Bank of America's early interest in leveraging decentralized ledger technology to enhance payment processes.

In other news, Ripple CEO Brad Garlinghouse revealed that he visited former US President Donald Trump at his Mar-a-Lago estate.

Joined by Ripple's Chief Legal Officer Stuart Alderoty, Garlinghouse stated that the meeting marked a "great way to start 2025."

This event comes amid growing attention on Ripple's legal wins and advancements in payment technologies, which have positioned XRP as one of the top performers in the cryptocurrency market.

With the recent launch of RLUSD stablecoin, and veteran analyst Ali Martinez commenting, "Don't sleep on $XRP!"]

Meanwhile, Ripple's stablecoin RLUSD has partnered with Chainlink to provide accurate and reliable price data through Chainlink Price Feeds on the Ethereum mainnet.

This integration aims to enhance RLUSD's reliability and adoption in decentralized finance, positioning it as a trusted asset for institutional and DeFi applications.

Despite these developments, the XRP price showed a negative trend, decreasing by 4.04% at the last check and trading at $2.32.

The price dropped further with a 3.66% decrease in market capitalization, while the trading volume surged by 98.60% over the past 24 hours, reaching $9.05 billion.

However, top analysts remained optimistic, pointing to a symmetrical triangle pattern on the daily chart for XRP. According to the analysis, Ripple (XRP) may have the potential for a Q1 2025 breakout by 16th January.