This is How Ripple XRP Momentum will Take XRP Price to the Roof

Lauren
May 31, 2018 Updated October 1, 2024
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Ripple XRP CEO Brad Garlinghouse talked about the momentum it is gaining and how it is different from mainstream stocks and other digital assets. This momentum surely has the third largest cryptocurrency XRP to go over and above $1 or $5 as it gradually gains resounding success and further penetrates the finance industry.

Advertisement
Advertisement

Ripple XRP momentum builds with resounding successes

A bull run is certainly looming over the crypto market. The starting effects can already be seen as the cryptos go green. However, Ripple is currently in the red at $0.61.

With this month at its end, it has been an amazing one for the Ripple as it made various announcements and successful usage.

In an interview with CNBC, Brad Garlinghouse, the CEO of Ripple talked about “signing 20 production contracts with new firms.” The company had a record first quarter as well.

Ripple also announced its latest partnership with the National Bank of Kuwait. The largest bank of Kuwait will be using Ripple’s xCurrent. The news came just days after the second-largest bank of the country Kuwait Finance House (KWH) became the first bank to join RippleNet for cross-border instant payments.

XRP is becoming a game changer as pointed out by the London-based foreign exchange company. The UK-based foreign exchange broker and international payment provider, Currencies Direct utilized XRP for money transfer between banking organizations in the US, Mexico, and Europe.

“Trial with XRP was a resounding success” stated the Chief Product Officer of the company.

Also, read: Cardano ADA 1st Smart Contract TestNet Launch Brings in Bulls, Will ADA Moon Soon

An exciting month up ahead for Ripple, XRP to surge high

Just recently, two FinTech companies, a Singapore-based InstaReM and Latin America-based BeeTech partnered up with Ripple. By using xCurrent and xVia, the aim is to provide real-time payment flow across borders.  

Brad also talked about the difference between the digital assets:

“There’s a very high correlation between the Ripple XRP price and the bitcoin price, but ultimately these are independent open-sourced technologies. It’s early, over time you’ll see a more rational market and behaviors that reflect that.”

He further explained:

“It’s still a nascent industry, the speculation in the market dominates the trading activity. I think it’s a matter of time until people better understand the different use cases.”

Commenting on the ongoing regulatory scrutiny on Ripple XRP among other cryptos, Brad maintained that it is different from classic stock in the way that:

“If you own XRP, you don’t own rights to the profits or any dividends to the company. XRP has real utility.”

The third-largest cryptocurrency in the world is one of the most influential cryptocurrency. With constant developments and number of partnerships, it remains focused and active.

Its various products like ripple xCurrent, xVia and xRapid are gaining wider adoption in the mainstream financial industry. Once it completely penetrates this market, it won’t be long when XRP will go to the moon.

Do you think these developments will have Ripple XRP price skyrocket? Share your thoughts with us!

Advertisement
coingape google news coingape google news
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Lauren, a blockchain, and a cryptocurrency strategist has created a project of crypto price predictions for each month.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.