There is no need to dwell on XRP because its success is inevitable thanks to Ripple Inc., the $10 billion company. This is the view of one XRP supporter whose Twitter post has attracted positive comments from the wider community.
TO EVERYONE ALIVE ON THE EARTH:
Since people STILL question this, let me be clear again: I stopped making videos and tweeting about #XRP as much because I believe its success is INEVITABLE because of @Ripple! To me, there's no use in continuing to perseverate on it. Done deal.
— DM Logic (@ImTheDebate) January 13, 2020
Ripple Inc.’s influence of XRP cannot be overstated. Although the company’s executives deny correlation, it continues to build products, chalk deals and fund projects that incorporate XRP and On-Demand Liquidity (ODL) in their operations.
Ripple Inc. is also very overt and direct on their objective. In the last few months, several XRPs have been released from their escrow account to decentralize and sparse XRP ownership across different XRP public addresses.
Moreover, to address claims of dumping on investors, Brad Garlinghouse, the CEO, in an interview said “dumping” or keeping prices low was not at their best interest and would never do that.
XRP is not a Security
On the ongoing court matter, the CEO further reiterated that XRP and Ripple are independent entities. Holders are therefore not dependent of Ripple Inc:
“I think it’s very clear that XRP is not a security. It exists independently of the company, Ripple. If Ripple, the company shut down tomorrow the XRP ecosystem would continue to exist. It’s an independent open source technology.”
“ I think it’s very clear that XRP is not a security….” Brad Garlinghouse pic.twitter.com/nlpbIzjxiN
— Digital Assets Daily (@AssetsDaily) January 12, 2020
MoneyGram Expanding to India
Meanwhile, EbixCash has partnered with MoneyGram, the ODL user, in a move that will allow MoneyGram expand their operations to the vast and crypto resistant India.
MoneyGram will now power remittance services in over 75,000 villages according to the deal. The MoneyGram Chief Revenue Officer (CRO), Grant Lines, said:
“India remains the world’s top recipient of remittances, and we’re excited to better serve this critical market through our partnership with EbixCash, a leading brand with an approximate 80% share of locations in the country.”
XRP Market Performance
XRP gains in the last week has tapered. For instance, despite optimism, XRP market performance is drub and is up a meager 2% in the last trading day. Meanwhile, Bitcoin (BTC) is up 5% and continues to steady above the psychological $8,000 further strengthening investor bullish cases.
XRP performance can’t also be compared with Bitcoin SV (BSV) and DASH, both coins have registered impressive double-digit gains in the top 20. The only positive development that can be drawn from the XRP chart is its gain against BTC.
At press time, XRP is at break-even with BTC, and down a mere 2%.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich