In this bear market we are facing, blockchains are focusing on development and partnerships as a sign of growth instead of the market prices seen. One of the largest corporations in the blockchain space, Ripple Inc., has been on the forefront in integrating its blockchain technology to financial institutions and partnering with these corporations to take over the global transaction market. With the company valued at $17 billion USD with the current price of XRP at $0.29054 USD. However, it is the big partnerships that the company has established that has made Ripple and XRP remain valuable in the past few months.
Nevertheless, the question of decentralized governance has grown to become Ripple Inc.’s greatest undoing as the huge stake the company owns in XRP gives the company control. The increasing influence of Ripple as a blockchain solution provider worries some quarters within the community. Is Ripple Inc. the biggest and most influential blockchain corporation yet?
The American wonder kid Ripple Inc., continues to flourish as banks and corporations across the globe continue to adopt the technologies from Ripple Labs. Navin Gupta who performs the roles of managing director in South East Asia and MENA in Ripple Inc. sent out an enthusiastic tweet that left most of the projects followers with a long term belief.
“Now we don’t approach banks…they approach us.” The tweet from Navin Gupta’s Twitter handle read.
These latest statements should confirm true as the xCurrent and xRapid technologies are integrated in over 100 banks across the globe with big corporations such as Bill and Melinda Gates Foundation, JP Morgan Chase, American Express and the Santander Bank already partners. What does this mean for the largest holder of XRP and the digital asset? Does an impact in partnerships reflect on the overall price of XRP? This is Ripple Inc. long term plan, one which will see institutional investors adopt the most efficient systems in global transaction settlements and further promote XRP to greatness.
The news on Bill Clinton attending the Ripple Swell Conference later in the year gives even more credibility to Ripple’s status. The former President of the United States was in office during the internet era in the 90s that has well been compared to this blockchain era. The expertise in understanding the legal and political framework of the system increases Ripple’s network within the corridors of power. The lawsuits filed against Ripple since the start of the year have dropped in number giving the team ample time and space to concentrate on making the already swift global settlement system better.
XRP in numbers
Being the largest XRP holder, conversations around Ripple Labs will trickle down to XRP price volatility. The coin is currently on a slight bullish momentum recording a price of $0.290540 USD, a percentage higher in the last 24 hours. A total daily volume of $273 million was traded across exchanges in this period. The coin remains third on the Coinmarketcap log with a total market cap of $11,439,269,165 USD.