Ripple Spearheads $6.5M Funding Round for the XRP Ledger Foundation as Part of a Community Effort to Improve the Ecosystem – September 26th, 2020

  • Ripple, GateHub, and Coil Donate $6.5 Million to the New XRPL Foundation
  • Ripple XRP Gains Momentum Rising Above the $0.2400 Level in Market-wide Rally

Ripple News Today – A while ago, the XRP foundation was established to work on improving the XRP Ledger and making every aspect of it better than ever. In their latest blog post, the foundation announced that they have received an amazing $6.5 million from XRP’s parent company, Ripple, Coil, and GateHub. As you already know, XRP is the flagship product of Ripple so it is not a surprise that they are donating to the development of XRPL. GateHub and Coil also have products on the XRP Ledger. So, it is not a surprise that they are also interested in the success of the network.

Ripple News Today – Ripple Continues to Promote the Development of the XRP Ledger

On more than one occasion, Ripple executives have made it clear that the XRP token isn’t affected by Ripple’s fate. They claim that XRP will continue to exist even if Ripple suddenly goes under. Still, Ripple is dedicated to the success of the XRP ledger. The XRP foundation was their idea and it is meant to promote independent interest in the XRP token. Any company interested in securing the future of the XRP ledger is free to donate through the foundation.

As part of their mission to make the XRP ledger better, the foundation is also going to work on evaluating validator performance on the network. They will promote the development of tools that will make things easier for developers and users. The CTO of Ripple, David Schwartz, said that the members of the board at the XRPL foundation are all dedicated to the network. This includes one XRPL developer, Wietse Wind, and others. Excited about the donation, a consultant for the XRPL Foundation, Bharath Chari said;

“The Foundation is extremely happy to work with stakeholders in the ecosystem for further innovation and use of XRP Ledger. We are committed to providing full support to growing the developer ecosystem.”

In addition to the XRPL foundation, an XRP Community Fund is also in the works. While the goal of both bodies is the same, they will each operate independently. The XRP Community Fund will be used to foster the adoption of the XRP token and the XRP Ledger. Both parties will work with academic institutions and other nonprofit organizations to ensure the long-term survival of XRPL.

XRP Price Prediction 2020 – Ripple XRP Price Prediction 2020

In other news, the XRP token has been doing relatively well since yesterday. At the time of writing, the price of the token was $0.241553. It is up by 4.61% against the USD and up by 5.83% against BTC. The trading volume over the last 24 hours is relatively bullish showing that there is a lot of activity on the XRPL.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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