XRP Is In Charge Of Over 50 Percent of the Digital Currency Market in India

Ripple joins Blockchain Capital VC Fund with XRP investment worth $25 million price

The dynamic strategy of Ripple for increasing the adoption of XRP and pushing it into the global digital currency market seems to be kicking off in India. A representative of Ripple recently talked about this and explained what the firm is set to achieve.

Ripple Is Controlling 50 Percent of the Digital Currency Market in India

The Senior Vice President of Product for Ripple – Asheesh Birla, talked about the recent acquisition of Ripple of an enormous market share in India. He said that the Ripple firm presently owns about 60 percent of the total XRP tokens in circulation.

SEE ALSO:   Cryptocurrency Ratings: Ethereum and EOS (B), Steem, Neo and Cardano (B-), Bitcoin, Dash and Litecoin (C+), Monero and Ripple (C), Bitcoin Cash (C-) / Digital Currency Ratings - Mon Aug 13

The next goal of the firm is to try and convince financial institutions and banks in India to pave way for RippleNet. This will enable them to connect with more than seventy other financial institutions and banks from all over the world that are already using the products of Ripple.

The only condition the firm has is that all the banks will have to use the technology of Ripple to process payments. If this happens, the firm will gain up to 2 billion users.

An Edge to Gain Mainstream Adoption

The latest action of Ripple brought a huge amount of success, and the firm is presently making more than one deal in a week. Birla said that this is a significant development and the firm is selling its products to financial institutions and banks from all angles.

SEE ALSO:   Tron (TRX) Price Prediction: TRX to Hit $3.75 by December This Year and $12 by the End of 2019 (TRX Forecast June 2018) TRX News Today - Mon Aug 13

The initial trend of Ripple is to disrupt financial institutions and banks, according to Birla. Nevertheless, the firm has decided to take a different route and it has started working with them instead. With such collaborations, the adoption of XRP will see a significant increase which will, in return, increase its value.

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.264337
-13.96%

At the time of writing, XRP is trading at $0.4502 after a decrease of 3 percent over the past twenty-four hours. The market cap of XRP is $17.93 billion and its trading volume over the past twenty-four hours is $297.44 million.


LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.