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.
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.
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
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.