XRP May Experience A Spike In Adoption If Ripple Successfully Penetrates Chinese Market

ripple xrp price analysis

Over the years, Ripple has been expanding its network in the FinTech industry on a global scale. Little by little, the company is establishing a global presence with its eyes set at the Chinese market through its research partnership with Tsinghua University. THUIFR is a leading academic institute that is dedicated to policy advisory exchange, research, innovative incubation, and cooperation in FinTech.

Ripple’s Partnership With The Institute Of FinTech

One of the projects Ripple and THUIFR are working on will be the launch of a blockchain technology research scholarship program for Chinese graduate students. The main areas that will be covered by this program are blockchain technology development and international regulatory policies. This will be one of many projects by Ripple Labs to establish relationships and communication with leading world universities.

Since China has always had a strict stance on blockchain technology, analyzing blockchain policies and regulations within the region is of utmost importance. Even with the strict regulations, the blockchain community in China has joined the blockchain revolution. So, the development of the BRSP will encourage the promotion of blockchain technology in China. The director of international cooperation and development at THUIFR, Ivy Gao said:

“I think this program is going to promote future research into blockchain technology and career development in this field.”
Eric Van Miltenburg, the SVP of Ripple’s global operations said that the THUIFR project will introduce a new generation of Chinese people in the blockchain space and this is something Ripple is looking forward to. In his words:

“The goal of the program is to give Chinese students the opportunity to learn about blockchain research. It is in line with our global university blockchain research initiative. We, at Ripple, are happy to support this endeavor as we look forward to the launch.”

While many members of the blockchain community were excited about the news, some weren’t. One redditor with the username XRPingster said:

“In China, I don’t believe anything can happen without the government’s control. The Chinese government has its figureprints on everything that happens in the country. I don’t think this is good for Ripple. China doesn’t grant access except when it has something to do with intellectual property.

Will Adoption Of Ripple’s Technology In China Boost XRP?

As a trader who is thinking more about profit than about technological advances, it’s natural for you to wonder how this entrance into the Chinese market will affect the price of the XRP token. Well, the truth is that a promotion of Ripple’s technology doesn’t automatically translate to a widespread adoption of XRP. This is because many of the products being promoted by Ripple Labs don’t depend on the XRP token. The cross-border payment solutions the company provides has little to do with XRP. While xRapid uses XRP tokens for fees, xCurrent doesn’t require XRP at all. This isn’t to say that entering the Chinese market will not have an impact on XRP. It will help XRP get some exposure but it’s not going to be too significant.

XRP (XRP) Price Today – XRP / USD
NamePrice24H %

It’s important to note, however, that the strict stance by the Chinese government on Bitcoin and cryptocurrencies as a whole will make it rather difficult for Ripple Labs to penetrate the Chinese market talk less of promoting a spike in the adoption of XRP.

Do you think penetrating the Chinese market will lead to a boost in the adoption of XRP? Share your thoughts.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.


Please enter your comment!
Please enter your name here

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