Over the last decade, the cryptocurrency space has gained adoption to a degree even if it hasn’t led the next industrial revolution as it was expected to. Even if Bitcoin was the first cryptocurrency to exist on the blockchain, many others have been created since then. Ripple and XRP have played a significant role in creating awareness for cryptocurrencies in the mainstream. This is according to the XRP news on CryptoNewz. As a digital asset investor on the XRP rich list, it is important to know how Ripple, the Silicon Valley tech company, and XRP, its flagship product, have driven adoption to the cryptocurrency space.
XRP News Today – XRP Rich List – XRP And Ripple Have Increased Awareness For Cryptocurrencies
According to the writer of the article, Ripple was able to create a version of what cryptocurrencies are meant to be with the XRP token. He made reference to the fact that cryptocurrencies were created specifically to replace traditional money and how Bitcoin has failed to do that since it was created. XRP, is faster, more scalable and more affordable than Bitcoin. In fact, it was created specifically for payment settlements and many companies across the world now accept cryptocurrency payments because of XRP and Ripple.
XRP (XRP) Price Today – XRP / USD
Even if Ripple and XRP aren’t as old as Bitcoin, Ripple has been able to get the attention of many leaders in the financial industry and sealed partnerships with various financial institutions. The xRapid protocol which uses XRP as liquidity has also gotten a lot of attention in recent time. In one of our XRP news, we talked about how the World Bank gave Ripple’s xRapid a thumbs up stating that it is driving traditional financial institutions to explore distributed ledger technology. Because of Ripple’s technology, JPMorgan, SWIFT and Visa are now exploring the limitless possibilities of blockchain technology.
xRapid isn’t the only technology by Ripple that is becoming a favorite for financial institutions, xCurrent has also become popular. In fact, Ripple’s xCurrent is being used by more banks than xRapid. The only difference is that xCurrent doesn’t require the XRP token to function like xRapid. Notwithstanding, it has created more awareness for Ripple and in extension, XRP.
XRP News – Ripple News – Ripple And XRP Dominates The Asian Market
Ripple isn’t just interested in dominating America, its ultimate goal is to dominate the world. Brad Garlinghouse, the CEO of Ripple, has, more than once, talked about how he and his team intend to overthrow SWIFT. While Ripple has clients from all over the world, more than 50% of its clients come from Asia. The company is also making waves in Europe and North America.
The expansion efforts by Ripple aren’t just beneficial for Ripple and XRP but are beneficial to the entire cryptocurrency space. After all, XRP is a cryptocurrency. So, the more people learn about XRP, the more people join the XRP rich list and the more people learn about cryptocurrencies and the underlying blockchain technology. It’s a win-win situation.
There have been some setbacks along the way. For example, the XRP SEC saga about the XRP security status has still not been squashed for good. Even if Coinbase and many other cryptocurrency exchanges have listed XRP, there are still some digital asset investors on the XRP rich list who believe that the XRP security status will change everything.
What do you think about the XRP news today? Are Ripple and XRP the vehicles that will drive adoption to the cryptocurrency space? Share your thoughts in the comment section.
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.