Ripple’s mission is to provide bank solutions allowing for faster payment settlement and lower foreign exchange fees. So they created the digital currency / ledger XRP.
XRP has gotten a bad rap over the years by the hardcore crypto maniacs out there because they claim XRP isn’t decentralized because of the Big Banks’ compliance requirements and members on their board who once held government position. Who cares whether they are decentralized or centralized, it’s about are they adding value to the Crypto space and recently, they are making money moves.
For instance, Xpring, the Ripple incubator, and investment arm revealed in a blog post on July 2, 2019, that it had invested $500 million in over 20 startups that are using the XRP protocol to grow the Ripple community.
In the same vein, Ripple on June 17, 2019, announced it has entered a strategic partnership with MoneyGram, one of the largest money transfer companies in the world.
It’s also worthy to note that the Federal Bank of India revealed in March 2019 that it has collaborated with Ripple in a bid to enable financial institutions to send cross border payments more securely.
The cryptocurrency community, on the other hand, are banking on developments of this nature to push the price of XRP above its all-time high of $3.15.
Many crypto analysts have predicted that the virtual asset may take charge and trade as high as $7 in the coming months.
If investments into worthwhile projects within the XRP ecosystem continue, investors in XRP/Ripple will be handsomely rewarded in the long term. The chart suggests the next levels to monitor are the daily demand zones near $0.25 and the daily supply at $82.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.