In July, Ripple, a leading fintech company, announced partnerships with global banks and top cryptocurrency exchanges. Ripple’s services will be used to help bring financial transactions onto the ledger of blockchain. The partnership includes MasterCard, JPMorgan OKX and OndoFinance. Grayscale Research, a market analysis company, discussed Ripple’s institutional strategy as well as real-world implementation. This could lead to XRP strengthening in the charts.
Charlie Perkins, the associate at Grayscale Investments The conversation with Ripple’s SVP of Stablecoins, Jack McDonald The company is also talking about its prospects of bringing XRP Ledger technology to multi-national corporations. “Everything we do around Ripple is built around serving institutions and building institutional-grade infrastructure to help more value,” said McDonald. He said that Ripple is now everywhere they wanted it to be. It has therefore become a significant company on the financial landscape.
“Yesterday, we talked about a partnership with MasterCard, JP Morgan, and OndoFinance, where trades are settling on the XRP Ledger. Last week we had a big announcement on OKX, specifically for our stablecoin RLUSD for both spot and derivatives trading. From a stablecoin perspective, we have very strong momentum, not only in market cap growth, but more importantly, the long-term utility that we’re seeing. A lot of focus on getting availability around all the major exchanges,” He said.
You may also like: 3 Reasons Why XRP May Break Out Soon
How will these partnerships affect the price of XRP?
These major partnerships must technically push XRP to the top of charts. Ripple’s native token and the trading of Ripple are not linked. Ripple profits directly from the partnerships it has had with global financial giants. XRP doesn’t benefit as the market is based on technicalities. Markets are dictated by the global economy, which is why altcoins remain in a range of indices. Since last month, its price has hovered between $1.05 to $1.10.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
