Ripple Push for Adoption: Is XRP Adoption Coming?
There is a lot of anticipation around Ripple’s XRP after the network securing $200million to drive the platforms adoption to the next level. This funding, which was announced on Thursday come at a time when the outfit is trying to redefine their cross border money transfers.
However, Ripple goa is to bring as many third party payment outfits, financial institutions and banks onboard a possible. With the funding already secured, the sky is the limit. Behind the funding is Tetragon, a global investment company which shares the XRP adoption dream with Ripple.
Ripple’s XRP Struggle in the Crypto Verse 
XRP has on several occasions challenged Ethereum (ETH) in the marketplace in terms of market capitalization. Since its price surge in 2017 during the crypto boom, the coin has continued to shed its value. However, the native coin plays a pivotal role in the Ripples core business.
The company has been marketing XRP under the banner “bridge currency” for cross border money transfers. In a recent interview with Ripple’s Chief Executive officer (CEO), Brand Garlinghouse;
“XRP helps customers free up capital that they would otherwise have to park as reserves in the local banks”.
Ripple Adoption Drive and XRP Usability
The adoption drive has seen Ripple buy a stake in MoneyGram, which according to Garlinghouse, is using 15 percent of its transfers into the Mexican market. The same is being experienced in the transfer of Philippines’ pesos and Australian dollar and the same is being extended into the Brazilian market.
Although Garlinghouse did not discuss the company’s profitability but all indications are clear that the XRP adoption drive is to stamp their authority in the crypto space. The anticipated investment is a clear step towards increased XRP usage which will spur the digital assets’ value.
Ripple’s XRP Next Gen Remittance Platform
Crypto analysts have voiced their support for Ripple’s XRP as the next big thing in remittance sector. The network has been tested and has proved to deliver on its promises. This has prompted the company to pump in more cash to ensure more users and especially institutions come onboard.
The $200 million funding comes at a time when more people are aware of the capabilities of blockchain and Ripple’s XRP is set to reap big in the market. The cash boost will see the network attain a healthy balance sheet and gives the ecosystem more flexibility.
Ripple’s XRP Price Update
The Bitcoin (BTC) price drop has seen the ripple effect cascade down to the altcoin market. This has seen the third ranked XRP gain 0.93 percent in the last 24 hours against the green buck but shedding 3.70 percent against Bitcoin. XRP price fluctuation is not an isolated case; it is a reflection of the entire digital money market.
The last 24 hour trading sessions has seen XRP exchange at $ 0.195793 to the Dollar and 0.00002592 to Bitcoin. This is a huge drop given that the coin had moves passed the $0.2 mark at the beginning of December.
