Ripple Teams Up with Japanese Giant: What This Means for XRP’s Future
The price of Ripple (XRP) has fallen by 1.5% today, dropping to $0.5672 as the wider crypto market loses by 4% in the past 24 hours.
XRP has declined by a smaller percentage than many other major tokens, with the news of Ripple’s partnership with SBI Holdings helping to shield the alt from more serious damage.
And while the coin is still down by 8% in a week, it remains up by 5% in a month, following Ripple’s lower-than-expected $125 million settlement with the SEC last week.
This settlement has freed Ripple to sign more partnerships with the likes of SBI Holdings, with the company – and its associated token – likely to enjoy faster growth in the coming months.
This week’s news extends Ripple’s pre-existing relationship with SBI, which has previously announced plans to issue NFTs on XRP Ledger, as well as plans to collaborate on remittances in the Philippines, Vietnam and Indonesia.
This time, SBI Holdings has committed to promoting the use of XRP Ledger in Japan’s growing Web3 space, with the firm again focusing primarily on the issuance and trade of NFTs on XRP ledger.
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