Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject
Mirror, mirror, on the wall. Are XRP investors the saddest of them all?
Well, market performance might suggest so. Pending lawsuits too. However, there are still some silver linings.
Ripple, the leader in enterprise blockchain solutions, is a little different from its peers. Rather than focusing on retail customers, Ripple targets institutions. The cryptocurrency XRP has always been closely linked to Ripple. And, although these are distinct entities, Ripple holds billions of XRP in an escrow account.
That being said, the crypto still has a market cap of $18.1 billion. With more than $940 million traded in the past 24 hours, it’s obvious that traders and investors are very much interested in XRP.
Ripple’s tie-up with Tokyo-Mitsubishi Bank in 2017 was a major milestone. Following the same, it became the second largest crypto by market capitalization for a brief period. A year later, Ripple was in the news again for its partnership with international banking conglomerate Santander Group for an app focusing on cross-border transactions.
In terms of rivals, Ripple has close to none at the moment. They are the leading crypto firm catering to financial institutions around the world. As the number of partnerships grow, by extension, XRP will reap the benefits. After all, it is the medium of exchange for all cross-border transactions enabled by RippleNet.
Ripple has been capitalizing on the need for quick transactions and other untapped potential in emerging economies. With the rise of central bank digital currencies (CBDC), it is likely that developing countries looking
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