Company Ripple plans to significantly expand the scope of its network and the token. Recall now XRP is used as a quick cross-border payments for national and international banks. The project is actively developed in this area for the last five years and by the standards of kriptonyte has made significant progress: XRP for quite a long period of time takes the third place in the ranking of cryptocurrency by market capitalization. However, now the company wants to reach new heights.
It seems that within the company the coming global reform: its leaders understand that the ultimate goal of implementing the values of the project are still tied to XRP. According to the latest report of the portal of the Financial Times, head of Department of development of Ripple announced the transition of the project "from check coding". Probably, soon the Ripple will introduce a new product within its own ecosystem.
Today XRP is trading at 29 cents, which is 5 percent higher than a daily ago. Capitalization of cryptocurrencies exceeds 13.38 billion dollars, and its trade volume amounted to 2.14 billion. Overall schedule of course of bitcoin all time looks like.
Ripple is preparing the update
CEO Ripple brad Garlinghouse said in a veiled form that the company does have big plans. According to him, Ripple “should be the Amazon from the world of cryptocurrencies”. Here is his quote, which he partially shares his plans for the future.
Amazon started as a company selling books. We started with the sphere of payments. Two years later, you learn that the payments for the Ripple was the same as the book for Amazon.
That is, it suggests that the potential of XRP as the Ripple blockchain — can be much wider. It is unknown in what direction will move the developers, however comparing with the giant trade makes to think hard on this. Still today, Amazon sells everything and is known almost anywhere in the world.
The report also mentioned that the experts of the Ripple are developing tools to create applications based on the blockchain within the ecosystem Aldona. We will remind, in October of 2019, the company announced a development platform for developers of open source software.
By the way, one of the founders of the company actively sells its inventory of tokens XRP. We are talking about Jed Maccalube who received more than 9 billion coins after leaving the company. According to analysts, Whale Alert, now jed's XRP parted with the equivalent of at least 375 thousand dollars — and does it every day. Read more about the situation you can read in a separate article.
Changes and “shake-up” can go to the company and its aldonu good. This applies in particular to prices of XRP over the last couple of years compared to other digital assets coin demonstrated the highest profitability.
Its price reached a historic high in January 2018 at the level of 3.40 dollars. Since then, the XRP price has fallen by more than at 91.4 percent.
We will remind, this year the Ripple became embroiled in a fraud scandal on YouTube. The image of the company and its CEO are often used by malicious users to conduct broadcast advertising his fraudulent scheme. Garlinghouse didn’t like it and he submitted to YouTube in court.
We believe that this news is a good sign, both for holders of XRP and other cryptocurrency industry as a whole. The search for new applications of the blockchain and token will certainly cause a new wave of demand that may well affect the value of the coin. In General, a cryptocurrency is a major player in the market, so any action towards innovations in a position to influence competitors and move the industry forward.
So now it remains to wait for news from the management and developers of the company. I want to believe that the search for new cases using the network will take some time, and the result will be worth waiting for.
We would also hope that the news will have a positive impact on the rate of XRP. For other interesting details about Ripple look in our cryptcat. Also we are waiting for you in Yandex Zenout materials that are not on the website.
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