Ever since the governments intruded into cryptocurrencies, they have railed against the interference and regulations. If this is the trend that majority coins are following, here is a coin that wants the government to step in – Ripple [XRP]. The world’s third-largest currency has urged the UK regulators to create a new regulatory framework in order to ensure better and safe transactions along with other advantages.
The coin sure had a disastrous start at the beginning of the year, but it picked up the pace so silently that it left the others in dismay. XRP has gained its trading volume by 37% in the past week along with its live trading value gaining momentum simultaneously. XRP is currently trading at $0.67 and has been hanging around the same in the last two days favoring the market.
Ripple has had a very productive month and here are a few of the important events associated with Ripple and XRP, which are both different.
- Borse Stuttgart, Germany’s second-largest stock exchange was set to launch a crypto app – Bison which listed Ripple among the very few other top coins
- xCurrent, xVia, xRapid set to make banking cheaper and efficient with Ripple [XRP] technologies
- They contributed $25 million to support blockchain start-ups
- Santander launched the first ever Money transfer app featuring Ripple
- Amendment announcement
- CoinGate and PrestaShop collaboration that announced payment in Ripple along with few other coins
- Listed on a UAE trading platform – ADS securities
- New gateway – eMetals to accept XRP payments
- Huobi launch in South Africa with Ripple’s listing
- London Block Exchange [LBX] added Ripple
- Central Bank of Netherland’s recognition
- Uphold listed XRP token
- Appeal to UK’s regulator for a new framework
Ripple’s market cap is worth over $26 billion and most of the top exchanges like Bithumb, Bitbank, Upbit, Binance, etc, are trading XRP with some huge volumes. Their Interledger protocol and the vision to make the Internet of Value a reality is what sets them apart and places them in the top.
Brian, an XRP holder says:
“Ripple project is one of the best things that ever happened to the digital world. Thanks, Brad and team for introducing this to the market and inculcating faith in us and you actually inspired me to be an investor cause before that I thought digital money is a piece of crap. XRP holder and believer forever, I will support ur technology even if the prices drop because you guys are so genuine and transparent.”
Anand Sen, a Ripple enthusiast says:
“I had no idea about all the digitalization running around. It doesn’t reach to a lot of countries away from the European and Chinese areas at least a few years ago it didn’t. I entered the crypto world with a belief in you and your technology. One of a kind!”
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Ripple’s initiative invests in Bolt Labs to improve secondary payment channels and expand interoperability
Ripple’s arm, Xpring which invests and incubates in companies and individuals which help improve the XRP ecosystem, invested in Bolt Labs. With the new investment, Xpring hopes to develop solutions that will help improve the security of secondary payment channels and increase the interoperability by integrating with the ILP.
Bolt is a private, off-chain scaling solution which was built on top of Z-cash, a privacy-focused cryptocurrency, has attracted more than a few well-known investors in the crypto-space and Ripple’s Xpring is one among them. In a blog, Bolt Labs said that their solution will focus not only on ZCash but also other publicly available cryptocurrencies that do not have inherent on-chain privacy features.
It also stated:
“The potential for these implementations to be networked together with technologies like Interledger opens the potential further for cross-chain interactions with these privacy guarantees baked in.”
The above statement suggests that they might have a “potential” implementation for these on Interledger Protocol [ILP]. ILP was created at Ripple developed by the Interledger W3C Community Group. ILP aims at connecting two different blockchains, to integrate two different ledgers and have seamless operations between them.
This would vastly benefit the payments industry, which is facing a revolution at the hands of a nascent technology like blockchain. Ripple, a payments provider, which is leveraging cryptocurrency and blockchain to facilitate faster payments, would benefit largely from this partnership. In addition, this could also signify a potential development on the XRP Ledger and its on-chain/off-chain privacy and the currency, XRP.
A Twitter user @XRPCentre tweeted:
“If the solutions being developed by the company are able to improve the privacy of the ILP transactions, they would also be enhancing the privacy of XRP/ILP payments, which is a very demanded feature…. It’s all about interoperability and destroying network effects. If ILP succeeds in being the best protocol for cross-protocol/ledger transactions, you’d naturally search for the best asset therein.”
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