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Ripple [XRP] shows bullish trend reflecting widespread adoption

Anirudh VK

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Ripple [XRP] shows bullish trend reflecting widespread adoption
Source: Wikimedia Commons

After a rollercoaster Q1 2018, Ripple has shown 30.09% growth in the last week alone, leading to speculations that it would make the $1 leap this week. This bullish trend is a part of a general uptick in the altcoin markets. It can also be attributed to the widespread adoption of Ripple by leading financial institutions worldwide.

XRP graph for the week 17-23 April

Companies such as Santander UK, SBI Holdings, Moneygram, Mercure FX and IDT Corporation use Ripple’s technology. Ripple’s association with Chinese third-party payment service provider LianLian International has attracted much attention, as the company is China’s fourth largest non-banking operation of this kind. Santander UK has released a mobile app, OnePay FX, which functions on Ripple to ensure seamless and fast transactions across borders.

Ripple has invested $150 million in XRP in the company Blockchain Capital, which focuses on new startups in the blockchain space. Ripple has stated in a press release that:

“The $150 million fund managed by Blockchain Capital will invest in entrepreneurial teams that are building businesses using blockchain technology. The investment will also provide an opportunity to identify new use cases for the XRP Ledger and Interledger Protocol”.

This correlates with its partnership with Hyperledger, which was released in the form of Hyperledger Quilt with support for Ripple’s own Interledger Protocol [ILP]. ILP supports various cryptos such as Ethereum, Bitcoin, and Litecoin.

The ROI on XRP has also been emphasized in recent times, with Forbes magazine stating that:



“XRP has the potential to gift investors with a whopping 300% return.”

There have also been speculations that Ripple might make a significant announcement in the weeks to come. This comes after Ripple’s vision for the Internet of Value [IoV] was made clear.

Overall, XRP is following an uptick trend in value, from $0.65 on April 16th to $0.86 on April 23rd, with its highest value this week at $0.94 on April 21st. While XRP hovers at the $0.90 mark at the time of writing, analysts predict that it will make the leap to $1 sometime this week.





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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

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XRP

Ripple’s initiative invests in Bolt Labs to improve secondary payment channels and expand interoperability

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Source: Pixabay

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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