Ripple (XRP) has been one of the most active coins on the market after the sharp fall in price seen in February and March this year. Its largest holder Ripple Inc. has partnered with over 100 banks to provide the xCurrent and xVia platforms to ease bank to bank transactions. In this article we focus on the three best partnerships Ripple Inc. has completed in 2018 that will see XRP regain its $3 price before the end of the year.
Ripple Inc. and XRP have for the last few years been termed as one and the same thing with the labels used interchangeably. However, this is not the case as explained in a previous article, “Relationship between XRP and Ripple”. Ripple represents an independent company that is heavily invested in XRP, which is the cryptocurrency.
Ripple Inc. focuses on the development and adoption of their xCurrent, xVia and xRapid technologies with a future goal of integrating XRP in these systems. This is one of the main reasons why partnerships made by Ripple Inc. has influence on XRP’s price. These partnerships made by Ripple so far in 2018 will see XRP surpass the $5 mark by the end of 2018.
- SBI Virtual Currency platform lists XRP as the only cryptocurrency
One of the largest partnerships Ripple faithful’s were anticipating has finally launched. The SBI Holdings Group has launched its SBI Virtual Currencies Platform that currently has XRP as the first and only cryptocurrency on the platform. One of Asia’s premier banking institutions, SBI Group’s trust in XRP has been brewing since September when it was made official the Virtual Currency exchange will be launched and XRP as the only crypto to be listed. The CEO and President of SBI Holdings, Yoshitaka Kitao has recently stated his vision to see the Virtual Currency Platform being the largest exchange soon.
The partnership will see a massive adoption to XRP as every new exchange offers a new unexplored market for cryptos. Being the first and only crypto listed on a platform started by a $2.9 billion USD company will have a big impact in boosting the overall adoption of XRP. The SBI Group has its largest market in Asia, especially Japan where more than 30% of the population own or trade in crypto. This new market of investors in SBI Virtual Currencies platform will be key in seeing XRP hit $5 in 2018.
- Ripple Inc. association with the world’s largest financial institutions.
Earlier in the year JP Morgan announced they would be launching a similar technology to Ripple’s xCurrent system to manage costs. The company is yet to release any follow up statements but it showed the overall influence Ripple is having on banks.
Recent reports show that various money remittances banking systems such as Western Union, Bank of America and Santander Bank are all testing the Ripple network. This boils up as potential partnerships if the test proves successful. The presence of some of the largest financial institutions in the world being associated with Ripple in one way or another since the start of the year will surely produce a major partnership in time.
It is always too early to predict a market as volatile as cryptocurrencies but with the increased partnerships Ripple Inc. is making, XRP is set to break its ATH before the end of the year. The coin is set to break $5 if the BoA, Santander, JP Morgan and other large banks implement the Ripple technologies.
Ripple’s $5 valuation is in no way an exaggeration looking at the partnerships, adoption and general use of the currency in the coming months. Time to buy!