Make No Mistake, This Is Not Ripple’s (XRP) Fault
Ripple (XRP) has had a great week, even as the market continued its bearish trend into the weekend. As the crypto looks to end the bleak week on a strong run, the events of the last few days suggest the company behind the XRP token is doing well. Over the last four or five days, Ripple has had a lot of good vibes about it.
While that hasn’t helped stem the drop in value and sentiment remains apprehensive, it is a week that could see its future value surge. In case you missed any, here is a recap of what I believe constitutes winning goals for XRP.
The $29 million XRP donation
Top of the list of positive Ripple events was the $29 million worth of XRP donated to fund various needs in over 30,000 schools across the US. Although cryptocurrency startups and individuals alike have made contributions towards charity before, this donation by Ripple is this far the biggest to be given to one charitable organization.
This comes barely a week after another crypto startup OmiseGO teamed with Vitalik Buterin to donate $1 million to another charity, Give Directly. The donations are going to go a long way into cementing a good public image of cryptocurrency. The clear winner here is the society, but so are crypto startups that are keen to reach out to the world.
Ripple’s donation, which was given through the site DonorsChoose.org, is expected to help buy learning materials and other classroom needs in schools all over the 50 states in the U.S.
In a tweet on its official page, the San Francisco-based start said they were happy to have given to teachers. Ripple asked others to join in and help build on the momentum by giving to such projects as DonorsChoose.
In comments published on CNBC, DonorsChoose CEO Charles Best revealed that he had approached the Ripple team for the donation a while ago. Suggesting that he didn’t expect it to happen so fast, the elated philanthropist said that he was shocked when the reply affirmed his request. He said that the amount involved was “mind-boggling”, by far the largest amount donated in cryptocurrency.
The entire donation will be cashed out in US dollars over two weeks as the charity seeks to avoid the volatile nature of cryptocurrency. It also falls in line with their policy of selling related donations as soon as possible. If you ask me, the Ripple effect will be hard to stop going forward. For Ripple (XRP), getting to the top of the market appears to something achievable.
London Block Exchange Listing
Ripple has struggled, in vain so far, to get their XRP token on one of the biggest exchanges in the US. However, failing to make it to Coinbase doesn’t seem to affect its standing around the world. That assertion was evident again this week when XRP was added to UK’s LBX.
LBX is registered in the UK and operates under the regulatory watch of the Financial Conduct Authority (FCA). As such, its reputation as a provider of on-shore banking will only add value to its listing of XRP/GBP.
While explaining their decision to add Ripple’s XRP to their platform, LBX’s CEO Benjamin Dives said that:
“As we open our doors to U.K. crypto enthusiasts, we’re listening and acting on what the community wants, and that’s an array of good quality coin options to trade, all backed by a reliable, comprehensive, and user-friendly service that they can trust.”
What does that tell us about Ripple? XRP is a quality token coin backed by a product that is reliable and that the society is beginning to believe in Ripple’s potential.
The London Block Exchange is a well known over-the-counter platform, and its listing of XRP leaves the crypto well positioned for further penetration in the UK.
Uphold Listing helps grow the XRP ecosystem
The inevitable growth of the Ripple ecosystem continues with yet another listing on Uphold. According to Ripple.com Uphold will offer the public a chance to exchange their XRP coin with about 34 other currencies. It will also include several digital assets as well as commodities. The latest among several listings is helping to expand the reach of XRP and how its availability impacts on the liquidity needed for payments and cross-border remittances.
This listing confirms XRP’s continued growth and the increased interest in the coin and Ripple’s platform.
Ripple (XRP) has had a great week and its rise among the cryptocurrencies cannot be underestimated anymore. It’s one platform with the highest possibility of delivering its products to the people. In the end, I believe XRP investors will reap big returns.