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It is said that Ripple is collaborating with Bank of America, and their XRP token could become the base currency of a number of important exchanges. In the chaos of crypto, Ripple positions himself to earn while other coins take hits.
While the whole market is in a downturn after the incidents this week, Ripple and their XRP cryptocurrency are doing better, having suffered the least damage between the major currencies and exceeding ETH by market capitalization , becoming the second cryptocurrency. From a meeting between Bank of America and Ripple executives last week, rumors are circulating about the cryptographic sphere in which there is a partnership between Ripple and the banking giant, who is already a client of the company that is rapidly gaining a roster of the players sector attracted by their xRapid platform or promises to promote capital liquidity.
The CEO of Binance, CZ, has openly (though perhaps jokingly) invited XRP fans to try to convince him that XRP should be a base currency for trading on Binance, in addition or perhaps to the exclusion of Bitcoin.
The basic shr xrp is strong. Take it from your system and put all your shillings under this tweet, and see how much we get. https://t.co/usiISCtuSj
– CZ Binance (@cz_binance) November 18, 2018
In fact, the immediate reaction between the commentators and the crypto blogs was to take this request seriously and to indicate the various reasons why XRP would really be a good base currency for the exchange. Ran NeuNer, during the incident, also noted that Bitcoin traders should trade BTC for XRP. Ran, among other scrambled figures, had previously been quite contemptuous for both XRP and Ripple, so the fact that Ripple is becoming a real media treasure is particularly significant.
These hash wars highlight why everyone should download BTC and BCH and just put all their money in XRP!
– Ran NeuNer (@cryptomanran) November 17, 2018
The fact is that Ripple has never made the promises made by Bitcoin, and does not have the pretext of revolutionizing the economic order for many. Instead, Ripple is directly marketing directly to those who already control the economic order. For this reason, many in the cryptographic ecosystem assumed that XRP did not have the value that Bitcoin would have, which should have disturbed large banks and corporations. Nonetheless, XRP is taken seriously by these exact institutions that will benefit from the rapid and economic cross-border payments of xRapid and XRP. Not only do these institutions have a lot of money, but as Ripple allies with Washington, investors can be more confident that the SEC, which has become more aggressive recently, is less likely to turn its gaze to XRP, despite claims to its detractors they do on its security status.
Read more: When the dust settles from the BH hash war, will Ripple emerge victorious?
It is not clear if the crypto-luminaries are changing tone on XRP because they are no longer interested in the revolutionary claims that cryptography has always done, or if they have just come to the conclusion that Ripple's path to profitability is more likely, but Ripple is winning the series is probably not over, and its detractors will certainly only be more frustrated by the acquisition of cryptographic space while paving the way for institutional adoption against competing cryptocurrencies struggling to become or develop usable and profitable products in an essentially singularly speculative market.
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