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Ripple, the fast-growing global cryptocurrency payments powerhouse, works with banking regulators and policy makers from several governments to adopt digital payments.
CryptoWhale, a crypto analytics firm, recently spoke in a series of tweets about the odds of giving XRP a head start, as it works with government regulators on compliance.
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The tweet law, “Many criticize XRP for being ‘too centralized’, although this transparency is what the government likes,”
“While other projects focus on getting a quick group of new investors to get out of the scam, Ripple has been quietly working with government agencies to ensure compliance.”
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Many criticize XRP for being “too centralized”, although this transparency is what governments like.
While other projects are focused on getting a quick batch of new investors to get out of the scam, Ripple has been quietly working with government agencies to ensure compliance.
– CryptoWhale (@CryptoWhale) 8 September 2020
At the time of this report, XRP was trading at $ 0.241, with a daily trading volume of $ 1.55 billion. The price of XRP has dropped -2.7% in the past 24 hours. It has a circulating supply of 45 billion coins and a maximum supply of 100 billion coins.
Global banks that have a relationship with Ripple
Japanese financial group Mitsubishi UFJ, with assets of over $ 2.8 trillion, announced in November 2018 that, in partnership with Ripple, it would provide an international money transfer service on the payment corridor from Japan to Brazil.
Banks using Ripple include European banking giant, HSBC Holdings Plc, with assets of around $ 2.5 trillion, which in 2019 revealed it would be using the XRP payment solution.
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Japan Post Bank with assets of $ 1.9 trillion, Sumitomo Mitsui Financial Group and Mizuho Financial Group with assets of trillions of dollars, also have close relationships with Ripple Asia. Others who have a relationship with Ripple include Banco Santander, Barclays PLC, Royal Bank of Canada, and Toronto-Dominion Bank.
What you should know: Ripple (XRP) plays the dual role of a payment and currency platform. It is an open source platform built to enable quick and cheap transactions.
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Additionally, CryptoWhale isn’t just about small talk, as it claims it is looking to buy more XRP once the fix is done.
“I’ve been involved with XRP since 2013 and there’s a reason it’s always held its place in the top 3 or 5.”
As for those who have canceled XRP, CryptoWhale offers the big picture. People often hate XRP because it hasn’t “increased in 2.5 years”. However, he says:
- This time frame is so small in the investment world. Be patient.
- XRP has increased more than 10,000% since 2014.
- It has consistently held its top 5 position for several years.
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The Crypto investor, however, understands why XRP it has so many haters.
People often hate $ XRP because it hasn’t “increased in 2.5 years”
1. This time frame is so small in the investment world. Be patient.
2. XRP has increased by over 10,000% since 2014.
3. It has consistently held its position in the top 5 coins for several years.
– CryptoWhale (@CryptoWhale) 11 September 2020
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