In the past few days, Ripple XRP has experienced a continuous bullish trend looking at the hourly charts. The overall value increase was witnessed while the market has been on a bullish momentum and during a period of rapid development in the marketing stance of its biggest holder, Ripple Inc. As Ripple Inc. continues to take up massive partnerships with the biggest companies in the financial industry, XRP will see its price simultaneous rise. As much as the two parties are in no way directly matched in growth and value, they share a long term partnership that will be beneficial to both.
This week, Ripple Inc. announced that the former president to the United States, Bill Clinton will be a keynote speaker at their annual event, “Swell with Ripple”. Ripple Inc. is well-known for its high profile connections within the business world and this latest network may well be the biggest yet. After their partnerships with JP Morgan, Santander Bank and Western Union to provide the xCurrent and xVia services, Ripple Inc. is set to dominate the blockchain industry heavily.
The huge 60% proportion of XRP that Ripple Inc. holds in the huge wallets is a big indication of the close relationship between the two. Currently, the dealings of XRP and Ripple Inc. can only be carried out through the xRapid feature and most of the financial instituions have been skeptical against the adopting the technology. However, for any chance of XRP ‘mooning’ in the next few years’ massive adoption of the xRapid feature will be critical.
These are some of the reasons why XRP must bank on Ripple Inc. success story to boost its price back above $5.
- Ripple huge network and connectivity
One of the most important steps Ripple Inc. is taking in regards to value and growth of the company is networking and marketing. Withover 100 banks across the world accepting to use the Ripple Technologies developed by the team, the blockchain company can boast as the most widely connected to institutional investors. The Securities Exchange Commission (SEC) is increasingly facing calls to announce that XRP is not a security. This will cause a friendlier environment to XRP which may interest these institutional investors into integrating the xRapid feature.
- Ripple Inc. owns the highest number of XRP
With over 60% of the total supply of XRP held by Ripple Labs, a crucial move by the corporation will see the value of XRP move in positive correlation. Brad Garlinghouse, the CEO of Ripple Inc. and Ripple Lab technologies has for the last few years seen the overall success of XRP to be heavily influenced by Ripple. The benefits are however not mutual as Ripple on its part does not require XRP to grow and gain adoption across its customer territory as seen with partnerships already penned.
Ripple (XRP) is currently trading at $0.45 after a sharp 10% increase in the past 48 hours. This shows a continued push towards hitting the $1 mark before the end of 2018.