Keeping in line with its actions in the past, Ripple, the corporation, has stayed busy through 2019 so far. Over the course of the past two and a half months, a few of the most notable events for Ripple have been its continuation of partnerships across the globe.
This brief guide will walk you through a couple of the most recent events associated with the company as well as its overall strategy. It will then dive into the potential price ramifications of these and expected future Ripple and XRP events.
Ripple and the Infinite Partnership Strategy
This year, the company has signed on banking partners such as Euro Exim Bank, JNFX, SendFriend, Transpaygo, and FTCS throughout the year for liquidity sourcing.
Euro Exim Bank, a credit focused organization, is expected to utilize XRP in money transfers. The company is also expected to deliver an exchange service that should utilize and hold XRP as well, according to Fortune.
Ripple continues to bet on its core competency of transforming global payments. As such, the team at Ripple continues to look at different ways to utilize its cryptocurrency and make a difference in financial services. While large partnerships with Western Union haven’t panned out, other smaller players are still in the early phases.
The company continues to focus on laying down a foundation of building out its products and bringing about more liquidity for the financial system as well as for XRP.
Ripple and Its Investment Initiative
In order to dive deeper into bringing about more liquidity for financial products, Ripple is making strategic investments with Xpring, its initiative that was established in mid 2018 to incubate, acquire and provide grants to companies and projects run by proven entrepreneurs.
To be in line with this new initiative, the Ripple team has backed Dharma, the borderless lending blockchain based protocol. Xpring has also invested in Kava, XRPL Labs, and Securitize, indicating that from lending to tokenization, Ripple wants to be involved in all aspects of the decentralized future.
The aim of the Xpring initiative is to back entrepreneurs who will be incentivized to utilize XRP in some form or fashion in their open-sourced, decentralized platforms.
Price Action
The price action of XRP seems to be ranging from $0.29 to $0.32 and seems likely to stay within this range unless a large event were to occur. This indicates that market sentiment is still neutral. Even long anticipated events have had minimal impact on the value of XRP.
The expected XRP listing on Coinbase came and went to a lack of strong enthusiasm from the market. The price barely reflected the long waited listing.
XRP holders and potential investors are waiting to see if XRP will be held and utilized by large financial institutions. The potential competition faced by the JPM coin and SWIFT are pressing issues that must factored into an XRP investment as well.
The addition of more partnerships may have been a price mover in the past, but it seems as if this is not as a strong mover in the current setting.
With that being said, one interesting product that may provide a potential price push may be the launch of the Ripple ETP on SIX sometime this year. But even that seems like a reach in the current financial climate which seems to be unfavorable to XRP. Much of it has to do with its corporate motives in a retail environment, and Ripple itself owning 60 percent of total XRP.
