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Ripple is one of the fastest growing blockchain networks, and the good times are here to stay. The sustainable success of any blockchain platform depends on the level of adoption it has managed to achieve, and Ripple definitely excels in this regard.
Since the beginning of 2019, the platform has been cracking partnerships and collaboration deals with several major corporations across the globe. Ripple has particularly been adopted in monetary transfers and other general banking functions. For instance, it has partnered with Indian IT Giant TCS for its global payments platforms, which have over a billion users worldwide.
While speaking to journalists last year in June, Ripple CEO Brad Garlinghouse claimed that XRapid would be a vastly adopted liquidity tool by major banks globally. He said,
I’ve publicly stated that by the end of this year I have every confidence that major banks will use XRapid as a liquidity tool. You know, by the end of next year, I would certainly hope that we would see you know in the order of… dozens.
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What this essentially means for XRP is that it will achieve its goal of mass adoption, by expanding its user base among traditional investors too. Also, Ripple has been working to develop its platform infrastructure, which enables newer use cases for XRP, XRapid, and XCurrent.
For instance, just a couple of days ago, Ryan Zagone, Regulatory Relations Director at Ripple, claimed that Ripple Network would help make the United States independent on the technological front.
While speaking at the Consensus 2019 in New York earlier in the week, Zagone said,
There is a broad discussion in Washington around 5G being dominated by foreign firms and the U.S. being reliant on foreign technology and foreign expertise… With blockchain and crypto, I think there’s recognition now that these will be part of our future infrastructure … It’s important both for national security and from an economic perspective that the U.S. is a leader in that.
In the meantime, Ripple has made XRP available on various important crypto exchanges, wallets, and payments platforms, including Coinbase, Binance, Huobi, Xendpay, Ria, MoneyMatch, CIMB Bank, InstaRem, etc. Such wide and varied backing gives XRP much-needed stability, further boosting the platform.
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All of these factors put together strongly indicate a bullish trend for Ripple.
