AMEX Teams up With Ripple - Crypto Adoption Rolls on

If you're hodling XRP, you may want to also hold onto your hat, and seat - AMEX is onboarding to RippleNet, Ripple's alleged solitary solution for global payments through enterprise blockchain technology.

American Express is hoping to speed up international payments between the U.K. and US, and they're looking first to something called xCurrent. xCurrent is a rebrand of the existing enterprise software that Ripple deploys for banks.

Some of the features of xCurrent include two-way messaging and complete end-to-end tracking of payments and will hopefully reduce the current costs associated with these activities.

While some of xCurrents features may turn the stomach of some in various cryptocurrency communities, end-to-end tracking is extremely useful to the existing financial institutions of today, often labeled as "Old Guard," as they often need to comply with labyrinthine international policies and regulations regarding payments and settlements.

It does not appear that the token XRP will be used by AMEX at this time though they didn't seem to rule out use of the cryptocurrency for liquidity purposes further down the line, if and when they begin to use xRapid, another product that has yet to be added to the Ripple Network. xRapid aims to provide on-demand liquidity to payment providers, something that emerging markets could benefit from greatly.

So even though XRP the token will not be used at this time it seems that this is still fundamentally good news for the token, and those who hodl it. Why?

• The parent company to XRP, Ripple, is still planning to escrow 55 Billion tokens by the end of 2017. The move was conceived to allay market concerns that had arisen about the company's holdings.
• Ripple has also been very transparent about their monthly drawdown schedule that would see 1 Billion XRP taken out of escrow for developmental use. The caveat was that any XRP from that drawdown not used would be returned to escrow or destroyed.
• The Ripple team successfully gathered an impressive host of Central Bank leaders and senior staff to have a "focused discussion on blockchain". It would appear that this summit has been a success for the team and that more partnerships are likely coming down the pike.

As of this posting, Ripple is at 0.00003148 - or 0.23 cents against the FRN.

Full disclosure, I hold XRP tokens - usually in both fists whilst foaming from the mouth.

Don't forget to Christian DYOR (Do Your Own Research) before taking any position in crypto or any other market, I'm no financial advisor.

So is XRP in for a spike? There are those that have been predicting a $2.00 XRP in 2018...

And if you're Ahmadderar of Ripplecoinnews.com, you're predicting $2-4 or beyond

Crypto is definitely one thing: Never boring.

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@prufarchy