Note: This is a crossposted piece of content for blurt.world that I created on 10/05/20. I own and have created this content, see details below.
Ripple's XRP is a cryptocurrency favorite with a long history of business partnerships and developments. Ripple has been working hard to build their brand and support XRP as a world-class cryptocurrency. Moving into 2021, expect big things from this cryptocurrency in the market and its technology.
XRP is holding its position as the fourth largest cryptocurrency by marketcap. It was unseated as the third largest by Tether, and is still extremely popular with lots of liquidity in the market. Ripple recently broke $0.25 amid the cryptocurrency selloff, and is looking good technically. Beyond the short-term price movement, XRP has alot of great developments just over the horizon.
Ripple is a remittance company and XRP is its blockchain technology. Business partnerships are key to building this business, and a huge development is its work with HDFC, India's largest lending bank. RippleNet is working with this bank and many others including Santander to develop and implement remittance technology to rival the current remittance provider, the SWIFT system. Expect to see many high-profile partnerships like this in 2021. The XRP cryptocurrency can only benefit from more exposure and usage. But what about smart contracts and DeFi? Enter the Flare Network.
A huge development for XRP is Flare Spark tokens. Flare Network is going to airdrop SPARK tokens to registered XRP addresses, and the snapshot date has been announced as December 12th, 2020. The Spark tokens are going to function as utility tokens that will function on the Flare Network that will enable smart contracts on the XRP blockchain, which is huge. The SPARK tokens may also be used on the network in ways reminiscent of DeFi. This is a huge development with alot of potential to increase XRP's price and utilization. DeFi and smart contracts are a part of the future of money, banking, investment and remittance, and this is a game changer for XRP.
Ripple is organizing itself, and creating business arms to tackle challenges. RippleX is actively working with software developers to create inroads to use XRP in their businesses. Ripple is actively seeking partnerships, and works in the remittance industry to provide value. There is an actual use case that is being fleshed out at Ripple Labs. Ripple is working with American Express, Moneygram, Santander and more to build real value. This is a real opportunity in the cryptocurrency space with a huge future.
Originally published in my blurt account at the link below:
https://blurt.blog/blurtech/@dominion01/xrp-a-beloved-cryptocurrency-has-major-development-on-the-horizon
Also published in my Steemit account at myblurtrides1 and my Publish0x account at Bitcoin Crazy.
Sources:
Picture from Pixabay.
1.https://coinmarketcap.com/currencies/xrp/
5.https://www.google.com/amp/s/itsblockchain.com/ripple-partners/amp/