Could Ripple Grow in 2020 With Bank Adoption?
Ripple has been deepening its ties to the world of banking & institutional financed during the past year. They have purchased a large amount of equity with the world's second largest money transfer business MoneyGram. Additionally Ripple have received $200 million USD investment from venture capital firms with a specialty in banking and finance.
It seems that Ripple are trying hard to get adopted by financial institutes as a method to grant their cryptocurrency XRP value. Despite the fact that 2019 has been a rough year for XRP, 2020 might hold more promise as more partnerships rolled out.
Recently the CEO of CipherTrace, David Jevans was seen talking about Ripple adoption in Japan. He claimed that nearly every bank in Japan is adopting XRP.
While this is a bold claim, Jevan's position as CEO of CipherTrace gives it some weight. CipherTrace is a leading cryptocurrency intelligence service. Any false claims would damage their reputation, meaning XRP is likely getting adopted by Japanese banks.
It seems that 2020 might be Ripple & XRP's time to prove their value. These massive partnerships should begin to show in XRP's monetary valuation. While partnerships make headlines, seeing these financial organizations buy and use XRP will be more valuable.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado