The coming altcoin news show that Ripple finally decided to improve the ecosystem and create use cases around XRP. The announcement shows that Ripple invests $500 million in XRP and commits to a lot of developments scheduled for the upcoming months.
The latest news feature Ethan Beard who is an executive at Xpring – the initiative created to improve the XRP ecosystem and create use cases around it. As Beard stated, Xpring will invest in various open source protocols, as well as developer projects and large scale partnerships related to XRP, all in order to “create more real use cases for XRP.”
Over the past couple of months, analysts featured on many best cryptocurrency news sites said that a breakthrough is needed for XRP. Now that Ripple invests $500 million in the XRP ecosystem, it seems like the company is listening to these demands.
Despite the positive developments and deals which were introduced to the Asian crypto market, the price of XRP which is the native cryptocurrency asset on Ripple’s blockchain has been quite stagnant compared to other crypto assets such as Bitcoin (BTC).
The CEO of Ripple, Brad Garlinghouse, still hasn’t commented on the news that Ripple invests in Xpring. However, he spoke to publications at Fortune’s Brainstorm Finance conference in New York, where he said that the launch of Libra catalyzed contract activity for Ripple, creating a record week in regards to contract signings.
At the time, Garlinghouse said:
“This is going to be a record week for Ripple. It has absolutely catalyzed contract activity. This has been a call to action. I will send a case of champagne to David Marcus, the guy who runs Libra.”
The latest cryptocurrency news show that Ripple invests in its ecosystem. The announcement of Xpring to invest $500 million in XRP based projects comes after Garlinghouse’s statement (on June 20).
“Xpring has quickly grown and to date we have committed $500M in support of over 20 companies, ranging from independent developer projects to larger scale partnerships. Our efforts have expanded to focus has been on two areas: build the best crypto infrastructure through contributions to open source crypto protocols such as the XRP Ledger and Interledger projects; and help innovative blockchain projects grow through partnership and investment,” Beard and the Xpring team said.
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