XRP has now firmly established itself as the world’s third-biggest cryptocurrency, and Ripple, the company that holds the highest number of those tokens, has grown at a steady pace as well. The company has managed slowly but surely to build up its payments network, and that is definitely good news for XRP investors.
In a new development, the San Francisco-based fintech company revealed that it is going to expand its payment network considerably in 2020. More importantly, the company revealed that it is going to help businesses and individuals with making cross border payments through XRP.
Major Triggers
The company has signed plenty of deals over the past few years, and its deal with money transfer giant Moneygram last year was particularly significant. It has been revealed that Ripple has managed to sign up as many as 150 participating validators for its XRP ledger.
The existence of the validators is necessary to keep the ledger completely neutral, fair, and secure. However, the company has made another important announcement that should come as a major boost for XRP holders. Last year, the number of XRP tokens being sold was a major issue within the XRP community, and Ripple’s actions were blamed for the depressed price of the token. Ripple has now revealed that it has decided to cut down the number of XRP tokens that it sells on the open market.
In addition to that, the company is looking to launch a range of XRP derivative products. Experts believe that the derivative market is going to eventually grow faster than the traditional spot market in the crypto space, and Ripple is trying to position XRP in that particular space this year.
>> Ripple XRP Sales Fall 80% to Historic Low in Q4 2019
The company is also working on its own products to be used extensively by institutions all over the world. It seems that 2020 could well be a major year for XRP, and it is being driven by Ripple’s initiatives.
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