There’s no need to dig into XRP as its success is inevitable thanks to Ripple Inc., the $ 10 billion company. This is the view of an XRP supporter whose Twitter post has generated positive comments from the wider community.
EVERYONE WHO LIVES ON EARTH:
Since people are STILL questioning this, let me be clear one more time: I stopped making videos and tweeting about #XRP because I believe its success is NON-BINDING because of @Ripple! For me there is no point in holding on to it. Done deal.
– DM Logic (@ImTheDebate) January 13, 2020
The influence of RRP Inc. on XRP cannot be overstated. Although the company’s executives oppose the correlation, the company continues to build products, chalk businesses, and fund projects that incorporate XRP and on-demand liquidity (ODL) into their operations.
Ripple Inc. is also very open and direct on their goal. In the past few months, several XRPs have been released from their escrow to decentralize and distribute XRP ownership across various public XRP addresses.
In addition, Brad Garlinghouse, the CEO, said in an interview that dumping or low prices were not in their best interests and would never do so to address claims of dumping on investors.
XRP is not a security
On the ongoing court matter, the CEO also reiterated that XRP and Ripple are independent entities. Owners are therefore not dependent on Ripple Inc:
“I think it’s very clear that XRP is not a security. It exists independently of the Ripple company. If Ripple shut down the company tomorrow, the XRP ecosystem would continue to exist. It is an independent open source technology. “
“I think it’s very clear that XRP isn’t a security …” Brad Garlinghouse pic.twitter.com/nlpbIzjxiN
– Digital Assets Daily (@AssetsDaily) January 12, 2020
MoneyGram expands to India
Meanwhile, EbixCash has partnered with MoneyGram, the ODL user, to allow MoneyGram to expand its operations to vast and crypto-resistant India.
MoneyGram will now operate remittance services in over 75,000 villages under the deal. The MoneyGram Chief Revenue Officer (CRO), Grant Lines, said:
“India remains the world’s largest recipient of remittances. We are pleased to be able to better serve this critical market through our partnership with EbixCash, a leading brand with approximately 80% of its locations in the country.”
XRP market performance
Ripple XRP market performance
The XRP gains over the past week have tapered off. For example, XRP market performance has been poor despite optimism and up a meager 2% on the last trading day. Meanwhile, Bitcoin (BTC) is up 5% and remains stable above the psychological $ 8,000, further compounding investor bullish cases.
XRP performance also cannot be compared to Bitcoin SV (BSV) and DASH. Both coins posted impressive double-digit gains in the top 20. The only positive development that can be drawn from the XRP chart is the gain over BTC.
At the time of going to press, XRP is balanced with BTC and is only down 2%.
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