Ripple Partnered Up With Hundreds of Companies – Is a Price Surge In Sight?
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Ripple seems to be gaining traction worldwide, as more institutions and companies see the potential of its technology and adapt it.
At a recent event in Melbourne, Fiona Murray, serving as Ripple’s VP of Sales in the Asia-Pacific region, disclosed an intriguing insight into the company’s collaborations. Over 500 firms worldwide have embraced Ripple’s technology, utilizing XRP as a crucial bridge currency. This revelation surfaced during the Ripple Payment Roadshow, hosted by the Australian Trade & Logistics Corporation back in August.
The robust institutional adoption of Ripple’s solutions, encompassing a substantial network of 500 companies, hints at a potential uptick in adoption rates in the foreseeable future. As more entities integrate XRP into their operations, the trajectory suggests a probable surge in the token’s valuation.
Moreover, Ripple celebrated a partial triumph in its legal confrontation with the SEC. A US court verdict absolved Ripple from violating securities laws in their sale of XRP to retail investors, categorizing the asset as a “non-security.” This favorable ruling, coupled with escalating adoption rates, has buoyed anticipations of an upward trajectory for XRP’s value.
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Intriguingly, there are speculations circulating, including from insights shared by the OpenAI ChatGPT, hinting at a potential price surge for XRP, projecting a valuation of $3 by the year 2024. Factors contributing to this speculative forecast include Ripple’s legal victory against the SEC and the looming possibility of a bullish market cycle.
Despite recent corrections of 1.6% and 7.5% in the token’s value within 24 hours and 14 days, respectively, XRP has showcased an impressive 77% surge since the year commenced. Should market conditions favor a bullish trend in 2024, XRP might surpass its previous peak of $3.40, recorded almost six years ago in January 2018.