Ripple Partnered Up With Hundreds of Companies – Is a Price Surge In Sight?
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.
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.