Leading fintech firm Ripple announced the partnerships with top financial institutions, global banks, and cryptocurrency exchanges in July. The collaboration includes MasterCard, JPMorgan, OKX, and OndoFinance, and Ripple will provide its services to bring finance onto the blockchain ledger. Market analysis firm Grayscale Research discussed Ripple’s institutional strategy and real-world adoption, which could help XRP strengthen in the charts.
Charlie Perkins, the associate at Grayscale Investments spoke at length with Ripple’s SVP of Stablecoins, Jack McDonald about the company’s prospects for bringing the XRP Ledger to multinational corporations. “Everything we do around Ripple is built around serving institutions and building institutional-grade infrastructure to help more value,” said McDonald. He explained that Ripple now has a presence everywhere it wanted to be, indicating that it has become a prominent company in the financial landscape.
“Yesterday, we talked about a partnership with MasterCard, JP Morgan, and OndoFinance, where trades are settling on the XRP Ledger. Last week we had a big announcement on OKX, specifically for our stablecoin RLUSD for both spot and derivatives trading. From a stablecoin perspective, we have very strong momentum, not only in market cap growth, but more importantly, the long-term utility that we’re seeing. A lot of focus on getting availability around all the major exchanges,” he said.
Also Read: 3 Reasons Why XRP May Break Out Soon
Will These Collaborations Push XRP’s Price Ahead in the Charts?
Technically, these major collaborations must push XRP ahead in the charts. However, Ripple and its native token are disconnected in trading and don’t go hand-in-hand. Over the years, there have been several partnerships with multinational financial giants, and Ripple directly profits from them. XRP does not benefit from the ordeal as it runs on market technicalities. The market is being dictated by global developments, making the altcoin remain range-bound in the indices. Its price has been hovering between $1.05 and $1.10 since last month.
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