In the crypto world, Ripple (XRP) is certainly not the latest entrant. Ripple was one of the most ambitious projects in the blockchain and cryptocurrency ecosystem. It was born in 2013 in the United States, within Ripple Labs in San Francisco.
The project was started by Jed McCaleb and Chris Larsen, with the goal of overpowering all of Bitcoin’s weaknesses. Among the most interesting aspects of the project is its network and all the elements that make it up.
We are certainly not talking about an unknown project; Ripple is among the most well-known cryptos in the world.
Although for years now, it has been struggling against the SEC, the project continues to evolve and improve. New investments, new developments, and many additions continue to be made to Ripple’s system.
The lawsuit is coming to an end, in the meantime Ripple, its creators and its ever-present community, are opening up to new ideas for the future.
In the article we will look at all the developments related to the project, the news of the last period related to Ripple XRP.
Ripple (XRP) and the investment on NFTs.
One of Ripple’s goals is always to innovate the blockchain industry through investment and innovation. Since the advent of non-fungible tokens (NFTs), Ripple’s investments, have definitely changed, veering toward this expanding sector.
As we know, the NFT industry started on the blockchain in the form of digital art, and then expanded to music, fashion, and all kinds of creative arts. Now that the Non-Fungible Token industry is in the spotlight, Ripple is not unprepared and is supporting the growth of the industry with multimillion-dollar investments.
Ripple Labs Inc, the private company developing the Ripple protocol, has launched a $250 million fund for NFT creators. The goal is to bring creators’ collections to XRP Ledger, the smart contract platform designed for NFT creators. XRP Ledger is famous for its two strengths, its fast and really very cheap transactions.
Ripple aims to enter fully into NFT projects, seeking to collaborate with the best in the industry. In order for the Ripple ecosystem to grow, the founders are trying to land on the best expanding fields.
Ripple buyback theory is debunked
There has been renewed discussion in recent days about the XRP buyback theory, a theory promoted by Jimmy Vallee in 2021. In a nutshell, the theory is based on an argument that XRP could become the world’s next reserve currency.
The current financial system, especially in the United States, whose dollar is the world reserve currency, is facing trillions of dollars of debt, which is unsustainable. World economies will soon be destined to move toward a new financial system, XRP could be an asset, according to theory.
This could be achieved by purchasing the supply of XRPs from the secondary market. To keep the market stable, XRP should have a fixed price. This means that if XRP covers all the world’s wealth, its market capitalization should consequently reach quadrillions of dollars
But this theory has been repeatedly denied by all those close to Ripple, such as one of the lawyers involved in the lawsuit against the SEC John E Deaton. Matt Hamilton, Ripple’s former director of developer relations, has also criticized Jimmy Vallee’s theory, even calling him a fraudulent character.
Community pushes Ripple toward new listing on Coinbase
We all know the power of the Ripple community, which over the years has been vocal in defense of its project. This time it has spoken out against Coinbase, which long ago removed Ripple from its list. After its various successes in its lawsuit against the SEC, the community spurred Coinbase to list Ripple on the exchange again.
Coinbase for the time being will consider waiting before listing the digital asset again.
As we already know, no one has forced the U.S. exchange to delist Ripple. Most likely the outcome of the lawsuit against SEC will see new developments for Ripple, and it could probably be listed again on Coinbase’s exchange.