Ripple has been engaged in different things this year. Ripple has been in the receiving end of both good and bad news. For instance, Ripple created xRapid and has been teaming up with different companies. However, there are also some controversies as Ripple dealt with lawsuits that claim XRP of being a security.
But one thing that made Ripple successful this year is its active pursuit towards getting the all the help that they can get. From acquiring new talents to getting celebrities in promoting XRP, these are just some of the tactics utilized by Ripple in 2018.
This time around, it was reported that Amir Sarhangi was hired to head Ripple’s global payment network, RippleNet. Amir Sarhangi is going to leave Google and take on the new role at Ripple. He worked since 2015 for the search engine giant after he was acquired from Jibe Mobile.
Jibe Mobile is Amir Sarhangi’s brainchild. The company was providing tech for wireless carriers that are looking to make use of rich communication system (RCS) on their network.
A Beginning of a New Phase?
This could be a sign that there are changes waiting for Ripple. It could be a sign of growth for Ripple. RCS technology is believed by experts as the next big thing to SMS. Tech majors such as Apple and Samsung are already working on using RCS on mobile devices. And Ripple could potentially be looking to apply such technology in their mobile payment platform.
So far, Ripple has been doing well. It was able to take Ethereum’s place on two occasions. The reason was Ripple’s new product, xRapid. According to reports, xRapid is the one that will bridge cryptocurrencies and fiat currencies. There are already a number of entities that are looking to adopt the use of xRapid.
How exactly does xRapid work? It plans to decrease the cost of cross-border transactions. It works by using XRP to send transaction and then converted into the fiat currency of choice in the other end.
Ripple Doing Well Despite a Bad Market for Altcoins?
In the last quarter, Ripple’s sales grew. In fact, it sold more than $160 million. The price of XRP was also doing well during the quarter. Though Ripple is still down from the all-time high that it experienced during the start of the year, the good news is that it isn’t exactly alone. Even Bitcoin has lost a significant amount of its all-time high price.
If you will compare the XRP sales from last year, it has doubled based on the same quarter in 2017. Last year, Ripple only had a total sale of $73.5 million.
There are those that are anticipating Ripple to get to $1 soon. Considering the partnerships that it made with companies, there is a chance that Ripple products are going to be adopted by these large companies. Cory Johnson who works for Ripple as their Chief Market Strategist believes that the platform could change how value is moved.
Right now, fiat has to be moved by authorized parties within the central bank network. What Ripple offers is something that is efficient and cost-effective.