Ripple [XRP] shows bullish trend reflecting widespread adoption

After a rollercoaster Q1 2018, Ripple has shown 30.09% growth in the last week alone, leading to speculations that it would make the $1 leap this week. This bullish trend is a part of a general uptick in the altcoin markets. It can also be attributed to the widespread adoption of Ripple by leading financial institutions worldwide.

XRP graph for the week 17-23 April

Companies such as Santander UK, SBI Holdings, Moneygram, Mercure FX and IDT Corporation use Ripple’s technology. Ripple’s association with Chinese third-party payment service provider LianLian International has attracted much attention, as the company is China’s fourth largest non-banking operation of this kind. Santander UK has released a mobile app, OnePay FX, which functions on Ripple to ensure seamless and fast transactions across borders.

Ripple has invested $150 million in XRP in the company Blockchain Capital, which focuses on new startups in the blockchain space. Ripple has stated in a press release that:

“The $150 million fund managed by Blockchain Capital will invest in entrepreneurial teams that are building businesses using blockchain technology. The investment will also provide an opportunity to identify new use cases for the XRP Ledger and Interledger Protocol”.

This correlates with its partnership with Hyperledger, which was released in the form of Hyperledger Quilt with support for Ripple’s own Interledger Protocol [ILP]. ILP supports various cryptos such as Ethereum, Bitcoin, and Litecoin.

The ROI on XRP has also been emphasized in recent times, with Forbes magazine stating that:

“XRP has the potential to gift investors with a whopping 300% return.”

There have also been speculations that Ripple might make a significant announcement in the weeks to come. This comes after Ripple’s vision for the Internet of Value [IoV] was made clear.

Overall, XRP is following an uptick trend in value, from $0.65 on April 16th to $0.86 on April 23rd, with its highest value this week at $0.94 on April 21st. While XRP hovers at the $0.90 mark at the time of writing, analysts predict that it will make the leap to $1 sometime this week.

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