Ripple (XRP) has been so occupied with new technology releases, various solutions focussing on cross-border payments and other systems and are the most popular when it comes to partnerships. Their long vision with the Internet of Value and the ideology to bring an actual change to the entire payment system has reached far ahead. They are yet again here with some very interesting and unique called the Xpring (pronounced Spring), as curious and fascinating as it sounds.
Ripple officially tweeted:
“Excited to announce Xpring, a new initiative that supports businesses growing on the XRP Ledger, and initial investments in @SB_Projects, @blockchaincap, @Coil_, and @omni. Together, we will grow the #InternetofValue!”
Ripple (XRP) clearly states that they want to act as a proverbial spring for the most serious ones and to make sure they have the key essentials to prosper in and grow their businesses. Xpring is hence a new initiative to invest in, incubate, acquire and permit grants to projects and companies run by entrepreneurs who have proven themselves. Every one of these entrepreneurs will be using XRP, the digital asset and the ledger – XRP, the decentralized, open-source technology behind it to solve their own customers’ problems in a way that will transform many things.
“As one of the few blockchain companies with traction for a non-speculative use case, we feel we’re uniquely positioned to support entrepreneurs in a meaningful way.”
Ethan Beard will lead the new project and Ripple’s developer program as the senior vice president on whom the team truly believes as part of a great team which will offer the best possible support. Ether had previously served as the Director of the Facebook developer Network until 2012 before moving into an advisor role at various tech companies.
“I love helping startups leverage new technologies and developments to grow. Blockchain and digital assets have the ability to solve important problems and XRP – with its speed, scalability and demonstrated real-world use case – is a great tool for startups and entrepreneurs to build businesses around.”
Ripple will continue to move along its vision of helping financial institutions eliminate friction from global payments while the XRP ledger with its best qualities being stability and scalability makes it a perfect option for entrepreneurs. Xpring has already supported a lot of such budding companies including SB projects, Coil, Blockchain Capital to name a few.
The founder of SB projects, Scooter Braun says:
“Blockchain technology and digital assets like XRP will provide artists with new distribution channels and revenue streams.”
Further, he added on:
“This creates more space for artistic freedom, and I’m excited our team is among the first in the entertainment industry to lean into the blockchain movement. This is only the beginning as we will continue to build out more use cases for XRP.”
On the other side is Ripple’s own digital token – XRP continuing its sluggish performance as it was in its Q1 this year. Not to forget the fact that the entire market is sluggish from few days, XRP is not to be blamed alone but many coins have already shown positive signs and are fighting hard to grab higher spots while XRP also has one such competition, Bitcoin Cash [BCH]. It was a close call until yesterday with a very minimal difference in their market caps and both thriving for the 3rd spot, XRP managed to sustain its top 3rd position in the market. That is sure good news but itis not in a very safe position right now with a market cap of $29.26 billion, considerably low as the market has witnessed higher values up to $36 billion and more this very quarter. The current trading value of XRP is $0.74 as it has been inclining upwards very slowly with minimal figures.
Dr. T, a Twitterati says:
“The core digital asset that’s going to power the InternetofValue: XRP! xrpthestandard Thank you, Ripple, for reinvesting in the XRP ecosystem instead of sucking out all the value and giving it off to electricity companies as “mining fees”.
Freefromthegrip, a market speculator tweeted:
“Smart to build around such a versatile asset with practical real-world adoption. Smart of Ripple to utilize XRP.”
Chief Cryptographer and one of the original architects of the Ripple XRP network said:
I’ve seen the XRP Ledger develop from inception to the broad ecosystem it is today. Thrilled to see Ripple support new businesses that strengthen the technology’s reach and impact through Xpring.