The past year has been challenging for Ripple and its native XRP asset. Various exchanges delisted the asset because of the ongoing SEC investigation. Even so, it seems the momentum is turning in favor of this project once again.
Relisting XRP Is A Thing
Contrary to what most people might expect, there is a chance various exchanges and trading platforms will re-add XRP to their trading markets shortly. Lykke has already taken the plunge by resuming support for XRP deposits and withdrawals. This sends a strong signal to all other platforms that decided to remove Ripple’s asset in recent months.
We are thrilled to #RelistXRP – bridging the gap of traditional finance with the new world of blockchain is our mantra and #XRP is foundational to achieving this goal; it is a milestone that regulation allows us to relist, a big step forward. https://t.co/DPaECaJXlU
— Richard Olsen (@richardbolsen) March 26, 2021
The big question is whether this “RelistXRP” movement will spark others to take a similar approach. There are still many platforms where this asset is no longer accessible, yet very few of them show any interest in going back on that decision. Even so, nothing seems impossible in the cryptocurrency industry these days.
The Tranglo Stake
In a somewhat surprising turn of events, Ripple acquired a 40% stake in Tranglo. As Asia’s leading cross-border payments specialist, the company can be a viable ally for Ripple. Over the years, the company has acquired a lot of support across Asia, making any new partnerships interesting. By acquiring a 40% stake in Tranglo, Ripple can expand its Ripplenet On-Demand Liquidity service.
This partnership’s main benefit is tapping into expanding support for existing corridors – such as the Philippines – and tapping into new markets. RippleNet’s ODL has made a positive impact on money transfer services in recent years. Additionally, Ripple’s Line of Credit will come to these regions, freeing up more capital. An exciting development, although the full ramifications have yet to be determined.
The CBDC Angle
There are many concerns regarding the future of central bank digital currencies or CBDCs. While no one knows what the future will hold in this regard, it seems that the XRP Ledger may play some role of importance. As more financial institutions explore the option of creating their own digital currencies, the landscape may change forever. Whether that is for better or worse is a different matter altogether.
PAC Protocol Node
The Ripple network can only succeed with sufficient validator nodes helping to move transactions along. Adding a validator node to the network is not easy, yet PAC Protocol has done exactly that. Under the PAC Global banner, a new XRP node validator has been added to the network. Further confirmation of how there is still plenty of support for this project and XRP.
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