Former Director Encourages Ripple’s Investment Approach as Partnerships Grow
In a recent post on X, former Ripple Director Sean McBride recommended that Ripple should utilize its available funds to acquire another company and activate an investment cycle. He emphasized the importance of reinvesting, building, and repeating for the company’s growth.
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Ripple has made significant strides in forming partnerships with major financial institutions such as Santander (UK), CIBC (Canada), Kotak Mahindra Bank (India), and Itaú Unibanco (Brazil) to enhance cross-border transactions.
These partnerships have led to increased user activity on the XRP Ledger and a surge in transaction numbers. Ripple’s Chief Technology Officer, David Schwartz, hinted at potential integration of decentralized finance protocols with traditional finance institutions following these developments.
Whale Alert, a crypto tracking service, reported a substantial transfer of 150 million XRP coins from Ripple to an unregistered blockchain wallet, with a fiat value of approximately $78.2 million at the time of reporting. The reason for this large transfer remains unknown, sparking curiosity within the crypto communities, particularly with the ongoing case between Ripple and the U.S. Securities and Exchange Commission.
Many are hopeful that these developments will lead to an increase in the value of XRP, including McBride, who indicated a vested interest in the altcoin. He expressed a desire to see XRP reach its full potential, allowing him to focus on non-business-related endeavours.
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Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
