For a long time now, there has not been a lot of warmth towards XRP regarding decentralization. Ripple still controls a large amount of XRP and it had been concluded that it’s impossible to be truly decentralized with those circumstances.
However, it would seem like XRP might be interested in changing that narrative and one of the ways there can be some level of transparency is through an XRP ledger validator.
An XRP ledger is a decentralized ledger that is run by peer-to-peer participants. It is a primary way to ensure consensus in the network. Now, crypto exchange Coinfield and Omni, a tech on-demand rentals marketplace have launched their own XRP ledger validators.
Omni and XRP
A few months ago, Omni successfully raised $25 million in an investment funding round led by Ripple. After this happened, Omni then officially implemented XRP as a payment option for its customers. Omni customers who decide to adopt XRP in cashing out can do so free of charge.
This was confirmed by Omni founder and CEO, Thomas McLeod, who also said that there will be more changes as time goes on. McLeod also described Omni’s decision to launch their XRP validator as a great way to add to the XRP ecosystem.
Coinfield and XRP
Back in September 2018, Coinfield officially chose XRP as its base currency and soon followed it up by onboarding 22 new XRP pairs. Even though it has been confirmed that Coinfield has launched its XRP ledger validator, there has been no official announcement from the exchange.
XRP Breakout is Possible
There is so much Ripple is doing to promote not just cryptocurrency adoption but also XRP specifically. The firm’s RippleNet is a network that boasts of hundreds of financial institutions daily, using Ripple’s different solutions to improve the efficiency of their different businesses. Because of all this effort, it’s unlikely XRP will lose a lot of momentum for very long.
XRP is currently at $0.317365 after the XRP/USD pair successfully surpassed two resistance levels at $0.3120 and $0.3150. This could also be tied to Bitcoin’s slow rise above $10,000 after struggling below it for a while. If Bitcoin continues and becomes significantly bullish, XRP is expected to follow suit as well.
