This past week, Ripple Labs Inc, the organization that developed the XRP blockchain published its second-quarter report.
While the statistics may be hard for some people to understand, there are quite a few interesting things which everyone must take note of.
XRP is Maturing
The XRP token is taking its place in the crypto space.
Through partnerships with MoneyGram, the deployment of Xrapid which is its tool for quick value transfers is going to allow for XRP to be used in a real-life best-case scenario.
This, of course, will allow for the current depressed prices of the token to rise in tandem with the forces of demand and supply.
Government Adoption Shows Promise
As part of a policy-making exercise, the US Securities and Exchange Commission is about to create an XRP Node.
This shows the US Government’s interest in trying to get its share of the crypto pie.
It also means that governments may as well make their peace with cryptocurrencies.
After all, there is no love lost between these two!
With three Billion XRP valued at $251 Million released into the markets and roughly two-thirds of it were brought back as escrow, it is obvious that Ripple Labs and a few people control the market share.
This kind of market dominance is worrisome.
It doesn’t mean however that the cryptocurrency has failed.
It just means that there aren’t many entrants into the market yet.
That may change soon, however.
Xpring Could Challenge Ethereum Tokens
This is an extremely important development.
Xpring being the development tool for other tokens which will work on the XRP blockchain is going to be rolled out anytime soon.
If Ripple Labs does it right, Xpring may just be the game-changer for the crypto space.
Ripple Believes in Crypto-Collaboration
Mentioning other projects in their report indicates that the management of the company isn’t trying to outshine other cryptocurrencies.
It also means that they will be willing to collaborate with others on projects that enhance value.
What are your thoughts on XRP’s Q2 Report?
Let us know in the comments below!