As the crypto market seems to start a new phase of bull rally, the XRP community might get something extra to spur up their happiness. This after Solari Inc. President, Catherine Austin Fits, said in an interview that a year ago the US Navy hired a Danish tech company to develop an implantable microchip that is compatible with Ripple’s blockchain.
The news is a huge coincidence at a time when Ripple is facing a class-action lawsuit, filed by several early XRP investors who think they were swindled by the company. The move by the US Navy to support Ripple blockchain will go a long way in winning new customers for both XRP and RippleNet.
Besides, the news also coincided with a time when Ripple had made extra renovations to its webpage, adding most of the information that was not available for the public. It seems the company is responding to claims of centralization of its network, by making it more open and decentralized.
Ripple has been making significant partnerships with notable financial institutions, to expedite cross-border payments.
Its RippleNet system has over 300 financial institutions and counting, and now with the new US Navy partnership, XRP market price might react positively to the news. As it is well known in the crypto space, speculative trading has a bigger share than fundamentals.
The US Navy Implantable Chip Compatible with Ripple’s Blockchain
The conversation started when Kelvin Cage, a crypto investor, posted a video of Catherine Austin Fitts detailing her thoughts on the matter. In the video, she said that any information from her is reliable based on the fact that she has a lot of experience and information on Denmark’s businesses.
“They had one of the tech firms in Denmark, which was being paid by the US Navy to come up with a chip that could be implanted in the human body and that could integrate with Ripple.”
She added, ‘Ripple is crypto and it’s the one that’s gotten a lot of promotion from the American establishment in my experience.’ ‘Just my impression.’ She concluded.
What Next for Ripple and XRP
The news has been welcomed warmly by the XRP community who have been fearing future repercussions of the class action lawsuit. The support from the government body will be a stamp that the token is here to stay, and more might be on the way.
On one hand, Ripple is going to experience a surge in RippleNet customers, as the trust in the company will increase. As a result, more financial institutions will embrace the ODL that utilizes XRP for liquidity. The adoption rate of the coin will go to the grass root, which will increase major fundamentals like demand, and market volume and capitalization.
The reciprocal will be a surge in the XRP market price if all other factors remain constant.