The crypto industry has a busy week ahead, and it appears coins are starting the week off relatively well. Currently, there is a mixture of both red and green on the crypto markets. One altcoin that has found its way into the green zone today is Ripple (XRP).
So, what’s going on with Ripple (XRP) today? What’s the crypto community saying about the coin? Let’s see what we can find out.
Ripple (XRP) Daily Chart
Ripple (XRP) is currently selling for $0.748183. This puts XRP up 3.11% in the past twenty-four hours. XRP is ranked as the third largest virtual currency. It is behind Ethereum (ETH) and ahead of Bitcoin Cash (BCH).
XRP has a reason for being in the green today. On Monday, Ripple announced a new initiative, deemed Xpring. It’s likely Xpring was created so the platform could expand the use of its currency. Essentially, the Xpring initiative will focus on reeling in both entrepreneurs and their various businesses over to the platform. They want to bring these businesses to both the virtual currency and the smart ledger. Why? So that Ripple, with the help of these entrepreneurs, can create an ecosystem.
The Xpring project is going to be beneficial for two reasons, in particular. First, the project will allow Ripple to continue its work in its financial services company. Further, the project will be funded in different ways, such as investments and grants, to attract different businesses and expand the use of the cryptocurrency.
According to Ripple’s SVP Ethan Beard, both blockchain and digital assets have the potential to “solve important problems,” and XRP, which, according to Beard, has “speed,” “scalability,” and has “demonstrated real-world use case” is one of the most effective tools for entrepreneurs looking to advance their businesses.
Excited to announce Xpring, a new initiative that supports businesses growing on the XRP Ledger, and initial investments in @SB_Projects, @blockchaincap, @Coil_ and @omni. Together, we will grow the #InternetofValue! https://t.co/Vx7cBrnz3D
— Ripple (@Ripple) May 14, 2018
Xpring Already Has Connections
Xpring has already offered support to various influential leaders around the world. This may be another reason why Ripple (XRP) is up today. According to Ripple’s blog post, titled ‘Welcome to Xpring’, Xpring has offered support to the following people:
– The co-founders of Blockchain Capital: Brad and Bart Stephens.
– The founder of SB Projects: Scooter Braun
– The co-founder of TxtBear: Stefan Thomas
Scooter Braun, American businessman and talent manager, stated that Ripple (XRP) has the potential to provide musicians with “new distribution channels,” as well as “revenue streams.” According to the SB Projects founder, providing artists’ with these new channels and streams will create more room “for artistic freedom.”
— Scooter Braun (@scooterbraun) May 14, 2018
The crypto community seems quite pleased with the news. In response to Scooter Braun, one Twitter user called XRP the future.
Xrp is the future! Well done Scooter.
— Hugo Scoccia (@HugoGarciaRain) May 14, 2018
The COO of Omni joined the conversation as well, writing to his followers that big things are coming.
Congratulations to our friends at @ripple for the launch of Xpring, to our board member @justmoon creating @Coil_ (so pumped for this), and to @scooterbraun using XRP in entertainment to support artists. Big things coming! https://t.co/yG0D34OSn7
— Ryan Delk (@delk) May 14, 2018
As for the rest of the Twitter community, more support was shown to the platform.
Thank you Ripple for reinvesting in the XRP ecosystem instead of sucking out all the value and giving it off to electricity companies as “mining fees”.
Like if you agree!
— Dr. T (@XRPTrump) May 14, 2018
Smart to build around such a versatile asset with practical real world adoption. Smart of Ripple to utilize XRP.
— freefromthegrip (@regretandreward) May 14, 2018
What do you think about the XRP news today? Do you think this initiative will play a defining role in the entertainment industry? Let me know below.
Featured Image: twitter