Ripple Announces Xpring Initiative, XRP Moves into the Green

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). 

Xpring

Source: CoinMarketCap

XRP News

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. 

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.” 

Community Response 

The crypto community seems quite pleased with the news. In response to Scooter Braun, one Twitter user called XRP the future. 

The COO of Omni joined the conversation as well, writing to his followers that big things are coming. 

As for the rest of the Twitter community, more support was shown to the platform. 

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The Takeaway

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

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