XPring May Improve the XRP Market Better Than xRapid Ever Could
Ripple has been making quite a stance in the cryptocurrency and fiat markets for a while, offering products that bridge the gap and promote more trading and spending. Their performance has even led the World Trade Organization (WTO) to say that they are one of the few companies that has the power to revolutionize how cross-border trading is done. This prediction is only further supported by their launch of multiple trading products. Though xRapid didn’t have the desired effect that the company had hoped for, XPring may bring the progress necessary.
Though Ripple has made progress, there’s been some debate from investors over whether XRP actually qualifies as a decentralized platform, based on the interactions it has with traditional banking options. Right now, RippleNet is used by multiple banks and corporations around the world, since it allows them to send money transfers across borders at a rapid speed, using XRP as the currency. However, it’s the fact that banks can use XRP themselves that it doesn’t qualified as being completely decentralized.
To help with the reservations that the industry has about Ripple, they’ve been taking some action, like establishing that the XRP crypto token and Ripple as the company are two separate entities. Ripple doesn’t rule over XRP, which means that XRP is technically decentralized, even if the Ripple platform isn’t.
XPring’s launch is meant to promote the fact that XRP is decentralized, which encouraging mass adoption by the rest of the market. It supposed initiatives that are rooted in blockchain technology, which helping with the adoption of the tech to different use cases. It is clear that the use of both xRapid and xCurrent have helped with this effort, but XPring is the only one that seems to be pushing for mass adoption of crypto.
So far, the project has been making waves with Coil, XRP Tip Bot, SB Projects, Omni, and Blockchain Capital, which are all products that that help various economies to monetize their efforts. Coil, for example, promotes XRP donations from internet users, while SB Projects makes it possible to monetize artists’ content. To help the public believe that Ripple is maintaining decentralization, they’ve strived to only get minimally involved in these services.
Right now, XPring has nearly 100 projects in the works, which might be the push needed to move forward. Some experts believe that this is the project that could ultimately push ahead the XRP mass adoption, leading into an XRP bull run soon.