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Justin Sun Believes The Recent XRP’s Surge Is A Sign that Financial Institutions Will Finally Adopt Blockchain

The surge of Ripple’s XRP prices has really excited the cryptocurrency community over the past few days. The coin started off slow on September 17th, trading at $0.274, only for it to jump, registering a peak of $0.769. The digital asset had dethroned Ethereum briefly to take up the 2nd spot yesterday in terms of market capitalization.

Justin Sun Believes This Performance Is A Sign Of Rising Blockchain Adoption

Justin said in a recent tweet that, the recent surge of Ripple’s XRP in the cryptocurrency market was because of PNC Bank recognizing its protocol. He further added that it was also a sign that financial institutions are going the blockchain way. His tweet read as follows:

“XRP surge shows PNC Bank’s recognition of the Ripple protocol. With Bill Clinton keynoting Swell 2018, blockchain is going mainstream! As Ripple’s Greater China Chief Rep from 2014-16 and a Ripple shareholder, I’m confident financial institutions will adopt blockchain. #TRON $TRX.”

Justin Congratulates Ripple And Its Former CTO Stefan Thomas

Justin Sun also went ahead to congratulate Ripple and the platform’s former CTO, Stefan Thomas, in a brief tweet. It read as follows:

 

Although Justin didn’t go into details as to why he congratulated Stefan and the Ripple platform, it could be due to a few reasons. These include:

  • PNC Bank recognized the possibilities of the Ripple protocol in the banking industry, particularly the xCurrent product suite by the platform, which simplifies cross boarder payments
  • A project led by Stefan Thomas known as Coil is testing web monetization with top websites such as Wikipedia
  • Signs that xRapid will likely go live coming month
  • Ripple’s XRP surging markets

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