article image

Yuri Molchan

Major XRP and Ripple enthusiast and community influencer explains new opportunities gained by Ripple after recent major partnerships

Ripple enthusiast “Wrath of Kahneman” has taken to the X app to share his take on the results that can now potentially be achieved by Ripple Labs fintech giant after it recently inked a partnership with Metaco and announced an agreement to acquire Fortress Trust, both major companies.

Metaco and Fortress Trust strengthen Ripple, per this influencer

Metaco is a Switzerland-based company that provides crypto custody services to financial institutions. This will allow Ripple to expand mass crypto adoption to financial institutions.

Also, recently, the blockchain giant spearheaded by Brad Garlinghouse announced that they are acquiring Fortress Trust, a financial institution that offers financial and technological, as well as regulatory, infrastructure for Web3.

The Wrath of Kahneman X account believes that with these two partnerships/acquisitions, Ripple Labs has also acquired properties that can help the infrastructure for crypto platforms (exchanges, companies, wallets and various dApps), to help them connect to traditional financial institutions dealing with fiat — banks, trusts, etc. Ripple, he stated, can now “tokenize real world assets and hold them in safe, compliant ways.”

Ripple keeps selling XRP on regular basis

As reported by U.Today earlier, Whale Alert crypto tracker detected another XRP lump transferred by Ripple to a crypto exchange.

The amount of 29,500,000 XRP was transferred to the Bitstamp exchange about 24 hours ago with an obvious intention to sell. This amount of XRP is the equivalent of $14,658,817 USD.

This is not the only XRP chunk transferred by the crypto giant recently. Over the past few weeks, the above-mentioned tracking platform has spotted four or five XRP lumps of a similar size moved by Ripple to Bitstamp.

At the time of this writing, the sixth largest cryptocurrency, XRP, is down nearly 5%, trading at $0.4753, according to data provided by CoinMarketCap.

Leave a Reply

Your email address will not be published. Required fields are marked *