Ripple (XRP) is one of the biggest digital currencies in the market so far. With a market cap of $10.38 billion, XRP enthusiasts and investors are trying to contemplate whether the coin will hit the $10 mark within the next three months.
XRP’s Looming Partnership with J.P Morgan
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In December 2017, XRP CEO- Brad Garlinghouse- recognized the presence of 15 executives of J.P Morgan in a conference he organised concerning XRP’s inventions. By then, the price of XRP was more than the $1 mark for the very first moment ever.
Since then, XRP investors, enthusiasts and the media have become anxious about a probability of a potential collaboration between XRP and J.P Morgan.
The Likely Influence of the Partnership
The partnership will greatly influence the price of XRP since the xRapid aspects of XRP will draw the attention of the giant financial institution across the world. Recently, the J.P Morgan Treasury Department also claimed that they were developing a real-time payment system, which will bring “ripple benefits” to their customers.
This claim aroused anticipation for XRP investors and enthusiasts but is J.P Morgan ready for a partnership with XRP?
In press release aired a week ago, an insider’s narration hinted on the intention of both firms to team up soon. According to the narration, the establishments were holding high-table negotiations and consultations with the news of the collaboration projected to hit the headlines when released.
XRP- The Preferred Distributed Ledger Technology
XRP inventions are acknowledged to be bank friendly, and the company has experienced a wide adoption of its recent xCurrent system by over a hundred banks according to its managing director. J.P Morgan is on the verge of employing a new payment system in the US with the intention of simplifying processes from starting transactions down to reconciliation.
This plan corresponds well with XRP’s xRapid invention. Now that XRP’s inventions have been acknowledged to be bank friendly, the chances of J.P Morgan striking a deal with XRP soon are so high.
This makes us believe that XRP will hit the $10 mark by the end of 2018 due to high transaction volumes and its swelling market cap.