XRP has made a lot of news today with several major headlines.
Japan has okayed the XRP/SBI App which paves the way for the smartphone app which will power next generation financial infrastructure. Three initial clients in Japan are expected to be running on it by the end of the year and the rest of the Japanese Bank Consortium which consists of 61 local banks may follow in the months and years ahead.
McCaleb, the former co-founder of Ripple and the current head of XLM is continuing to sell off his XRP at about 500,000 XRP per day. This, for now, equals $250,000 per day, which is small compared to the over $900 million of volume of XRP that traded hands today so his sell-off should not impact price a great deal.
Ripple has also started a charity for education and financial inclusion. It will mainly focus on technology, engineering, and financial technology. This is a great PR move and it will help people understand the technology for the finances of the future and since it will use Ripple, allows Ripple to develop a future pool of talent.
The SWELL conference is happening next week and I am speculating that X-rapid may be announced during the conference which would be pretty huge. I think it if is, it may surge price up 300-400% before leveling off in the weeks to follow. I am not sure if this will happen and Ripple has made no indication but I think it would be a great PR and marketing move.
That’s the Ripple News roundup for today.