- After the partial ruling, Ripple plans to improve their brand further. In fact, they are putting together a strategic plan for the long-term growth of the token.
- The most recent plan is their new partnership with Faster Payments Council. Furthermore, The Republic of Palau partnered with XRP to create a new stablecoin in their ledger.
- Apparently, all these plans are to help push the price of XRP to an expected $20. A popular Bitcoin analyst already confirmed a possible rally to $20.
On 13th July, Ripple, the parent company of XRP, received good news from the law court. For nearly 3 years, Ripple and the SEC continue to battle over crypto regulations. The Securities and Exchange Commission is accusing XRP of being a security. Ripple, on the other hand, said XRP wasn’t a security. The two parties received clarity with the court declaring XRP non-security on many grounds. Since then, Ripple started a step-by-step implementation of several plans. Many of these plans aim at moving XRP’s value to a new level irrespective of the court case outcome. Many analysts expect XRP to grow to $20 with these new plans.
Ripple Partners With The Republic of Palau
The latest XRP partnership is that of The Republic of Palau for the creation of a stablecoin. Apparently, The Republic of Palau wants to create a USD-backed stablecoin on XRP’s ledger. But a collaboration with XRP solidified the country’s new stablecoin development.
It is clear that the government of The Republic of Palau wants to create a CBDC payment system. However, they need a blockchain to build their new USD-backed stablecoin. Even after the SEC lawsuit, XRP always makes the list of payment blockchains. So, this new partnership will help create a long-term use case for the XRP network. The new stablecoin is named Palau Stablecoin (PSC).
XRP Partners With Faster Payments Council
Besides the new partnership with The Republic of Palau, Ripple made another with the Faster Payments Council. The new collaboration with the Faster Payments Council was to conduct a survey. Apparently, the survey was about the differences between legacy and crypto payments.
According to the new survey, payment organizations chose cryptocurrencies for cross-border payments. 300 leaders of the payments industry participated in the survey. Ultimately, a large percentage of them expect the crypto industry to change the outlook of payments.
Will XRP Ever Reach $20?
With all the moves Ripple has been making, it all points to positioning itself for the next bull market. In fact, Captain Faibik, a pro-Bitcoin crypto analyst, made some analysis on XRP’s price. According to him, XRP can reach the remarkable height of $20 to $30 on the next bull run. However, he cautioned that traders shouldn’t put their hopes high.
In conclusion, it is pretty clear that Ripple has not been idle since the partial ruling from the court. They continue to make collaboration to position themselves for the next bull run.
