Crypto analyst and influencer Ben Armstrong, who is the host of YouTube channel “BitBoy Crypto”, talked about about XRP (which is currently the seventh most valuable cryptoasset by market cap) in a video (titled “Bitcoin & XRP: 2 BEST Opportunities in Crypto”) for his super popular YouTube channel.
Here is what Armstrong said about Ripple and XRP:
- Ripple is “continuing to make moves.” As Ripple announced on its Insights blog on June 30, the Californian FinTech firm has hired Sendi Young as Managing Director of its European operations. Ripple said that Young would “oversee strategy and champion the expansion of Ripple’s global financial network technology, RippleNet, which delivers financial solutions that enable customers to easily run and scale their business.” Prior to joining Ripple, Young had “a five-year tenure at Mastercard, where she held leadership roles driving strategy, commercialization, bank-fintech partnerships and business development.”
- Ripple has invested in Mintable, an Ethereum-powered non-fungible token (NFT) platform. According to the announcement by Mintable, the other participants in the $13 million Series A funding round included “Animoca Brands, the leading mobile and blockchain gaming developer; Metapurse, the world’s largest NFT investment fund backed by Metakovan; Doug Band, American businessman and former advisor to Bill Clinton; and Jon Oringer, founder and executive chairman of Shutterstock.”
- XRP is “going to crush it this year.” For those people who are not “philosophically opposed to the ‘centralized banker coin'”, XRP is “offering an incredible opportunity.”
- Ripple is ready to invest if necessary in order to get into the South American market.
- According to Armstrong’s sources, central banks seem to be getting ready to use XRP once the lawsuit of the U.S. Securties and Exchange Commission (SEC) against Ripple Labs has been “cleared away.” On March 3, Ripple said in a blog post that it is “piloting” a private version of the open-source public XRP Ledger (XRPL) to allow central banks to create and manage their own digital currencies. The XRP Ledger was created in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto, and XRP is the native currency of the XRP Ledger. Ripple mentioned that more than 80% of the world’s central banks are “actively exploring some form of sovereign-backed cryptocurrency”, and that eventually there would be a wide range of central bank digitial currencies (CBDCs). It went on to say that existing public blockchains cannot meed the needs of CBDCs since “a Central Bank requires more transaction privacy and control over its currency than a public ledger can offer,” which means that it is “most likely opt to create a CBDC on a private ledger that can also operate at the required scale.”
DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
