Rajarshi Mitra
Independent Analyst
- Two main factors for Ripple’s success was credited to xRapid and the MoneyGram partnership.
- Ripple’s developer behavior metric received a 7.1% spike following its partnership with MoneyGram.
TheStreet and Flipside Crypto have published a new analysis on XRP. It highlighted Ripple's xRapid and the integration with MoneyGram as two critical factors behind the "A" rating for the digital asset. The four factors that the piece judges XRP include developer behavior, market maturity, user activity and Flipside’s fundamental crypto-asset score. It said:
“Ripple is a growing force across the global financial landscape, establishing inroads to institutional finance while cultivating products in the cryptosphere…The company is offering conservative institutional clients an on-ramp to the Ripple platform through xCurrent, while also evolving xRapid to offer refuge from the complexities of using foreign-exchange markets to settle transfers. That’s effectively delivering efficiency and cost savings to established market participants.”
Flipside stated that Ripple's integration with MoneyGram resulted in a 7.1% spike in its developer behavior metric. It also said that Ripple onboarding more institutional clients can increase the fundamental value of XRP. The report added:
“While Ripple Labs maintains that it no longer has control over the Ripple cryptocurrency, it still owns a substantial portion of the outstanding tokens. The company is also actively developing and promoting adoption of its xRapid solution, which utilizes Ripple cryptocurrency.
As such, it’s likely that the Ripple Labs team will continue striving to ‘onboard’ institutional clients wary of crypto volatility to xCurrent, with a long-term vision of moving these customers to xRapid over time. So, keep an eye out for more high-profile partnerships to emerge from Ripple Labs during the balance of this year.”
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