Ripple’s move to invest in the social aspect of creating financial awareness is hot news for this crypto coin at the moment. The firm recently announced that it will be pioneering an initiative program for this purpose known as ‘Ripple for Good’.
The team at Ripple made this announcement barely 2 days ago as the cryptocurrency shows a possibility to displace Ethereum from the 2nd market cap coin rank. Ripple for Good is geared towards supporting pilot projects that will increase cryptocurrency financial literacy & inclusion.
As it stands, Ripple’s spending in supporting social cryptocurrency projects is over $80 million in 2018 only. It plans to further roll out $25 million to support social initiatives like the Ripple for Good mile.
According to the crypto adoption stats, the world of digital assets has remained a premium market for wealthy investors. Ripple wants to change this narrative by bringing crypto coins to closer to everyone in both developed & developing economies. Through the Ripple for Good initiative, the company will make crypto education easily acquirable as well as scaling portfolio options by its digital asset innovation. According to a company statement released by Ripple,
“Today’s announcement to create an even deeper alignment with RippleWorks is another validation of Ripple’s long-standing commitment to leverage its technology, financial resources and team to improve lives. RippleWorks is thrilled to have even more of Ripple’s help to solve the massive challenges facing people throughout the world.”
This move by Ripple shows the firm’s serious intention of going international. Therefore, Ripple had to come up with an approach that would make crypto more familiar to their target market. This will ensure that all persons are able to leverage the XRP technology once it’s rolled out to the whole world. Ripple’s engagement in providing crypto education resources further proves its potential in funding their blockchain developments & maintaining an active community.
Ripple’s Head of Social Impact, Ken Weber, supported the above sentiments;
“When we reflected on the unique role Ripple could play from a social impact standpoint, we kept landing on the idea that the benefits of these new technologies should reach as many people as possible. If we are truly committed to transformative global change, we will work to help ensure that innovations in banking and global payments are available everywhere to everyone, among unbanked and underbanked populations and in economies and economic sectors that serve the greater good. Our goal is to deliver on the promise of an Internet of Value for all.”
The Ripple for Good team will collaborate with RippleWords to continue with the support for social Fin Tech start-ups. Clearly, the XRP team is committed to promoting the adoption of new tech with blockchain top on its chart.
XRP Price Analysis
At the moment, the XRP crypto coin is trading at $0.53 against the US dollar & 0.00007968 against Bitcoin. The price action for this altcoin in the past 24 hours has seen it gain 1.38% despite strong crypto market bears during this time. Cryptocurrency analysts have predicted that XRP might soon break its $0.55 resistance mark given its fundamental value & now the Ripple for Good initiative. However, its volatility in the past one month stands at 55% which is similar to that of its peer crypto coins.