There are many interesting Ripple plans for 2020 that are worth knowing. As the first month of 2020 has already passed, we need to know which are Ripple plans for 2020. In this article, we will share with you some of the most interesting projects related to Ripple. Moreover, we will also tell you how Ripple could help the crypto market grow.
Rumours of Initial Public Offering (IPO)
One of the most important Ripple plans for 2020 is related to an Initial Public Offering (IPO). Going public is something many crypto companies aimed at doing but it’s very difficult for them. Some reports suggest that Ripple could be planning an IPO this year.
Brad Garlinghouse, the CEO of Ripple, explained in a recent interview that companies in the blockchain space could go public.
About it, he commented:
“In the next 12 months, you will see IPOs in the crypto space. We are not going to be the first and we are not going to be the last, but I expect us to be on the leading side.”Brad Garlinghouse, CEO of Ripple
He has also added that this is the natural evolution of the company. With these comments, he suggested that Ripple could be moving forward with an IPO. In this way, the firm would rely less on the XRPs they have stored in order to fund their operations.
Until now, Ripple has been selling the XRP coins it has stored so as to pay for their expansion. With funds from the public, the company could keep growing and expanding XRPs utility around the world.
Ripple Services Become Adopted By Several Companies
In the last few years, Ripple has been expanding its services thanks to companies adopting their solutions. Two of these companies include MoneyGram, TransferGo or Santander, among others.
Ripple plans for 2020 include adding new firms to the services they are currently offering. Indeed, the goal is to expand its services by working with more companies in different countries.
Although we can just speculate, XRP could start being embraced by banks. Santander, one of the largest and most popular banking and financial institutions in Europe could start using XRP. The virtual currency could be used by the bank in order to perform cross border payments.
Santander is located in different continents and its services are being used in a wide range of currencies. By using XRP it will be possible for the bank to massively reduce costs and offer much better services.
Ripple has also recently partnered with TransferGo in order to offer global real-time payments everywhere. This would allow migrant workers in India to have better remittance services. Indian workers tend to send large portions of their salaries back to their families. With this partnership with Ripple, things will be easier for these individuals. Transfers will be done faster and they will pay lower fees for them.
Finally, Ripple’s partner MoneyGram is also using their services. Ripple plans for 2020 may include new and exciting partnership opportunities with MoneyGram. This includes new XRP corridors and more. This is considering the fact that MoneyGram owns 5% of the global remittance market, Ripple could make the difference there.
Could Ripple Reach New Highs?
Ripple has also been among the top 3 largest cryptocurrencies in the last years after Bitcoin (BTC) and Ethereum (ETH). However, there is still a place for Ripple to move forward. Indeed, it could become the virtual currency used by financial institutions in order to process cross border transfers.
Back in September 2017, David Schwartz released a letter explaining why a higher XRP price would be good for Ripple. He stated that this would provide a greater ability to Ripple to incentivize partners and get more revenue.
On the matter, David Schwartz said:
“More value almost always means more liquidity and trade volume. XRP already has each of the other characteristics needed to be a good intermediary asset, but it will be initially limited by the available liquidity.”David Schwartz, CTO at Ripple
This is very important. Speculation on the price of Ripple will allow banks and financial institutions to have higher liquidity. At the same time, they will easily move larger amounts of funds across borders.
“Bigger transactions require bigger value,” he commented.
Although Ripple can sign new partnerships and expand their services, this is going to have a big impact on XRP. All the things that we mentioned in this article, will certainly have a positive effect on Ripple. At the moment we can just speculate, but if Bitcoin starts a new bull trend, XRP could also reach new highs this year. You can check the current Ripple Price on our website.
RippleNet Could Reach 400 Companies
RippleNet, one of the largest financial networks created by a crypto company could reach a new milestone. As Ripple informed last year, RippleNet reached 300 companies from different countries. These firms are now connected to a worldwide network of companies that have improved systems to send and receive transfers.
As we are moving forward in 2020, Ripple could reach the massive amount of 400 companies linked to RippleNet. This is just the beginning of an expansion of crypto and blockchain services. Financial companies will realize about the benefits related to it.
Furthermore, Ripple could also sign new partnerships with crypto exchanges. These partnerships will help the firm increase the liquidity for its on-demand solution. Moreover, this will also be very helpful to start and open new corridors.
Exchanges would help XRP have liquidity in a wide range of currencies. That means that if there is an illiquid corridor for a bank or financial firm, Ripple can easily solve this issue. Exchanges, Ripple and companies will have to handle these new challenges side by side with regulators.
In this article, we talked about which are Ripple plans for 2020. At the same time, we mentioned how the company is working day after day so as to improve its services. One thing is clear, cryptocurrencies are gaining awareness and Ripple is doing everything that it has to do to be a leader in the space.