“Microsoft of Crypto” Phillip Nunn hails Ripple’s XRP following recent strides
Ripple has become a major player in the fintech world, with its premier blockchain and its independent digital asset XRP. Many have raised concerns that XRP was created only to fund Ripple and inflate its valuation.
Since XRP has come into disrepute, critics within the crypto community have argued that the crypto is worthless. Wealth Chain Capital CEO Phillip Nunn is one such critic.
Nunn, who describes himself as a “blockchain evangelist” has a strong opinion on the third largest cryptocurrency in the market. Nunn has often side-lined XRP, relegating it to merely “payments,” while stating that “Bitcoin is the godfather” of cryptocurrencies.
However, earlier this week, Nunn backtracked and acknowledged that Ripple has been “making some serious moves.” Given the wave of success Ripple is having currently, Nunn even compared the company to tech giant Microsoft.
They will be come the Microsoft of #crypto
— Phillip Nunn ? (@PhillipNunnUK) October 2, 2018
This past week has marked a wave of success for the San Francisco-based blockchain firm. XRP had briefly surpassed Ethereum to take the number two spot on the crypto ladder. Swell 2018, Ripple’s flagship event, recently concluded, which saw major influencers from finance, technology, regulation, and even politics. Among the attendees were former U.S. President Bill Clinton, who gave the keynote speech. Ed Metzger, CTO of Banco Santander’s OnePay FX, Ross Leckow, IMF Deputy General Counsel, and several representatives from central banks attended the event.
During Swell 2018, Ripple launched its cross-border payments platform xRapid, which will be implemented with Banco Santander. The MoneyTap app, another payment platform created by a joint venture between Ripple and Japan’s SBI Holdings, was launched this week, which uses the xCurrent platform.
However, XRP prices have continued to experience volatility, despite Ripple’s evident success. The token started off the week trading at $0.577, after which it fell to a low of $0.517, a 10.38% drop in just over 48 hours. The coin is currently valued at $0.522, as per CoinMarketCap.
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