TRON’s Justin Sun “confident” banks will adopt blockchain as XRP continues rally

TRON’s Justin Sun “confident” banks will adopt blockchain as XRP continues rally 23783
Jessica Kuruthukulangara
Sep 22, 2018 at 3:17 PM

A meteoric surge in XRP’s value has definitely brought cheer to crypto investors, even as other major altcoins battle selling pressures. TRON [TRX] CEO Justin Sun joined in the celebration, and said he was confident that financial firms will adopt blockchain on account of the success of Ripple – the main driver behind the surge in XRP prices.

Sun even mentioned that blockchain was going mainstream since Bill Clinton will be the keynote speaker at Ripple’s Swell conference.

The former president of the United States will not only give the keynote address, but will also participate in a question and answer session at the conference, scheduled to take place in San Francisco over the first two days of October.

Sun had earlier joined Ripple as its first employee at that Greater China area, according to his LinkedIn profile. He served as Ripple Labs' chief representative in Greater China, special representative and advisor since 2014.

He later went on to set up the TRON Foundation, but has remained a Ripple shareholder, going by his tweet.

XRP on a four-day gaining streak

XRP is continuing its winning run, with the coin surging 21.2 percent against the U.S. dollar to trade at $0.56 at the time of writing. In the last seven days alone, the virtual currency has seen its value more than double while the token gained over 75 percent in the last month.

The altcoin had managed to unseat Ethereum [ETH] from its position as the second most valuable cryptocurrency in the world on Friday, but has since slipped back to the third spot.

The crypto has already hit its highest levels since March, and going by its current upward trajectory, it could potentially mark new milestones.

At present, the virtual token has a market cap of $22.53 billion, while Ethereum has a total market value of $24.17 billion.

Ripple signs up more banking clients

Ripple, the software firm behind the digital asset XRP, has increasingly worked with banks and large financial institutions in the cross-border payments space.

Most recently, the company added PNC Bank to its enterprise blockchain network – RippleNet. The bank is currently the ninth largest lender in the United States, in terms of assets.

RippleNet is a decentralized network of banks and payment providers, which offers a smoother way to send money globally, with on-demand liquidity and end-to-end tracking on blockchain.

Soon, the company will launch its liquidity support solution called xRapid, which is being tested by many established financial players, including MoneyGram and Western Union.

See also:

Ripple’s XRP adds $2 billion to its market cap in just a day

OKCoin lists 5 coins including Ripple’s XRP

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