Ripple (XRP) is the Most Celebrity-Hyped Cryptocurrency Token of All Altcoins
Ripple has been in the news for so many advancements and use cases, and it is clear that many celebrities are in favor of the fast and easy transactions. With so much popularity, especially for an altcoin, investors should learn about the history and the current state of the company.
When Ripple was in its biggest of heydays, it solidly held down its $2.73 price tag, which was as recent as January 4th this year. When the cryptocurrency industry took a hit this summer, Ripple went down with it, and it presently is priced at $0.33. The market cap of the company is still way up at $12.93 billion, and much of the media has helped to keep Ripple in its leading role, keeping it the third leading coin in the entire world. With numbers and popularity like this, could the low price be a good enough reason to start trusting Ripple in the crypto race?
To offer a little insight, RBC Capital’s Mark Mahaney decided to speak up in Colorado at the Fortune Brainstorm Tech conference. He has over 20 years of experience with investments, and his history has led him to believe that he knows the best time to step in. He says that the investment is worth it “when companies become verbs, nouns, when they become part of the popular vernacular…” If there is anyone’s advice to follow, it would certainly be that of a top 25 analyst from Wall Street.
Based on years and years in an active financial industry, it has become clear that consumers pay attention to cultural shifts, even if it is a subconscious decision. For instance, the superstition of Friday the 13th seems to cause a dip in the profits of the stock marked on these days. However, the financial industry is much different from the performance of cryptocurrency, so how does it apply?
Ripple has clearly secured the support of celebrities. Madonna has brought attention to it with charitable donations, and Ripple has responded in kind. Recently, Madonna posted that her goal was to submit a massive donation to orphans in Malawi through the use of Ripple. In response, Ripple jumped into action, saying that they would immediately match donations. Eric van Miltenburg, the Senior Vice President of Operations, commented:
“We’re honored to be a part of Raising Malawi’s amazing work with some of the world’s most underserved children and are grateful to our investors at Sound Ventures for making the introduction to us and this important cause.”
Another celebrity that has been seen publicly in support of Ripple is Ashton Kutcher, who used it as a way to donate to a cause on The Ellen Show. Kutcher, along with business partner Guy Oseary, donated a total of $4 million in XRP to her Wildlife Fund on an episode for her birthday, displaying the transaction live on the overhead screen. During the transaction, Kutcher explained:
“Ripple is basically a platform to allow people to transfer money from bank account to bank account, person to person, really securely, really simply, really quickly.”
Snoop Dogg is another celebrity to effortlessly join the Ripple ranks, working as the headliner for an event that was sponsored by Ripple Labs. Former US President Bill Clinton has been booked already for an October conference for Ripple too.
Even apart from the celebrity culture and the obviously impressive performance of their fast transactions, they have managed to solidify deals with American Express and many banking institutions. Due to their availability and performance, Bitcoin Superstore added the XRP token to their list of acceptable payments.
Ripple’s entire mission has been to make cryptocurrency user-friendly and mainstream, and these strides seem to only be the beginning of their journey. They are already reaching into pop culture, and the new plan is for global XRP adoption. To stay up to date on the performance of XRP, take a peek at Coinwatch.com.
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