Coin Edition -
- Ripple’s ex-director urged the firm to invest in another company.
- The former director advised the FinTech firm to embark on a reinvestment campaign.
- Ripple recently secured new partnerships across different regions.
Former Ripple Director Sean McBride has urged the FinTech firm to acquire another company. In a recent post on X, McBride asked Ripple to activate an investment cycle using the tons of funds it is sitting on. The former director said Ripple should “reinvest, build, and repeat.”
Ripple needs to acquire another company. Spend some of that money instead of sitting on it for no apparent reason. Reinvest, build, repeat.— Sean McBride (@seanmcbride16) June 7, 2024
Ripple recently secured new partnerships across different regions. According to reports, the FinTech behemoth partnered with Santander (UK), CIBC (Canada), Kotak Mahindra Bank (India), and Itaú Unibanco (Brazil) to streamline cross-border transactions.
Meanwhile, the firm’s new partnerships increased user activities on the XRP Ledger. It also led to a surge in transactions compared to the previous year. Following the partnerships, Ripple Chief Technology Officer (CTO) David Schwartz hinted at exploring the potential of integrating decentralized finance protocols with TradFi institutions.
Last Friday, the famous crypto tracking service Whale Alert spotted a significant XRP transaction involving Ripple. The crypto tracker noted the firm moved 150 million XRP coins to an unregistered blockchain wallet. The fiat value of the transaction was about $78.2 million at the time of Whale Alert’s report.
Whale Alert did not state any reason for Ripple to make such a significant transfer. That has left users wondering, especially crypto community members following the case between Ripple and the U.S. Security and Exchange Commission.
Many crypto users are hopeful about a rise in XRP’s value, including McBride, whose recent post suggested he holds a significant amount of the altcoin. According to the former director, he looks forward to XRP realizing its actual value so he can focus on his family and other non-business-related activities.
XRP traded for $0.49418 at the time of writing, according to data from TradingView.
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