Ripple Eyes Retreat After Record Price Highs

The digital currency has rallied to overtake Ethereum as the No.2 digital currency by market cap while XRP has been criticized for its fair-weather and sometimes opaque way of talking about the token.

Threeoftheworld’stopfivemoneytransfercompanieswillintegrateRipple’sXRPtokenintotheirpaymentflowsystemsthisyear,thecompanyannouncedinatweetonThursday.Thetweet,whichdidnotdisclosetheidentitiesofthepartners,comesasXRPhassurgedtobecometheno.2cryptocurrencybymarketcapitalization,overtakingethereum.However,Ripplehasfacedcriticismforitsoften-fairweatherandopaquewayofdiscussingthetoken.PartofthecriticismstemsfromthefactthatRipplehassignedupover100financialinstitutionstouseitsxCurrentproduct,amessagingplatformthatdoesnotinvolveXRP,andmanynewinvestorsmistookthatforthoseinstitutionssupportingXRP.PriortoThursday,onlyonecompany–MexicanfinancialservicesfirmCuallix–hadannounceditsuseofXRPforcross-bordermoneytransfers.Butthecompanytweet,andcommentstoCoinDeskfromAsheeshBirla,vicepresidentofproductatRipple,earlierthisweek,suggestthatmorewillbeaddedthisyear.InanothertweetlateThursday,RippleCEOBradGarlinghouserespondedtoaNewYorkTimesarticlecastingdoubtonXRP’susagebysharingcommentshesaidwerefrombanksandpaymentproviderswhotestedorexaminedthecryptocurrency.ReferencingRipple’sxRapidproduct,whichaddsXRPontopofthecompany'sxCurrentmessagingplatform,Garlinghousewrote:"Overthelastfewmonths,I’vespokenwithactualbanksandpaymentproviders.TheyareindeedplanningtousexRapid(ourXRPliquidityproduct)inaseriousway."Despiteitsrecentrallytonearly$4percoin,XRPisdownontheday,followingastatementbyCoinbasethatitdoesnothaveplans,atthistime,tolistthecryptocurrency(oranyothernewones)oneitheritsflagshipexchangeoritsGDAXplatform.BradGarlinghouseimageviaWikimedia/ChristopherMichel

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