XRPย Rippleย (XRP), the digitalย currency announced by Unitedย States fintech company Ripple, could see substantial price profits if CEO Brad Garlinghouseโs intendย to spend $1 Billion on acquisitions proves successful.
The intendย to spend up to a Billion dollars from the companyโs cash reserves was announced by Garlinghouse in an on-stage interview at the Dubai Fintech Summit pastย week, where the CEO clarifiedย thatย Ripple is ready to grow.
โWe have greaterย than a Billion Unitedย States dollars in cash on our balance sheet, we want to deploy that to grow both organically internally but likewise inorganically through acquisitions,โ Garlinghouse stated from the stage.
The CEO further pointed to Switzerland and the United Arab Emirates (UAE) as countries that are attractive places for Ripple to look for companied to acquire.
โ[โฆ] weโll make acquisitions in markets that are friendly to these technologies [โฆ] You had representation from the UAE, you had representation from Switzerland, these are countries that are supplying the clarity for entrepreneurs to invest and that allows a company like Ripple, that is larger, [to invest],โ he said.
XRPย Rippleย (XRP) price
If Garlinghouseโs strategy proves to be successful and more corporations start using XRPย Rippleย (XRP) for liquidity in cross-border payments, thereย is reason to believe that XRPย Rippleย (XRP) would likewise boost in price.
During the substantial bull market of 2017 and early 2018, XRPย Rippleย (XRP) traded well over the $3 mark as optimism around the tokenโs use case surged.
Nonetheless, the positive sentiment thereafter disappeared, and XRPย Rippleย (XRP) traded as low as $1.15 during the subsequent bear market, before it onceย more hit north of $1.8 in the latest bull market.
If Ripple manages to cement its position as the leading provider of cross-border cryptocurrency payments, prices like those seen in the 2021 bull market could perhaps onceย more be within reach.
UAE a top cryptocurrency jurisdiction
The UAE, and Dubai inย particular, is broadly considered to be amongย the most crypto-friendly jurisdictions today, with the Government there traditionally taking a positive approach to crypto.
The UAEโs boost as a top cryptocurrency jurisdiction has been helped by growing frustration between industry leaders in the Unitedย States that their own country is moving in the wrong direction in terms of cryptocurrency regulation.
Earlier theseย 30ย days, Binanceโs Chief Strategy Officer Patrick Hillman criticized cryptocurrency regulations in the Unitedย States, saying enforcement of cryptocurrency regulations have โbeen very confusing inย theย previous 6 months.โ
Inย theย meantime, Saqr Ereiqat, co- founder of venture-building company Cryptocurrency Oasis, was quoted by the media as saying that the UAE checks all the boxes in terms of countriesโ โregulatory infrastructure, digital infrastructure and its capacity to attract a worldwide pool of talent.โ
โThe UAEโs regulatory framework is more streamlined and business-friendly compared to the complex and fragmented regulatory environment in the US,โ Ereiqat stated at the time.
