$1 Billion Company Expansion Plan Boosts XRP Price Predictions

$1 Billion Company Expansion Plan Boosts XRP Price Predictions


Ripple CEO Brad Garlinghouse’s plan to spend $1 billion on acquisitions could lead to massive price gains for XRP cryptocurrency, according to experts, with the UAE and Switzerland being attractive places for Ripple to look for companies to acquire.

XRP Ripple (XRP), the digital currency announced by United States fintech company Ripple, could see substantial price profits if CEO Brad Garlinghouse’s intend to spend $1 Billion on acquisitions proves successful.

The intend to spend up to a Billion dollars from the company’s cash reserves was announced by Garlinghouse in an on-stage interview at the Dubai Fintech Summit past week, where the CEO clarified that  Ripple is ready to grow.

“We have greater than a Billion United States dollars in cash on our balance sheet, we want to deploy that to grow both organically internally but likewise inorganically through acquisitions,” 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.

“[…] we’ll make acquisitions in markets that are friendly to these technologies […] 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],” he said.

XRP Ripple (XRP) price

If Garlinghouse’s strategy proves to be successful and more corporations start using XRP Ripple (XRP) for liquidity in cross-border payments, there is reason to believe that XRP Ripple (XRP) would likewise boost in price.

During the substantial bull market of 2017 and early 2018, XRP Ripple (XRP) traded well over the $3 mark as optimism around the token’s use case surged.

Nonetheless, the positive sentiment thereafter disappeared, and XRP Ripple (XRP) traded as low as $1.15 during the subsequent bear market, before it once 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 once more be within reach.

$1 Billion Company Expansion Plan Boosts XRP Price Predictions
Longstanding chart of XRP Ripple (XRP). Source: CoinGecko

UAE a top cryptocurrency jurisdiction

The UAE, and Dubai in particular, is broadly considered to be among the most crypto-friendly jurisdictions today, with the Government there traditionally taking a positive approach to crypto.

The UAE’s boost as a top cryptocurrency jurisdiction has been helped by growing frustration between industry leaders in the United States that their own country is moving in the wrong direction in terms of cryptocurrency regulation.

Earlier these 30 days, Binance’s Chief Strategy Officer Patrick Hillman criticized cryptocurrency regulations in the United States, saying enforcement of cryptocurrency regulations have “been very confusing in the previous 6 months.”

In the 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 countries’ “regulatory infrastructure, digital infrastructure and its capacity to attract a worldwide pool of talent.”

“The UAE’s regulatory framework is more streamlined and business-friendly compared to the complex and fragmented regulatory environment in the US,” Ereiqat stated at the time.



Source

Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.
READ NOW
Binance Considers Bank Collateral Option to Reduce Risk Amidst FTX Fallout




Follow us

Latest Crypto News

Share via
Share via
Send this to a friend