The cryptocurrency market has always been prone to price fluctuations, and many of those involved in investing in digital assets have probably thought that the market recovery we have experienced recently is merely a phase. However, this has not been the case, and cryptocurrencies are still holding strong, despite all odds.
In other words, the recovery in price not only proves that the market is not dying, but that it could soon thrive once again. This is particularly true when considering the rumours that Ripple might soon be partnering up with Amazon, and there multiple things to be excited about with regards to this deal.
Of course, none of this should come as much of a surprise, mainly since Ripple has been promoting its technology via different avenues, including through traditional banking institutions and high-profile firms. At the same time, companies we wouldn’t expect, such as American Express, MasterCard, and Santander, have also displayed an interest in Ripple’s solutions.
The Ripple and Amazon Connection
With regards to Ripple and Amazon, this partnership had been hinted at since late last year, and the main idea behind this possible deal concerns the efficiency and reliability of the XRP currency during transactions. Not only does XRP have an incredibly fast transaction speed, but also lower charges per transaction as well.
The combination of these factors is what makes Ripple’s solutions attractive to a retail giant such as Amazon. Plus, we could consider that Amazon is trying to move with the tide instead of against it, and considering the integration of digital assets into various industries, each day without them is a missed revenue opportunity.
Maybe soon we will also experience, first-hand, Ripple as a new payment method for all the Amazon products offered online; but, we’re still at the speculation level at the moment. Nonetheless, this news does point to an openness towards cryptos, something we hadn’t seen before. Not only are virtual currencies more widely accepted, but also applied to multiple financial institutions –with Ripple often taking the spotlight.
At the moment Ripple is currently the third top cryptocurrency in terms of market capitalisation, and there is more to XRP than meets the eye. Despite Bitcoin remaining the king of cryptos, Ripple offers faster transactions at a fraction of the price, which makes it, at least in the long run, the smarter solution. And we might not be the only ones thinking this, a fact which is backed up by the multiple high-profile businesses choosing to partner with Ripple over others.