Goldman Sachs Joins Wells Fargo in Acknowledging XRP as a Digital Currency

2020, a dark year for the XRP community. SEC had just filed a lawsuit against ripple claiming it illegally acquired over 1.3 billion as security. Despite this, the cryptocurrency retained its authority in the top ten over the year. 2022 looks like the victory year for XRP as it marks the year that the magistrate judge granted Ripple victory.

Earlier this year, Wells Fargo announced it was going to consider XRP as a safe digital way to hold value. This was received very positively and to add some icing to the news, Goldman Sachs has joined the party. This happened the same time Circle was recognized and Goldman Sachs referred to CIrcle and XRP as an “opportunity in payments”. Circle unlike XRP is a peer-to-peer payment technology.

As reported by u today, the report by the investment banking division that is in charge of overviewing the digital assets and blockchain considered “RippleNet, a network of institutional payment providers like banks and money remittance services that use solutions built by Ripple.”

In the last month, whales have moved over 2 billion from unknown wallets to major exchanges. You can read more on this here.

XRP market place

Just like the general crypto market at large, XRP is also green. probably more than others on the top ten. even though the coin has been surpassed by Cardano recently, this has more to do with the success of Cardano and not the failure of the coin. at the time of press, the majority of the coins are green in the last 10 days but only XRP is green on the last day.

The coin is priced at $0.3795 and is looking steeply to be exploring for higher levels. The recent endorsement by the above entities coin is the main reason for the placement and the entire crypto market wave at large.

About two days ago the coin had hit highs of $0.3904 for the week.

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