Flipside Crypto and the influential business site TheStreet just published new analysis on XRP, the third biggest cryptocurrency by market cap.
The company highlights Ripple’s xRapid and partnership with MoneyGram as two factors behind its “A” rating for the digital asset. The piece judges XRP on four main factors including developer behavior, market maturity, user activity and Flipside’s fundamental crypto asset score.
“Ripple is a growing force across the global financial landscape, establishing inroads to institutional finance while cultivating products in the cryptosphere…
The company is offering conservative institutional clients an on-ramp to the Ripple platform through xCurrent, while also evolving xRapid to offer refuge from the complexities of using foreign-exchange markets to settle transfers. That’s effectively delivering efficiency and cost savings to established market participants.”
Flipside says Ripple’s partnership with MoneyGram helped drive a 7.1% spike in its developer behavior metric, and it’s looking for Ripple to onboard more institutional clients and further increase the fundamental value of the digital asset XRP.
“While Ripple Labs maintains that it no longer has control over the Ripple cryptocurrency, it still owns a substantial portion of the outstanding tokens. The company is also actively developing and promoting adoption of its xRapid solution, which utilizes Ripple cryptocurrency.
As such, it’s likely that the Ripple Labs team will continue striving to ‘onboard’ institutional clients wary of crypto volatility to xCurrent, with a long-term vision of moving these customers to xRapid over time. So, keep an eye out for more high-profile partnerships to emerge from Ripple Labs during the balance of this year.”
This is the second digital asset overview from Flipside Crypto and TheStreet. The two collaborated on a review of Bitcoin earlier this month, giving BTC an “A” rating.