TRON boss believes XRP surge is a sign that financial institutions will adopt it

The CEO of Tron has shared his view that Ripple has a very bright future ahead of it…

by Manoj Sharma for CNR

The performance of XRP over the last week has made quite a buzz in the crypto community. The digital asset started a slow rise to the top at $0.0274 on September 17. On 21st September, XRP edged out Ethereum from the number 2 position (second to Bitcoin, as you might expect) according to market capitalisation.

But now, in the past few days, XRP registered an increment of 180% from the $0.0274 value and has reached a new peak of $0.769. The digital asset is trading at $0.56 at the time of this piece being written.

Justin Sun, the CEO of TRON, argued in a recent tweet that the recent surge of XRP in the market was due to the PNC Bank recognising the protocol of Ripple.

He added that it was a sign that financial institutions will embrace the idea of blockchain technology in the near future (as many have already begun to do). He also stated a little-known fact that he was once the Chief Representative of Ripple a few years back in China.

In a brief tweet, Justin also congratulated Ripple and its former CTO, Stefan Thomas.

As for the reasons behind Sun’s beliefs? He didn’t expand on that this time, but it’s not hard to put together some theories. The obvious one is XRP hitting an all-time high. But also the news that Coil, a project led by Stefan Thomas, is testing web monetisation with Wikipedia. And then the aforementioned PNC Bank recognising the protocol of Ripple and its endless possibilities.

Image: BigStock