XRP NEWS TODAY: Amazon + Ripple Partnership Just Got Real! Fair Notice Defense is the key to a win

XRP NEWS TODAY: Amazon + Ripple Partnership Just Got Real! Fair Notice Defense is the key to a win

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Distributed ledger startup Ripple is allegedly working on expanding the utility of its native token, XRP, with the company’s CEO, Brad Garlinghouse, going as far as comparing the firm with e-commerce titans, Amazon.

Meanwhile, investors seem to be growing optimistic as the cross-border remittances tokens sit at a pivotal point on its trend.

Ripple is working tirelessly to improve its image within and without the cryptocurrency community.
Following a dramatic reduction of token sales during Q1 2020, the firm faced backlash for selling roughly $32.6 million XRP to institutional investors in Q2.

The 1,760% increase in sales came after CEO Brad Garlinghouse realized that the distributed ledger startup “would not be profitable or cash flow positive” without selling this altcoin.
Given the amount of notoriety Ripple’s “Q2 2020 XRP Markets Report” generated, Garlinghouse wanted to shift investors’ focus by announcing that its business model would pivot towards expanding the utility of its native token.

He affirmed that the company would aim to support activities far beyond the scope of international remittances, just like Amazon branched out into e-commerce.

Nonetheless, data from Santiment reveals that Ripple’s commitment to creating a working product and continuously polishing its features does not reflect Garlinghouse’s marketing attempts.

Since the beginning of the year, the development activity on the XRP network, as well as the token itself, has been steadily declining, suggesting that few investors are convinced of Ripple’s grand ambitions.

Ripple was also caught editing and removing a list of controversies on Garlinghouse’s Wikipedia profile, adding even more bearish sentiment.

The editor deleted three lines from the page because the disputes were not about Garlinghouse himself: “The first is regarding SWIFT, the second and third are about Ripple Labs,” and the last one was regarding ties to a minor Kansas politician, the editor explained.

Brad Garlinghouse’s page is relatively insignificant, but similar small-scale edits have taken place several times. For instance, Ripple’s Wikipedia page has virtually no discussion of controversies, while the Wikipedia page on Ripple Labs features an extensive controversy section.

The cross-border remittances token recently entered a consolidation phase at a crucial level that has forced the Bollinger bands to squeeze on its 1-day chart.

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