Ripple’s Major Announcement has Helped XRP Gain a Huge Rally

Lately, Ripple has started finding itself in the cryptocurrency news almost every day. Every day on the news, a new headline is being published surrounding the feud Ripple has been having with the US SEC.

Initially, it was the US Securities and Exchange Commission that had started making the headlines. People such as Eleanor Terrett, who has been covering the SEC-Ripple, stated that the SEC was going to reveal some very interesting details in the hearings.

However, it seems that the US SEC wasn’t able to do much with their findings and information on the matter. On the other hand, Ripple is now showing that it has the right kind of information and knowledge to take the lead in the case.

Ripple Goes to Canada

Although the matter between the US SEC and Ripple is still ongoing. Still, Ripple has started making moves indicating it is confident that it will be winning the case against the US SEC.

It may be because of the confidence that Ripple is now making bold decisions surrounding opening up its offices at new sites. Just recently, Ripple announced that it is opening up its office in Canada.

The move suggests that Ripple has now started expanding itself and wants to cover a lot of ground once it is free from the court.

True Motive behind having an Office in Canada

According to the officials at Ripple, the reason behind opening an office at a new location is to have a broader presence. They want to form an engineering hub and for this purpose, they have opened up a new office in Toronto, Canada.

Their agenda is to build a strong blockchain network and for this purpose, they will be hiring up to 50 engineers in the initial run. Their ultimate goal is to keep adding more engineers with exposure to blockchain software.

Ripple officials confirmed that through the course of time, they are planning to add product managers, data scientists, and applied machine learning scientists to their teams.

XPR is Moving Higher

Ripple’s possible winning against the US SEC and its aim for expansion through Canada has built strong confidence among the XRP investors. They have started rallying in favor of XRP forming a strong rally.

According to data, the trading price of XRP on June 19 was $0.33. However, the recent announcements have helped XRP cross the particular mark, pushing it over $0.34, which has formed an even stronger rally.

Now, the trading price of XRP is close to $0.38, and the graph suggests that XRP may continue growing stronger.

If more promising pieces of information keep coming in favor of Ripple, XRP’s price may surge to $0.40, $0.52, and even $0.60.