Ripple XRP has managed to avoid the steep declines that have been seen among many cryptocurrencies
over the past few months. This has largely been due to the partnerships that it has signed with banks and other mainstream businesses, which investors believe will increase the visibility of the cryptocurrency among investors. Today, a rumour emerged that a major player in retail is ready to climb onboard. In this article, we’ll consider just what that could mean for Ripple’s value and future.
A Ripple in the cup
The rumour states that Starbucks is poised to begin accepting Ripple
XRP in its stores, possibly via the already very popular Starbucks app. Rumours about Starbucks beginning to accept cryptocurrencies as payment are nothing new. It is probably second only to fellow Seattle company Amazon when it comes to featuring in this kind of story. However, this particular rumour sounds more plausible than most when you stop to consider the partnerships that Ripple has already signed. The backing that it has already received from major financial players makes it far more likely that a major consumer chain like Starbucks would want to become involved. Not only does the existing backing mean that the currency has a good reputation but it also suggests that more consumers will have access to the currency via existing apps and bank accounts.
A rising tide
Starbucks adopting a cryptocurrency could be just the shot in the arm that the cryptocurrency
world needs after a very difficult start to 2018. Whilst it is unlikely to spark an immediate reversal of the losses that have been seen in recent months, there is every chance that it would lead to a reevaluation of the future of cryptocurrencies in general and how they will be used by consumers in the months and years to come.
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