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Ripple Enters Derivatives Market as the Firm Joins London Stock Exchange and Goldman Sachs at ISDA




Ripple joins the London Stock Exchange and Goldman Sachs at the International Swaps and Derivatives Association as the firm formally enters the derivatives market.

International Swaps and Derivatives Association or otherwise called ISDA, has over 1000 members from 79 countries. The list of ISDA members include, London Stock Exchange, Goldman Sachs, Citi, BofA, Société Générale, and BNY Mellon.

In cooperation with other members ISDA makes policies with regards to the derivatives market. As a new member Ripple will be responsible for developing derivatives policies.

Ripple joining the institution clearly shows that the firm is increasing its presence in traditional financial institutions. Although a blockchain firm, Ripple must collaborate with traditional markets so that they could present effective solutions to critical problems, particularly in the payments sector.

It is notable that Ripple claims that XRP drives its value by solving real world problems.

Currently trading at $0.61, XRP is down 10% over the week. The coin recently saw a sudden rise in its value as the court issued a summary judgement that favoured Ripple. However, the coin is seeing a gradual decline since then. Analysts believe that XRP is resetting for the $1 price mark.

Moreover, Treasury Manager at Wells Fargo, Shannon Thorp, has recely predicted that XRP will trade between $100 and $500 in the coming 4 to 7 months. To make the projection Thorp used the liquidity strength matrix. She also highlighted the impact of Ripple’s legal proceedings on XRP.

On the other hand Ripple recently announced that it is Co-founding Centigrade; an open data platform that reduces the entry barrier for carbon and nature credit developers to enter the market. According to Ripple, Centigrade is a necessary initiative for carbon credit markets.

Gracie Perez is a part of RippleCoinNews team since we started. she holds a degree in Computer Sciences. From 2017, She has pivoted her career towards blockchain technology, with principal interest in writing Cryptocurrency news and different guides. She is also working with different online media outlets.

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