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Ripple Launches a $250M Creator Fund to Boost NFT Market

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Ripple announced a $250 million fund to boost its NFT activities during Apex, the XRP Ledger Developer Summit. The new fund is called Creator Fund and focuses on innovations in tokenization, especially in the NFT industry.

Creators, brands, and marketplaces are eligible to receive the fund. Those who explore new use cased for NFT in the Ripple ecosystem can be among the top to receive the fund. Ripple claims to be able to help the industry because of numerous benefits in the XRO Ledger, including speed and cost.

Joining the Movement

There are numerous projects and big blockchain entities planning to enter the NFT industry. They know the potential of this industry, especially for attracting mainstream users to the blockchain world. By offering development tools, marketplaces, and investment funds, they can find more developers and artists for their plans.

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Ripple is the latest to show its ambitious plans by launching a $250 million fund to bolster the NFT movement in the blockchain. The Creator Fund is focused on helping all of the potential actors of the market.

As mentioned above, creators, brands, and marketplaces can receive the fund from Ripple. The company has ambitious plans to help these sectors and grow the community in the Ripple ecosystem, too. The announcement says:

“The Creator Fund can help accelerate this adoption by attracting a broader community of creators to participate in and benefit from NFTs. Digital art and collectibles are only the tip of the NFT iceberg—with the support of the Creator Fund and the power of the XRP Ledger as a premier platform for minting and managing NFTs, creators and developers can continue to explore utility in NFTs through use cases such as asset ownership and interactive experiences that will help bring about this tokenized future.”

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Ripple believes the current state of the NFT industry isn’t optimum. Many creators are worried about entering the market because of technical difficulties, and many developers still have problems with user experiences in blockchains.

XRP Ledger (XRPL) may be able to solve parts of these problems. Ripple will provide financial, creative, and technical support for eligible actors to help them become engaged faster.

The latest fund comes with partnerships that can help new actors move the initial steps faster. Mintable and mintNFT are two NFT marketplaces that will integrate with the XRPL as a result of the latest partnership.

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Ripple believes that XRPL has all of the essential benefits and features to help the NFT industry grow faster. The open-source, decentralized blockchain fully supports tokenization that is the backbone of NFT use-cases.

We should wait and see if artists, developers, and brands join the new plans by Ripple or stick to other blockchains and platforms.

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XRP and Other Top Cryptocurrencies Now Accepted by Croatia’s Largest Supermarket Chain

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Crypto is becoming mainstream in Croatia because of Konzum

Konzum, the largest supermarket chain in Croatia, which was founded all the way back in 1957, has begun accepting cryptocurrencies in its online store, according to a Dec. 1 report by Zagreb-based newspaper 24sata.

The lineup of supported digital currencies includes Ether (ETH), Bitcoin (BTC), XRP, Stellar Lumen (XLM) and Bitcoin Cash (BCH), as well two stablecoins (Tether [USDT] and DAI).

Shoppers are now able to buy groceries, hygiene items, household supplies and other items with the aforementioned cryptocurrencies.

Konzum partnered with Croatian fintech company Electrocoin to use its PayCek system to facilitate crypto payments.

They spent several weeks testing the service before the official rollout in the run-up to Christmas.

Crypto is coming to Konzum’s physical stores

Crypto payments will also gradually become available in Konzum’s physical stores throughout the country.

The company will begin with 60 locations that have self-checkouts. After that, new payment options will be introduced in 630 stores of all sizes throughout Croatia.

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Why Brad Garlinghouse and Ripple (XRP) are Excluded from the US House Full Committee Hearing?

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On December 01, 2021, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced witnesses for the December 8 full Committee hybrid hearing entitled, “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.

Reportedly, “Since becoming Chairwoman of the House Financial Services Committee, Congresswoman Waters has transformed the Committee to focus its agenda on fairness, protecting consumers and investors, which includes accountability of large financial institutions and emerging tech products and services. She has made it a practice to call Committee hearings with CEOs of major financial institutions and companies to hold them accountable.”

The Committee has been a leader in highlighting issues related to cryptocurrency and financial technology:

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US House Committee on Financial Services expressed:  Chairwoman RepMaxineWaters announces Cryptocurrency CEOs to Testify at Full Committee Hearing.

Witness List:  Witness List: Jeremy Allaire, CEO, Circle Pay; Sam Bankman-Fried, CEO, FTX.US; Brian Brooks, CEO, Bitfury Group; Chad Cascarilla, CEO, Paxos Global; Denelle Dixon, CEO, Stellar.Org Development Foundation; Alesia Haas, CEO, Coinbase Inc. and CFO, Coinbase Global Inc.

Denelle Dixon expressed:  Honored to testify at next week’s full committee hearing on digital assets and the future of finance. Thank you to Chairwoman

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Community Reaction:  Where is Brad Garlinghouse Ripple (XRP) this is disappointing that the most compliant abs transparent US based Cryptocurrency is not represented.

No Ripple? What a joke. Don’t think they’ll be involved in innovating the future of finance? Sad.

“Due to COVID-19, all markups and hearings will be in hybrid format. Members and witnesses may participate remotely via Cisco WebEx or participate in-person in room 2128 Rayburn House Office Building.”

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Covid is not the reason why Brad was not called.

Why is Ripple not invited?  Maybe they were invited but due to ongoing legal case they refused or couldn’t participate who knows?

I can just see certain CEOs are trying to bash other crypto instead of standing together.  Crypto Committee hearing without the multibillion Dollar Blockchain Decacorn and Global Player Ripple (XRP)

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The Ones that William be Testifying William be the ones who paid the entry fee.

Ok. So, this is basically a meeting to learn more about stable coins. *Noted.*

So many XRP fans roughed up realizing Stellar is a better protocol. Who will be translating to these dinosaurs.

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Why not invite Ripple? Politicians ruin everything they are involved with.

Other than Sam there is no single big player in this list. Seriously, term limits can’t be here any sooner.

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A recovery rally for Ripple [XRP] may be right around the corner

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XRP just broke away from a month-long downtrend. After dropping below the psychological level of $1-level. However, following the latest rise in the market, XRP climbed surged back to the press time price of $1.09.

Ripple CEO Brad Garlinghouse had revealed making tremendous headway in its legal feud with the United States Securities and Exchange Commission last week. In a recent interview with CNBC, 

“We’re seeing pretty good progress despite a slow-moving judicial process. Clearly, we’re seeing good questions asked by the judge. And I think the judge realizes this is not just about Ripple, this will have broader implications”

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Since its all-time high of $3, XRP has undergone a dramatic decline. But with the Ripple vs SEC heading in a positive direction, things look good for XRP. After a rather dull November, the coming days may be kind to the asset’s price trend. 

XRP’s bearish narrative may flip

A recovery rally for Ripple [XRP] may be right around the corner

XRP has been on a constant decline since the beginning of the year as it fluctuated within the trendlines of a descending parallel channel. As the pattern completed, a much-needed bullish breakout transpired. Subsequently, the asset posted five straight green candles after breaking away. The increase in volatility in the market may support the upward price action.   

Besides, the price candles surged past the 200 daily moving average [Yellow] this week which was another positive development. Even as the 50 DMA [Pink] and the 100 DMA [Blue] continued to hover above the candlesticks, it has so far dodged a potential bearish crossover.

Bulls Defend Despite Being Under Pressure

A recovery rally for Ripple [XRP] may be right around the corner

The technicals look promising even if they aren’t strongly bullish. The switch to the green closing bar of Awesome Oscillator [AO] depicted a bullish momentum. The Chaikin Money Flow [CMF] appeared to be heading above the zero line indicating a steady increase in capital inflow in the coin market. The daily Relative Strength Index [RSI] was also climbing towards the 50-median line in tandem with the rising price as it demonstrated a weakening sell pressure. 

The profit-taking phase may come to an end if the crypto-asset maintains the momentum and breaches the moving averages of 50 and 100 near $1.10. The buyers stepping in may further catalyze the price. The resistance levels to watch out for are $1.15, $1.28, and $1.39. The support levels, on the other hand, are found to be $0.93, $0.87, and $0.715 respectively.

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