- Cardano and Ripple hint at proposed collaboration.
- The collaboration will integrate DeFi components on XRP.
- Analysts expect the Cardano-Ripple partnership to boost cryptocurrencies’ value.
Cardano and Ripple have teased plans for a partnership to integrate DeFi components on XRP. The collaboration aims to increase liquidity and add a stablecoin layer to XRP. In a recent AMA session, highlighted in a podcast by a crypto analyst, Cardano founder Charles Hoskinson suggested creating a path for Midnight, Cardano’s newly released update, to function on XRP.
Hoskinson noted that Cardano and Ripple are in advanced talks to finalize the partnership. He mentioned direct discussions with Ripple CTO David Schwartz, with both teams collaborating on ways to make the project successful.
Crypto analysts believe this proposed partnership could strengthen both blockchains’ ecosystems and positively impact their associated cryptocurrencies. Notably, ADA surged by 160% since November 5, while XRP gained 153% during the same period, reflecting a bullish market trend following Donald Trump’s election victory.
Relatedly, the cited podcast also highlighted the U.S. government’s inclination to pursue its Strategic Bitcoin Reserve plans under the incoming administration. The podcast’s analyst cited reports of Trump being in talks to buy a crypto trading platform, Bakkt-FT, via his social media company.
Read also: Cardano and Ripple Collaboration? Hoskinson and Schwartz Discuss Midnight
Meanwhile, more mainstream developments involving the incoming president emerged, leading crypto users to express optimism about the technology’s future. For instance, reports have emerged about Trump’s plans to meet privately with Coinbase CEO Brian Armstrong to discuss potential appointments in the incoming administration.
The incoming president’s actions align with his long-term disposition toward crypto and his promises during the last campaign, where he committed to supporting the crypto industry and establishing the U.S. as a leading nation on crypto-related matters.
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