Ripple (XRP) has been doing fantastic lately, and it managed to rise 100% over the past week after the news that Ripple Labs is launching a brand new product that could help banks speed up their transactions using the digital asset XRP.
XRP’s price could still surge
Now, Ripple could be hit by another price surge after it was revealed that content creators on some of the Internet’s biggest platforms would be able to accept payments or tips in XRP tokens straight via a company that’s called Coil which was founded in 2018 by a former Ripple Labs executive.
XRP is down about 70% from its peak as most significant cryptos readjust after last year’s huge bull run. The Ripple price surged to more than $3 last year, up from just $0.006 it began the year at.
YouTube, Twitch, and Wikipedia are the three large sites that are involved in the Coil trial which will allow content creators on the sites receive XRP donations via Coil’s browser extension app.
Coil will charge users $5 each month for a subscription to its service, and it also plans to open up registration.
Now to start writing interesting content on a regular basis! ?
— Nik Bougalis (@nbougalis) September 17, 2018
Stefan Thomas wants to help save the Internet from ads
Ripple Labs former chief technology officer Stefan Thomas launched Coil earlier this year, and he promised to help save the Internet from ads.
“For decades, people have discussed the potential of micropayments to support content creators that would move us away from the broken ad-supported web,” Thomas wrote in a Medium post.
“Others have created subscription services that bundle content. But micropayments and subscriptions have always been built as closed systems, which fail to capture the huge variety of content on the web.”
More and more crypto enthusiasts are getting excited about XRP’s practical use cases, and Ripple has been teaming up with some of the world’s biggest banks and financial service companies to bring crypto speed and efficiency to the traditional financial systems.