Ripple has been making huge efforts to continue with its projects and developments despite the global issues triggered by the coronavirus pandemic.

Ripple has also been working to boost the whole XRP ecosystem and promote the mainstream adoption of XRP, and the successful deals continue to pour in.

Anchorage adds support for XRP

The US-based crypto custody provider Anchorage just added support for XRP.

This latest move gives institutional investors who have an essential role in crypto a secure way to store XRP. Institutional investors are a key ingredient for mainstream crypto adoption.

The mass adoption of digital assets was one of the main goals that the crypto industry set back in 2019, and it remains the same this year as well.

Institutional money is extremely important because it can obviously boost crypto adoption.

Growing institutional ecosystem around XRP

Anchorage co-founder and president, Diogo Mónica,  recently stated that the new addition is part of a growing institutional ecosystem around XRP.

“XRP is the third-largest digital asset by market cap, and there’s an ecosystem of institutions that hold XRP and want a more secure and usable institutional custody solution…” she said.

She continued and explained, “Our support for XRP relied on a range of resources, including ones contributed to and maintained by the team at Xpring, Ripple’s developer platform. We used the rippled open-source server, the node implementation that powers the XRP Ledger maintained by Xpring.”

We recommend that you check out the complete post on Medium in order to learn what more she had to address.

Anchorage is now supporting 22 crypto assets on its platform.

Regarding the price of XRP these days, the crypto is currently trading in the red just like the king crypto and more other digital assets.

At the moment of writing this article, XRP is priced at $0.179775.The coin seems to have found support above $0.17.

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