XRP's Surge: Justin Sun Believes It is A Sign that Financial Institutions Will Adopt Blockchain

The crypto trading community is in awe over the performance of XRP in the markets over the last few days. The digital asset started a slow rise to the top at $0.274 on the 17th of Septmber only for it to sprint and edge out Ethereum from the number 2 spot yesterday and according to market capitalization. XRP registered a new peak of $0.769 and an increment of 180% from the $0.274 value. The digital asset is trading at $0.583 as we settle into the weekend.

Justin Sun Believes XRP’s Surge is a Sign of Blockchain Adoption

In a recent tweet, Justin Sun would postulate that the recent surge of XRP in the markets, was due to PNC Bank recognizing Ripple’s protocol. He also added that it was a sign that financial institutions will embrace blockchain. He would go on to state a little known fact that he was once Ripple’s Chief Representative in China a few years back.

His full tweet was as follows:

XRP surge shows PNC Bank’s recognition of the Ripple protocol. With Bill Clinton keynoting Swell 2018, blockchain is going mainstream! As Ripple’s Greater China Chief Rep from 2014-16 and a Ripple shareholder, I’m confident financial institutions will adopt blockchain. #TRON $TRX

Justin Congratulates Ripple and Stefan Thomas

In a brief tweet, Justin Sun had earlier congratulated Ripple and its former CTO Stefan Thomas. He did not go on to elaborate the exact reason why he was congratulating them, but the following could be why:

Coil, a project led by Stefan Thomas, is testing web monetization with Wikipedia and other websites
XRP surging in the markets
Hints that xRapid would go live next month
PNC Bank recognizing the Ripple protocol and its possibilities in the banking industry by simplifying cross border transactions through xCurrent

The full tweet can be found below.