ree years. The company had been developing a solution for financial institutions to securely store digital assets, and was seen as a key factor in allowing bigger investors to enter the crypto market. Citigroup Reconsidering Partnership However, Citigroup is now reportedly reconsidering its partnership with Metaco, which could put a damper on Ripple’s plans. While the details of the partnership are not yet clear, it is believed that Citigroup’s decision could have a negative impact on XRP’s price and market sentiment. XRP’s Price At time of writing, XRP is trading at $0.48 with a fractional decrease in the last 24 hours. This comes amid a larger downtrend in the crypto market, with XRP having lost more than 10% of its value in the past week. Conclusion It

• XRP is facing a period of stagnation due to Citigroup reportedly reconsidering its partnership with a company Ripple bought for $250 million.
• Ripple initially purchased Metaco in May, citing research that suggests blue-chip investors plan to heavily incorporate crypto custody services into their business models within the next three years.
• At time of writing, XRP is trading at $0.48 with a fractional decrease in the last 24 hours.

XRP Stalls As Citigroup Reconsiders Partnership With Company Ripple Bought

XRP has been experiencing a period of stagnation as major bank Citigroup reportedly reconsiders its partnership with Swiss fintech company Metaco, which was acquired by Ripple earlier this year for $250 million.

Ripple’s Acquisition Of Metaco

In May, Ripple announced that it had purchased Metaco, backed by research which suggested that blue-chip investors were planning on incorporating crypto custody services into their business models within the next three years. According to Ripple, “Custody is a key facet of the infrastructure required for enterprise crypto services”. The acquisition would allow clients to custody, issue and settle tokenized assets through Metaco’s tokenization services.

Current Price Performance Of XRP

At time of writing, XRP is trading at $0.48 with a fractional decrease in the last 24 hours since news broke out about Citigroup reconsidering its partnership with Metaco.

Potential Impact Of Reevaluation On XRP

It remains unclear whether or not there is any connection between Citigroup’s review and Ripple Labs’ acquisition of Metaco; however should the bank choose to pull out from its existing deal could have an effect on XRP’s price performance going forward.

Conclusion

Only time will tell how this situation develops and if there will be any impact on XRP; nevertheless it does appear that the asset has stalled as news regarding this reevaluation continues to spread across the industry

ree years. The company had been developing a solution for financial institutions to securely store digital assets, and was seen as a key factor in allowing bigger investors to enter the crypto market.

Citigroup Reconsidering Partnership

However, Citigroup is now reportedly reconsidering its partnership with Metaco, which could put a damper on Ripple’s plans. While the details of the partnership are not yet clear, it is believed that Citigroup’s decision could have a negative impact on XRP’s price and market sentiment.

XRP’s Price

At time of writing, XRP is trading at $0.48 with a fractional decrease in the last 24 hours. This comes amid a larger downtrend in the crypto market, with XRP having lost more than 10% of its value in the past week.