XRP and Ripple might benefit from Twitter’s collaboration with eToro.
According to a CNBC report today, popular social media giant Twitter partnered with the social trading platform eToro. The initiative will allow users to trade various financial instruments on the eToro platform, including cryptocurrencies and stocks.
Under the partnership, Twitter users can view market charts of all eToro-supported assets. The initiative adds to Twitter’s existing cashtag feature, which allows users to view the price information of supported assets from TradingView.
The cashtag feature displays an asset price whenever users add the dollar ($) sign in front of the asset’s ticker.
Interestingly, Twitter’s partnership with eToro offers better features than Cashtag’s, as users can access a wide range of assets.
“With the eToro partnership, Twitter cashtags will be expanded to cover far more instruments and asset classes,” an eToro spokesperson told CNBC.
Furthermore, Twitter users can click on the “view on eToro” button in order to be directed to the social trading platform, where they can buy and sell cryptos and other financial instruments.
Twitter Partnership Might Bode Well for XRP
The move has been applauded by the cryptocurrency community, especially XRP enthusiasts. Members of the XRP community believe the sixth-largest cryptocurrency may likely become a major beneficiary of the partnership between eToro and Twitter based on the healthy relationship eToro co-founder Yoni Assia has with Ripple.
It bears mentioning that Assia is bullish on XRP and has a strong relationship with members of the Ripple team.
The co-founder of eToro was present at Ripple’s Consensus party in 2018. In a 2018 tweet, he shared a short video of popular American Hip Hop artist Snoop entertaining the crowd at the Consensus party.
Ripple consensus 2018 party, @SnoopDogg rapping about $XRP #CryptoRap pic.twitter.com/mSzkR5l5DM
— YoniAssia.eth (@yoniassia) May 16, 2018
Assia has shared several pictures of him with top Ripple execs, where he went to learn more about xRapid, the blockchain company’s cross-border payments product that minimizes liquidity costs.
In January 2019, eToro co-founder met with Ripple’s CEO, Brad Garlinghouse, to learn about xRapid and how he can run a validator.
Catching up with @bgarlinghouse Ceo of @Ripple on xRapid, #XRP and running a network validator at #PFF19 @ParisFinForum @Mor_Assia
Interesting perspective on the important role of banks in the mass adoption of #blockchain / #Crypto pic.twitter.com/HkWbSlg94M
— YoniAssia.eth (@yoniassia) January 29, 2019
Similarly, on March 7, 2019, Assia shared a photo of him hanging out with Ripple’s Chairman and co-founder, Chris Larsen. He disclosed that the meeting was part of his efforts to learn more about xRapid.
Hanging out at @Ripple in SF, learning more about xRapid. Thanks @chrislarsensf $XRP #blockchain pic.twitter.com/D6ZZWRigDp
— YoniAssia.eth (@yoniassia) March 7, 2019
In a recent interview with Thinking Crypto, Assia stated that Ripple is making significant moves to replace the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
He noted that the Silicon Valley tech company aims to achieve this goal using innovative blockchain solutions like xRapid, allowing for faster and cheaper cross-border settlements. Assia added that Ripple has also built a fantastic relationship with several banks since its inception. Per Assia, Ripple’s relationship with XRP could play a major role in boosting XRP’s price in the future.
Here's @eToro founder @yoniassia on @ThinkingCrypto1 pic.twitter.com/RpwbKveThT
— Digital Asset Investor (@digitalassetbuy) April 13, 2023
Meanwhile, it remains to be seen how Assia’s relationship with Ripple will favor XRP more in the company’s recent partnership with Twitter. It is noteworthy that XRP is one of the cryptocurrencies supported on eToro.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.