Ripple says it is looking for individuals passionate about Web3

Ripple continues to set its sights on Web3 development. In a recent tweet, Ripple says it is looking for individuals passionate about Web3 to join its team. It should be recalled that at the start of September, San Francisco-based design consultancy firm btrax announced a partnership with Ripple.

Ripple to Advance Web3 Development

Both parties will work together to create a Web3 design lab based on XRP Ledger as part of the agreement. The new service is meant to aid Japanese businesses in accelerating the growth of their Web3 businesses. The initiative centers on fostering the development of Web3 and teaching Japanese businesses the use cases related to it.

In August, Ripple welcomed Fukuoka City Mayor Soichiro to the Ripple headquarters. Fukuoka is a leading city for Web3 initiatives in Japan. Ripple’s VP of Corporate Strategy and Operations, Emi Yoshikawa, tweeted about having high hopes for Fukuoka City, which is actively working on Web3.

A few months back, Ripple opened its first office in Canada, which will serve as the company’s “key engineering hub.” Ripple expressed its intention to go on a hiring spree in Toronto, aiming to hire “hundreds” of blockchain software engineers in the long run.

Ripple CEO Brad Garlinghouse said that the company would continue hiring, in contrast to other major cryptocurrency players that have slashed their workforce. Ripple says it will be able to increase the number of employees even during the bear market after securing a “significant” cash balance. The slew of developments come amid the Ripple-SEC lawsuit, which has dragged on for almost two years, and most expect a resolution by 2023.

The most recent success of XRP in the court did not last as long as some investors hoped, and the cryptocurrency is rapidly losing around 6% of its value in the last few hours, showing that bulls are losing control over the asset on the market. Has the top been reached? Our previous market review highlighted the importance of the 200-day moving average, which acts as a barrier for assets moving in the downtrend. XRP bulls had no choice but to push the asset price further to avoid an even lower plunge. Unfortunately, the lack of trading volume and gradual decrease in inflows led to the 18% reversal from the local high of $0.56. If bulls cannot hold the asset’s value above the aforementioned moving average, we will most likely see the return to the downtrend the asset has been in for a year.


XRP/USD 4-hour chart | Source: TradingView

The asset looks more positive on shorter-term timeframes as it broke through important local resistance levels. However, with the price performance of the asset showing a worsening tendency, XRP will fall below support levels on shorter timeframes.

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