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An online petition to make Ripple (XRP) the official cryptocurrency for the Tokyo Olympics in 2020 has started circling. Around 9,200 people out of 10,000 have already signed it.

XRP Proposed for Official Olympic Cryptocurrency

A petition to make Ripple Lab’s XRP the official cryptocurrency of the Tokyo Olympics in 2020 has managed to get notable attention, acquiring over 9,000 signs out of the requested 10,000.

According to the circular, there are plenty of challenges that local authorities face when hosting a world-class event of a scale as large as this.

As tourists stream into the country, demand for the local currency skyrockets, causing long lines at currency exchanges, as seen at past events like Beijing 2008 and Rio de Janeiro 2016. Confusing exchange rates and language barriers further complicate the problem. – Reads the petition.

According to it, the fast transaction time, as well as the security of XRP,  could solve the aforementioned issues.

XRP’s Wild 30-Day Run

XRP has been one of the top performers for the last 30 days, marking an increase of around 70 percent. This time last month on September 8 XRP traded at around $0.29 and was going stable for a couple of weeks until September 20.

At that point, XRP doubled up in less than 24 hours following the news that its xRapid product is going to go live within “the next month.” More impressively, the cryptocurrency managed to unseat the Ethereum and, for a brief period of time, became the second largest digital currency.

On October 2, Live Bitcoin News reported that Ripple had launched its xRapid product and that 3 financial companies are already using XRP for real payments. At the time, however, the price failed to react. Nevertheless, XRP managed to retain a lot of the gains made during its short rally and is currently trading at $0.48.

What do you think of XRP becoming an official cryptocurrency for the Tokyo Olympics in 2020? Let us know in the comments below!

Images courtesy of CoinMarketCap and ShutterStock

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