XRP Logo Deal on College Football Field Won't Move Price
Ripple's recent partnership with University of Florida Athletics has put the XRP logo on Ben Hill Griffin Stadium, one of college football's most watched fields. The deal is reportedly worth $5 million a year, making it one of the largest field sponsorships in college football.
The partnership will display the XRP logo on each 25-yard line inside the stadium, as well as on the Gators' website and social media accounts. Ripple will also fund financial and technology education for student-athletes and the wider campus.
While this deal may increase brand awareness for Ripple among millions of football fans, it is unlikely to move the XRP price. The university did not commit to accepting XRP for tickets, merchandise or donations, nor will they hold any cash in XRP. In fact, a recent sponsorship deal with Kansas Jayhawks didn't have an impact on the XRP price.
The XRP price has been influenced by broader market trends, such as the Fed pause and the wider crypto rally. A bank or company would need to start paying people in XRP for the price to move, and clear U.S. rules on which regulator oversees XRP would also be necessary.