How XRP Tips Can Help Ripple’s Virtual Currency Causes Increase its Value Faster
There have been several cryptocurrency tippers released to the market during the last years. One of them is the so-called XRP Tip Bot that was created by Wietse Wind, a recognized Ripple developer. However, could these tipping bots help a virtual currency increase its value?
There are several enthusiasts and traders that believe that XRP could start growing in the near future. This comes after the decision taken by Coinbase to list XRP on its platform and allow customers to exchange it for USD, EUR or Bitcoin (BTC). When Coinbase announced that it was listing XRP, the price of the virtual currency increase just 7% when the market was expecting a larger price increase.
Thus, the community could help XRP price increase in the near future. If Coinbase adding support for the digital asset, which was highly expected by the community, did not help XRP grow, the community will have to play a more active role in order to increase XRP’s value.
There have been several goals achieved by the XRP community during the last months. For example, the XRP Tip Bot was integrated onto the Coil platform managed by the former Ripple CTO, Stefan Thomas. There were thousands of XRP coins donated to the St. Jude Childen’s Research Hospital and XRP were added as a base coin to the Binance exchange.
Specifically, with the Tip Bot, XRP will be increasing its utility, creating awareness and a larger demand for the digital asset. Moreover, users should start tipping others that do not know XRP or do not hold the asset to help the value of the asset to grow.
XRP holders – If you want xrp to go up, start tipping people who do not have it. Use it for tipping and it will go up. Facts.
— CandleBoxAI (@candleboxlaw) February 24, 2019
The XRP community will have to do a lot of work if it wants the digital asset to increase its value in the future. The price of the coin does not necessarily depend on a few exchanges listing it, but more users knowing about it and handling it.
Ripple is also working in order to improve cross-border transactions for financial companies and banks. The main intention is to reduce transaction costs and increase transaction speeds to improve the efficiency of these institutions.
At the time of writing this article, XRP is the third largest digital asset in the market with a market cap of $13 billion. Furthermore, each coin can be purchased for $0.313.