Why the XRP Token Price Isn’t Reflecting Ripple’s Expanding Global Payments Network
This isn’t the first time we are hearing that a token’s price remained untouched so to speak despite the numerous efforts and milestones a company has reached. A good example of this is Tron, where many of its followers have appreciated the team behind the project for the numerous improvements and partnerships formed, however arguing that it made no difference to the TRX token price. A recent Null TX revealed that the same seems to apply to Ripple’s XRP token.
2018 marks a very uninteresting year for the crypto sphere as no interesting trends, let alone trends, were witnessed. This is largely due to Bitcoin’s inability to pick up with added struggles to break free from its resistance level at some point. The current XRP price is about USD$0.44, and according to the post it was forecasted to reach USD$0.50, but the wait continues.
Ripple has been a favorite among several payment providers and even banks across the world. It was recently revealed that personal banking financial solutions provider, NAB and Australian-bank, Westpac have joined Ripple’s global payment’s network. This is not to say that it is not an accomplishment, as the adoption of blockchain technology is evident here!
Despite the lack of gains from XRP, many remain hopeful and continue to seek out a possible term in which bullish signals are evident. On the other hand, we have those who are simply fed up. In particular, a Twitter user, @XrpTheBase replied to a BlockHaven tweet indicating a possible XRP price hike by noting the following:
— Johnny W ⚡️ (@XrpTheBase) October 29, 2018
In the past, Bitcoin Exchange Guide assessed Ripple vs XRP and deemed that it is not necessarily reasonable to expect the price of XRP to rise given Ripple does well because the former is decentralized, and the latter is centralized. In particular, one argument (among others) made was that the latter’s products rarely make use of the XRP token, which was debated as a possible reason why XRP’s prices have not seen an improvement.
Are you still hodling XRP tokens, if so why or why not? Do you think XRP will break free from its resistance level? Let us know in the comments below.