Despite numerous examples of financial institutions that introduce Ripple-products and services in the year 2019, has disappointed the associated crypto-currency, XRP investors, to a large extent. Although different interests are clearly interested in the inclusion of positions in the digital currency, the price has fallen in the last 12 months, more than 46 percent.
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Quo vadis, Ripples XRP?
Coin-Update.de reported 2019 times about potentially bullish Ripple News. Important partnerships (such as with MoneyGram, for example), and large acquisitions could delight those who are optimistic for the future of the divisiven digital Assets.
Just today, the Twitter-based, large crypto-transaction-Info-account Whale Alert (@whale_alert) reported that 64.000.000 XRP of the stock exchange were transferred Bithumb in an unknown Wallet. At today’s prices, the total value of the transaction is nearly $ 12.5 million.
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Looking at how the year 2019 for Ripple, so you would think that the corresponding crypto-currency would be to fly high. The XRP price has pulled back the most part of the year. Bitcoin has risen in the last 12 months by nearly 100 percent, XRP, however, to about 46 percent in favor.
The poor rate itself is to blame?
The crypto-market-Analyst and “Quantum Economics”, the founder of Mati Greenspan believes that the poor performance is due to two factors, which are associated with the “Tokenomik” the Coins together.
Talk about making a mountain out of a mole hill. To all the Ripple fanbois: Looks like your argument skills have improved but unfortunately the tokenomics have not yet.
https://t.co/BB0pqMpQoE— Mati Greenspan (not trading advice) (@MatiGreenspan) December 30, 2019
Although Greenspan is both in the case of XRP in Bitcoin is still optimistic overall, he argues: To the poor Performance of Ripples XRP, both the sale pressure of the Ripple itself, as well as the fact would have contributed to the fact that financial institutions need to ever buy XRP to take the services of Ripple in the claim.
Coin Update has been reported more often, that Ripple will dump the stocks, which it has attributed to itself in the creation of XRP on the open market. Since the company still controls a significant number of XRP, seems to be this Trend to be able to in the new year continue.
On the question of the amount of the sales pressure, the Ripple in the coming months on the market, can exercise, writes Greenspan:
“… you have the ability to sell up to 1 billion tokens in a given month. That alone can damage the Psyche of the market, whether they exercise it or not.“
The second factor that limited for Greenspan, the price growth Ripples XRP, is the fact that companies opting for the use of Ripple-services, can also do this without the native crypto-currency of the network. Ripple offers its customers a range of money transfer services – some use XRP, other.
Rppl.info lists the banks that use the network in any way. An overwhelming majority already used xCurrent, a real-time gross settlement system that is not dependent on XRP.
Even the On-Demand liquidity service of the company, was introduced at the beginning of this year, only offers the possibility to use XRP. Greenspan refers to this as “adaptation problems with the network”.