A long time Ripple fan and investor, says he is concerned about the future of the XRP price and its position on the crypto market. In our Ripple price news, we are reading further about his concerns and what he thinks will happen.
His post on Reddit entitled ‘’Long-Term holder losing confidence’’ reached the top of the Reddit posts and the Ripple fan is worried about the XRP adoption among the major financial institutions and whether Ripple’s payment product called On-Demand Liquidity will boost the price of the asset. He said that the Ripple executives including Brad Garlinghouse stated that a huge number of banks will utilize XRP which is not helping the asset:
“Garlinghouse and Schwartz mentioned dozens of banks would be using XRP, Ripple would be working with major household names, but two years have passed and very little has been made public… Perhaps the developments continue to happen behind the screens, but so far the use case/ODL have not had any positive impact on price and XRP continues to move along with BTC.”
The Ripple fan says he first purchased XRP back in 2017 and that he will not sell them:
“Ripple has publicly stated (XRP 2019 Q4 Markets Report) that they will be introducing a new market in Latin American, Asia-Pacific, and Europe in 2020… Crypto holders have been waaaayyyy out in front of their skiis for several years now. Being frank, XRP is the only asset that is delivering on its use case in Production on any scale today.”
Ripple raised more than $200 million in the Series C funding in December and the funds were aimed to grow the XRP-based remittance platform. The funds should also boost the development of the ledger and to better serve the customers. XRP is outperforming the traditional markets in 2020 as it started the year at $0.1936 and increased to $0.3372 during the bull run in February but soon returned to the January levels. The digital asset is now trading at $0.1938 according to the Ripple price charts that we have today.
In the past few sessions, the Ripple price followed a bullish path above $0.1850, similar to Bitcoin (BTC) and Ether (ETH). The Ripple price is preparing for a new rally after gaining bullish momentum and being able to clear the key $0.1900 and $0.1920 resistance levels.
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