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Ripple
(XRP) records low prices despite Bitcoin (BTC), Ethereum (ETH),
Litecoin (LTC), among others rising since the beginning of the year. Sadly,
efforts of Ripple, the main holder of XRP, are considered the reasons why XRP is
make investors proud.
Having made it clear that he is interested in revolutionizing the banking sector, Ripple strives to woo banks and other financial institutions to use his services. However, Ripple offers a range of products and services, among which xCurrent and xVia do not use XRP. Again, for institutions that use XRP for cash, purchases are made on the over-the-counter market, outside major stock exchanges where prices are set according to supply and demand. But, could we blame the relationship between Ripple and Financial for the low price of the XRP?
As
noted by La_Rippening, an XRP investor:
"Contracts with partners with Ripple prevent them from acquiring XRP in the open market. These partners would not have bought XRP, OTC or on the market at all if Ripple did not use them. They buy in order to use xRapid, and not as a speculative investment. "
XRP price from 2017 to 2019
A quick view of XRP prices from May 2017 to May 30, 2019 reveals a disturbing trend. For example, on May 3, 2017, the price of XRP was 6 cents. Towards the end of this month, the price rose to 27 cents and closed the year 2017 at a price of $ 1.35. Fortunately, the course maintained momentum in 2018, opening the year at $ 2.34 on January 2, 2018. It even peaked at $ 3 on January 5th. Unfortunately, the XRP has lost momentum and has recorded a price between slightly above 40 cents since then.
Financial Top
The institutions have teamed up with Ripple
Low prices were evident despite Ripple's partnerships with notable banks and financial institutions. For example, in February 2018, Ripple and Lian Lian, a payment company in China, entered into a partnership whereby the payment company agreed to use xCurrent, one of Ripple's banking products that avoid the XRP. In 2018, Crédit Agricole, another financial institution, was added to Ripple's list of partners. Crédit Agricole was looking for a way to improve the transfer of funds between France and Switzerland.
In addition, in September 2018, Ripple and the National Retail Bank of Saudi Arabia signed an agreement that the bank will use RippleNet for international payments at attractive and instant prices. The International Monetary Fund (IMF) and Euro Exim Bank also have a thing for Ripple.
XRP investors are
long-term
Interesting,
XRP investors are not ready to believe that the price of XRP will
before enjoying sinking into it. Instead, as an investor tweeted:
"This should give us more confidence in holding XRP in the long run. If the Ripple Company just wanted to get rich and retire in a few days [of] years, they would have asked their partners to buy trade and then, at the price of 10 to 20 dollars, they would have made trillions of dollars. This is an indicator that they are really looking to replace SWIFT; it is not a diet to enrich it quickly then to disappear. If Ripple wanted it, they could have already raised the price of XRP to $ 30, IMHO. But they see the situation as a whole. "
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