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Why Ripple[XRP] has not had a good year in spite of the evolving XRPArmy and adoption?

Ripple[XRP] is the third-most valued cryptocurrency across the globe. It has been recognized by various banks, (most recently, Falcone Private Bank) and has had big partnerships like Moneygram.

Ripple also has the tendency of hiring the best and the most seasoned players to be part of their team. However, the altcoin which uses distributed ledger technology in place of blockchain has been an underperformer during 2019.

The price of XRP is $0.331839 after it plummetted by 15.83%. The trading volume recorded is $2.392 billion. The supply consists of 42,566,596,173 XRP tokens for now. The total market capitalization for Ripple is $14.125 billion.

Marjan Delatinne, the leader of Global Banking said that Ripple must work together with SWIFT and the others instead of competing with them. This would lead to a friendlier environment for blockchain technology as a whole.

On the other hand, the centralization of one of the most popular coins in the market is a big concern. No matter how many choose to go with Ripple[XRP] for cross-border payments and employ their services such as xRapid and xCurrent, one must not forget that the majority of the tokens are still regulated by Brad and his buddies at the board.

All eyes rest on Christine Lagarde who was the Managing Director of the IMF. She has spoken of cryptocurrencies being crucial in the future and has also highlighted the benefits of Ripple.

The European Central Bank is known for its hostile outlook towards Bitcoin. However, the transfer of power from Mario Draghi to Christine Lagarde is exactly what the market needs.

XRP had reached $0.40 briefly a few days back. Although, now it seems that the price may reach below $0.30. Some analysts have speculated that Ripple[XRP] may reach $50 or even more in the coming years. But I would say that is a pretty harsh road for Brad Garlinghouse to climb.

The price of XRP may show signs of recovery if BTC bounces back in the green zone.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.