Ripple’s native token, XRP, is stagnating in price with very little movement on the charts. Investors have mixed feelings about the price drop of nearly 27% in 2018. The market is divided. Ripple is forging partnerships with various global banks and financial entitiesXRP has a negative trend, despite news about the new collaborations.
The development shows that the two are not in sync. Ripple & XRP, although they are both sides of the coin, have two distinct assets. XRP has nothing to do with what Ripple or its fintech partners are doing. The leading altcoin, XRP is therefore caught between the market’s crosshairs and Ripple.
Please Read This: 3 Things That Make XRP Great, And 3 Things That Don’t
What is stopping XRP from gaining value?
Ripple’s native coin is heavily localized now and relies on macroeconomic factors in the wider financial markets. XRP is also reliant on Bitcoin and rarely moves independently. Most altcoins follow Bitcoin and its performance. This altcoin is affected by market movements and requires support from BTC, or Ethereum in order to increase its value. XRP is being held back by its need to take support in order to stay alive.
Bitcoin, which is on the same slippery slope as XRP, will also fluctuate between $77,000 and $65,000 by 2026. Hence, there are less chances for XRP to surge. BTC has been struggling for over a week to stay above $80,000. Due to rising oil prices, and the tensions in Middle East, the $100,000 is not possible at this time. The fear of an abrupt drop in price remains high, as the gray cloud of war hangs over the market.
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Source: watcher.guru
