Ripple Is Blamed For Poor XRP Price Performance In 2019
Ripple boost the XRP ecosystem during 2019 and also promoted the adoption of the digital asset.
Ripple and XRP fans have been waiting for a price boost in 2019, but thisd failed to happen.
Brad Garlinghouse explained that prices are not the only thing that matters in the crypto industry. He said that use cases and adoption are more important issues than the price of a certain digital asset.
Ripple is blamed for XRP’s lack of price surge in 2019
It’s been just revealed that the founder of Quantum economics, Mati Greenspan highlights the reasons for which he believes XRP has been struggling so much during 2019 regarding the price.
The crypto’s correlation to BTC dropped a lot in 2019, and this was also highlighted.
Greenspan said that Ripple is to blame for XRP’s price, he blames the company’s routine sales, and these are reportedly what prevented the price from rising.
He also pointed to the fact that the majority of Ripple’s clients are us9ing the company’s messaging software and not the digital asset XRP.
“The two main issues…
Ripple holding a large portion of tokens and selling into the rallies.
Usage of the network does not necessarily require XRP tokens. Banks can use RippleNet without ever touching the token.”
The online publication the Daily Hodl also reported that in its third-quarter XRP Markets Reports, Ripple said it had stopped selling XRP on crypto exchanges altogether.
“In fact, part way through Q3, we decided to pause programmatic sales altogether, and focus our over-the-counter (OTC) sales on a few strategic partners, who are building XRP utility and liquidity in regions that are strategically important to our growing global business, including EMEA and Asia.”
Ripple promotes XRP expansion in Brazil
A few days ago, it’s been revealed that Ripple pushes for a rapid expansion in Brazil.
The company is preparing to announce new Bralizian banking partnerships early next year, says a new report from Reuters.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.