Reasons Why Ripple’s XRP Could Have a Bright Future: As the crypto market participants get excited about the slow return of the bulls, let’s talk about one of our all-time favorite cryptocurrencies, Ripple and its token XRP.
The cryptocurrency price has mainly been consolidating between the narrow range of $0.9 and $0.47 since March 2018. But there are reasons for us to believe that Ripple could take over and have a gigantic influence in the market sooner or later.
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With its recent development and partnership in a market of high volatility, its recent progress would only further improve its value. Ripple’s team of finance, technology, and fintech experts has demonstrated their belief that a focus on partnerships and customer acquisition is a vital route for emerging technology companies to get their feet off the ground. Ripple currently has more than 75 clients who actively use the RippleNet.
Furthermore, Ripple goal to cure some of the financial sector’s problems could become more clear to market participants as the company grows. That includes high transaction fees and slow transaction speeds.
Looking at XRP/USD daily chart, the pair remains below the flattening and slightly bearish Ichimoku cloud. It’s still hard to predict the exact timing when the price bottoms out and starts a new uptrend.
However, looking at partnerships like Santander deal, a consortium of 60 Asian banks who are looking into the possibility of developing an application based on Ripple’s technology, and several financial institutions worldwide, we can only say that the near future of this digital coin looks very promising. Before then, we might even see a revisit of the all-time-low and support level around $0.19.
Don’t forget to complete your risk management due-diligence before developing your investment strategy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.