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Reasons Why Ripple's XRP Could Have A Bright Future

Published 06/19/2018, 10:57 PM
Updated 07/09/2023, 06:31 AM

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.

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's 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.
XRP/USD D1 Chart

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 the Santander (MC:SAN) 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.

*This article was originally published here.

Latest comments

What most people miss here is that most clients are not using x-rapid. All other XRP services do not use the XRP token. By being bullish the company so far doesn't mean much for the coin until more companies and banks sign on to use X-rapid. I think this will happen but it's overhyped and conflated in this manic market.
Sitting around waiting for a bankster bailout is not a good investment strategy. Its called corporate welfare !!!
Good Article On XRP , I Sure hope we see some upside soon.
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