This pandemic has inflicting its effects on every financial trade and it is hard for XRP to escape. While it is evidentiary that among all the Digital Currencies XRP is dropping its value to the level which was never witnessed in XRP history. The only way to own XRP is to mine other Cryptocurrency Currencies and convert the mined Cryptocurrency to XRP. One thing which can be safely predicted about XRP is that the price of XRP will increase gradually but if the new investors are assuming that the price of XRP will have a sharp bullish rate than they have to amend their ways because this game is not going to be in this way. XRP is leading the transactional play for its up to mark technology, for bank to bank payment and slight fee on transactions is contributing a lot in XRP business.
The prominent benefit of owning XRP is its fast transactions speed and stability with reduced factors of risks. Apart from the speed other factor which is quite admirable is the transaction cost of XRP which is quite cheap as compare to other Cryptocurrency transactional costs. Still XRP is going well on the price charts as on this day of writing XRP is gaining with +3.90% with the market cap of above $8 Billion.
Ripple Bearish Reasons
The reason behind low performance of XRP in terms of attaining value is it’s lacking in decentralized body. Since all the currencies can be mined and their access is not much complicated contrary to that, the XRP is quite complicated to access and mining of XRP have not been started till yet. The mining of XRP will be started by the end of 2020 according to XRP Developers. Another insecurity behind XRP investment is the investors concern about Ripple shut down which on many pretexts Ripple has assure that Ripple shut down will not affect XRP and XRP can be operated on its own coin establishment. Mostly people consider XRP as Ripple but there is a lot difference between them, Ripple is the name of the company which had made the Cryptocurrency named XRP. Another major reason of XRP gone bearish is that XRP was used for the payments and transactions worldwide and almost 30% of corporate and credit payments are dominant by the XRP, due to this pandemic almost 80% of the payments and transactions are on halt which is affecting the XRP price in market adversely. XRP will be go bullish as soon as this pandemic will slowed down and corporate, banks & credit organizations will resume their transactions in XRP.