2018-10-7 20:48 |
There has been a great public sentiment towards Ripple’s native token XRP, and many are of the believe that its good times has arrived seeing that the Swell 2018 conference and the announcement of launch of the XRapid product has gained a lot of attention from major players within the online payment industry.
Irrespective of this successes, I still believe that some reservations should be made by investors, even though that this news made XRP to be the best cryptocurrency of the month of September 2018.
The reasons for my believe are:
1) History always repeat itself: some that are new within the cryptocurrency sphere might not be aware that XRP rose to an all time high value of $3.84 around mid Jan this year after the bubble, before reducing in price by more than 1000%. Although, it is presently regaining some of it’s lost value.
2) It has strong competitors: one would have said that XRP could have been improving with the addition of this new products, but it’s Strong competitor like Stellar lumen (XLM) which was Created by the Stellar Foundation is also improving in its update. Recently, the Stellar foundation just launched its decentralized exchange StellarX.
The improvement in the price of XLM has a long way to affect the expectations of XRP investors since both Foundations have a common mission of been used as the best payment platforms and help the unbanked people in the world.
3) Traders sentiments could swing: that is one of the reasons for the high volatility of the crypto market. Although, the public sentiment towards XRP is good presently which has made it’s recent gain to be a bit stable.
However, this could swing and eventually lead in reduction of trading volume and also decrease in price, hence investors could encounter great loss for the hype in market price of XRP.
The post Is The Ripple [XRP] Coin An Over Hyped Market? appeared first on ZyCrypto.
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