XRP Will Achieve Mainstream Growth Even With The Decentralized Nature Of BTC According To Phillip Nunn


The year 2018 is over but the crypto winter is still on. The prices of BTC, ETH, XRP and many other top cryptocurrencies are still highly volatile in a downward slope. There was no new year bullish rally. Instead, the price of cryptocurrencies were in red during the new year. As the bears continue to dominate the market, analysts and investors are placing their bets on Bitcoin, the leading cryptocurrency per market capitalization. However, cryptocurrency analyst, Phillip Nunn is placing his bet on XRP despite the decentralized nature of BTC. On Twitter, he posted his opinion:

“Bitcoin (BTC) in its purest form is more decentralized than XRP. However, only one country controls a majority of Bitcoin mining/supply and can decide to wrap it up. This is why XRP is a better bet for mainstream growth.”


XRP Is Better Than BTC


Phillip Nunn is the CEO of Blackmore Group and he strongly believes that XRP has a better chance for mainstream growth than BTC. He said that the main issue with BTC is that its supply is mainly in the hands of Chinese-based centralized mining pools. Even if few firms handle XRP, it is more flexible than BTC and this is why it is already being adopted by many banks and financial institutions.


XRP (XRP) Price Today – XRP / USD
#NamePrice24H %
3
ripple
XRP(XRP)
$0.271
-6.37%


Phillip Nunn isn’t the only analyst to share this notion about BTC and XRP. In October 2018, the chief marketing strategist of Ripple, Cory Johnson, said that XRP is the same as BTC but it isn’t controlled by Chinese miners. In Johnson’s words:

“The XRP technology is like Bitcoin 2.0. It’s a faster version of Bitcoin that doesn’t require tons of power and is not controlled mainly by Chinese miners. XRP is fundamentally a digital asset based on blockchain technology that is principally used to transfer value.”


The mainstream adoption of XRP by international fintech players is due to XRP’s unique features. XRP is faster and cheaper than Bitcoin. It is a more efficient tool for communication between banks. Also, major cryptocurrency exchanges are beginning to see the value of adding XRP to their lists of tradable coins. Many cryptocurrency trading platforms including BiTrue and Binance have added XRP as a base currency. For the first time, Canadian-based CCX exchange and Lykke exchange paired XRP with fiat. The token has made major strides across the industry and it is still making progress.


XRP (XRP) Price Analysis


At the time of writing, XRP was trading at $0.361142. This shows that it is up by 1.77% against the USD and down by 0.26% against BTC. Over a 24 hour period, the trading volume is $426,723,606 and the market capitalization is $14,732,477,628. There is a strong resistance at $0.38 and a strong support at $0.35. If XRP breaks above the $0.38 resistance, it will test the $0.40 level again. If it falls below the $0.35 support, it will retest the $0.32 level and move lower against the USD. The next few days of trading will determine if the price action will change or not.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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