Central Bank Official Says XRP Has No Potential Amid XRP’s Poor Performance Over The Last Few Weeks, Is XRP Dead?

Ripple joins Blockchain Capital VC Fund with XRP investment worth $25 million price

Is XRP dead? This has become one of the most popular questions in the cryptocurrency space along with others like ‘is XRP a security’, ‘why is XRP falling’, ‘will XRP recover’? People are asking questions like these because the current XRP price action is discouraging. For almost one month, the price of XRP was stuck in a descending trendline. Even when the price of Bitcoin and altcoins was surging against the USD, XRP was reporting little to gains. The XRP price prediction 2019 which was initially bullish suddenly became bearish. Now, an official from Singapore’s MAS, a central bank, has said that they do not see any potential in XRP. Is XRP dead?

XRP Price Prediction 2019 – XRP News Today – XRP Has No Potential According To Central Bank – Is XRP Dead?

Ripple is one of the FinTech companies that intend to revolutionize the traditional financial world. As Brad Garlinghouse has said several times, Ripple intends to take over from SWIFT, the traditional cross-border remittance facilitator that has been in existence for more than 43 years. So far, the technology has proven more efficient than SWIFT’s technology. In collaboration with Canada, Singapore’s MAS launched a platform for payments and completed its first transaction yesterday.

The speed and efficiency of this platform along with the poor performance of XRP moved an official at the FinTech, Sopnendu Mohanty to make this comment;

“We don’t see much in the Ripple bank digital currency, but still much hope that we can remove a lot of inefficiencies […] when it comes to cross-border payments.”

If other executives feel the same way, XRP and Ripple may have difficulty dominating the traditional cross-border payment sector. Banks are already starting to create their own internal settlement systems to serve the same functions as XRP. RippleNet has a group of over 200 financial institutions but most of these institutions are using xCurrent which doesn’t require the XRP token.

XRP Prediction 2019 – XRP News Today – XRP/USD Price Prediction 2019 – XRP Is Underperforming The Market

Right now, XRP is the worst performer among the top five coins. Out of the top 100, the only coin that is doing worse than XRP is Tether (USDT). Yesterday, while other cryptocurrencies where recording significant gains against the USD, XRP was only able to rise by 1.3% against the USD. While the XRP token is bullish long-term, the short-term trend is bearish. It is important that the price of XRP shows some promise short-term so that every digital asset investor on the XRP rich list would be comfortable about their investments and would not start selling off.

At the time of writing, the price of XRP was $0.303383. It is down by 1.53% against the USD and up by 0.04% against the price of BTC. The trading volume over a 24 hour period is $1,106,591,104 and the market capitalization is $12,768,486,196. Before the end of the weekend, the price of XRP may fall below the support at $0.3000 again as it did during the week. The last thing the XRP prediction 2019 needs is more negative comments from industry leaders.

What do you think about the XRP prediction 2019 in today’s XRP news? Is XRP dead? Will the negative comments affect the XRP price prediction 2019? Share your thoughts in the comment section below.

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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