XRP, like most coins in the crypto market, has been hit by a bearish trend for a few days now. The token has lost 10% of its value in the past 4 days and is still in a bearish trend. However, XRP price has successfully held above the $0.3 psychological resistance level.
The parent company, Ripple has played an active role in promoting mass adoption of XRP. It has done so through several strategic partnerships such as the recent MoneyGram deal. Still, XRP price has failed to live up to expectations. Can XRP still cross $1 before the end of 2019?
XRP (XRP) Price Today – XRP / USD
XRP Price Prediction: XRP to USD Price Comparison Over the Past Few Days
Within a 5-day period, XRP price has fluctuated but hasn’t dropped below the $0.3. the lowest price seen for XRP on was $0.31165 on July 19. The price of the token rose by rough 9% and was trading at $0.34022 on July 20. This price was not sustained on July 23 as XRP price dropped drastically by up to 10%. At this time, the token was trading at $0.30608. yesterday, the price picked up again and rose by 3.28% while trading at $0.31611. XRP price has lost most of these gains today.
At press time, XRP is trading at $0.314233 with a market cap of $13,459,434,836. Its 24 hour trading volume is $1,017,461,226 and the token has seen a 1% increase in value over the past one hour.
This somewhat bearish trend is more or less a buy signal as the price is gearing up for a breakout soon.
Tone Vays Says XRP is An Unregistered Security
In a debate with David Gokhshtein on BloxliveTV, Tone Vays spoke about the future of XRP. The trader attacked token, calling it useless. Vays said it has no use case since banks do not use the token.
During the debate, Vays alleged that XRP is an unregistered security which was created by Ripple to get money for its own funding. He also said the company is attempting to separate itself from XRP token as it would not make sense to the ecosystem.
Gokhshtein, a 2020 house of Reps candidate argued saying that banks do not need to use XRP for it to be considered useful. Vays argued that there is no proof that banks will ever use XRP since they don’t necessarily need to.
The debate continued as Gokhshtein spoke about how xRapid saves banks up to 30% on transactions. If such banks use XRP, they could save another 30% says Gokhshtein. He believes XRP is a universal asset that could save banks 60% of their transaction expenses.
Vays didn’t agree to this point but stated that SWIFT is capable of doing all that XRP was made to do. Gokhshtein said both XRP and xRapid were created to save the cost of transactions.
After a heated argument, Vays spoke about Libra from Facebook and how he preferred it to XRP from Ripple. His counterpart disagreed with his points and stated that Vays didn’t like Ripple because of the different product it created.
Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.