XRP Usage Increasing Amid Plummeting Price Of XRP, Why Isn’t The Price of XRP Moving Higher?

ripple xrp price analysis

Ripple News Today – CEO, Alex Holmes in the just concluded MoneyGram’s Q2 2019 earnings call, showered Ripple with compliments. Holmes hyped the advantages of his company’s agreement with Ripple, saying that they were now transacting on xRapid.

Ripple News Today – Cryptocurrency News Today – XRP Price Continues to Slump Increasing Use Cases of Ripple

The CEO of the world’s second-largest money transfer firm said that would secure their partnership with Ripple and utilize XRP. However, MoneyGram has not publicized the number of transactions or volumes done with xRapid.

Ripple’s xRapid uses XRP as a source of liquidity. So far, Ripple has been fetching more investment to xRapid. The platform proffer businesses affordable, faster, and well-organized transfer services. The CEO of Ripple, Brad Garlinghouse believes more financial institutions will take advantage of xRapid by the end of 2019. Aside from MoneyGram, other smaller known firms using xRapid include Cuallix and Mercury FX.

Cuallix is a Mexico based payment solution firm, the offers credit and payment processing solutions. The Ripple platform was test-run on Cuallix first before it was launched for commercial uses.

xRapid went live on Cuallix in October 2018, currently firm is one of Ripple’s oldest partners. On the other hand, Mercury FX is a remittance startup that deals with high net worth businesses and clients. Mercury FX uses XRP to transfer cash remittances to and from Mexico. Lately, the platform is vying for the Philippines too.

XRP Price Prediction 2019 – XRP Prediction – Ripple News Update – Ripple xRapid Usage on the Rise

Currently, Ripple (XRP) has been trading on a bearish level scarcely increasing above the $0.33 price range. It has been quite a roller coaster for some investors who are expectant of some interest, although Ace XRP investors are educating them on the impact of liquidity. They stated that tokens price does not interfere in the face of the platform’s surging liquidity. Speaking on this is Eric Dadoun¸ he stated: “Very bullish seeing the liquidity impact of MoneyGram. Deep liquidity eventually enables real players (IE: banks). You can’t transfer meaningful fund sizes when the order books can’t support a fraction of it while remaining stable. XRP price is meaningless for now”.

XRP (XRP) Price Today – XRP / USD

# Name Price24H %
3
ripple
XRP(XRP)
$0.264
-1.05%

Ripple controls over 50% of the XRP supply and steadily sells it into the market to fuel the ecosystem’s growth. This has swiftly increased the XRP supply, expanding the downward pressure on its price. Although they will sell at a lower price in a bid to protect the token’s price.

Despite the increasing list of xRapid users, XRP fans have not gained much from the token’s prices. Recently, many users are initiating an uprising as they are no longer comfortable with the price wave. So far, they have published an online proposal demanding Ripple to commence a token burn of available XRP. The rationality behind this is that the token burn will reduce the XRP supply, which should, in turn, increase the token’s prices.

The unrest community is not having any of Ripple’s reassurances and are taking a stand. Sadly for the XRP holders, Ripple has a lot to gain from selling that huge XRP in the vaults. The unsold XRP is currency valued at $15.5 billion. They, therefore, have no reason to commence a coin burn.

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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