The third-largest cryptocurrency by market capitalization XRP has faced so many challenges with the price. It has not been able to make any significant progress since the 2017 bull market that multiplied its price 1000%. Interestingly, Ripple is doing everything to make sure its worth increases and that it makes significant progress.
A member of Forbes Finance Council David Gokhshtein says in a tweet that XRP’s future price is quite uncertain notwithstanding the efforts put in place by Ripple to ensure it succeeds. Gokhshtein acknowledges that Ripple has some “fantastic products” like xRapid that could potentially increase the worth of XRP but they don’t seem to help.
Ripple has launched a number of products and secured partnerships that should have had serious impacts on the price of XRP but the effects don’t seem to show. xRapid its foremost payment product as well as RippleNet, the payment network made a name for the company in remittance payment. With these products, Ripple says it boasts of over 200 institutional clients, which is why the crypto community wonders why XRP price has not made a major move yet.
Some responses to the tweet indicate there are some XRP holders who believe a significant price gain for XRP is still possible no matter how long it takes. Others believe this is true but some price forecasts for the cryptocurrency are unrealistic. @Digitally_Set wrote:
“Holding means holding not selling so 600 days is nothing. I’m ok waiting 5-10 years to sell some if needed.”
“I agree with you! Nobody knows what will happen. But extreme predictions like $10.000 for 1 $XRP is crazy,” @FrankLambeek wrote.
Meanwhile, XRP is becoming a preferred cryptocurrency for making online purchases. According to a report by payment gateway CoinGate, 42% of its clients prefer to pay using XRP. The digital currency is also used widely by banks and other financial institutions around the world to settle payments across borders, making it very useful as a blockchain token used for such purpose.
Hopefully one day, the price could rise significantly to reward its loyal holders. For now, price is at $0.31 and the market has been kind of bearish lately, so as Gokhshtein says, it is difficult to say where XRP is going.