Today, we will dive into XRP chart. We need to first analyse past events before we move onto today’s price analysis.
XRP’s Strong Partnerships
Ripple has long list of partnerships with giant corporations like American Express and MoneyGram. Beside having big line of partnerships and projects, XRP has been dumping hard since the 2017 bull market where it pumped to an ATH of $3.84.
XRP’s Future Investments
Despite its downfall, XRP still has a huge circulating supply and total supply. Every month 1 billion XRP tokens are released for company expenses. Apart from that, XRP is also announced that it will be listed on stock exchanges and will donate portion of their profits to several top universities who promote blockchain technology education.
Reasons for XRP Dip
The consequences of circulating a high token supply and releasing more XRP each months is lack of motivation for holding the coin. When supply is high, the demand is low. This scenario might be good in the long run, but right now XRP’s price is consolidating between 0.3-0.17 cents for the past year and has been supported by 200 daily moving average.
Looking Ahead at XRP
XRP will deliver better returns than Bitcoin. Why? Bitcoin has 16 times the capital invested in it. Moving $8 billion to $80 billion is a lot easier than moving $140 billion to $1.4 trillion.#XRP
— ??Robert Art?? (@RobertArtRobArt) April 26, 2020