Ripple XRP’s Price Action Depends Significantly on Ripples Image According to Cryptocurrency Analyst

XRP Needs Ripple to Clean up its Act if it is to Recover Long-term. Ripple has been working on expanding XRP’s utility, or so they claim.

The CEO of the company Brad Garlighthouse and other executives are confident in the future they are trying to build for XRP and the entire ecosystem. The company is working tirelessly to project a positive image for the token and their other products. The community is divided between those who are optimistic about the future of XRP despite current prices and those who don’t think XRP will ever live up to its predicted potential.

Recently, Garlighthouse said the company isn’t going to be profitable if the they don’t sell tokens. This comment was made shortly after the company came under fire for selling too many tokens after promising to cut sales.

There was a 1760% increase in XRP sales between the first and second quarter of 2020. He also said that they are working hard to expand their tokens utility. He also compared their products to XRP.

In his words:

“Amazon started as a bookseller and just sold books. We happen to have started with payments. Two years from now, you’re going to find that Ripple is to payments as Amazon was to books.”

XRP Price Struggles Agaisnt the USD but it Still has What it Takes to Surge

XRP has been struggling against the USD for the past three years. Apart from the bad reputation that has affected the price of the token, another factor that has affected XRP is the dumping scheme. Even if Ripple doesn’t dump its tokens to the open market directly, the tokens hey liquidate still find their way to the market. Right now, the token has found itself in the $0.2700 to $0.3000 range. It is not clear when XRP will recover or if it will recover but working on their reputation will certainly make things better.

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.

  • Ripple has a Bad reputation in the cryptocurrency industry and this affects the price of the XRP token despite what Ripple executive might say
  • Ripple XRP has been struggling for the past three years and it might have difficulty improving if the parent company does not clean up its act

Everyone in the cryptocurrency industry knows that Ripple is the most controversial of the top three blockchains on Coinmarketcap. Since the blockchain company was created, its executives have been accused of all sorts of things from false advertising, selling unregistered securities, to outright reaping people off their hard-earned money by selling a centralized token that doesn’t have any real-world use cases.

Most people think Ripple’s bad reputation is responsible for the negative price action of the token over the last few years. Ripple has denied all these accusations claiming that everything they do is to improve the XRP ecosystem and take over the tradition financial institutions. Top of Form

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