Ripple (XRP) Price Rally Not able to Work Past $0.20 Ranges Everyone Walking China CrawlingJuly 10, 2020
XRP has been losing steam and the investors report that they are tired of holding their bags to see the price of the token go up. There has been nothing called a decent with XRP after CoVID-19. This is despite Ripple having the support of leading financial institutions like Standard Chartered, Barclays, Bank of American and Sumitomo Mitsui.
Brad Garlinghouse tweeted: “While everyone else is crawling, China is walking.” In response to Asheesh Birla tweet on how China are rolling out a robust distribution strategy for its digital Yuan.
The overall impression is that very soon payments in China are likely to be heavily influenced by China. And considering all the drama that is happening in the USA, it feels like the game is already over in the USA.
However, it is interesting to see that XRP has attracted a special place during the pandemic for money remittance. The scope for improved businesses by virtue of increased numbers of partnerships from financial institutions seems to be reportedly bright.
Ripple (XRP) Price Disappointment
The Ripple (XRP) Price rally is not able to work past $0.20 ranges and investors are not happy as the price is doing no good to them.
The policy paper issued by Ripple in the past month to Indian Legislators to provide for cross border payments and remittances titled “The Path Forward for Digital Assets Adoption in India,” nothing seems to have moved in favor and the uncertainty around the crypto regulation in the country continues. As ridiculous the legislators think is crypto in the current moment, they are all going to have to agree at some point in the future, it is just a matter of time.
Sydney Ifergan, the crypto expert tweeted: “The disappointment about the price is agreeable for Ripple (XRP); however, the pandemic has seen some decent levels of the adoption in terms of payment remittance during the pandemic.”
Ripple tweeted: “Being part of #RippleNet has helped us forge sustainable and scalable relationships with other financial institutions around the world – One Pay FX.”
The good thing is that half the bank’s annual international transfers can be comfortably handled by the app. But despite all the hope, the only question that remains unanswered is why the price of Ripple is not going up?
Recently, the Ripple Data science team employed order book data to create early measures to ensure liquidity monitoring in the Ripple’s Newest Get Technical Engineering Blog.