Why has XRP been rising continuously (Is there still hope for XRP to rise)?
Why has XRP been rising continuously? XRP is a token issued by Ripple, and the
Why has XRP been rising continuously? XRP is a token issued by Ripple, and the project released its whitepaper in July of this year. According to the official website, in March 2020, the company raised $100 million through an ICO to fund the development and implementation of the new product XRPLedger, and promised to launch a new payment system to reward early adopters. This new platform is called xrpy.exchange (Ripple wallet) and aims to promote the application of blockchain technology and other innovations by users.
Starting from early 2017, the price of XRP has been rising continuously for over a year and a half, with the current price being around $0.085 as of the time of writing. This means that the price of XRP is currently near its recent high point. (Bitcoinist)
Is there still hope for XRP to rise?
According to a report by cointelegraph, a report from Coindesk shows that XRP has dropped over 5% in the past 24 hours. This means that the project has lost over 10% of its value since mid-May.
In addition, the report states that despite the high demand for XRP tokens in the current market, the company still struggles to make a profit due to its high trading volume and low network fees, and also has to bear the costs associated with network operations. Previously, XRP announced an undisclosed amount of seed funding.
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