Ripple’s CEO, Brad Garlinghouse recently claimed that 2019 had been the firm’s strongest year, to date. The blockchain payments firm’s RippleNet platform now boasts a client base over 300 global financial firms strong. Ripple counts international remittances firm, MoneyGram, as wells as banking giant, Santander among its customers. Puncuating Ripple’s good run of 2019, on November 23rd, the firm’s XRP ledger processed a record 4 million transactions.
Shattering a previous record of 1.7 million transactions, set back in January, Ripple has outperformed the transaction records of rival digital assets, Bitcoin, Ethereum, Litecoin and BitcoinCash. All of which have yet to cross the 1 million transactions mark.
“$XRP Ledger Transactions Hit All-Time High, Blast Ahead of Bitcoin, Ethereum, Bitcoin Cash and Litecoin. pic.twitter.com/EJS6capeC6” – tweeted, @CryptoWelson, 24 November 2019
This news, unfortunately, coincided with a bearish trend in crypto markets and failed to spur an upswing in XRP prices. The XRP ledger’s liquidity token, has beenlanguishing in the sub- $0.30 price doldrums for a number of months now, and fell to about $0.26 on the 22nd of November (a low last seen in 2017). XRP traded at a high of $0.29 on November 24th, to a low of about $0.22 (at time of writing)
Social Media price predictions for the digital asset have been rather bearish, despite the XRP community bustling with positive outlooks regarding the firm’s, as well as the coin’s, future performance. A Twitter user and digital asset trader, DonAlt, even went as far as predicting a drop to the $0.19 price level.
“$XRP update:$0.30 was quite important, let’s hope $0.19 will be as well. The price action on XRPUSD is uncannily technical. pic.twitter.com/gJyzZeRYbm” — tweeted @CryptoDonAlt, November 22, 2019
Price forecast agency 30Rates also predicts that XRP’s price will take a battering in the week to come. Factors like continued bearish momentum playing havoc on crypto markets, coupled with the crypto community’s continued distrust of a firm that believes in working hand-in-hand with the established financial system – which cryptocurrency is meant to be against – may play a role in a continued slide.
Get real time update about this post categories directly on your device, subscribe now.
