The Low Price of XRP Starting to Erode Confidence in Ripple’s Use Case?

26 Mar, 2020 Updated 17 Apr, 2024

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The low price of Ripple (XRP), the native currency of the XRPL, shouldn’t erode confidence in Ripple’s use case. This is the view of one Twitter user who is also urging XRP and crypto coin holders not to focus price, the “ultimate misdirection tool”.

“I can see the low price of XRP starting to erode confidence in Ripple’s use case. It’s easy to see failure where there is none. You’re allowing your disappointment in your investment to cloud your judgment. Try to keep in focus that all coins are hurting, and that nothing.”

I can see the low price of XRP starting to erode confidence in Ripple's use case. It's easy to see failure where there is none. You're allowing your disappointment in your investment to cloud your judgement. Try to keep in focus that all coins are hurting, and that nothing..

— galgitron (currently not promoting any crypto) (@galgitron) March 26, 2020

Ripple is all about Efficiency and Speed

Ripple is an ambitious project that seeks to not only improve efficiency in the banking sector through speedy transactions, cost saving, and encryption, by bringing providing an alternative to SWIFT.

Supporters claim that Ripple’s solutions mainly xCurrent and ODL (previously xRapid)—based on the RippleNet and presented as a suite, is necessary when the world is now focused on the customer, not the institution.

He argues that there is nothing much that has changed about ODL and Ripple continues to forge partnerships all for the benefit of the end user.

“…about Ripple or ODL’s use case has changed. Remember the price isn’t real, and the true value of XRP remains as strong as ever. I know price is all that matters to some of you, understandably so, but you’ll make yourself crazy trying to rationalize a random number.”

Partners in South Korea benefits

For instance, Ripple recently partnered with three institutions from South Korea. One of them, Sentbe, says Ripple’s solution opens up a new world for migrants working in the diaspora and constantly sending funds to their families.

Its CSO and co-founder, J Young Lee, acknowledged that incorporating Ripple’s solutions has made them “faster, cheaper, and more convenient” and are ready to expand.

XRP prices aren’t manipulated

Nonetheless, there are claims that Ripple, the majority owner of XRP, is artificially suppressing prices and keeping them affordable for their partners.A possible cause for this disillusion.

https://twitter.com/xrp_2020/status/1213584892992327681?lang=en

This, Brad Garlinghouse, the CEO of Ripple, dismissed saying it wouldn’t be in their best interest to.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.