Fundamentals That Affect the Growth of Ripple (XRP)
This past year was various for digital markets, and many started to get involved just starting this year. One of the biggest developments of the year was Facebook launching a cryptocurrency project. The news came to surprise to many, however, many believe Facebook might actually overtake cryptocurrencies such as Ripple (XRP) in its effort to be a global transaction currency. Max Keiser, the avid Bitcoin bull and altcoin bear, stated that he believes Facebook’s cryptocurrency will overtake all cryptocurrencies except Bitcoin, starting with Ripple.
However, our prediction would disagree with that. What we’ve seen through the consistent cycles of cryptocurrency market movements is that remaining altcoins will very often increase in value purely because the remainder of the market does. Also, Facebook’s coin will apply pressure to Ripple’s main infrastructure and XRP token, which doesn’t need to be seen as the apocalypse, but rather healthy competition that both firms are suited for.
Both Facebook and Ripple are billion-dollar firms. There’s no doubt they’ll be competing with one another. However, this competition can only positively stimulate the cryptocurrency market; the end result, in our opinion, is a beneficial Facebook cryptocurrency as well as a higher priced XRP.
XRP’s technical analysis can give us relative (Not finite) insights as towards where the price of the asset might be headed in 2020, those who trade cryptocurrencies may resonate with this…
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