Ripple’s XRP is Having a Hard Time Getting Out of $0.3

By Prashant Jha

Ripple is making waves through its banking solutions which many central and commercial banks are lined up to implicate in their current operations. However, despite the surge in adaptability, the native token of the Ripple platform XRP is finding it difficult to get out of the $0.3 price range.

Even during the recent surge of prices starting from the first week of April, which saw Bitcoin and other major altcoins make double-digit gains, XRP could not cash on the trend. XRP is currently sitting at the 3rd position by market capitalization, however, the token’s incompetence to break past the key resistance level is quite worrying.

What Could Be The Reason Behind Such a Dismal Price Performance of XRP

There are many theories behind the dismal performance of XRP, and one of them suggests that the stiff competition from similar altcoins which promises the same functionality as XRP. One such altcoin is Stellar Lumens (XLM), which many believe provides better functionality than XRP.

XLM has performed quite well in the last couple of months and rode on the market surge well. Another theory suggests that there is nothing wrong with XRP, it is just waiting for the right time to explode. XRP fans must take note from the history which would show that it is just a matter of time, as the token is not going to remain under the key resistance level forever.

Another reason could be the popularity of the Ripple made solutions as well, where the company’s banking solutions have become so famous that it has overshadowed the native token XRP. The controversy of circulation supply might have also added to the misery since everyone accepts that Ripple made technology will be widely used, but the same can’t be said about its native token.

Ripple’s Banking Solutions Can Help it Revive the XRP Token

Ripple’s strategic partnership with the central and commercial banks could possibly help it revive its native token XRP as well. Ripple made xRapid and xCurrent solutions make use of XRP token as a mode of operations on the network, and as the partnerships grow in stature, the token can see itself getting past the key resistance and blooming to new highs.