Token XRP Ripple had the worst start in 2019, whereas the bitcoin back to the market bull, XRP fell 16%. Third largest cryptocurrency now is the worst digital asset in the top ten.
As the Ripple got worse by yesterday’s trading session as the value of XRP has fallen by 7%, dropping below the key $0.30. XRP consistently lags behind the rest of the bitcoin and cryptocurrency market.
Cryptocurrency market felt strong recovery in the first months of 2019. Bitcoin has grown by 43% this year, surpassing the stock market and every share in the Dow Jones Industrial Average.
Other cryptocurrencies demonstrate even better performance. Litecoin has increased by 135% since January, and EOS to 82%. Binance Coin (BNB), one of the most successful cryptocurrency 2019, jumped 283%.
XRP, however, failed to join the rest of the tokens in the epic cryptosecurity. Cryptocurrency Ripple remains at 92% below its highest level of $3,84.
The lack of price movement probably lies XRP on Ripple. The company aims to provide international technology for money transfers to major banks and payment providers. But, despite the fact that they announce hundreds of banking partnerships, only a small group actively uses the token XRP for liquidity.
Chief Executive officer brad Ripple Arlinghaus (Brad Garlinghouse) once boasted that “dozens” of banks will use a service company xRapid Ripple, until the end of 2019. Other clients – this is a localized payment service provider.
Simply put, liquidity xRapid XRP and have not changed the rules for Ripple. Traders “return to Earth” after the exaggerated promises.
The unique selling point of Ripple was weakened by the entrance of JP Morgan and Facebook in the arena of cryptocurrency.
The cryptocurrency community laughed at the controversial cryptocurrency Coin from JPM JP Morgan when she appeared in this year, including the CEO of Ripple. But JPM Coin, likely played a role in reducing the price of XRP.
JPM Coin promises to do what makes XRP. JPM Coin designed in order to make Bank transfers faster and cheaper. Once it can also be used for interbank payments.
At the same time, Facebook unveiled plans for the cryptocurrency, which would facilitate the transfer of payments in India. Indian services for the transfer of funds is one of the most important markets Ripple.
In other words, Ripple and XRP just got a huge, well-recommended competitors.
Ripple also received a class action because of its impact on the token XRP. Ripple claims that he has not created XRP and has no direct connection with the cryptocurrency. But the legal documents say otherwise.
As a result of close ties with Ripple XRP, many argue that it should be classified as securities. The Commission on securities and exchange Commission (SEC) is still undecided on this issue. The confusion around the classification of XRP probably makes some investors wary of the asset.