One of the three market leaders, XRP is recovering worse than others after the cryptocurrency market crash in March.
In a new report of investigating company Arcane Research, it is noted that the Ripple native currency may be losing attractiveness as for players. The market suffered heavy losses in March due to coronavirus. All cryptocurrencies were under pressure, each tried to correct the situation in its way. And this even though all three leading cryptocurrencies had started the year with good positions. However, after the collapse in March, the recovery paths turned out to be different as for BTC, ETH, and XRP. Ethereum has recovered better than others, now it has added 75% since the beginning of the year. The first cryptocurrency added 27% year-to-date. And only XRP disappointed its investors with its “minus 9%” level.
The secret to the ETH fast rise and its quick recovery after March is that Proof-of-Stake consensus is the right way for Ethereum development. XRP does not have such innovations, although the number of its adaptations in fintech structures around the world continues to grow. However, its fall has already led to the loss of third place in the Coinmarketcap rating, which is now occupied by stablecoin Tether (USDT), although some experts don’t consider stablecoins as cryptocurrencies.
Analysts suggest that XRP will continue to fall until it bottoms out at 0.000015 BTC or about $ 0.14. This conclusion comes from the observation that XRP is falling all year 2020, for more than six months. Although at other times, the Ripple cryptocurrency usually showed at least one take-off for half a year. At the same time, many other altcoins in the 2020 show rise from time to time.
But Ripple supporters suggest not to sell the coin and refer to the fundamental factors of its support. Indeed, Ripple is constantly expanding its partnership. Just a couple of days ago, a new partnership was announced with Currencycloud, which, in turn, is a Visa partner.
Working with Ripple will help Currencycloud improve its platform for cross-border payments in the B2B segment. Currencycloud believes that it is Ripple that can provide transparent payments, especially for SME companies that are historically under-served by traditional banking. Currencycloud has partner relations, besides Visa, also with SBI Group and International Finance Corporation (part of World Bank Group).
Perhaps the published Arcane Research report worked as a verbal intervention because right after it was published, XRP finally went up.